I love exploring the books on my friends book shelves especially the business finance or personal development books.
Have you ever walked into an entrepreneurs home or office and felt a pull or intrigue about the books on their shelves??? Wondering which one made the biggest impact on their success….
And, as a lifelong avid reader, I’ve discovered that my journey as an entrepreneur has created a deep connection with certain books—books that not only captured my imagination but also left a lasting imprint on my life and business.
In this vlog post I want to share with you my top 5 favorite Business Finance Books. These books have inspired and guided me in my business and my life. I believe they have the potential to impact you as well.
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Watch this video for my insights or continue to read below it:
Rich Dad, Poor Dad
This book Rich Dad, Poor Dad by Robert Kiyosaki was the first impactful read for changing my mindset around money.
The power of passive income and how rich people think differently about money than the general public.
Kiyosaki advocates for a different mindset towards money and encourages readers to think like investors instead of employees.
Since it was first published in 1997 there has been a lot of praise and of course some critics. This is overall a very easy and impactful read. Some parts may seem simplistic, maybe a little risky. Read the book with an open mind and see where it leads you. Seek out a financial advisor or business mentor that understands your risk level and respects that.
Which ultimately is the premise for this book. Take control of your finances, seek out financial education, invest in assets that generate passive income, and adopt the mindset of an investor or entrepreneur.
As the title of this book eludes to it is a contrast between the advice Robert Kiyosaki received from 2 prominent men in his life. His natural father who he refers to as his ‘Poor Dad’ and his friend’s father who become his business mentor and referred to as ‘Rich Dad’.
Poor Dad Advice
• The value of education and hard work.
• The priority of job security and a steady paycheck.
• Live below your means and save money for the future.
• Be cautious about taking risks and avoid debt.
• Wealth is measured by the amount of money you make.
Rich Dad Advice
• Seek out financial education and financial literacy.
• Invest in assets that generate passive income, such as rental properties, stocks, and businesses.
• The value of taking calculated risks and overcoming the fear of failure.
• The importance of networking and building relationships.
•Wealth is measured by the amount of passive income you generate.
One Minute Millionaire
This book is uniquely structured it reaches both your left and right brain.
On one side of the book it is analytical and has very specific directions. It is step by step on how to become an enlightened millionaire.
The other side is a story. Although the authors are both men the story is written from a women’s perspective. This is a heartwarming story of a mother whose excuses have been stripped away. There is no option, BUT for her to make a million dollars in 90 days.
There are many things in this book you can put into action right away in your life and business but, one of the main things I discovered is there are a million ways to a million dollars. The excuses we tell ourselves are just that excuses.
If the business education you have received thus far isn’t working for you. Discover why and pivot, excuses keep you stuck. The skill to look inside yourself and discover your greatness makes you an enlightened entrepreneur.
Profit First
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine. (That is what they promise….)
How does this promise hold up?
I will tell you right up front “I love this book!!” I will also be honest and let you know I have not completely read it. I have read the first 8 chapters, but I jumped right into implementing it after I read – 4 chapters.
When I did go back and read some more I discovered several things I could tweak and make the system work even better for our company.
Michalowicz is re-framing some hard-core beliefs people have around business finances. He states traditional accounting wasn’t built for humans. It was designed for rational, number crunching, robots —i.e Accountants.
To tell you the truth this is more than just a book it is a complete money management system that is written in plain English. Legit easy to understand and easily implemented.
Profit First flips the traditional accounting formula of: Income – Expenses = Profit which is treating profit as an afterthought to Income – Profit = Expenses. It seems like the same thing, but when you limit how much you can spend on your overhead (expenses) you become more diligent with what you spend it on. It’s the same effect for weight loss diets you limit portion sizes by using smaller plates.
Bonus
As with many budgeting, money-management tools and books Profit First system is all about putting your money in different accounts (buckets, envelopes, etc).
The bonus I have discovered with Profit First is they have actually partnered with an online bank Relay Financial. This bank has made it super simple to implement the Profit First system. You can open multiple accounts with no fees and automatically distribute your funds with the assigned percentage into the different accounts. In addition to it being an online bank you have access to certain ATMs to deposit cash if needed.
The Science of Getting Rich
“There is a science of getting rich, and it is an exact science, like algebra or arithmetic. There are certain laws which govern the process of acquiring riches, and once these laws are learned and obeyed by anyone that person will get rich with mathematical certainty.” – Wallace Wattles
To some of us that sounds to good to be true right?? When I first heard about this book I’m not going to lie I thought oh that is complete ‘Woo Woo’ and things that aren’t real.
Then I gave the book a chance and with an open mind read the book. It challenged me and gave me a new, amazing perspective on the Law of Attraction and what manifesting actually is.
One of the over arching messages in this book is one of abundance. There is enough to go around for everyone, is a strong base message throughout the book. Once you believe in abundance creativity will transform the abundance into wealth. Competition will never lead to riches.
This book is over a 100 years and is available in the public domain as a free downloadable pdf or if you would like a physical copy you can get it here: The Science of Getting Rich.
Unlocking My Millions Business Playbook
Truth Bomb Academy™ has designed this incredible business plan template for just for women entrepreneurs. It has become extremely clear for too long women have been suppressing their unique greatness in building their businesses.
We have been consumed with modeling what men have done and taught us to do. It was the business building model that they knew and has been proven successful for hundreds of years.
Women I have to tell you you are not a man…I know that may shock you 😱LOL. We have been modeling men for too long and it has been failing us. Here in Truth Bomb Academy we are done hearing how women are overwhelmed and quitting their business and their dreams.
We are flipping the script and more women are creating the business they actually want.
This unique business playbook is prioritizing what is important to women. Women are now experiencing more time for what is important to them and not getting overwhelmed with all the to dos of building their business.
Unlocking My Millions is our entire business planning and playbook course, because our purpose and passion is to reconnect you to your body, mind, and spirit as you build your business. Honoring the feminine energy and unique talents you bring to your business.
Get Access and Choose the Best Path For You
This is NOT your traditional business model. Creating a business plan can take anywhere from 30-90 days. After that, you will need ongoing support and resources to ensure you and your business thrive.
We offer a ‘Do It Myself’ or a ‘Done With You’ options. Allowing you to choose the best approach for you and your business. With the ‘Done With You’ option Monthly membership (after 2 months) is less than a cup of Starbucks coffee a day. Get your Business Playbook today by choosing the best approach for your business.
We look forward to seeing you at the training and inside the community!
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Your Sisters in Business,
Heidi Mummau 🥂
P.S. Deb Andrews was in sever business burnout – walked away from her business for almost a year. Didn’t know if she even wanted to have another business, not if she had to continue doing it the way she had been. But she was curious about “Unlocking My Millions” and this new approach to business that we developed for women. She said,
“I feel like a new woman with this training. I’m not dreading my business and I can see a healthier path to building and growing my business. It doesn’t feel overwhelming!”