Educate and inspire: five books that will teach you how to open and run a business

Business is a journey full of challenges, triumphs and endless learning. As you navigate the entrepreneurial seas, these 5 books will be your lighthouses: they guide, educate and inspire, writes Entrepreneur.

Photo: iStock.com/seb_ra

This is not just a set of words, but, as the expert says, a repository of wisdom.

“I want to share five books that have deeply influenced my business thinking and approach. This is not just a reading - it is an experience that has shaped my worldview. These books offer lessons that go far beyond the pages,” said expert Roy Dekel, CEO of SetSchedule, a US software company specializing in big data and artificial intelligence technologies.

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“These books taught me the art of negotiation, the importance of risk-taking, the science of habit formation, successful application development, and the power of small innovations,” he explained.

For new business owners, Dekel says, these books are an invaluable resource. They offer not only strategies and advice, but also real-life lessons and even inspiration. Reading them is like talking to some of the brightest minds in business and innovation.

1. Mastering negotiations with “Never Split the Difference”

“Never Split the Difference” by Chris Voss - not just a book. It's a gateway into the mind of an FBI hostage negotiator. Voss shares negotiation strategies that will radically change the way you approach business relationships.

Voss's emphasis on emotional intelligence and understanding the psychology of the enemy, Dekel said, was enlightening. “The concept of 'tactical empathy' resonated deeply with me and taught me to actively listen and use my ideas to positively influence negotiations,” he noted.

Most importantly, this book is more than just a read about making deals. It's about understanding the human element in business and using it to create win-win situations. The techniques presented are practical and can be applied to various aspects of business - from sales to conflict resolution.

2. Taking Risks with “Skin in the Game”

“Skin in the Game” by Nassim Nicholas Taleb is a philosophical treatise that challenges traditional ideas about business. Taleb argues that taking a vested interest in one's ventures is key to understanding and managing risk.

“This book changed my perspective on responsibility and decision making. It's about the moral and practical consequences of taking risks and how important it is to understand the consequences of your decisions,” Dekel admitted. “Adopting this principle has changed the way I approach business risk, leading to more ethical and sustainable practices.”

Taleb's ideas about the asymmetry, randomness, and unpredictability of life are especially relevant to entrepreneurs navigating the often volatile business landscape. This book is a must read for those who want to understand the nuances of risk taking and make decisions that are consistent with the long-term viability of the business.

3. Create products that attract users using “Hooked”

Book “Hooked” by Nir Eyal offers a fascinating look at the psychology of why some products attract users and others don't.

The “hook model” that Eyal introduces is a game changer in product development.

“She taught me how to create products that not only attract users, but also turn them into loyal customers,” Dekel said of the book. “The four components of the model—trigger, action, reward, and investment—became the cornerstone of my approach to product design.”

Eyal's understanding of consumer behavior and habit formation is invaluable, especially in today's highly competitive markets.

By applying these principles, you can develop products that effectively attract users so they won't hesitate to buy again.

For entrepreneurs in the digital age, understanding and implementing Eyal's model is critical to creating outstanding products.

4. Billion Dollar Apps in “How to Build a Billion Dollar App”

George Berkowski's book “How to Build a Billion Dollar App” is a practical guide that reveals the secret to creating a successful mobile application. Drawing on his experience with Hailo, Berkowski offers a comprehensive application development plan.

“The book became a beacon for me during my technology projects. “It offers in-depth insight into every aspect of app development, from ideation and financing to team building and scaling,” Dekel noted. “Real examples and practical advice are invaluable, especially for entrepreneurs in the fast-paced world of tech startups.”

Berkowski's step-by-step approach simplifies the complex process of app development, making it accessible to anyone who has a great idea and the desire to bring it to life. His work is evidence that with the right approach, determination and understanding of the market, creating a successful application is achievable.

5. Cultivating Innovation with Little Bets

“Little Bets” by Peter Sims is about experimenting and learning from small failures to achieve big successes. This concept revolutionized the way we approach innovation and problem solving.

Sims advocates taking small, manageable bets or actions to test ideas and quickly learn from the results.

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“This approach encouraged me to embrace failure as part of the entrepreneurial process and view it as an opportunity to grow and learn,” Dekel concluded. “Furthermore, adopting a ‘small bets’ philosophy has fostered a culture of creativity and sustainability in my businesses.”

This is especially true in today's fast-paced business environment, where adaptability and rapid learning are the keys to success.

To illustrate how this approach can lead to significant breakthroughs, the book provides examples from a wide range of industries.

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