Almost every human being on the face of the earth wants to be rich and live a comfortable life.
Who can blame us?
We are creatures that always go for the best option which is almost always the option that brings us the most satisfaction.
I was on an online reading forum the other day and one question that stuck out to me basically inquired into whether reading could actually lead to riches.
This got me thinking about that whole topic and the more I thought about it the more I actually got more interested.
So I thought I should write an article on this to sort of give a detailed analysis of this topic and provide a certain level of clarity for somebody that may be stuck in this area.
With that said, Can reading books make you rich?
Reading books can only HELP you get rich. This means reading the right material and making smart decisions that can lead to the accumulation of wealth.
Its a mistake to think that you’ll become rich by just reading books. Of course reading books can certainly help, but getting rich is a complicated process that relies on a number of various things.
Can reading actually make you smarter?
How books can help you get rich
Now that we have a basic idea of the role that books can play in getting rich let’s further look into how you can effectively use books to your advantage in this regard.
Knowing what you want
The first thing of course is knowing what you actually want. Don’t make the mistake of thinking any book you read will make you rich, that’s a flawed mentality.
There’s more to wealth creation than reading books.
Books can certainly offer help in the process but you have to first figure out what you actually want to do. If you’re to go into a specific field.
You obviously need to gain knowledge in that field.
Reading the right stuff
Knowing what you want is only the beginning. Essentially what has to follow next is actually reading the right stuff.
You can’t just read any book and expect wealth to magically follow you.
You need to be a precision reader that can find good information and good authors to offer that good information.
This is a vital point to make because getting rich is a journey and one thing you need is how to get started on your own journey to becoming rich.
Most books can be misleading because they can offer you the highlights of being rich which is not really useful for a person that is trying to walk the actual journey.
Find good reading material that can point you in the right direction, offer counsel and advice that you can use on your journey.
Don’t stop at self-help material, look for books that can point you in specific areas and specific ways in which you can build riches.
Avoid the vague stuff, it’s not only a waste of time but also very misleading. ARE BUSINESS BOOKS WORTH READING? FIND OUT HERE.
Which brings me to my next point.
Being a practical reader
Reading is a great activity and hobby overall.
But we need the right material just as we have discussed in the previous point…. but it doesn’t end there.
What has to follow next is utility.
You can’t just read and think money will flow your way. You need a good plan.
Most books in the investing and “getting rich” space usually offer steps to take and what to basically do to get rich.
You then have to be a person that can easily apply what they learn. That’s the only use reading has. Utility.
It’s not always about taking physical action but sometimes mental action like living a certain way or cultivating certain habits and mentality.
When you use books this way, they’ll certainly make a huge difference in your journey to accumulating riches.
You also have to careful because reading can sometimes make you become complacent which is very dangerous.
Reading can create a false sense of progress which would in turn keep you trapped in your own illusion. Remember that you’re reading to get somewhere and reading itself is not the destination.
Reading and Wealth
Now that we’ve discussed how you can use reading to empower yourself to get rich. Let’s get into what actually is necessary to create Wealth and how reading can play a role in these things.
A business
In order to get rich you need a business that can bring in cash flow. In order to build a business you need to figure out what drives your passion and what you can actually excel in.
Reading rich people’s biographies can inspire you to look within yourself and figure out what business you can venture in. There’s a lot information on this in many books. FIND OUT IF BILLIONAIRES READ
Having this information can make it easy for you to see how others got started in their early days and how they navigated to go on to build riches.
To start a business you also need capital which will be the tool that will help you create riches. You need to research books that can help you figure out ways in which you can raise capital.
There are a lot of ways in which people leverage themselves to build or get the capital they need to fund their businesses.
If you read the best books on investing you can gather several ideas that can become valuable tools that help you create wealth.
With that said, Do business people actually read?
Equity
Owning part of a company (equity) is another way one can build wealth.
This takes gathering the right information about various industries you can invest in. Reading books on investing can be really helpful here because you can form a basis on what makes good investments and how you can find these investments.
Several books on investing will also point you to the stock market which can be a good investment engine if you know what you’re doing.
This is why you need to get as much information as possible and then test what you learn and get a sense of what works and what doesn’t.
Books can be a means to acquire experience if you can use them to guide you into what investments you can make.
Selling
in order to become rich you obviously have to sell products or services. Selling itself is an art and you don’t get anywhere near riches if you don’t know how to sell.
In this regard reading books on how to market and sell products can place you at an advantage and can be the way you learn how to produce and sell what society wants.
Ofcourse experience plays a huge part in this which is why you cannot only rely on reading books to become a great seller or marketer.
Partnerships
It’s very rare that you find people that got rich independently. Most wealth is created by partnering with people with whom you have similar goals and ambitions.
Reading books on how you can align yourself with the right people can be great for you. The knowledge you can gather from such books can help you in choosing who you can work with.
Businesses fail if there’s no coordination among the people running it. So you need strategic alliances otherwise you’re doomed to fail.
Business biographies can be helpful here because you can learn how people chose and aligned themselves with people that made it possible for them to succeed either independently or collectively.
Remember to use what you read to build on your experience. Theoretical knowledge in this regard doesn’t really help you.
Utility is what you need.
Skills
Books can of course be also very useful in learning certain skills that are required for you to successfully run your business or build one.
This depends on whether you’ve picked an industry that you wish to go into or not.
Which is why knowing what you want is a very essential step in setting yourself up for wealth. Books can help with this by providing you with inspiration and details of people that succeeded.
In the end you’ll have to make the choice of the industry to go into on your own.
Final Thoughts
Reading books can help you get rich if you read the right material and make smart decisions that can lead to the accumulation of wealth.
Avoid the mistake and misconception of thinking that you’ll become rich by just reading books alone.
Reading books can certainly help but getting rich is a complicated process that comprises of a number of different things.
USEFUL LINKS
Can Reading Books Make Your Rich? The Truth Revealed! – The Book Buff
Science Says If You Read Books You’ll Earn More Money – Electric Literature
How Reading Can Make You Rich – Roseanna Sulnley
5 Billionaires Who Credit Their Success to Reading | Inc.com
good books to read on how to become rich? – ICTSD
11 books that will teach you to get rich summed up in a sentence – CNBC
