Before the massive growth of the digital era, book reading was a ritual for people who wanted to gain knowledge, including business owners. Nowadays, people are so preoccupied with social media and the internet that they hardly contemplate reading books. But the numerous benefits of reading books as an entrepreneur or businessman must be considered.
According to Business Insider, most of the world's most influential business people, like Bill Gates, Mark Zuckerberg, and Warren Buffett, dedicate their time to reading. As an entrepreneur, reading business books helps in many ways: from improving your intellectual strength to your psychological capacity to many other things which can be tremendous assets to your business. Continue reading to discover why you should read more as a business owner.
Reading is Not Old Fashioned
With the advent and popularity of the internet and social media, many people consider reading books, especially hardcover ones, old-schooled, but that notion is far from the truth. Instead of negatively affecting the reading trend, the internet and social media have enhanced it positively. According to PIA's research, ebook sales alone were over $1 billion in 2020, showing that people are still interested in reading books. Even celebrities like Emma Watson and Jimmy Fallon use social media platforms to showcase their love of reading and encourage others to participate. That is something worthy of emulating as a business person.
Develop a Better Strategy
When asked by CNBC about the key to his business success, Berkshire Hathaway CEO Warren Buffet mentioned daily reading as an essential key to success in business—reading at least 500 pages daily is necessary, especially for those looking forward to growing a successful business. Just like compound interest, that's how knowledge works. It continues to build up when you read more often.
Warren Buffett added that he spends 80% of his working hours reading and thinking. The truth is as much as you are accumulating knowledge as you read, you also have to use your critical thinking to look for solutions and set up better business strategies to influence your decision-making for your business.
Sometimes, you may find reading overwhelming considering your busy day and schedule, but it's not. Think of it as a way to invest in yourself and your business. You can start by devoting an hour of your day to reading and learning something new.
Have you ever wondered how great ambitions are born in the first place? Surprisingly, books are one of the elements needed to build your mind with untapped opportunities for innovation.
Elon Musk's science fiction-like plan for SpaceX and the exceeding success of Tesla was significantly impacted by books. This he admitted in an interview where he made it known that books raised him. Elon Musk said that he used to read many science fiction novels and devoted 10 hours daily to that.
Your success is just a few books away, and you must start that journey now. You will be amazed at how much reading books will impact your business ambition as you will be open to new insights, perspectives, and ideas. Your sense of curiosity about the business will become alive. That may help you get unstuck from your current business challenges and gain confidence in your next steps.
If you are working on a business plan, you are an entrepreneur, or you have plans on starting your own business, you must read. It will help you to avoid some of the trial and error stages of building a business.
As an entrepreneur, your experience may not prevent you from making mistakes, but as you broaden your mind through books, you may likely make the right decisions once you develop a daily reading habit.