After spending the day juggling business meetings, pursuing new clients and putting out multiple administrative fires, it’s easy to imagine yourself enjoying an extended regimen of relaxation poolside with a drink in one hand and a good book in the other. The good news is that vacation season is right around the corner and you will soon get your chance unplug from the office and focus on yourself. Unfortunately, that vacation will ultimately come to an end and before you know it you will be back in the office making calls, sorting through hundreds of emails and managing your employees.
We all know that owning a business is difficult, as well as incredibly time consuming. And even though your business is likely your most valuable asset, it’s likely that you’ve not taken the necessary steps to determine how much it’s actually worth and develop a plan to grow that value. Moreover, by not knowing and growing the true value of your company, you’re cheating yourself out of valuable knowledge that will help you afford the type of retirement you deserve – more downtime on the beach, perhaps?
This summer, while you are sipping on your favorite drink and watching waves roll in, pick up at least one of the books on my “Top 3 Business Books To Read This Summer” list. These have proven to be valuable in my line of work and continue to be great sources of inspiration business owners around the world. Even if you have read one or more of these selections before, consider refreshing yourself on the lessons that lie within. Then, when you get back into the office after your break, you will be ready to approach your challenges from a new perspective. Maybe you’ll even become inspired to tackle your succession planning responsibilities.
Top 3 Business Books To Read This Summer
Blue Ocean Strategy
What better way to kick-start your vacation than with a little Blue Ocean Strategy? With more than 3.5 million copies sold around the globe, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, written by W. Chan Kim and Renee Mauborgne, has been recently updated and expanded to include a variety of fresh content. Challenging your view of what it takes to truly be strategically successful, this selection “presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use.”
The new expanded version of the book is available on Amazon.
We spend a lot of time mapping out our lives and the ways in which we can improve the quality of our personal existence. Michael Gerber helps us focus on the major life stages of our businesses in his popular book The E-Myth: Why Most Businesses Don’t Work And What To Do About It. Consider why you went into business for yourself in the first place. Were you worried about whether you had the business chops to succeed or did you let your passion drive you to persevere even when you may have not had a clue what you were doing. Gerber’s E-Myth philosophy speaks to those who came into the business world fueled only by our desire to define success on our own terms. The E-Myth helps those of us with limited business knowledge gain the insight needed to persevere and succeed. This is a great read that will leave you charged and ready to tackle even your most difficult business challenges.
Gerber revisited his previous work to provide readers with The E-Myth Revisited, a revised edition of his original bestseller. You can find various formats of the book on Amazon.
7 Habits of Highly Effective People
Sometimes it’s just nice to pick up a “classic.” That’s how I feel about The 7 Habits of Highly Effective People, by Stephen R. Covey. Several generations of business owners have turned to this book to guide and inspire their personal and professional actions. Covey’s principle-centered approach for confronting a variety of challenges in our lives is highlighted through a series of practical examples. As you continue to seek growth within your business while adjusting your level of involvement, you may find this book to be incredibly valuable. Even if you have already read this book once or twice before, this selection always serves as a good motivator.
By Tim McDaniel, CPA/ABV, ASA, CBA (Dublin Office)