Entrepreneurship isn’t for the faint of heart and brings its own unique set of challenges and obstacles. Thankfully, there’s a wealth of information out there from entrepreneurs of all different backgrounds that can be applied to make solid and fruitful investments. Investment books can help you get started.
Whether it’s been a while since you picked up an investment book, or you’re a ravenous reader, here are the investment books that should be on your must-read list.
Table of Contents
For When You’re Just Getting Started
If you’re getting started as an entrepreneur, or even just thinking about it, these books will help you get your foot in the door.
1. A Random Walk Down Wall Street
Burton G. Malkiel’s book truly is a must-read for aspiring entrepreneurs who are new to investing and want to learn the ropes. The book has sold over 1.5 million copies and covers everything from investment lingo to common pitfalls and proven strategies for maximizing one’s investments.
2. Beating the Street
Learning from somebody who’s climbed their way to the top of the success ladder is one of the best ways to gain knowledge, and Peter Lynch is a shining example of that. Lynch lays out how he started as an intern at an investment firm and went on to manage $14 billion in assets at a hedge fund. Needless to say, he’s full of investment advice.
3. The Millionaire Fastlane
Author MJ DeMarco wants his readers to start thinking like a producer rather than a consumer, and that means building wealth. DeMarco draws upon his own life and guides readers on how they can leave behind the old model of “get a degree, get a job” and carve out their own financial destiny.
4. The Richest Man in Babylon
Before you write off a book from 1926 as “irrelevant,” hold-up a second. While this book by George S. Clason may not have any insider trading secrets, it’s full of practical parables, such as “pay yourself first,” that any investor would be wise to follow.
5. Economics in One Lesson
Having a good business sense is one thing, but knowing economics is a completely different wheelhouse. Henry Hazlitt gives investors a crash course in economics so that they have a better understanding of how such things as tariffs and minimum wage increases impact the business world and potential investments.
6. The Power of Broke
While other books might lay out advice for navigating the complex world of Wall Street, Daymond John takes a different approach. John’s part biography, part how-to book details why being broke can be one’s greatest asset when it comes to embarking on entrepreneurial success and how to go about harnessing its power.
7. Million Dollar Women
Julia Pimsleur has built a business out of helping women achieve million-dollar revenues through her podcasts, speaking engagements, and best-selling book. She packs the book with case studies and real-world examples that provide tips and guidance for how female entrepreneurs can maximize their careers and investments.
For When You Need Inspiration
Maybe you’ve started your entrepreneurial journey and are just feeling a little lost or unsure. These books can help!
8. The Essays of Warren Buffett: Lessons for Corporate America
Warren Buffet is the Michael Jordan of investing, and his collection of essays, co-written by Lawrence A. Cunningham, is full of insight and wisdom that investors of all levels can learn from. The collection spans 50 years of Buffet’s wins and losses in investments and what he’s learned along the way.
Thrive may not detail every single step Arianna Huffington has taken along the way with her business investments, but it does make our list for a very good reason. Huffington offers plenty of knowledge she’s gained over the years for keeping one’s self mentally happy, so that you can make those smart investment decisions.
10. Beating the Odds: Eddie Brown’s Investing and Life Strategies
Eddie Brown, founder of Brown Capital Management, details how he got started in the industry and weathered the recession of 2008 to grow one of Maryland’s premier investment firms. If you’re an entrepreneur looking for inspiration on how to build success from the ground up, Brown offers a wealth of knowledge.
11. Principles: Life and Work
isn’t the typical investment book, but it details Ray Dalio’s creation of the investment firm Bridgewater Associates and offers a great amount of knowledge. Dalio shares his wisdom on not just cultivating business relationships and investment strategy, but the set of rules he applies to all areas of his life.
12. Shark Tales
Barbara Corcoran is a familiar face to fans of the TV show Shark Tank, and her book is a fantastic read when it comes to a real-world, rags-to-riches story. Shark Tales dives into how Corcoran went from being a broke waitress to making the right investments and business moves to become the millionaire investor that she is today.
13. Prince of Darkness: The Untold Story of Wall Street’s First Black Millionaire
Shane White has done a fantastic job of unearthing and telling the story of Jeremiah G. Hamilton. Born in the early 19th century, Hamilton went on to become a successful investor and the richest Black man in the United States. Prince of Darkness is a truly fascinating story of a man finding success against the odds.
For Aspiring Real Estate Investors
If you’re looking to get into real estate investments, take a look at these books before embarking on that adventure.
14. The Book on Rental Property Investing
Looking to create some sweet passive income with real estate? The rental market is the way to go. Brandon Turner breaks down everything, from which investments make the most financial sense to how to land your first rental property, and how to avoid the pitfalls of real estate as you grow your rental portfolio.
15. How to Flip Houses With Little or No Money
The sheer number of TV shows on the subject is proof of just how popular house flipping has become. Author Cody Sperber has flipped over 1,000 properties and offers tips and how-to advice to entrepreneurs on how to begin investing and flipping real estate on the cheap.
16. The Book on Tax Strategies for the Savvy Real Estate Investor
Getting a piece of real estate property at a good price is only part of the strategy involved in successful real estate investing. Written by two CPAs, Amanda Han and Matthew McFarland, the book details everything entrepreneurs need to know when it comes to tax strategy and how it plays into real estate investing. While this may not be the most exciting topic, it is quite essential.
17. Investing in Rental Properties ror Beginners: Buy Low, Rent High
Lisa Phillips’ approach to investing in real estate might not break the mold, but what she does do is show readers a solid foundation of how they can apply proven real estate investing principles to their own financial situation. That alone makes this book worth its weight in gold for novice investors.
Books That Should Be on Every Entrepreneur’s Shelf
Entrepreneurs at any stage of creating their business will find these books full of useful information and practical advice.
18. The Little Book of Common Sense Investing
John C. Bogle knows his stuff when it comes to investing as he’s credited with creating the first index fund and founded the Vanguard Group. Bogle doesn’t offer a get-rich-quick approach to investing, but he does guide readers on how to approach the stock market and other investments with strategy.
19. Thinking, Fast and Slow
Written by the 2002 Nobel Prize winner in Economic Sciences, Daniel Kahneman, this book looks at the psychological process of investing. Kahneman examines how the thinking patterns of investors can truly make or break them when it comes to success and how to recognize your own critical thinking investment decisions.
20. Become an Idea Machine: Because Ideas Are the Currency of the 21st Century
Got a start-up in mind or want to have one? Author Claudia Azula Altucher’s book functions as a workbook of sorts to help entrepreneurs learn to cultivate, recognize, and capitalize on the right investment ideas. The book is full of exercises and tips on tapping into one’s creative and entrepreneurial spirit.
21. The Intelligent Investor
If you’re looking for how to spot and capitalize on the next big trend before it breaks, look elsewhere. Benjamin Graham is in it for the long game and places his focus on value investing, which ignores the market trends of the moment and instead shows readers how to pick investments with a proven track record.
22. I Will Teach You to Be Rich
Author Ramit Sethi lives the title of his book in his professional life as the founder of GrowthLab, a site dedicated to showing people how to build a successful automated business. Sethi tackles the challenges of lining up one’s own financial ducks and then growing their money with both wit and practical advice.
23. The Only Investment Guide You’ll Ever Need
So many investment books offer advice with a “wealthy investors only” approach. Andrew Tobias offers insights, tips, strategy, and guidance for those who don’t have mountains of capital to burn. While the book came out in the 1970s, it’s far from outdated and has been revised over the years to keep up with the times.
24. Rich Dad, Poor Dad
Robert T. Kiyosaki is one of the most well-known financial gurus out there, and for good reason—he offers consistently good, proven advice. Kiyosaki’s views on approaching wealth-building aren’t without criticism, but Rich Dad, Poor Dad is worth a read to get some real insight into how Kiyosaki’s investing principles helped him build a net worth of $80 million.
25. Think and Grow Rich
Napoleon Hill’s book could double as a case study as it highlights 500 individuals over the course of 20 years and the 13 traits that led to their wealth-building and success. First published in 1927, the book has sold over 70 million copies. Those numbers alone should be a testament to its value.
More Books on Investing Wisely
Unsurprisingly enough, all businesses are online today. Considering the advances in the smartphone industry as well as the increasingly accessible internet facility, it was only a matter of time before businesses took advantage of the online environment.
This increasing popularity makes for a promising future for a lot of young entrepreneurs. And knowing how to start an online business will open up a world of possibilities for you that was not possible 10 years ago.
So, keeping the potential for exponential growth in mind, let’s dive into the article below, and explore the steps of starting an online business that will bring you success.
1. Becoming the Master of ‘ONE’ Trade
Most successful online businesses are the master of one trade. And that’s why beginning with a niche is always a good idea.
A niche market is a focused segment within a larger market. Imagine a men’s shoes market and then, imagine handcrafted brown Italian leather shoes for men. While the previous one is a bigger market, the latter one is simply a more focused segment within that market.
Knowing the niche helps a lot to start an online business and if you are feeling a bit lost, here are some self-queries that will act as a perfect guide:
What Speaks to Your Heart?
This first way of discovering the niche is perfect for those who want to do what they love. Working in a market that you love will ensure that constant excitement and drive to do better, eventually leading to ultimate prosperity.
Decisions Based on Knowledge
The second way is perfect for those who have a lot of untapped knowledge about a specific industry. Utilizing the insights on a specific industry is a great way to find a niche. This way, you’ll already know all the ins and outs of the industry and can easily get ahead of all the competitors.
Lastly, conducting research into various industries and finding an untapped segment is another amazing way of finding the right niche. This practice will require you to come up with a new and unique solution for uncatered audiences.
2. When Is Your Idea Valid?
All the great ideas for starting an online business needs to be valid. And once you have found the niche, this validation process is what comes next.
Proving the soundness of the idea is not at all hard. A detailed industry examination is all you need initially to understand the value of the concept and recalibrate it to turn into a great online business.
Market research is a systematic unraveling of the target market. This research will include all the information on the product/service you are about to sell, the target audience, and how the competitors are operating in this crowded market.
This in-depth research will give you the initial idea of how the products can make an impact in the outside world. And once the small online business ideas are validated, it will be time to move on and craft a plan and start working on establishing the business.
3. Crafting the Map to Success
Having a proper plan for an online business is like having a map when you travel to an unknown city. This is a document that includes all the factual information on the business and crucial business data.
To help you out, here’s a list of all the information online business plans must include:
- An idea of objective – The best online business plans always have a clear outline of the business goals and intentions. Having this clear outline will increase the efficiency of business functions later on. The target demographic, business model—all kinds of information needs to be a part of this document.
- Taking stock of available resources – A startup needs to utilize all the resources it has, and that’s why the plan needs to have an in-depth outline of the financial resources in use as well as the employees and their expertise. With a better idea of all the resources in hand, starting an online business will be an easier process.
4. The Virtual Storefront: A Process of Development
The steps of how to start an online business are incomplete without the website creation process. With the right website approach, you can easily succeed in increasing business revenue.
What does that perfect business website look like? Let’s follow these steps to create an effective business website.
Choose Your Approach
There are numerous ways of making a website and for a positive outcome, you need to choose the perfect approach. Depending on the business model, initial finances, and end goals, there are two kinds of approaches for the online storefront:
- Third-party approach – Third-party platforms will connect you with the customers out there. For small online business ideas, Creating an account or site with these platforms will be beneficial because these platforms come with a large array of services as well as a big enough existing consumer base ready to utilize.
- Creating a new website – A business-specific website will help you eliminate the third party go-between and connect directly with the buyers. With this approach, you get more control over the business and how it is presented to the consumers out there and the revenue you make. Any of the above-mentioned approaches can be beneficial for easy online business startups. However, to achieve some specific business goals, having a customized website will be more beneficial for you.
Design Can Bring You Maximum Success!
For those who have decided to create their own site, the design is of paramount importance. With a great design, you will be able to engage and interact with the visitors better and encourage them to make a purchase.
The design, however, is not just a matter of aesthetics. A website’s design encompasses all aspects of it, from the visual effects to the content that’s used on the site.
To create a truly amazing design that reflects new online business concepts here are a few matters to consider:
- Keep it responsive – Many markets are simply skipping over the desktop phase and launching the business for mobile users around the world. Considering this popularity of the mobile internet market, the business website has to be responsive. This approach will help you to reach a bigger audience and conduct business on a larger scale.
- Users want a fast experience – Using high-quality images on the site does improve the visuals, but make sure all those images are compressed. Having a faster website will enhance the user experience on the site. Besides compressing all the media content on the site, you can also utilize an asynchronous loading technique that loads all the contents simultaneously, reducing friction. With a faster site, it will become easier to implement the online business startup ideas into reality.
- Define the brand – The design stage determines a lot of things for the business website and one of those things is the business image. To make an impact on the world with the business, you have to create a perfect image and for that, a brand guide is necessary. The brand guide is a document that includes all the information and guidelines on various visual elements on the site that makes up the business personality. Based on the kind of image you want to create, all the elements will be outlined in this documentation.
Where the Website Becomes Reality
Since we know how website design helps to launch a successful online business, it is time to move onto development. Online business development is where the idea becomes a reality. And to make this reality perfect, you need to make sure that the development and deployment process goes well.
A high performing site always includes all the right features that enhance the user experience as well as helps you to convert more traffic. And for the best results, ensure the use of only the latest tech stack during development.
Here are some development issues you have to pay attention to while building the business website:
- The right partner makes all the difference – For small startups who are wondering how to start an online business, finding the right development partner is going to make all the difference. However, before making a decision, there are a few things you should contemplate. The team that you are about to hire should have experience in catering to your industry, as well as an extensive portfolio and good reviews. Additionally, it will be perfect if the agency or freelancer also provides a 360-degree service, from development to maintenance.
- How to assure the quality of the site? – Testing the site is an integral part of the answer to the question of “how to start an online business?”. An experienced partner will be able to help you the most with this. From security testing to split testing, this stage in development will help in understanding how well the site functions and what needs to change. And once the changes are made and the test results come clean, it will be time to launch the website.
5. Some Tricks to Increase Online Sales
Selling online is not easy, but not hard either. In a physical store, you can use campaigns, go door to door with pamphlets, and such. However, successful online businesses have their own style of campaigns that helps them to sell more without any problems.
So, what are these tricks?
Utilize the Magic of SEO
With an increase in quality traffic, the sales ratio will go up too. And to drive quality traffic on the website, you need to utilize the SEO tricks, and probably hire an SEO expert.
When starting an online business site, ensure all the content on the site is optimized to rank for the right queries by target consumers. With a higher rank on the SERP, the traffic will increase on the site.
With the increase in quality traffic, it will become easier for you to convert visitors. The visitor data will help you to adjust the site performance. In brief, utilizing SEO will open the doors to a lot of possibilities for your small online business ideas.
Entice With Free Value
Consumers today have lots of options to choose from. And keeping all that in mind, it will be wise to create a business plan for an online startup that provides free value to the users before asking them to buy something.
Consumers want to buy from someone who knows what they are doing, especially in the case of a curated service or goods provider. And that’s why to turn the profitable online business ideas even more effective, you need to start offering free value on the site, with free products and content.
Having a blog is also another way of displaying your expertise. With specialized content on the industry, you can easily grab the attention of the audience. And once assured of your knowledge on the matter, consumers will feel a lot safer about making a purchase.
A Killer Customer Service Is Everything
Your small online business idea needs a better service option. Using AI-based interactive features to implement better support for the global consumer base will prove to be extremely beneficial. With a 24/7 automated support channel, customers will be satisfied with your business and come back more often.
It’s an Easy Process: All You Have to Do Is to Start
And there it is, the simple five-step process of starting an online business that is bound to succeed. If you look closely, you’ll notice that there are not a lot of differences between creating a physical business and an online one. The main differences are only in the consumer and competitive landscape.
While a physical store faces and caters to local competitors and consumers, the online business has to deal with the same on a global basis. So, focusing well on the global market landscape while crafting the plan will help you succeed.