If you are in the process of deciding whether entrepreneurship is the best path for you, one book you must read is “Before Your Quit Your Job: 10 Real Life Lessons Every Entrepreneur Should Know about Building a Multi-Million Dollar Business” by Robert Kiyosaki and Sharon Lechter. Part of the highly-popular Rich Dad’s series, the book is a practical and honest look at the process of starting a business and how to turn a business into a success.
The book is almost a first-hand account of the experiences of the authors in starting a business. Robert Kiyosaki is a well-known name in the field of personal finance, real estate, among others, and has been engaged in entrepreneurship since he was nine years old. The book is his distillation of all his experiences, and his views as to what works in building a successful business.
According to him, there are 10 lessons every start-up entrepreneur must learn, and these are:
1. A successful business is created before there is a business: careful planning is critical
2. Learn how to turn bad luck into good luck: there are no mistakes, just learning opportunities
3. Know the difference between your job and your work: work to learn, not to earn
4. Success reveals your failures: your strengths will reveal your weaknesses
5. The process is more important than the goal: the process determines who you become in attaining your goals
6. The best answers are found in your heart, not in your head
7. Pick your mission: do you solve a problem or fill a need?
8. Design a business that can do something that no other business can do
9. Don’t fight for the bargain basement: focus on the right target
10. Know when to quit
If you are a fan of Kiyosaki, you may find many of the concepts to be rehashed versions of some of his previous work (Cash Flow Quadrant, etc.). Nonetheless, the book is very easy to read and full of practical applications to theories the authors advocate. Even if your business is already up and running — but you need to be reminded as to what makes a business work — then this book is also for you.