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Important Books For Business

importance-of-books-in-business

Important Books For Business

Here we will know the importance of books that what role are the books are playing in an entrepreneur life and understand top five lessons from 5 top books of business so, let’s start reading together.

Importance of books for entrepreneur

Let’s us know the importance of books in business and in the life of entrepreneur, books are the weapon, books are the solution for any problem, books taught how to live, books taught how to make money from money, books taught how to handle failure. An entrepreneur is empty until he/she do not study and deeply understand the to the business, money, life and failure etc.

Classification of books

Classification of books mean that you have to read only those books who are related to your work like if you are doing business you have to read books which is relate to business, money, skills, and life etc. you have known the importance of books in business because the books are not just help you to earn profit it help you in the difficult situation to fight against them.

Books like mirror

In this particular paragraph we will perfectly understand the importance of books in business, in the whole world every single person will remember us about our week points and failure in business but books are the only things that shows our both positive and negative points just like mirror shows us our beautiful face as well as pimple on our face, that is why I mention here books like mirror.

Now, I will hope that you will understand the importance of books in business and how books play the major role in entrepreneur life or a normal person life. After that we will learn top five lessons from top 5 books from business.

Top five lessons from top 5 five books

Think and grow rich [By Napoleon Hill]

This book is written after taking more than 500 interview of richest man of that time.

  1. In this book author says that imagination is the very important thing, he said that if we are poor than it is not our mistake but not imagining of being rich is our mistake.
  2. Fear is a very scary thing it stop us to try new thing in our business, author said that we have to control our fear for become rich and start taking risk because without taking risk no one is become rich in the universe.
  3. According to the Napoleon Hill education is not stop when your collage stop, the people who think that often to lead an average life. He said that we have to learn from every situation and failure in our life. According to the author we have to gain specialized knowledge in our field than we become successful.
  4. To be a successful man we have to control our subconscious mind. If do not control our subconscious mind than it will difficult for us to achieve our goal.
  5. The last lesson is we have to patience about our work because great things take time.

Rich dad poor dad [By Robert Kiyosaki]

This book is totally based on money that how to make money from money.

1. This books tell us that a rich man always invest in asset and poor man buy liabilities, when you invest in asset it give you profit but if you invest in liabilities than it reduce you invested value like if you buy a stock than it give you money back but if you buy or invest in you a car if reduces your capital.

2. Robert kiyosaki said that a middle class family afraid of risk because they don’t have risk taking capacity and rich family child take risk they fail and learn from the failure.

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3. A middle class family tells their children that how to adjust in less money but a rich family tells their children that how to make money from money.

4. Do not work for money, do a work in which money work for you like investing in stock investing in Estate business etc.

5. The last lesson of this book from my point of view is stop working for money work for learning.

The Psychology of Money [By Morgan Housel]

This book is based on our mind-set towards money.

  1. According to the author, we cannot become rich if we have a massive income source, we become rich when we have very less expenses high savings. There are many people who first rich but due to less saving after few years they become poor. you can also read their biography than you will know the power of saving.
  2. We have to become financially free it does not means that buy an expensive house or an expensive car, financially freedom means that we able to buy our time we can use any thing as much we can.
  3. When I was reading this book I read a line that rich man is not wealthy man, it means that rich man send their money in expensive house and car but a wealth man always send their money in buying asset.
  4. The book tells us that avoid bad decision for investing, as we all know that we have to take risk for making money but avoiding bad decision means that take risk but not as much you cannot bear.
  5. Nothing is free in this universe you have to pay something to get something, even social media is also not free we have to give our time and our data to social media platform.

The Intelligent Investor [By Benjamin Graham]

This book teaches us that what is a real investor and how to make money in stock market.

  1. Warren buffet who deeply read this book and he was one of the successful investor, he tell that be afraid when world is greedy and be greedy when world is afraid.
  2. According to warren buffet and Benjamin graham, there are two rules of investing first is never loose your money and second is never forgot the first rule.
  3. This book tells that our investment should grow more than the inflation rate of the country for example if the inflation of the country is increasing by 7% per year and your investment is growing 10% per year it means you are invest is keep growing and beating the inflation rate.
  4. According to Benjamin graham a real investment need these three points.

a) Thorough Analysis - It means that you have to the reason of your investing and you have to do your own deep research on the investing company.

b) Safety and Principle - We have to think about the long term profit never think about the short term because in short term there are many fluctuating in market.

c) Adequate Returns – It means that you should meet a adequate return to beat the inflation rate.

5. The last thing is you need patience while investing in stock market. According to warren biffing you have to be patience of whole life.

The Richest Man in the Babylon [By George s. Clason]

This book is about the richest man in the Babylon city how he becomes richest man.

  1. This book tells us we have to save our 10% income every month, as we all know that in covid-19 most of the people lost their job and they did not have enough money to survive but some of them who save their 10% income every they survive easily that is why saving is important.
  2. According to George s. Clason, Luck favor's those who work hard on their field than he/she grows.
  3. We have to invest our money in stock markets after our own research and after consulting a wise man.
  4. The wealth we created we have to save our wealth by taking a profitable insurance after reading all terms and conditions.
  5. The lesson is from my point of view is always debt free or if you take a lone pay the instalment and the interest timely.

© 2022 Arjun Giri

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