My First Million – 3 Unconventional Books Every Entrepreneur Should Read

Intro

In this episode of “My First Million,” the speaker discusses three unconventional books that every entrepreneur should read. These books have had a profound impact on the speaker’s day-to-day life and business. From adventure stories to military accounts and business biographies, these books offer valuable lessons and insights for aspiring entrepreneurs.

Main Takeaways

Lessons from “Undaunted Courage”

• The book “Undaunted Courage” tells the story of Lewis and Clark’s expedition to discover the West in 1804.
• It emphasizes the importance of discipline and punishment, which is often lacking in today’s culture of being too nice and friendly.
• The story of Lewis and Clark shows that determination and leadership can lead to great achievements, even in difficult and unknown situations.

Leadership Lessons from Lewis and Clark

• Good leadership involves understanding and motivating individual team members.
• Effective leaders create rewards and punishments tailored to each team member.

Inspiration from “The Operator”

• The military book “The Operator” highlights the sacrifice and determination of soldiers, specifically focusing on Seal Team 6.
• Soldiers on suicide missions can inspire us to overcome our own fears.
• Preparation and practice are crucial for success in high-stakes situations.
• Having a clear commander’s intent helps in making decisions and saying no to things that don’t align with desired outcomes.

Business Lessons from John Rockefeller

• John Rockefeller broke stereotypes by valuing earning 1% off 100 people’s efforts over 100% of his own efforts.
• The ability to deal with people is as important as any other skill in business.
• Learning a skill is crucial before starting a company.
• Rockefeller was known for listening intently during meetings and speaking very little.
• Complimenting people before pointing out mistakes was a key strategy Rockefeller used to motivate and gain respect from his employees.

Summary

The Lessons from “Undaunted Courage”

“Undaunted Courage” teaches the importance of discipline and punishment in achieving great things. In today’s culture, where being nice and friendly is prioritized, this book reminds entrepreneurs that strict rules and punishment are necessary for maintaining high standards and creating a culture of excellence. The story of Lewis and Clark serves as a powerful example of how determination and leadership can lead to success, even in challenging and unknown situations.

Leadership Lessons from Lewis and Clark

Leadership is not a one-size-fits-all approach. Understanding and motivating individual team members is essential for effective leadership. By tailoring rewards and punishments to each team member, leaders can create a motivating and productive environment. The story of Lewis and Clark exemplifies the importance of recognizing individual traits and utilizing them to achieve great things.

Inspiration from “The Operator”

“The Operator” provides insights into the sacrifices and determination of soldiers, particularly those in Seal Team 6. Their stories of overcoming fear and excelling in high-stakes situations can inspire entrepreneurs to push past their own fears and strive for greatness. The book emphasizes the importance of preparation, practice, and having a clear commander’s intent to achieve desired outcomes.

Business Lessons from John Rockefeller

John Rockefeller’s approach to business challenges conventional wisdom. He prioritized earning a small percentage from the efforts of many people over earning 100% from his own efforts. Rockefeller understood the value of interpersonal skills and the importance of learning a skill before starting a company. His listening habits, complimenting strategy, and ability to deal with people set him apart as a successful entrepreneur.

Conclusion

These three unconventional books offer valuable lessons for entrepreneurs. From the importance of discipline and punishment to the power of determination and leadership, these books provide insights that can guide entrepreneurs in their journey. By learning from the experiences of Lewis and Clark, soldiers in Seal Team 6, and John Rockefeller, entrepreneurs can gain valuable knowledge and inspiration to succeed in their own ventures.