Recommended Reading
Below are some books that we’ve found value in and that have helped shape our businesses and our personal lives. If you’re looking for a good read to help take your business to the next level or to help you take your personal life to the next level, we recommend you start with these books. We will continue to add to this list as we read more books that shape us and our businesses.
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We hope you and your businesses grow as much as we have through reading these books and others. Also, we’re always grateful for great book recommendations, so if you have any must-reads that aren’t on this list yet, let us know what they are so we can read them and recommend them! Happy reading!
BUSINESS DEVELOPMENT BOOKS
Recommended by The Laundromat Resource Podcast guest from Show 3, Toby Dankbaar, the Lean Startup advocates a Build-Measure-Learn feedback loop in order to determine what customers need, want, and will buy as quickly as possible. This practical book cuts out assumptions and helps you build systems to get the answers you need to build a successful business.
The E-Myth Revisited is the perfect book for the laundromat (or any business owner) who wants to set up a business that is capable of running independently of them as the owner. It outlines practical ways to implement a franchise model that can be easily grasped by others and duplicated in order to allow you to remove yourself from the business and scale if you desire to.
Recommended by The Laundromat Resource Podcast host, Jordan Berry, in Show 4, The 4 Disciplines of Execution is a must-read for anyone who wants to achieve all of their wildly important goals. This book will teach you how to cut out the whirlwind that overwhelms your life and keeps you from focusing on the tasks that will drive you toward your goals. We utilize these principles here at Laundromat Resource and highly recommend you do, too.
This incredibly influential, and somewhat controversial book has shifted the thinking of more people, perhaps, than any other book. Countless laundromat owners, real estate investors, and business owners that we have spoken with, including our own founder, Jordan Berry, credit this little purple book as the beginning of their realization that the rich buy assets before liabilities to fund their lives. Technically a personal finance book, it has led many people into entrepreneurship and real estate investing. If you haven’t read it, read it.
Traction is an incredible book that that shows you step-by-step how to build an operating system that allows you to think bigger, scale your business, and helps you remove yourself from the day-to-day of the business. You will also be challenged with 4 mindset shifts that you must make in order to build a successful business that is not 100% reliant on you. For the entrepreneur who wants help creating an operating system to run their business, Traction is the book for you!
If you’re interested in the wisdom gained from 40 years of investing experience by the billionaire who is the most successful fund manager in history, then you might want to get a pen and paper out to take some notes as you read this book. It is literally packed full of life-changing wisdom on life and work. This one is not only a must-read, it’s a must-read every year! This is one book I definitely recommend that you own a print copy of. You’ll want to reference it often.
In our opinion, this is THE textbook on how to negotiate. Written by the top FBI hostage negotiator, this book is will make you a better business or real estate negotiator, as well as a better negotiator with family, friends, and even your own kids. Packed with simple to implement and powerfully effective negotiating strategies, it is also peppered with gripping stories and examples from the author’s own experience in the FBI, in business, and in his personal life. This is one book I highly recommend consuming in the audio version, as the reader, Michael Kramer, is phenomenal and takes this incredible book to a whole new level.
BUSINESS FINANCE BOOKS
In all honesty, this is tough one to grasp at first. We hear from business owners all the time that the concept of paying yourself first just isn’t realistic in their business. I’ve felt that way, too. However, Profit First not only insists that this is the whole point of owning a business, but also paves the way to paying yourself first in your business with a practical framework and structure to accomplish this and overcome the obstacles you will face in implementing this.
Have you ever wondered why the rich pay less in taxes than everyone else? Well, it turns out that they just put more effort into utilizing the tax law to their advantage. You get to have one of two responses: 1. Resent the rich and complain, or, 2. Learn the strategies they use and utilize them in your own finances to lower your taxes legally! This book gives a great foundation on how to do exactly that!
PERSONAL DEVELOPMENT BOOKS
Making changes in our own lives can be difficult. But, as the saying goes, if you want a different result in your life, you have to do something different. This book expounds on 7 habits that you can implement in your life to help you become the person you want to be and to help you accomplish the things you want to accomplish. This book is a classic for good reason. It should be on any entrepreneur’s bookshelf!
Has your progress been slow getting to your goals in life. Do you ever look back and get discouraged at how little you’ve accomplished, or look forward and see just how far you have to go to get where you want to go? I have. Plenty of times. If you have to, YOU MUST READ THIS BOOK. This book is one of my favorites because it reminds me that, just like money in the stock market, my actions compound, either positively or negatively. But, the Compound Effect showed me that I can direct my income, my life, and my success by consistently applying small, strategic actions over time! Get it. Read it. Thank me.
At it’s core, I would say that this book is about optimizing your life and your business. The core question it suggests you ask yourself is: What is the one thing, that if you did it, would make everything else easier or unnecessary. Genius! This book transformed the way that I prioritize actions to help me get more done with less effort. I think Gary Keller has a thing or two in this book that will transform you for the better, too!
This book exposes the fact that we are creatures of habit. We do what we do mostly out of the habits we have developed. The natural progression of this thought is that if we want something different in life, something better, we have to establish new, and better, habits. This book will show you how powerful habits are in our lives and leads you to practical ways to replace inferior habits with better habits that will help you get where you want to go!
Piggy backing off of the Power of Habit, Brendon Burchard’s High Performance Habits uses research to identify habits that extraordinary people from all walks of life establish in order to become extraordinary. If you buy the principle that our habits make us what we are, this book is a must read if you want to become more than you currently are. Why not replace inferior habits with the habits that extraordinary people practice?
Another classic, this book is the Bible of interpersonal relationships. Dale offers insights into how to interact with people in a way that makes them like you, respect you, and follow you. If you interact with other people in any capacity, reading this book will greatly enhance your ability to communicate with them productively!
Yet another classic, Napoleon Hill’s best known work reveals how your mind is your greatest asset. In Think and Grow Rich, Hill shows you how to unleash the power of your mind to build your wealth. His 13 principles extracted from the wealthiest people of his time offer a unique perspective on how to use your mind to get wealthy. Although somewhat dated, there is still a ton of value to glean from this classic!
The Go Getter is small but mighty. It is a short story about a man with the odds stacked against him by life and by others, both unintentionally and intentionally. In a world where everyone desires quick and easy wealth, The Go Getter paints an accurate picture of what it takes to really succeed. Be prepared to be inspired, challenged, and a little scared of the lengths this man goes to to succeed.
A controversial author and a controversial book to be sure, but the 12 Rules For Life does make you think. I love the way he develops simple, yet profound rules to live by. Weaving in modern culture, ancient religions, human psychology, and anecdotal experience, Peterson offers up 12 Rules to live more balanced, enjoyable, and less chaotic lives. This book made me think deeper about how I want to live and it might do the same for you, too!
Are you sensing a theme yet? Our habits are IMPORTANT. This book is The Compound Effect, The Power of Habits, and High Performance Habits rolled into one. Atomic Habits offers four steps to both build good habits into your life and to break bad habits that are holding you back in life. Take a good, honest look at the habits you have and use this book to help you build good habits and purge the bad ones!
PERSONAL FINANCE BOOKS
This book is a powerful narrative that illustrates fundamental personal finance principles. Set in ancient Babylon, Clason weaves a story that follows the financial journey of various characters in an engaging way that will teach you how your personal wealth can grow by employing the principles learned by the characters throughout the story. This book is a refreshing way to establish solid personal finance principle. We highly recommend the audio version of this book for added effect!
We admit it, this one is a little controversial. Some people love it, some accuse it as being fluff. We love it though! Although Harv can be a bit brash and aggressive, there’s no doubt in our minds that what he teaches in this book will challenge your mindset regarding wealth in the best ways possible. We highly recommend you go through it at least once! I, personally, listen to the audio book about once a year!
Written by the author of the #1 best selling personal finance book, Rich Dad, Poor Dad, Robert Kiyosaki wrote another simple gem in Cashflow Quadrant. In it he makes the distinction of the four different ways people make a living and then makes a case for one side of the quadrant when it comes to building wealth. Simple yet profound seems to be the key to Kiyosaki’s successful book, and the Cash Flow Quadrant is no exception!
DeMarco bucks the system with The Millionaire Fastlane. Arguing that the traditional path of school, job, retire rich paradigm is not the best path, he advocates for a new perspective; a fast path; a Fastlane! Don’t get caught in the slow lane to building wealth. Compounding is great, but it’s slow. Why not build wealth now AND with compounding. Change lanes and get into the Millionaire Fastlane!
RENTAL REAL ESTATE
From the ultimate resource for real estate investing, Bigger Pockets, this beginner’s guide to investing in real estate will give you all the basics you need to get you started in your real estate investing career. We, at Laundromat Resource, believe in the power of real estate investing combined with laundromat ownership as a means to grow wealth rapidly. If you’re interested in real estate investing, this book is a great place to start!
Bigger Pockets once again provides a resource for anyone looking to manage their own real estate portfolio. We’re all about providing and recommending great resources here and for anyone looking to manage your own rental real estate, this is the book you need to read!
