Starting and managing a small business can be as rewarding as it is challenging. The Small Business Administration (SBA) cites that about 66 percent of businesses survive at least two years, and about fifty percent of businesses survive at least five years. As a leader, it’s your job to balance the immediate issues facing your company with a long-term growth strategy that puts in place the right people, workflows, and ideas.
Every decision you make lays the groundwork for the future. CoverHound can help you find the right small business insurance to protect what’s important to you, and these three books can teach you more about how to make your entrepreneurial dreams a reality.
“Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” by Eric Reis
Many giants in our current business landscape had humble beginnings as startups, some even in garages (think Amazon, Apple, and Google). Start-up culture has shown what the right mix of minds and resources can accomplish if they convene at the right time. Even if your business isn’t strictly a start-up as many know it, you can still gain valuable lessons from studying these business models.
Ken Dunn, a CEO who has co-founded multiple companies across various industries, highly recommends “Lean Startup,” particularly as it relates to money management. After all, one of the biggest challenges that accompanies starting a business is managing the cash flow.
“It will teach you how to effectively manage your budget, allowing you the freedom to innovate and make your way in the business world,” Dunn wrote in a column for Entrepreneur.
“Making Ideas Happen: Overcoming the Obstacles Between Vision and Reality” by Scott Belsky
You have a clear mental picture of the direction you want your business to go and what exactly you hope to accomplish at the helm. Now how do you translate those ideas into real world actions? One of the trickiest aspects of growing a business is taking ideas that look good on paper and making them happen. This is true for the entire lifespan of a business, from its start to every innovation and growth spurt that follows.
Business Insider suggests reading “Making Ideas Happen” to develop an effective method for implementing your ideas, noting that this book “takes you through project management, how to maintain your focus, harnessing the power of your community and developing the chemistry of your creative team. It’s a real world management book that you can use daily by yourself or with your team.”
“Getting Things Done: The Art of Stress-Free Productivity” by David Allen
Innovation doesn’t always happen in leaps and bounds. Sometimes it’s just a matter of putting your nose to the grindstone and getting things done. Teams looking to ramp up productivity without contributing to an unsustainable, stressful company culture should read “Getting Things Done.” Bonus: Allen has given a TEDx Talk on productivity that’s a great sampler of topics covered in his book.
When it comes to managing your small business, it’s a good practice to learn from others’ experiences and apply their wisdom. Whether your main concern is budgeting, motivating your team, project management, or all the above, these books can help you take charge.
CoverHound can help you find coverage for your growing business. Compare small business insurance options today!