Entrepreneur Mark Cuban does it 3 hours a day. Billionaire Warren Buffet devotes six hours a day to it. At age nine, Tesla CEO Elton Musk was doing it 10 hours a day. Just what are all of these high achievers doing? Reading. So if you want to be a more successful business owner, start cracking those books open.
Backed by research
This connection between reading and success isn’t just coincidental. It’s been supported by several research studies:
How reading fuels business success
What is it about reading that helps entrepreneurs become more successful? The takeaway from this research points out that reading serves as a:
Basis for skill development
Entrepreneurs use reading to develop new business skills and insights. With each book, they could apply what they learned to a current problem. That may have provided context to their learning which made the payoff more immediate.
“Reading is an investment that has paid for itself many times over,” Mark Cuban said. “All it takes is one little thing to propel you to the next level.”
Source of inspiration
Reading stories about innovators can be inspiring. Learning how others overcame an obstacle can provide owners with the motivation they need to solve their own challenges.
Life coach guru Tony Robbins said, “Reading could transport me to another world where I could find the answers.”
Catalyst to better health
Reading has benefits to physical and psychological health too. Business owners can better manage stress and depression. That gives them the perspective to keep moving forward.
Media mogul Oprah Winfrey said, “Books were my path to personal freedom. I discovered that there was a whole world to conquer beyond our farm in Mississippi.”
Think about it, if you get one idea a month from whatever you read, that’s 12 new ideas you can use to grow your business each year. Here are some ideas to start the reading habit:
Take a page from successful entrepreneurs and make reading a regular part of your business day. Start with Warren Buffet’s challenge to read 500 pages every day. “That’s how knowledge works,” he said. “It builds up, like compound interest.”