Making money, as I have said so many times before, is all about educating yourself. The more you know about a market, the lower the risk of investing in it. The more you know about a method or platform, the more confidence you have putting money into it. It is just that simple. Books about money, finance and business have been my main source of education, especially recently, and whether you read a lot, or a little, these books can help to hone your understanding of money and business.
Book 1: Rich Dad, Poor Dad by Robert Kiyosaki
Kiyosaki has been called a “hack” by many, and not in a positive way. His company, Rich Global LLC, filed for bankruptcy in 2012. Surely this is not a good sign. However, his bestselling book “Rich Dad, Poor Dad” completely changed my view on money, the importance of it, attitudes that help you make money and ways to understand risk.
He talks about his “Rich Dad” and his “Poor Dad,” as you might expect, and the decisions the rich make compared to the poor and middle class. He taught me, most importantly, that I personally want to have financial freedom, and to escape from his prescribed “Rat race”.
Kiyosaki may be a hack, it is not for me to say, but he’s not stupid. He’s still worth roughly $80 million dollars even after his initial company went bankrupt, and for that reason, I think it’s fair to assume his advice is at least worth listening to once.
Book 2: The Way of the Wolf by Jordan Belfort
A running theme of controversial characters it seems. The Wolf of Wall Street himself has turned a corner in his life after his 4 years in prison and $110m fine, and this book proves it. He is an exceptional salesman, and has made a KILLING selling.
He now makes money by teaching firms, funds and everything in between his method of salesmanship called “Straight line selling.” He teaches us how to close people who can be closed, and it’s honestly a really interesting read. I try my best to implement his teachings in certain aspects of my life, but I need to read it again. This won’t be a chore, it’ll be a learning exercise and just like I did the first time, I will love every page.
Selling, however much you don’t think it’s immediately vital for making money, is possibly the most important thing you will learn in your life. If you can learn to sell, you can sell yourself, your products, your business or your pitch, and if you don’t think that’ll make you money, Jordan will convince you.
Book 3: What they don’t teach you at Harvard Business School by Mark McCormack
An honestly fantastic book. This won’t teach you the ins and outs of business, but it will teach you the absolutely fundamental hidden parts of running or starting a business that you’re expected to teach yourself. Things like motivation, keeping time, treatment of clients and controlling your own work. These are the things that keep you successful.
They’re the vital lessons that can help maintain your work schedule and keep you motivated to push on and continue taking steps to improve your financial and business life. It was a brilliant read, one that I couldn’t recommend enough, even if just to pique your interest in business for the first time.
Read. It opens your mind to more things than you can imagine. Books will teach you things you never thought you wanted to know, alongside the best and most important lessons you will ever learn. If you stop reading, then you stop learning, and as you should know, you should never stop learning.