Why Reading and Learning Matters for Entrepreneurs

Entrepreneurs are known for their drive and determination, but one of the most important qualities of a successful entrepreneur is a willingness to learn. One way to do this is by spending time reading and learning about new topics and ideas.

For me, it’s weekend mornings that find me catching up on the many blogs I follow, numerous newsletters and magazines to which I subscribe, and a multitude of articles and information I’ve bookmarked throughout the week. And yes, a few print publications, as well. Of course, it wouldn’t be complete without a great cup of coffee and the perfect spot for thought and reflection – on the patio, in an easy chair, at the park… essentially any place except in my office which is reserved for work.

An influence on my thirst for knowledge was Lee Iacocca, an American automobile executive best known for the development of the Ford MustangContinental Mark III, and Ford Pinto cars while at the Ford Motor Company in the 1960s, and for reviving the Chrysler Corporation as its CEO during the 1980s.

Iacocca authored or co-authored several books, including Iacocca: An Autobiography (with William Novak), and Where Have All the Leaders Gone?At some point while reading these books and anything I could find about Iacocca, I came away with something that sadly I can only paraphrase today, A man is not as smart by what is in his head as he is by the information he could put his hands on, and that information is in books.

Well, I’ve been hooked since. I’m a sponge for information and passionate about reading and learning about anything that can benefit me – mostly for business but more of late I’ve expanded my interests. Podcasts, videos, and the internet have taken my efforts to new heights. Who knows, maybe it’s an obsession, but quite frankly I love it all and couldn’t imagine my life without quenching my thirst for knowledge.

Coaching entrepreneurs for the past ten years or so, I’m adamant entrepreneurs make time for reading and learning. The benefits are just too great to ignore.

Firstly, the world is constantly changing, and entrepreneurs need to stay up to date with the latest trends and developments in their industry. Reading and learning can help them stay ahead of the curve and adapt to changing circumstances.

Secondly, reading and learning can help entrepreneurs expand their knowledge and skills. Whether it’s learning about marketing strategies, financial management, or leadership skills, entrepreneurs can benefit from a broad range of knowledge and expertise.

Finally, reading and learning can help entrepreneurs develop their critical thinking skills. By exposing themselves to different ideas and perspectives, entrepreneurs can challenge their own assumptions and beliefs, leading to more informed decision-making.

“Read 500 pages…every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.” – Warren Buffett (on the key to success)

However, despite the benefits of reading and learning, many entrepreneurs struggle to find the time to do so. Running a business can be all-consuming, leaving little time for anything else. Here are several strategies that I personally use to make time for reading and learning. These are the same strategies that I share with entrepreneurship coaching clients so they may benefit just the same:

  1. Schedule Time: Just as you would schedule time for meetings or other important tasks, schedule time for reading and learning. This could be a set time each day, or a few hours each week.
  2. Use Audio Books and Podcasts: If you don’t have time to sit down and read, consider using audiobooks or podcasts. You can listen to them while commuting, working out, or doing other tasks.
  3. Choose Relevant Topics: Choose books or articles that are relevant to your business or industry. This will ensure that the time you spend reading and learning is directly applicable to your work.
  4. Set Goals: Set goals for what you want to learn or achieve through your reading and learning. This will help you stay focused and motivated.
  5. Join a Book Club or Discussion Group: Joining a book club or discussion group can provide accountability and motivation to read and learn. It can also provide a forum for discussing ideas and getting feedback from others.

To summarize, reading and learning are essential for entrepreneurs who want to stay ahead of the curve, expand their knowledge and skills, and develop their critical thinking abilities. By making time for reading and learning, entrepreneurs can gain a competitive edge and set themselves up for long-term success. So, carve out some time in your schedule, choose relevant topics, set goals, and start reading and learning today.

“I read every book and magazine I could. Heck, three bucks for a magazine, twenty bucks for a book. One good idea would lead to a customer or a solution, and those magazines and books paid for themselves many times over.” – Mark Cuban

Resources & Support

My Favorite Books About Entrepreneurship

What Entrepreneurs Should Know About Reading

The 20 Best Entrepreneurship Books to Start, Grow & Run a Successful Business

31 Must-Read Books for Aspiring CEOs and Entrepreneurs

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important.

So, if you hit a wall, for whatever reason, please feel free to reach out to us for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach us on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851.

Learn more about Acceler8Success Group at Acceler8Success.com and at Entrepreneurship411.com.

Have a great day. Make it happen. Make it count!