“Lifelong learning is fundamental to long-term success,” says Justin Kulla, member of Forbes Coaches Council and founder of BusinessBlocks. Today, the world moves much faster than it did even five to 10 years ago. And there’s more competition than ever.”
One way to keep evolving as the leader of your business is to read books for small business owners. But, as a business owner, you have a lot on your plate. It’s often difficult to make time for continued learning and professional development, but making time to focus on your own growth is crucial. Not only does it set a good example for your employees, but it also keeps you up to speed on current innovation and workforce trends. In today’s world, change is accelerating on several fronts, and as a business owner, you need to stay nimble.
With this new series, we aim to save you time by covering well-known and new business books and their key take-aways, so you can determine within a minute if a book is relevant to your business and your situation—really, whether it’s worth your valuable time.
August Monthly Must-Reads: Best Books for Small Business Owners
Blitzscaling, by Reid Hoffman and Chris Yeh
Exploring business tactics that spark and manage periods of high growth
“When a market is up for grabs, the risk isn’t inefficiency—the risk is playing it too safe. If you win, efficiency isn’t that important; if you lose, efficiency is completely irrelevant.” – Blitzscaling
Great for Small Business Owners Who:
Have identified a new opportunity and want to quickly capitalize on it and grow, especially if theirs is a low-margin business and/or related to digital technology
Written by co-authors who have scaled start-ups into billion-dollar businesses, including PayPal, Blitzscaling opens with a foreword by Bill Gates and then introduces the concept of blitzscaling, which “prioritizes speed over efficiency in an environment of uncertainty, and allows a company to go from ‘startup’ to ‘scaleup’ at a furious pace that captures the market.”
The authors explore the ideal market conditions and business models for this strategy—including when not to move forward with blizscaling. The contents:
- Describe situations when blitzscaling is imperative.
- Explain how to recognize when to stop blitzscaling.
- Cover critical management changes to make as companies grow.
- Include case studies of notable fastest-growing companies, like Uber, AirBnB and Amazon. It also includes case studies outside of the technology sector.
- Blitzscaling is a strong strategy only when speed-to-market is the main and crucial factor to success.
- Companies should only engage in blitzscaling if their product and/or market, their business model, and the market conditions are the right fit for it.
As the business world evolves, new opportunities will continually arise. Be ready to capitalize on them with the lessons from this Blitzscaling in mind.
“I take away a better understanding of why some companies engage in blitzscaling hyper growth as their #1 priority, and why this is such a powerful technique to overwhelm the competition. This book reveals some really interesting techniques to grow the customer base, organizational strategies depending on the size of the company, and management styles.”
“I highly recommend this book to learn the benefits of blitzscaling. It’s very interesting to read, it’s sometimes hard to put the book down because there’s something useful on every page. Just don’t expect much depth about companies that attempted blitzscaling and failed while trying, this book is more about success business cases.”