Many millennial entrepreneurs are eschewing the path of pursuing an MBA degree in favor of seeking a more do-it-yourself education in how to be a successful entrepreneur or small business owner. A common trait of successful entrepreneurs is aggressively seeking to better educate themselves. Heather Pace, founder of the Victoria-based dessert company Sweetly Raw Desserts, attended a traditional culinary school to sharpen her cooking skills but is largely a self-taught successful blogger, small business owner, fitness instructor, and author. Daniel Piiiai, the hugely successful celebrity interviewer and host of two talk shows on Canadian television, has built a media empire for himself without the benefit of a formal business degree. Organizations such as Startup Canada connect aspiring entrepreneurs with resources such as business mentors and classes that provide step-by-step guides to starting a small business. However, it’s also possible to just educate yourself in entrepreneurship utilizing books on the subject that were written for and often by entrepreneurs.
“The 4-Hour Work Week”
“The 4-Hour Work Week” by Timothy Ferriss, with the tantalizing subtitle “Escape 9-5, Live Anywhere, and Join the New Rich,” offers aspiring young entrepreneurs inspiration and innovative ideas for creating a business empire and wealthy lifestyle. The book details Ferriss’s own interesting journey from working 80 hours per week for $40,000 a year to working four hours a week for $40,000 a month, and then goes on to provide instructions and tools for creating an automated income that requires very little time to maintain, thus freeing you up to pursue other entrepreneurial projects. One of Ferriss’ key lessons for aspiring entrepreneurs is to surround yourself with hugely successful people while disengaging yourself from discouraging, pessimistic friends who say, “It can’t be done.”
“The $100 Startup”
Chris Guillebeau’s “The $100 Startup” goes right to the heart of the challenge for most entrepreneurs: How do I turn my great idea into a successful business with virtually no startup capital? The numerous and varied success stories that Guillebeau recounts in his book in all, 50 case studies of people who launched their own small business with just a minimal investment show how it’s possible to monetize the things that you’re especially skilled at and love doing. In short, Guillebeau provides a roadmap or rather, 50 different roadmaps for turning your passion in life into your own entrepreneurial success story. One of the main takeaways from this book is the idea that becoming a successful entrepreneur is all about identifying the marketplace intersection between the unique skills and talents that you possess and goods or services that people are willing to pay for.
“Rich Dad, Poor Dad”
The “Rich Dad, Poor Dad” book series by Robert Kiyosaki and Sharon Lechter offers a complete financial and business education, making it an ideal read and learning tool for young entrepreneurs. “Rich Dad, Poor Dad” teaches all the fundamental economic and financial lessons that are sorely missing from public education. Kiyosaki clearly communicates a large amount of helpful information, covering everything from creating your own business to wisely managing investments. This classic could easily be subtitled, “Everything you need to know about money, business, and life.”When you are first starting out as an entrepreneur, it is important to keep an open mind and take everything as a learning experience in order to achieve success.