Whether you're a seasoned entrepreneur or just starting your online venture, there's always room for growth and learning.
One of the most accessible and valuable resources for business owners is books.
With insights from those who've already achieved great success, their practical advice can provide invaluable guidance on navigating the complexities of e-commerce.
Here's a curated list of the top five books every e-commerce entrepreneur should read to build and scale their business.
You may wonder why we've included books that aren't strictly 'e-commerce' specific. The reason is simple - they hold the business principles so essential in any industry, especially e-commerce.
So, in no particular order:
1 - The 4-Hour Workweek, by Tim Ferriss
A classic in the realm of lifestyle design and entrepreneurship, this book challenges conventional notions of work and introduces strategies for maximising efficiency, automation, and outsourcing.
He pioneered the way so many of us now live as a result of lockdown (hybrid, working, moving out of the city, 4-day week, etc.).
Ferriss's insights on building a business that runs on autopilot are particularly valuable for e-commerce entrepreneurs aiming for scalability and freedom.
It's a chunky book, but the beauty is it's not a story, so you can simply pick and choose the chapters most relevant to you.
2 - The Everything Store: Jeff Bezos and the Age of Amazon, by Brad Stone
As the world's largest e-commerce company, Amazon has reshaped the retail landscape and set the standard for online shopping.
Depending on your age, you may not even recall Amazon began as an online bookstore. Bezos' strategy to go from just books to almost everything is fascinating - and how he created his own competition to his existing product lines is genius!
Stone provides a comprehensive look at the rise of Amazon and the strategies that have contributed to its success, offering valuable lessons for your e-commerce business.
There's so much inspiration to be taken from this book. An absolute must-read.
3 - The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses, by Eric Ries
Ries introduces the concept of the lean startup methodology, emphasising the importance of rapid experimentation, validated learning, and iterative development.
You may have heard the term 'MVP' (minimal viable product)? Well, this book focuses heavily on this principle.
Essentially, rather than trying to identify every possible outcome or customer need, initially simply launch something that provides your core product(s). From that, quickly adapt, learn, modify and pivot based on real feedback.
There's a whole host of reasons why this approach is so much stronger, which the book details. A few include:
- You get to generate revenue sooner
- You get to see what's actually valued/necessary and what's not
- By implementing customer feedback, you enhance customer loyalty.
This book is essential reading for e-commerce businesses looking to innovate and stay competitive in a rapidly evolving market.
4 - E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, by Michael E. Gerber
Gerber explores the common pitfalls that entrepreneurs face when starting and scaling their businesses, offering practical advice for building systems and processes that promote growth and sustainability.
The book is largely an illustrative story. Within the story, you may reflect on how you've made the same mistakes, experienced the same frustrations, and wondered why you were bothered!
Thankfully, there is a solution. Namely, to create a McDonald 's-like business - a model which runs thanks to incredible systems and processes.
Of course, a significant part of your eCommerce model is your systems and processes: how an order is placed on your Shopify (or other) store and ends up at your customer's door.
Whether you DIY, outsource, or a bit of both, how you go about it can impact the scalability and profitability of your business.
5 - Start With Why, by Simon Sinek
So many businesses start with what they do. How many times have you heard or read something like:
"We sell surround sound systems" or "We provide 3PL fulfilment services".
These are 'so what' statements. Simon uses examples like Apple and shares how everything they do starts with why rather than what they do.
When the iPod was released, it wasn't the first mp3 player, yet it sold so many more! How? It started with why.
Mp3 companies were saying things like '32 GB', '56 GB', etc. - what the memory size was. Apple said, '1,000 songs in your pocket', '2,000 songs in your pocket' - the why became real, it became relevant and compelling.
Once understood and implemented, the impact of this principle will be profound for your business - and set you apart from so many of your competitors.
Think, how could you rephrase the first two comments to change them from what to why?
Extras
We hope you find the time to read these life-changing books above. And, once you've completed these, here are a few more to help keep you going...and growing!
- Hooked: How to Build Habit-Forming Products, by Nir Eyal
- Influence: The Psychology of Persuasion, by Robert Cialdini
- Made to Stick: Why Some Ideas Survive and Others Die, by Chip Heath and Dan Heath
- Crush It!: Why NOW Is the Time to Cash In on Your Passion, by Gary Vaynerchuk
- E-commerce Evolved: The Essential Playbook to Build, Grow & Scale a Successful E-commerce Business, by Tanner Larsson
What's Next?
Whether you're looking to launch your first e-commerce venture or take your existing business to new heights, these books offer invaluable insights, strategies, and inspiration for building a successful e-commerce business.
So grab a copy, dive in, and continue scaling your e-commerce empire!
And, of course, if you would like help with the 3PL side of things, please get in touch today!
