Founder CEO shares all the books that helped build a $100M enterprise | Daniel Ramsey

Summary

This 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

00:00

📚 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.

05:01

🌅 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.

10:02

🔮 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.

Keywords

💡Transformation

Transformation refers to a thorough or dramatic change in form or appearance. In the context of the video, it highlights how the recommended books can fundamentally change an individual’s personal and professional life, leading to success in business and personal development. For example, the speaker mentions how these books have helped build a $100 million business and improved his team and family life.

💡Business Owner

A business owner is someone who owns and runs a business, taking on the risks and rewards associated with it. The video targets business owners, emphasizing that the books can help them grow their businesses, improve leadership skills, and make fewer mistakes. Books like 'The Millionaire Real Estate Agent' and '21 Laws of Leadership' are highlighted as essential reads for business growth and leadership.

💡Wealth

Wealth refers to an abundance of valuable possessions or money. The video discusses how certain books can help generate personal and family wealth, emphasizing financial growth and sustainability. For example, the book 'Simple Numbers Straight Talk Big Profits' is recommended for understanding financial metrics crucial for business scaling and profitability.

💡Miracle Morning

The 'Miracle Morning' is a book and concept that suggests starting your day with a set routine to improve productivity and mental well-being. The speaker emphasizes its importance in the business industry, detailing his morning routine involving journaling and reading, which helps him maintain a positive state and show up effectively for his team and family.

💡Tribe of Millionaires

The 'Tribe of Millionaires' is a book that underscores the importance of peer support, mentors, and coaches in achieving business success. The video mentions that surrounding oneself with supportive and successful individuals is crucial for emotional stability and business growth. This book provides insights into creating a supportive network and tracking success.

💡Power

Power in the context of the video refers to the influence and control one has in business and personal relationships. The book 'Power Now' is highlighted for teaching how to understand and wield power responsibly. It helps business owners interact effectively with powerful individuals and manage their influence over customers, employees, and family.

💡Personal MBA

The 'Personal MBA' is a book that offers a comprehensive overview of business concepts typically taught in an MBA program. The speaker suggests this book for entrepreneurs to understand crucial business aspects such as acquisition costs and margins, which are often overlooked but essential for making informed business decisions.

💡Financial Metrics

Financial metrics are measures used to assess the financial health and performance of a business. The video highlights 'Simple Numbers Straight Talk Big Profits' as a key book for understanding financial metrics. It breaks down complex financial concepts into simple terms, helping business owners manage cash flow, revenue growth, and margins effectively.

💡Productivity

Productivity refers to the efficiency of production or the ability to generate outcomes effectively. The book 'Get Things Done' is recommended for improving productivity by organizing life, calendars, and administrative tasks. It provides a methodology that can help business owners streamline their operations and enhance efficiency.

💡Venture Deals

Venture deals refer to agreements made between investors and businesses, typically involving funding and equity. The video discusses the book 'Venture Deals' for understanding how private equity and venture capitalists value businesses. It is crucial for business owners looking to increase their enterprise value and understand the metrics that impact business transactions.

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