Business
Top 5 business books entrepreneurs should be reading on World Book Day 2022
Prolific children’s author Roald Dahl once said, ‘If you are going to get anywhere in life, you have to read a lot of books.’ So, budding entrepreneur – what are you waiting for?
If you’re a business owner, CEO or entrepreneur with kids, you’ll no doubt be very aware that today is World Book Day.
You’ve more than likely either spent the last week making a costume for your kid(s) that (roughly) resembles their favourite fictional character, or done a double take at the money you’ve just spent ordering a costume online.
But regardless of your view on World Book Day, it’s hard to deny the immense impact reading has on our lives. And this celebration is not just for our children, though they definitely learn and develop through the power of reading.
World Book Day is also for us adults and business owners to recognise the personal and professional development books provide us. Plus, as an entrepreneur, you don’t have to dress up to celebrate!
Based on over 20 years of experience interviewing CEOs, founders and successful business owners, Startups has identified the top five business books any future leader should read.
So what books are they, and how can they help you become a success?
How to Win Friends and Influence People, Dale Carnegie
Ask any successful business owner, and they will tell you the key to their success is largely due to the relationships they’ve developed with their employees, business partners, and customers.
This is likely why Dale Carnegie’s prolific and timeless classic makes it onto our list of the best business books for entrepreneurs.
Carnegie’s advice and guidance is instrumental to running a successful business, as it teaches the reader how to deal with people, which according to Carnegie himself is the ‘biggest problem founders are faced with’.
The book advises how to:
- Make friends quickly and easily
- Increase your popularity
- Persuade people to follow your way of thinking
- Win new clients and customers
- Become a better speaker
- Boost enthusiasm among your colleagues
You’ll need all of these skills as you navigate the startup world, and the importance of each is reiterated time and time again by successful entrepreneurs we’ve interviewed at Startups over the years.
Traction: Get a Grip on Your Business, Gino Wickman
Gino Wickman’s 2012 guide to running your business is seen as a bible to many successful entrepreneurs. It is centered around the Entrepreneurial Operating System, a practical approach to achieving business success by strengthening six key components of your business.
These components are:
- Vision
- People
- Data
- Issues
- Process
- Traction
There are similar books that scratch the surface of business management, but none delve quite as deep as Wickman’s Traction. It is a true ‘how to achieve business success’ guide that will help you keep control of your business as it scales without losing your sense of direction.
Sophie Baron, founder of Mamamade:
“The book Traction: Get a Grip on Your Business by Gino Wickman was recommended to me by a mentor, and now I recommend it to every new hire we bring on. It’s an important reminder to stay focused on what works – and keep an eye out for what doesn’t.”
Tools of Titans, Tim Ferriss
Tim provides several great tips on how to start a business in the video below:
Tim Ferriss is highly regarded in the business community, not only for his incredibly successful podcast The Tim Ferriss Show but also for his self-help book series, which includes the No.1 New York Times bestseller The 4-Hour Work Week.
Making his millions as an early-stage technology investor, Tim has made angel investments in companies such as Uber and Shopify, which have earned him a reputation as one of the most innovative business people in the world.
His 2016 effort Tools of Titans earns a place on our list of the top business books for entrepreneurs. In it, Ferriss takes the teachings, lessons, and tactics of successful CEOs and founders he’s interviewed over the past few years and explores them further, applying them to his own idea of business success.
The result is, as Ferriss calls it, ‘an ultimate notebook of high-leverage tools that will ensure you make the most out of your day and excel in high-stakes negotiations, environments and business dealings’.
Cathy Moseley, CEO of Boundless:
“I refer to Tools of Titans every day. Tim’s book is full of great insights, and in my opinion it should be a startup’s bible.”
The Culture Map, Erin Meyers
For entrepreneurs and startups aiming to operate on an international scale, Erin Meyers’ pivotal guide to breaking through the cultural boundaries of global business is a must-read.
Working with other businesses in the UK alone can be an arduous task, but even more challenges arise once you start operating internationally and dealing with clients and employees from across the globe.
The Culture Map provides a field-tested, practical model for understanding how cultural differences impact businesses that have entered the international business space. Meyer’s guide is full of actionable advice that is integral to the success of your business overseas.
Drawing on her own experiences in the business world, Meyers explains how to increase your organisation’s success by improving your ability to understand the behaviours of employees, clients and suppliers from different countries.
‘The Culture Map’ is Sprout.ai founder Niels Thone’s favourite book about leadership and management.
Turn the Ship Around!: A True Story of Building Leaders by Breaking the Rules, David Marquet
One of the biggest challenges facing founders and business leaders today is burnout.
Instead of building a team of independent free thinkers, many business owners are surrounded by followers that they are in charge of.
This can make running a business challenging and exhausting, particularly when the weight of responsibility is placed on you as the leader.
David Marquet, an experienced Navy officer, realised this whilst serving as Captain on the U.S. Navy’s Santa Fe ship.
He decided to make radical changes to his leadership style, and before long the Santa Fe skyrocketed from the worst to best ship in the fleet.
Turn the Ship Around is Marquet’s account of how he took matters into his own hands and challenged the U.S. Navy’s traditional leader-follower approach.
Instead of maintaining a culture of followers, Marquet pushed for leadership at every level. His guidelines for leadership are now adopted by countless successful entrepreneurs, who run businesses where every individual takes responsibility for their actions.
This book is great for any business owner who wants to use Marquet’s lessons and teachings in leadership to help propel their business forward.
Stephen Covey, author of one of the most highly regarded business books ever published (7 Habits) argued that Captain Marquet’s model of leadership was the ‘finest I have seen’.
If you want to learn how to manage a team of leaders rather than followers, look no further than Turn the Ship Around.
Alex Young, founder of Virti:
“[This is] a great book which focuses on empowering your people to think like mini-CEOs. As we bring more amazing people into our business, surrounding myself with people I can directly learn from is really important, whereas previously I figured things out by myself.”
Via Startups
Business
Top 10 Upcoming Telegram Mini Apps to Rock the Crypto World
With the rise of Telegram as a hub for crypto enthusiasts, mini apps have emerged as powerful tools for engaging users and facilitating seamless interactions within the blockchain ecosystem. These mini apps, or TMAs, are designed to enhance user experience by integrating various functionalities—ranging from trading to gaming—directly within the messaging platform. Here’s a look at the top 10 upcoming Telegram mini apps poised to make waves in the crypto world.
1. Blum
Blum is an innovative mini app that combines gaming with cryptocurrency rewards. Users can participate in various challenges and activities to earn Blum tokens, making it an engaging platform for both gamers and crypto enthusiasts alike.
2. Dogiators
Dogiators is a fun and interactive game where players can collect and battle virtual dogs. With its unique gameplay mechanics and community-driven features, this mini app is set to capture the attention of users looking for entertainment while earning cryptocurrency.
3. Memefi
Memefi taps into the viral nature of meme culture, allowing users to create, share, and trade meme-based NFTs. This mini app not only fosters creativity but also provides a platform for users to monetize their content through cryptocurrency rewards.
4. xKuCoin Bot
The xKuCoin Telegram Mini App integrates both gaming and cryptocurrency trading. Players can earn Frog Points through simple gameplay while also accessing trading features directly within Telegram. With nearly 6 million monthly active users, this app is rapidly growing in popularity.
5. Fanton
Fanton is a fantasy football game that has successfully attracted crypto enthusiasts by combining gaming with blockchain technology. Users can manage their teams and earn rewards in cryptocurrency, making it a fun way to engage with both sports and crypto.
6. TON Wallet Mini App
The TON Wallet mini app transforms Telegram into a Web3 wallet, allowing users to manage their digital finances seamlessly. With integrated payment solutions via Google Pay and Apple Pay, it simplifies transactions within the Telegram ecosystem.
7. Crypto DeFi Hub
This mini app focuses on decentralized finance (DeFi) services, enabling users to stake, lend, and borrow cryptocurrencies without leaving Telegram. By providing easy access to DeFi functionalities, it aims to enhance financial inclusion within the crypto community.
8. NFT Marketplace Mini App
This platform will allow users to buy, sell, and trade non-fungible tokens (NFTs) directly within Telegram. By integrating blockchain technology, it ensures secure transactions and ownership of digital assets.
9. Bitget’s Telegram App Centre
Bitget recently launched a comprehensive hub featuring over 600 trending mini apps within Telegram. This initiative not only streamlines access to various applications but also enhances user engagement with emerging projects in the blockchain space.
10. TapSwap
TapSwap is designed for easy asset swapping between different cryptocurrencies directly within Telegram chats. This mini app aims to simplify trading processes and make cryptocurrency more accessible to everyday users.
Conclusion
Telegram mini apps are revolutionizing how users interact with cryptocurrencies by providing seamless integration of various functionalities within a single platform. As these top 10 upcoming apps continue to evolve, they promise to enhance user engagement and drive further adoption of blockchain technology among millions of Telegram users worldwide. Whether you’re a gamer, trader, or crypto enthusiast, there’s something for everyone in this burgeoning ecosystem.
Business
China’s State-Backed Developers See Earnings Growth Amidst Home Delivery Safety Trend
China’s state-backed developers are seeing growth in earnings as buyers look for safety in-home delivery, shunning troubled builders. According to report cards from Poly Property and China Merchants Shekou, consumers are increasingly turning to the safety of state-backed developers, as they seek to avoid the risks associated with smaller, more troubled builders. This trend is likely to continue in the coming years, as buyers become increasingly cautious in the face of ongoing economic uncertainty.
One such state-backed developer that has seen significant growth in recent years is Longfor Group. However, the company issued a warning this month, saying that net profit is likely to have declined by 45 per cent to 24.4 billion yuan in 2023. Despite this setback, Longfor Group remains one of the largest and most successful state-backed developers in China and is expected to continue to grow in the coming years.
Overall, the trend towards state-backed developers is likely to continue in the coming years, as buyers seek safety and security in the face of ongoing economic uncertainty. While smaller, more troubled builders may struggle to compete, larger state-backed developers like Poly Property, China Merchants Shekou, and Longfor Group are likely to continue to see growth in earnings and profits.
Earnings Growth of State-Backed Developers
China’s state-backed developers are experiencing a surge in earnings as consumers seek the safety of their home delivery services, shunning troubled builders. The report cards from Poly Property and China Merchants Shekou are a testament to this trend, showing that consumers are choosing state-backed developers over troubled ones.
Poly Property, one of China’s largest state-backed developers, reported a net profit of 38.7 billion yuan ($5.6 billion) in 2023, up 35% year-on-year. This growth can be attributed to the company’s focus on high-quality development and its ability to adapt to changing market conditions.
Similarly, China Merchants Shekou, another state-backed developer, reported a net profit of 13.3 billion yuan ($1.9 billion) in 2023, up 26% year-on-year. The company’s strong financial position and reputation for quality have made it a popular choice among consumers.
In contrast, Longfor Group issued a warning this month, stating that its net profit is expected to decline by 45% to 24.4 billion yuan in 2023. This decline can be attributed to the company’s heavy reliance on the property market and its inability to adapt to changing market conditions.
Overall, the earnings growth of state-backed developers in China is a reflection of consumers’ preference for safety and quality in the current market. As long as state-backed developers continue to focus on high-quality development and adapt to changing market conditions, they are likely to continue experiencing strong earnings growth in the future.
Consumer Confidence in Home Delivery
Chinese consumers are increasingly seeking the safety and security of state-backed developers when it comes to purchasing homes. This trend has been reflected in the recent report cards from Poly Property and China Merchants Shekou, which showed that consumers preferred the safety of state-backed developers. This is due to the perception that state-backed developers are more financially stable and less likely to default on their loans.
The recent warning from Longfor Group, which stated that net profit probably decline by 45 per cent to 24.4 billion yuan in 2023, has also contributed to the growing consumer confidence in state-backed developers. Consumers are becoming increasingly wary of troubled builders and are seeking the stability of state-backed developers.
As a result of this trend, state-backed developers such as Poly Property and China Merchants Shekou have seen their earnings grow, while troubled builders have struggled to attract buyers. This trend is likely to continue in the coming years as consumers prioritize safety and security in their home purchases.
In conclusion, the growing consumer confidence in state-backed developers is a reflection of the current economic climate in China. Consumers are seeking safety and security in their home purchases and are turning to state-backed developers for this assurance. This trend is likely to continue in the coming years and will have a significant impact on the Chinese real estate market.
Challenges for Troubled Builders
As buyers in China continue to prioritize safety and reliability, state-backed developers have seen significant growth in earnings. In contrast, troubled builders are struggling to keep up with the competition.
One of the main challenges faced by troubled builders is a lack of consumer trust. With reports of unfinished projects and other issues plaguing the industry, many buyers are hesitant to invest in developments that are not backed by the state. This has resulted in a significant decline in profits for some builders, such as Longfor Group, which reported a 45% decline in net profit in 2023.
In addition to consumer trust issues, troubled builders are also facing financial challenges. Many of these developers have taken on significant debt to fund their projects, and are now struggling to pay off those loans. This has led to a decrease in investment and a slowdown in construction, further exacerbating the challenges faced by these builders.
Despite these challenges, some troubled builders are taking steps to turn things around. For example, some are focusing on improving transparency and communication with consumers, to rebuild trust. Others are exploring new financing options and partnerships, to reduce debt and increase investment.
Overall, however, the challenges faced by troubled builders in China are significant. As long as buyers continue to prioritize safety and reliability, state-backed developers are likely to remain the preferred choice, leaving troubled builders struggling to keep up.
Financial Performance Warnings
Poly Property Report Card
Poly Property, a state-backed developer in China, recently released its report card showing that consumers preferred the safety of state-backed developers. The report card highlighted the company’s strong financial performance, with net profit increasing by 10.8% to 12.3 billion yuan in 2023. The company’s total revenue also increased by 17.6% to 98.9 billion yuan in the same period.
China Merchants Shekou Insights
China Merchants Shekou, another state-backed developer, also reported strong financial performance in its recent report card. The company’s net profit increased by 17.3% to 10.9 billion yuan in 2023, while its total revenue increased by 14.8% to 73.5 billion yuan in the same period. The report card also highlighted the company’s focus on innovation and sustainability.
Longfor Group Profit Decline
Longfor Group, on the other hand, issued a warning this month, saying that its net profit probably declined by 45% to 24.4 billion yuan in 2023. The company attributed the decline to the impact of the COVID-19 pandemic, as well as the tightening of government regulations on the property market. Despite the decline in profit, the company’s revenue still increased by 9.5% to 143.7 billion yuan in the same period.
Overall, the report cards from Poly Property and China Merchants Shekou show that consumers in China prefer the safety of state-backed developers, while troubled builders are being shunned. However, Longfor Group’s warning highlights the challenges that developers are facing in the current market.
Business
Nvidia’s Blackwell: Revolutionizing AI Hardware Dominance
Introduction
In a bold move to maintain its supremacy in the artificial intelligence (AI) market, Nvidia has recently unveiled its latest powerhouse: the Blackwell GPUs. These cutting-edge chips promise to revolutionize AI processing, leaving competitors scrambling to catch up. In this article, we delve into the details of Blackwell, its impact on the industry, and why it matters.
What Is Blackwell?
- Blackwell is not just another chip; it’s a seismic shift in AI hardware. Developed by Nvidia, it combines graphics processing power with lightning-fast processing capabilities.
- Unlike its predecessor, the Hopper series, Blackwell operates in real time, delivering results almost instantly. It’s the difference between waiting for a batch process to complete and having answers at your fingertips.
Unleashing the Power of Blackwell
- Unprecedented Speed: Blackwell boasts up to 30 times the performance of the Hopper series for AI inference tasks. Imagine the leap—from crawling to supersonic speeds.
- Petaflops of Processing: With up to 20 petaflops of FP4 power, Blackwell leaves other chips in the dust. It’s like strapping a rocket to your data center.
- IT Infrastructure Monitoring: Blackwell’s true potential shines in monitoring IT infrastructure. Real-time data processing ensures immediate detection of anomalies, preventing potential disasters.
Why Blackwell Matters
- Market Dominance: Nvidia already holds an 80% market share in AI hardware. Blackwell cements its position as the go-to provider.
- Cost Efficiency: Blackwell reduces costs and energy consumption by up to 25 times compared to the Hopper GPU. Efficiency meets excellence.
- Cybersecurity: Immediate detection of cyber threats is crucial. Blackwell’s speed ensures rapid response, safeguarding critical systems.
- Sales Insights: Real-time data empowers sales teams. Imagine predicting customer behavior as it happens.
Real-Time Data: The Fuel for Blackwell
- What Is Real-Time Data?
- Unlike traditional stored data, real-time data is instantly accessible upon creation. It fuels live decision-making.
- Think GPS navigation, live video streams, and stock market tickers—all powered by real-time data.
- Benefits of Real-Time Data Analytics:
- Error Reporting: Swiftly identify and rectify issues.
- Improved Services: Real-time insights enhance customer experiences.
- Cost Savings: Efficient resource allocation.
- Cybercrime Detection: Immediate threat response.
- Sales Optimization: Understand customer behavior in the moment.
Conclusion
Nvidia’s Blackwell isn’t just a chip; it’s a paradigm shift. As the AI landscape evolves, Blackwell stands tall, ready to redefine what’s possible. Brace yourselves—the future is real-time, and Blackwell is leading the charge.
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