Episode 389: 7 Business Books For A 7 Figure Mindset
Business growth and personal development often go hand-in-hand, creating a powerful symbiotic relationship that propels entrepreneurs toward financial milestones.
In this episode, Adam unpacks a treasure trove of literary wisdom from his list of 7 books that can make you a MILLIONAIRE. Drawing from his personal experiences as a seasoned entrepreneur who has effectively built several multi-million dollar businesses, Adam delves into the world of tactical and strategic business literature.
Adam talks about the “The Little Book of Business Wisdom” by Peter Krass as a foundational text and so much more.
Show Highlights:
- Mentorship Matters: Learn from the principles and strategies of historical business leaders as detailed in “The Little Book of Business Wisdom.”
- Small Changes, Big Impact: Embrace incremental improvements with “The Compound Effect” to gradually achieve significant business success.
- Human Dynamics: Understand people and relationships better to enhance business operations by reading “The Laws of Human Nature.”
- Strategic Execution: Implement actionable business strategies from “Mastering the Rockefeller Habits” and learn to lead with “Winning.”
- Power and Leadership: Gain insight into power dynamics and leadership through Robert Greene’s “48 Laws of Power.”
Links Mentioned:
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Adam’s website: https://adamstott.com/?el=Pod
Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod
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Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod
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Transcript:
Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
[00:00:00] Adam Stott: Seven business books that I’ve got right here that can take you to seven figures, no matter where you’re starting from. And these books that we’re talking about today, these are books that I’ve personally used in my business journey that have helped me to achieve building multiple businesses. not just seven figure, but eight figure businesses and help me to really understand the landscape of business.
[00:00:25] Now there’s all different types of business books out there. There are your autobiography type business books, which I love and I find super helpful. And you should go and read as many of them as you possibly can, but that’s not actually what we’re going to focus in today on. fabled stories, which I really love also.
[00:00:43] And those fable stories tell you deep metaphors on how business can help you. And I love those too. But what we’re going to focus on today in these seven, these are tactical, practical, and strategic business books. I’m going to do it in order. So if you’re watching this and you’re a business owner right now, you’ll know where to start depending on your journey and how you can move towards becoming that seven figure entrepreneur.
[00:01:09] that creates a success that they’ve always dreamed off. So let’s get started. Now, the first book that I want to talk to you about is a book that you can see is very well used. I’ve read it many, many times. It’s called the little book of business wisdom, and it was written by Peter Crass. And what I love about this book is that I truly believe that every Business owner out there needs mentors.
[00:01:33] They need coaches because success leaves clues, as I’m sure you’ve heard before, and having the opportunity to learn from people have been there, done it, got the T shirt many times over is critical. And that’s what this book is. It takes The 50 biggest business leaders of all time. And you dive into their principles.
[00:01:54] So you’ve got Bill Gates’s principles of running a business in here. You’ve got Michael Dell’s principles of running a business. You’ve got Jack Welsh, an amazing executive. You’ve got Andrew Carnegie. You’ve got all the big time. Famous successful entrepreneurs literally telling you their playbook. You can turn anywhere anytime to this book and find business wisdom.
[00:02:18] So that’s just, this is a random page almost without exception. There is only one way to make a great deal of money in the business world, and that is to own a book. One’s business. A man who wants to go into business for himself should choose a field. He knows and understands. Obviously, he can’t know everything there is to know from the beginning, but he should start until he’s acquired a good, solid knowledge of the business.
[00:02:41] And the businessman should never lose sight of the central aim of their business to produce more. and better goods and better service than anybody else at a lower cost. And that’s a principle there that we’ve just jumped to randomly. And that is from J. Paul Getty, one of the richest men in history, which is incredible.
[00:03:02] And I just love this. You know, I’ve read it many, many, many, many times. Uh, it sits on the side. And whenever I need a bit of a inspiration or motivation, I’m picking up this book and I’m reading those principles. And how does this get you to seven figures? Well, All the people in this book have been the richest men of their time.
[00:03:20] They are millionaires, billionaires, the most successful people of all time. And you’ve got an opportunity to learn their tips, their strategies, their playbooks. And this gives you an amazing grounding for becoming a truly successful entrepreneur. So start there. The little book of business wisdom is number one.
[00:03:39] So the next book is the compound effect. And this book got given to me by one of my coaches, a mentor, a guy called Brent. And it really helped me at one of the early stages of my business when I had big dreams, big goals, and big ambitions, but I didn’t quite know how to get there. I was given this book and I started to read it.
[00:03:59] And it really helps you with understanding the creation of habit and how habits play a role in success. So it’s an incredible book and one that I highly recommend. Now the compound effect is written by Darren Hardy. Darren Hardy really talks in this book about the philosophy of how small habit changes, small little wins over periods of time lead to big things.
[00:04:28] This has influenced me in a big way. It’s also helped me to become a better coach, a better trainer. Because when I train businesses now, I say to them, it’s very simple. Look, you’re trying to learn to become a great marketer and you can’t go from where you are now and tomorrow just be a great marketer, but you can get 1 percent better a day at your marketing.
[00:04:48] You can change your headlines. You can split test your landing pages, just marketing as example, but it can be any, you can’t become a great manager in, in one day, but you can become a great manager over 365 days. Well, why does that work? Because we’ve got 1 percent better a day, in a year’s time, would be 365 percent better.
[00:05:08] And that principle, and the way I train people, a lot of it actually originated from this compound effect. Because I started making small, mini changes in my life. And I watch those mini changes compound into growth. And one of the reasons I’m recommending this book and why it sits in that range of how you become a seven figure business owner is sometimes it can feel like your targets are a long way away.
[00:05:36] Sometimes you can say to yourself, I’m never going to get there. Sometimes you can become distracted and not follow through on what you should follow through to get results. And when you read the compound effect, it really explains to you, as long as you are moving in the right direction in small steps, every single day, you’re going to end up at your goal.
[00:05:56] And it allows you to learn one of the critical elements of being a great business owner, which is So it’s a really incredible read. I highly recommend it. It made a big difference to me early in my journey. So if you’re a bit earlier, you know, and you’re not sure where to start, this is a great book that can get you on the way to success to becoming that seven figure business owner.
[00:06:19] Hey everyone, hope you’re enjoying the podcast. We’ve got a free training that I’m doing right now online from the comfort of your own home called Stand Out Brand. What this does is it shows business owners how to. how to get noticed on social media, stand out, get more leads and get more sales. So if you want to make more money in your business, head over to Adam stop.
[00:06:41] com forward slash S O B that’s Adam stop. com forward slash S O B and join us on the free three day workshop stand out brand. So now you’ve got 50 of the world’s billionaires and most successful people in your pocket. You’ve also got The patience of habit change and the creation of the compound effect.
[00:07:04] What do we need next? Well, the next book is called The laws of human nature. Now the reason I smile as I tell you this one is because some of you may have experienced this as you’re building a business, you’re going on that journey to becoming a seven figure entrepreneur. You want to be a millionaire.
[00:07:25] You are going to have some ups and downs and many of those ups and downs that could kick you off track in your patience and your compounding effect can be driven by other people. You’re probably going to get some people saying to you that, You can’t do it. You’re probably going to get some naysayers around you.
[00:07:43] In fact, some of you may have had that already where you’ve talked about your big goals and your big dreams and people not encouraging you. And that can leave you feeling demotivated saying to yourself, why am I even bothering? Because it takes time. And if you’re not seeing the results, it can knock you off track.
[00:08:01] So the reason that I’m recommending this one is this will talk to you, tell you and explain human nature. Now, business is all about people. Relationship capital is more important than financial capital and understanding the way that people are, the way that people make decisions, the way that people do things can really allow you to navigate the world.
[00:08:27] The world of business so much more efficiently because if you take the emotion out and you get to the point where you are able to move through things quicker, not get distracted, not be pulled off track, your success is going to start to compound a much, much, much faster. So an incredible book by a great author.
[00:08:49] called Robert Greene. Um, I highly recommend it. It is like literally getting a, you know, a PhD or a business degree in psychology in just one book. It’s incredible. So make sure you put that on your list. And remember business is about business. people. So now you’ve got 50 of the world’s most successful mentors in your pocket.
[00:09:11] You’ve got the patience and the compounding effect. You understand people better. Now it’s time to get practical and strategic in building that seven figure business out. Well, this next book is very little known. Yet very powerful. It’s called Mastering the Rockefeller Habits, and it is by Vern Harnish. I say it’s little known, but I don’t know many entrepreneurs that have read it, and I know that it had a powerful impact on me.
[00:09:39] It gets really practical. Into the process of what you should do when you’re running your business. It talks about meeting rhythm, which is something that I’ve personally implemented in all the businesses that I’ve run. I found it very, very useful for allowing my whole team to get on the same page. It’s great for culture.
[00:10:00] And it’s based off of when we say the Rockefeller habits is based off of how Rockefeller ran his businesses and being one of the best business owners of all time, learning his habitual. Elements for building a business is critical and very important. So I absolutely love the book. I think it’s super powerful for established business owners.
[00:10:19] And as we build towards seven figures and beyond, this is one you’re going to want to read. Okay. So now that we’ve got that in play as well, we’ve got strategic playbook on building the business out. We really want to get to the point where we’re winning. We’re making more money. We’re driving the business forward and there’s no book better for that.
[00:10:37] Well, she’s winning. Now this is a super, super powerful book. I remember reading this very early into my entrepreneurial journey. One of the things that stands out to me hugely is Jack Welch talking about candid conversations. Now this is something that I personally, and many business owners that I know when they’re early into a business, they don’t like having the difficult conversations with people.
[00:11:04] They don’t like having strong conversations. And it’s something that hold business owners back. And, you know, I remember many, many times when I felt like people had let me down. I felt like we were moving further away from our goals. You know, I remember times where I was struggling to get the team on board with different ideas.
[00:11:23] And this book really helped me. to make sure that I held people accountable. I had those candid conversations that needed to be had. I stopped shying away from those things. Instead, I started tackling them head on. It really is an incredible resource for really Building your backbone as an entrepreneur and gaining strength because the bottom line is, you know, if you want to be successful in business, you are going to have to have an element of toughness.
[00:11:52] And many people that get into business are so driven by making an impact, so driven by helping people that they don’t go and have those tough conversations and they shy away from it. So I think this is super, super powerful. Um, it’s very good for business owners. It’s very good for people pleasers. If you’re a people pleaser, you’ve got to read this.
[00:12:09] If you’re someone that avoids those conversations, you’ve got to read this because it’s going to help you to do that. It’s an incredible book. It’s called Winning by Jack Welsh. So the next one is, is a book that’s super powerful and I’ve read this a few times over the years. It’s called The 21 Laws of Irrefutable Leadership.
[00:12:27] It is by John Maxwell. And most recently I was reading this book on a beach in Hawaii, in Maui, and I was sitting there reading it and I just, it was firing me up so much as I was reading it because it just kept giving me, you can see I’ve got all the pages turned over here and stuff like that. It just kept giving me more and more ideas of how I could lead people better, how I could develop people, help them to succeed.
[00:12:53] And I really feel that leadership is a hugely underrated topic in business. If you want to be a seven figure business owner, and even if you want to get to bigger than that eight figure business owner, you gotta be able to lead and communicate with people. Now in here, what, one of the things I really liked specifically about this book, you didn’t see, I’ve got my notes in the back of it.
[00:13:14] One of the things I really liked about this book is it gives you a leadership leadership. test. So it gives you a 21 laws evaluation and it really tells you where you stand as a leader and how good a leader you currently are. And if you’re like really honest with yourself and really transparent and you go through this book and you test yourself, you’ll find out very quickly where you sit.
[00:13:37] Now, another lesson from this book that I talk to my clients about all the time is a principle called The law of the lid. Now, the law of the lid is this, and this applies to all the books we’re talking about here. If you want to make more money and you want to get to that seven figure stage, the law of the lid is what’s stopping you.
[00:13:56] Some people want something, they want a magic wand that’s going to make them rich. And I get that, but it don’t quite work like that. The way it actually works, and it talks about it in this book. book is that everybody has a lid over their earning potential. Everybody has a lid in their ability to make money.
[00:14:12] And that lid is related directly to your skillset. So for example, if you can’t lead, it is going to put a lid over your ability to generate revenue. So let’s say you’ve got a six figure business, you’re doing a hundred thousand a year. And you want to get to a million pound a year. If you don’t learn to lead, you’re going to keep hitting that lid that you can’t break through.
[00:14:33] That’s going to keep you to the six figures. Now, if you remove the lid, which you’ve learned leadership skills, like we’re talking about here, all of a sudden you start to rise and you start to make more money. Now the law of the lid doesn’t just come in in leadership. It’s referenced here in leadership, but it comes in in sales.
[00:14:49] It comes in in marketing. It comes in in branding in every different element of your business. And that is what you’ll find in this book, a deep dive into the law of the lid and how you can become. a better leader. Now our final book is another one by Robert Greene. We talked earlier about his laws of human nature.
[00:15:10] Uh, the last book is Robert Greene’s 48 Laws of Power. And look, you can see how many times that I’ve read this. You can see it’s very crumpled. Uh, I’ve read it in the swimming pool. I’ve read it in the hot tub. I’ve read it many, many, many times. And one of the reasons I absolutely love it is because it does some fantastic storytelling from history, it does some fables, some metaphors, as well as real principles of how you can build your power.
[00:15:42] and keep going and become more powerful. It really gets you to understand people, understand the dynamics of business, the dynamics of making money, and so much more. Now, these books together, uh, and especially this one as a last one will power you up in a huge way to really discover your potential and go out and build that seven figure business.
[00:16:03] Let’s just have a recap of them all. We’ve got the little book of business wisdom. That little book of business wisdom is getting the 50 leaders of all time that are millionaires, billionaires, super successful people, you’re putting them in your pocket as mentors. So anytime you get stuck, you can read their playbook, you’ll understand and get advice from the world’s best.
[00:16:26] That’s going to help you to come up with great ideas, to innovate, to help you get unstuck and so much more. From there. We’ve got that compounding effect. Now, what this is going to do is sometimes where you feel like you’re on the journey and you fall off, it’s going to get you to keep going and keep moving towards your goals.
[00:16:44] So even if you feel like you’re a million miles away from seven figures, what you’ll understand with the compound effect is how to move towards it quickly. We then have the laws of human nature. Remember this, if you’re going to build a business in the beginning, When you’re a startup business, it’s 90 percent you.
[00:17:01] It’s 10 percent other people. But when you grow your business and you’re growing your business to a million pounds, it’s 50 percent you, 50 percent other people. So we’ve got to make sure that we understand people, we understand how they think, we understand how they tick. That’s going to help you move out of small business to million pound business.
[00:17:20] We then got the strategies in the masters of the Rockefeller habits. That’s going to give you the strategies, the techniques you can put into your business. And if you’re listening to this as a six figure, seven figure, even eight figure business, this is awesome. We then show you how to win with Jack Welch.
[00:17:36] Having those direct conversations, you’ve got the leadership from John Maxwell. And then finally, You’ve got the ability to power up with Robert Greene in the 48 Laws of Power. Now, all of these books are going to take you on the journey, help you to get amazing results. I hope you’ve enjoyed this video, whether you’ve been watching on YouTube or you’ve been listening along, wherever you’ve been watching or listening, uh, tell us your feedback.
[00:17:58] Tell us if you’ve read these books, maybe go and comment your favorite book and some of the lessons that you’ve learned. You’ve really enjoyed and have had a powerful impact on you. If you’ve been watching on premium, go and save the video so you can come back to this later. If you didn’t get to see all of it, or if you skipped ahead to try and find out what the books were, it’s really worth going back, rewatching this and seeing those individual points because you’ll see how they can build you towards the results you want.
[00:18:29] So you come to the end of the video, I’m guessing you must have liked it there. That’s the case. Go and get yourself a copy of Millionaire Success Secrets so you can dive into my life, my ups, my downs, and how you can use the principles that I’ve figured out to take you to millionaire status. Go click the link in the description or head over to Amazon and get yourself a copy of Millionaire.
[00:18:50] Success Secrets. Hey everybody, Adam here, and I hope you love today’s episode. Hope you thought it was fabulous. And if you did, I’d like to ask you a small favor. Could you jump over and go and give the podcast a review? Of course. I’ll be super grateful if that is a five star review with putting our all into this podcast for you.
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