Founder CEO shares all the books that helped build a $100M enterprise | Daniel Ramsey
Summary
TLDRThis video highlights transformative books for personal and business growth, essential for building a $100 million enterprise. It covers books that inspire creativity, establish effective routines, and promote emotional resilience. Additionally, it discusses books on leadership, productivity, business scaling, financial management, and maintaining generational wealth. Each recommendation includes practical insights on the best stage of life to read and implement the knowledge. The speaker shares personal experiences and the impact these books have had on his success, emphasizing their value in overcoming business challenges and fostering a thriving business environment.
Takeaways
- 📚 These books will transform you as a human, business owner, and help you build family wealth.
- 💼 The books shared have helped the speaker build a $100 million business and have benefited his team and family.
- 🎨 'The War of Art' by Steven Pressfield inspires creativity and perseverance in business and art.
- 🌅 'Miracle Morning' emphasizes the importance of a productive morning routine for business success.
- 👥 'Tribe of Millionaires' highlights the importance of having a supportive network of peers, coaches, and mentors.
- ⚖️ 'Power Now' teaches the responsible use of power and understanding its impact on others.
- 📈 'The Millionaire Real Estate Agent' provides models for growing revenue, employees, and sustaining a business.
- 📚 '21 Laws of Leadership' by John Maxwell offers principles for leading others and improving leadership skills.
- 📘 'Personal MBA' breaks down essential business concepts like acquisition costs and margins for entrepreneurs.
- 💡 'Simple Numbers, Straight Talk, Big Profits' by Greg Crabtree is a guide to understanding financial metrics for business growth.
Q & A
What is the main theme of the video script?
-The main theme of the video script is the transformational impact of certain books on an individual's personal and professional life, particularly in the context of building and scaling a successful business.
What is the significance of 'The War of Art' according to the speaker?
-'The War of Art' is significant as it provides inspiration and a sense of understanding for the emotions and challenges faced by creators and business owners, making them feel less alone in their journey.
Why does the speaker emphasize the importance of 'Miracle Morning'?
-The speaker emphasizes 'Miracle Morning' because it is a routine that helps him start his day positively, which in turn positively impacts his team, family, and overall world, highlighting the importance of a positive state for a business owner.
What does the speaker suggest about the role of peers, a coach, or a mentor in a business owner's life?
-The speaker suggests that peers, a coach, or a mentor play a crucial role in a business owner's life by providing support, guidance, and a sense of community, which is essential for navigating the ups and downs of business ownership.
How does 'The 48 Laws of Power' help business owners according to the script?
-'The 48 Laws of Power' helps business owners by teaching them how to understand and wield power responsibly in their interactions with customers, employees, and family, thus avoiding negative impacts.
What is the speaker's view on formal business education?
-The speaker's view on formal business education is that it is not as valuable as learning from practical experiences and mistakes. He mentions that out of his business degree, only the accounting class was helpful.
What book does the speaker recommend for growing revenue, employees, and building a sustainable business?
-The speaker recommends 'The Millionaire Real Estate Agent' for its models on growing leads, revenue, and talent within a business.
How does '21 Laws of Leadership' by John Maxwell assist in leading others?
-'21 Laws of Leadership' assists in leading others by providing basic principles that can be referred back to when facing leadership challenges, helping to identify and correct mistakes.
What is the purpose of 'The Personal MBA' according to the script?
-The purpose of 'The Personal MBA' is to help understand various aspects of business that are not typically taught to entrepreneurs, such as acquisition costs, margins, and other business fundamentals.
Why is 'Traction' by Gino Wickman important for businesses crossing the $10 million mark?
-'Traction' is important for businesses crossing the $10 million mark because it teaches how to create org charts, operational systems, and systems of accountability, which are essential for scaling and managing a growing business effectively.
What does 'Venture Deals' offer to business owners interested in private equity and venture capital?
-'Venture Deals' offers insights into how private equity and venture capitalists think about businesses, including the metrics they value and how they determine the enterprise value of a business.
How does 'Unreasonable Hospitality' contribute to business growth?
-'Unreasonable Hospitality' contributes to business growth by teaching how to create a world-class culture within a company, which helps in retaining customers and receiving positive reviews, essential for scaling the business.
What are the key takeaways from 'Blueprint to a Billion'?
-The key takeaways from 'Blueprint to a Billion' are seven principles derived from the lessons of companies that scaled to over a billion dollars in revenue, providing a roadmap for massive enterprise growth.
How does 'Family Wealth Keeping it in the Family' by James E. Hughes Jr., help with wealth preservation?
-'Family Wealth Keeping it in the Family' helps with wealth preservation by discussing models for capital management, including financial, human, intellectual, and other forms of capital, and how to pass them on generationally.
Outlines
📚 Transformative Books for Personal and Business Growth
This paragraph introduces a selection of books that have significantly impacted the speaker's personal and business life, helping them build a $100 million business. The speaker will share the benefits of each book, when to read them, and how they can transform various aspects of life and business. The first book, 'The War of Art' by Steven Pressfield, is highlighted for its inspiration and relatability for artists and business people. The speaker emphasizes the emotional support and understanding gained from this book.
🌅 Morning Routine and Business Support
The speaker discusses 'Miracle Morning,' a book that promotes starting the day with a positive routine. Despite some criticism, the speaker follows this routine, including activities like journaling and reading, to maintain a positive mindset. 'Tribe of Millionaires' is also mentioned, emphasizing the importance of surrounding oneself with supportive peers, mentors, and tracking success. The speaker highlights the necessity of emotional stability and having a supportive network for business success.
🔮 Understanding and Using Power in Business
This section covers the book 'Power' and its significance in understanding the impact and responsibility that comes with power. The speaker stresses the importance of understanding and respecting power dynamics in interactions with customers, employees, and others. The book provides insights into wielding power responsibly and recognizing it in others, crucial for personal and professional relationships.
📈 Practical Business Education and Mistakes
The speaker reflects on the limitations of formal business education, noting that only an accounting class was valuable. They emphasize learning from experience and mistakes, and introduce books that serve as practical business guides. 'The Millionaire Real Estate Agent' offers models for revenue growth, employee development, and business sustainability. '21 Laws of Leadership' by John Maxwell provides principles for effective leadership, while 'Personal MBA' explains essential business concepts often overlooked in traditional education.
💸 Financial Management and Productivity
Here, the speaker highlights 'Simple Numbers, Straight Talk, Big Profits' by Greg Crabtree as a critical resource for understanding financial metrics in business. The book simplifies complex financial concepts, making them accessible. 'Get Things Done' is recommended for productivity and organization, offering a methodology for administrative functions within a business. These books help business owners manage finances and improve operational efficiency.
🌐 Leveraging Virtual Professionals
The speaker introduces their own book, 'Scaling Your Business with Mod Virtual Professionals,' which provides insights into using virtual assistants to boost profits. The book is positioned as a valuable resource for modern businesses looking to optimize their operations with virtual staff, demonstrating significant cost savings and increased efficiency.
📊 Advanced Business Strategies and Scaling
This paragraph covers advanced business strategies for scaling and growth. 'Traction' by Gino Wickman introduces the Entrepreneurial Operating System (EOS), which helps businesses develop structure, accountability, and operational efficiency. 'Venture Deals' explains private equity and venture capital perspectives, essential for understanding business valuation and maximizing enterprise value. These books are aimed at businesses seeking substantial growth and professional management.
🍽️ Creating a Customer-Centric Culture
The speaker discusses 'Unreasonable Hospitality' by Will Guidara, which focuses on creating a world-class culture within a business to retain customers and receive positive reviews. The book emphasizes the importance of exceptional customer service and a strong company culture in sustaining business growth.
🏆 Principles of Billion-Dollar Companies
This section highlights 'Blueprint to a Billion' by David G. Thomson, which analyzes companies that achieved billion-dollar revenues. The book identifies seven principles that contributed to their success, providing valuable insights for businesses aiming to reach significant growth milestones.
👨👩👦 Generational Wealth and Family Capital
The final paragraph covers 'Family Wealth: Keeping It in the Family' by James E. Hughes Jr., which explores strategies for preserving and growing wealth across generations. The book discusses various forms of capital—financial, human, and intellectual—and how to manage them effectively for long-term family prosperity. The speaker emphasizes the importance of learning from others' experiences through business books to overcome challenges and achieve success.
Mindmap
Keywords
💡Transformation
💡Business Owner
💡Wealth
💡Miracle Morning
💡Tribe of Millionaires
💡Power
💡Personal MBA
💡Financial Metrics
💡Productivity
💡Venture Deals
Highlights
Books that have helped build a $100 million business and transform personal and professional life.
The War of Art by Steven Pressfield: Offers inspiration and understanding of the creative process and business emotions.
Miracle Morning: Standard in business for starting the day positively, impacting team and personal life.
Tribe of Millionaires: Emphasizes the importance of support networks, mentors, and tracking success.
Power of Now: Understanding and respecting the laws of power in business and personal interactions.
The Millionaire Real Estate Agent: Teaches revenue growth, employee growth, and sustainable business models.
John Maxwell's 21 Laws of Leadership: Essential for learning and improving leadership skills in business.
The Personal MBA: Breaks down key business concepts such as acquisition costs and margins.
Scaling Businesses: Advanced guide for detailed business growth and scaling.
Simple Numbers, Straight Talk, Big Profits by Greg Crabtree: Financial management and metrics for business scaling.
Getting Things Done: Productivity and organizational methods for business administrative tasks.
Scaling Your Business with Mod Virtual Professionals: Benefits of virtual assistants for business models.
Traction by Gino Wickman: Entrepreneur Operating System for business structure and accountability.
Venture Deals: Understanding private equity and venture capitalist business valuations.
Unreasonable Hospitality: Creating world-class culture for customer retention and business growth.
Blueprint to a Billion: Principles from companies that scaled to billion-dollar revenues.
Family Wealth: Strategies for preserving and passing on wealth across generations.
Books as tools for overcoming business challenges and achieving success.
Transcripts
these books will transform you as a
human these books will transform you as
a business
owner these books will make you
wealthy and this one book will help you
generate family wealth these are the
books that have actually helped me build
a $100 million business and have
actually served not only my team but my
family me personally and they've
transformed everything and I'm going to
share this with you today and not only
why you should read the book but what
you're going to get out of it and in
what stage of your life you should read
and Implement these books and the
information inside of
them so first of all I love this book
it's called The War of art the guy
Steven pressfield actually was a failure
the majority of his life until he wrote
this book and every morning I like to
read a passage or two from this book to
feel inspired and he talks about what it
feels like to create and to actually be
an artist and to be in business every
every single day and the emotions that
you feel this book will make you feel
not alone it'll make you feel like
there's somebody else who understands
exactly what you're going through it's a
big deal now Miracle morning is standard
in the business industry if you're in
business starting your day and I know
there's a lot of business guys out there
that hate this book and hate having a
miracle morning I do I sit in the sauna
hot tub Every Morning Journal read every
single morning I'm following this
business routine because then I can show
up for my team my family my world in a
positive State and it's a big deal the
emotions that you have as a business
owner they transfer to others and I
can't tell you how this book 20 years
ago transformed my life this one tribe
of millionaires I don't want to
understate the amount of support you
need as a business owner meaning you
need peers a coach a mentor it's insane
the amount of people you need to
surround yourself with and also the way
you need to track success this is the
issue most people live their life in
emotion and they have these ups and
downs and their whole business World
fluctuates like this this book will help
you understand who you need to surround
yourself with and for and be around and
also the people that you need support or
the people in your life who can support
you it's a fantastic book power now with
great power comes great responsibility
and yet if you don't understand the laws
of power um you will walk through the
world like a child in a glass shop
meaning you will make mistakes hurt
people impact people negatively So
reading this book will help you
understand the power that you have over
not only your customers and your
employees and your even your family but
it'll help you respect when you meet
people who know how to wield power and
how to interact with them so it's a
super fantastic book again these are who
you need to be these are being books
meaning this is how I've grown and been
successful in business understanding
myself and the people that I work with
these are the things that emotionally
prepare you for success in business now
we're going to go into the business side
um what's interesting is there are no
schools or education or college degrees
that are going to in fact I have a
business degree I have a finance
business degree and the only class that
has been helpful is accounting like the
one class in college that I got any
value from was Accounting 101 which is
wild and so as a business owner what you
have to do is you have to learn and grow
and make mistakes and not stop now these
books are going to help you make less
mistakes because the content inside them
are basically what I would say a
bachelor's degree in business I'm going
to start out with this one it's called
The Millionaire real estate agent here's
what's important this book will teach
you how to grow Revenue grow employees
and actually build a sustainable
business they have a lot of models
inside this in fact one of my good
friends one of my best friends from
college actually owns a construction
company I directed him to this book
because it has models for growing leads
models for growing revenue and models
for growing Talent inside your business
super important book the next book is
John Maxwell's 21 laws of leadership
it's a big deal um it will teach you how
to once you've built a successful
business lead others so they're just
basic principles you don't have to
memorize these things this is what's
happened for me whenever I've failed as
a leader I usually come back to this
book and read through it find the law
that I screwed up re kind of break down
and this is what entrepreneurship is by
the way it's constantly you're in a
state of motion learning and improving
and not giving up and I find this book
to be the most
successful guide when it comes to
Leading others personal MBA is like a
business model book it'll help you
understand the different things that
exist inside of a business that as an
entrepreneur nobody teaches you nobody
tells you to pay attention to
acquisition costs like what's that
margin I don't understand in this book
breaks those things down they're
detailed and actually in this other
stack the scaling businesses this is
like getting a a a master's or doctorate
and this is like being world class so
you're going to learn a lot of the
detail of building and scaling a
business from this one okay a couple
times in my career I've actually made
significant uh mistakes that have cost
me lots of cash mistakes with customers
mistakes with growth and scale mistakes
with my model and the most important
thing you can do is have good metrics
Financial metrics and so this book
simple numbers Straight Talk big profits
by Greg Crabtree has been my financial
Bible every time I look at a set of pnls
or balance sheet I refer back to the
information that I've learned in this
and it's very important when you're
scaling and growing a business we don't
think about financials I don't think
about balance sheets I'm not thinking
about what's in my bank account this
book breaks down all of those things in
a very easy to understand process that
anybody can understand like anybody so
if you're having challenges with cash
flow Revenue growth margin like all the
details this is the book for you it's a
really great book all right this one get
things done this book should be a number
one bestseller it should be on every
business owner's desk it's a book about
productivity and how to organize your
life and your calendar and your drives
or your Shar drives it's insane because
this is the methodology that all
administrative functions within a
business should follow I have it here
because we have a lot of customers who
come to us you know we're in the
leverage business and they're like I
need help and I'm like okay great what
process are you following right now and
they're like I don't have a process and
so this book get things done gives you a
process for the administrative task
inside your business and it's a big deal
most entrepreneurs are not good at this
and so reading this book will give you a
basic understanding and also give you a
template for who you to hire and what
the system and process looks like it's a
big deal okay this is a bonus obviously
this is my book scaling your business
with Mod virtual professionals now what
you're going to get out of this book is
how to think through a business model
with virtual folks and it's a big deal
and I think it can actually help juice
your profits we have clients that have
saved millions of dollars using virtual
assistance so this is a Brave New World
everything's virtual I think this is
going to add value to your business Gra
it read it it's going to be great okay
now these are business Master's badass
billion dooll company books I'm sharing
them because these are the things that
we use inside of our business that have
completely transformed these are the
things that have allowed me to step out
of the day-to-day so that the business
can run but still grow profitably um
traction this is what what they're
famous for J wickman's book is eos
entrepreneur operating system there's
nothing like it and they actually teach
people how to create org charts and and
operational systems inside the business
and systems of accountability which is a
huge deal once you cross like the $10
million Mark as you're growing your
business it allows you to have other
people lead and actually be accountable
super good book and if you don't have
structure inside your your business this
is the book for you all right Venture
deals I'm sure you've never heard about
this I've purchased a bunch of
businesses I've sold a bunch of
businesses and in doing so this is what
I wanted I wanted to understand how
private Equity Venture um capitalist
thought about business like I wanted to
understand why they valued a business
and I want to understand why some
companies got a 20x on on their revenue
and other companies got 3x this business
book actually breaks down every single
metric that they care about when you're
transacting in the private Equity World
why does this matter it's because this
is will help you juice your Enterprise
value of your business now if you don't
know what an Enterprise value of a
business this book's not for you and you
should stick to these two stacks but
Enterprise Value is the value that
you're growing inside your business to
help you really one day hopefully have
an exit or have a capital event and so
this is a really big big deal this is a
hard concept to understand this book
unreasonable Hospitality really
interesting he is a CEO of a restaurant
company in New York and wanted to be
number one in the world and he wrote
this book about Hospitality now here's
what's interesting as you grow in scale
the first order of business is just
getting custom customers the second
order of business is keeping customers
and that comes with culture and so this
book is about how to create world-class
culture inside your company so that your
customers stay with you give you great
reviews and you can grow and scale your
business this is a no-brainer you have
to read it if you're if you have a team
and if you have customers really big
deal now this David Thompson wrote this
it's blueprint to a billion what's
interesting is they did a very clinical
way of understanding why some some
companies grow in scale to a billion
dollars and others never get there so
they uncovered several companies that
only got to 100 million or $200 million
of Revenue but never crossed the billion
dollars and then they did a subset of
like 30 or 40 other businesses who
started from zero and actually went to
over a billion dollars in Revenue now
what they did is then created seven
principles out of all of the lessons of
those companies that became billion-
dollar companies I think if you're
trying to grow and scale a massive
Enterprise Value company you have to
read this book all right my last
favorite as you think through of your
journey one you're being you're learning
how to be who you want to be in order to
grow and scale now you're learning how
to grow and scale a business probably 0
to 10 million 10 million plus going to
$100 million this book what you do with
the money and how you serve your family
so it's family wealth keeping it in the
family um James Hugh Jr who created
basically these models for Capital and
when you think Capital you think oh cap
Capital like Financial that's definitely
in this book but the he always also
talks about human capital intellectual
Capital Financial assets capital and how
to preserve that generationally so this
is a great book if you're focused on
growing your wealth and passing it on
generationally to your families when you
have a problem inside business there is
somebody who's experienced that problem
before and they've created Frameworks
and they've created um language
technology that you've never seen or
heard of and that's how I use book
business books are a tool to help you
get over a problem so that you can win
these are the books that have completely
transformed my world I hope this has
been helpful to you and it transforms
[Music]
yours
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