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11 books Small Business owners should read this summer

What one book would you recommend for small business owners to put on their summer reading list?

Being a business owner requires hard work and dedication. But other skills entrepreneurs need are more subtle and can be the difference between a thriving or struggling company. So if you have felt like your bank of knowledge is missing a key element to reach your next business goal, this curated booklist might hold an answer.

To help your small business succeed, we asked business professionals and CEOs for their best book recommendations. From books that will propel your leadership to the next level to tomes that offer advice on conflicts of all kinds, there are several innovative ideas presented in these volumes that may help you grow your business and win at life in the long run.

Here are 11 books for small business owners to add to their summer reading list:

  • The 24-Hour Family
  • Mindset: The New Psychology of Success
  • Citizen: An American Lyric
  • They Can’t Kill Us Until They Kill Us
  • Think Big, Act Small
  • Deep Work
  • The Elements of Style
  • Primal Leadership
  • The Seven Habits of Highly Effective People
  • Measure What Matters
  • The Hard Thing About Hard Things

The 24-Hour Family

For those small business owners who are also parents, I would highly recommend The 24-Hour Family by Polly Ghazi! This is perhaps one of the best guides to work-life balance for parents. It does a great job at breaking down how you can balance the ever-growing demands of your work and your family. — Jeanne Kolpek, Cadence Education

Mindset: The New Psychology of Success

One book to put on your summer reading list is Mindset: The New Psychology of Success by Dr. Carol S. Dweck.  Dweck’s work breaks down the way we view our abilities and skill sets as based on the way we carry ourselves. Some people are content with where they’re at, or think that after a certain point they can’t improve on a skill. This is known as a fixed mindset. Others continue that hunger for knowledge and want to improve. This is known as a growth mindset. This book emphasizes the importance of a growth mindset and how it can help anyone in all facets of life, from school to business, and even personal relationships. I highly recommend putting this on your summer reading list if you want a kick to get in gear. — Chris Abrams, Marcan Insurance

Citizen: An American Lyric

While this book is not strictly business-related, it definitely does something I think people in the business world need to become apt at: understanding a variety of experiences outside of their own. Claudia Rankine’s Citizen: An American Lyric subverts narrative structures to put the reader into the driver’s seat of each page as she tells us about the varied experiences of Black people in America. Rankine doesn’t tell us, readers, how to feel. She is simply asking us to feel, to open ourselves to a world beyond our own. — Hunter Blackwell, Markitors

They Can’t Kill Us Until They Kill Us

Small business owners should add They Can’t Kill Us Until They Kill Us by Hanif Abdurragqib to their summer reading list. This book is a collection of personal essays illustrating the theme of empathy. These essays make the reader stop to consider what makes the world meaningful. Apply this principle when deciding how your business will fit into customers’ lives, and your small business can become a force for change. — Alex Czarnecki, Cottage

Think Big, Act Small

Think Big, Act Small: How America’s Best Performing Companies Keep the Start-up Spirit Alive by Jason Jennings is a best-selling book that every small business owner needs on their summer reading list. Jennings dives in deep to explore the unique concept of operating on the level of a big organization yet incorporating the spirit and drive of a start-up into the core values of the business. The book provides insider interviews, extensive research, and in-depth analysis on the topic. It is a must-read for any business owner looking for long-term, steady, and consistent growth. — Kelli Lane, Genexa

Deep Work

If you read anything this summer, read Deep Work: Rules for Focused Success in a Distracted World by Carl Newport. This book will probably strike many people as counterintuitive because it flies in the face of a lot of the conventional wisdom surrounding maximizing productivity and what it means to be productive, but by learning to harness short bursts of productivity, interspersed with downtime, you actually get far more out of a workday. If you want to learn how to do more work in less time, this book provides the template. — Markus Albert, EatFirst

The Elements of Style

It might seem ancillary to running a small business, but The Elements of Style by William Strunk Jr. helped me dramatically improve my written communication, and I am certain that it has meant better relationships with my vendors, clients, and employees. Continue Reading…

RBC Vantage: Unlocking value for things consumers do every day

RBC/Getty Images

By Erica Nielsen, Senior Vice President, RBC

(Sponsor content)

When it comes to everyday banking, our clients have made it clear they want more value for their business. Specifically, they want more value from the things they do every day and to be rewarded for their banking relationship, particularly as it grows with us. They want our help building confidence in making critical financial decisions. And most importantly, they want us to earn their trust by looking out for their best interests and having their backs.

This was the important feedback that we heard from Canadians, and which led to the launch of RBC Vantage.

RBC Vantage is our new way to describe all of the powerful benefits that our clients can enjoy every day, just by having a bank account with us. Through RBC Vantage, we’re transforming the way we approach the client relationship, moving beyond simply selling a chequing account to ensuring that we meet our clients’ needs and expectations holistically.

We’ve taken the best of what we do and have innovated our offering to deliver more value than ever before as well as insights and tools to help our clients make critical financial decisions and confidently manage their money.

So, how can RBC Vantage give Canadians more value every day?

Unlock more value

Our new Value Program, one of the innovations that we’ve launched as part of RBC Vantage, is designed to recognize and reward our clients for banking with us. By simply enrolling their eligible bank accounts, they will be able to enjoy more savings on monthly account fees, and now can earn RBC Rewards points on debit purchases in-store or online. And the deeper the relationship that a client has with us, the more fees they will save and points they will earn.

Earnings points on debit is a great option for clients who spend less on credit but still want an opportunity to earn rewards, or for those who want to up their earning potential by collecting rewards on both debit and credit purchases.

Whether it’s building up points for a big-ticket item or using them to pay for everyday purchases like groceries or to pay bills, having more opportunities to earn points can really make a difference. Continue Reading…

My review of The Boomers Retire

My latest MoneySense Retired Money column reviews the new fifth edition of The Boomers Retire by certified financial planners Alexandra Macqueen and David Field. Click on the highlighted headline here to retrieve full article: Fresh takes on the challenges facing baby boomers as they approach retirement.

As I note in the column, the original edition of The Boomers Retire (which I read at the time) was by Lynn Biscott and was published back in 2008.

Macqueen and Field are both CFPs and the book is aimed at both financial advisors as well as their clients, as indicated in the book’s subtitle.

Clearly, retiring boomers constitute a massive potential readership. I myself co-authored The Wealthy Boomer, way back in 1998. At that time, baby boomers may have started to worry about Retirement but most, including myself, would have been squarely in the Wealth accumulation camp.

Wealthy Boomers now well on way to transition to Decumulation

Here in 2021, Decumulation is the emerging financial focus of Baby Boomers, many of whom will already be retired or semi-retired, and considering new decumulation solutions like the Purpose Longevity Fund, which this site has looked at more than once. (here via Dale Roberts and here via another MoneySense Retired Money column.) Continue Reading…

New 2nd edition of US version of Findependence Day now available; plus an Interview with Myself

Happy Canada Day!

Just in time for America’s Independence Day, I’m happy to announce that a new updated 2021 edition of Findependence Day is now available in the US market. Published by Best Books Media in New York, you can buy the paperback version of the book here through Amazon.com.

Or you can buy the new paperback for US$15.99 or Nook ebook for US$1.99 at Barnes & Noble.

Below is an Interview with Myself, which explains the timing, the differences and other things. If “An Interview with Myself” strikes some as a little bizarre, let me acknowledge that I originally got that idea from British journalist and author Malcolm Muggeridge, who I knew when he was the Writer in Residence at the University of Western Ontario journalism school in 1978-1979.

So without further ado, here’s the Q&A with myself:

 

Jon Chevreau: So Jon, you already had an American edition out in 2013. Why are you updating it eight years later?

Jon Chevreau: Good question, Jon, it’s mostly a matter of timing and the fact that North America, led by the United States, is just starting to emerge from the Covid pandemic. Suddenly, young people are starting to have hope again about their futures, including their financial futures. And, Findependence Day is a novel geared to younger adults, millennials, people just starting out on their life’s journey.

JC-Q: I see. I know Canada is a bit behind the USA in its vaccination program and economic recovery, but why a new US edition and not a new Canadian edition?

JC-A: True but the fact is that while the original Canadian edition has sold well and continues to sell in Canada, the original print run was such that there are still enough copies left that it doesn’t make much sense to make the old version obsolete. And besides, the content in the Canadian edition is still current.

As you know, Jon, the first edition from 2008 was actually written as a North American edition and attempted to include both Canadian and American content. But you decided a few years ago that the US market — which after all is ten times as large — needed its own edition with no reference at all to Canada or to Canadian financial content.

JC-Q: How do the different editions differ?

JC-A: Well, both the 2013 Trafford U.S. edition and the updated 2021 Best Books US edition are what I wanted the original edition to be. The cover concept was always the one you see above: it’s just that when Power Publishers published the first edition, the design team there went with the cover concept of the red balloon in the blue sky.

JC-Q: But you really wanted the image of a calendar set in the future, circling July 4th as the Findependence Day selected by one of your main characters?

JC-A: Correct. The 2013 and 2021 covers are quite similar although Best Books slightly reworked it and we changed the futuristic date from 2027 to 2036.

JC-Q: So the protagonist, Jamie, still has 15 years to achieve his dream of Financial Independence while he’s still young enough to enjoy it?

JC-A: Quite right, Jon.

JC-Q: Any other big differences?

JC-A: Well, the other thing the two US edition incorporated was something some people suggested I include in the original Canadian edition but chose not to at the time. That’s the chapter summary at the end of each chapter of the key lessons that Jamie and his wife Sheena learned. The new 2021 edition retains that feature and updates some of the financial info.

JC-Q: How do you categorize Findependence Day? Is it non-fiction or is it fiction?

JC-A: I wish you hadn’t asked that one, Jon because that’s a tough one to answer. In truth, it’s a hybrid of fiction and non-fiction, which I realize is a bit unusual.

JC-Q: So which is it, if you put a gun to our head?

JC-A: First, I’d say please remove the gun. Second, I’d say it’s primarily a novel but a financial novel.

JC-Q: Like David Chilton’s The Wealthy Barber and its many imitators?

JC-A: Sure, David Chilton established this genre way back in 1989 and no one has sold more copies than him in that niche. Incidentally, David has told us he “believes” in Findependence Day and that it is “excellent.” You can find that among the many laudatory testimonials the book has gathered over the years.

JC-Q: So why the hybrid and how does Findependence Day differ from all those other Wealthy Barber knockoffs?

JC-A: Well, most of the imitators tend to be what I call “information dumps” — the focus tends to be on the financial information and the stories around them tend to be a bit thin when it comes to characterization, plot etc.

JC-Q: And Findependence Day isn’t?

JC-A: We tried to bring traditional novel-writing structure and techniques into the book so that the young people who are its target audience would first be entertained and drawn in sufficiently that they’d want to see what happened to Jamie and Sheena. Yes, we sprinkle in the financial info as the plot proceeds but not at the expense of Story. So the minute any financial dump starts to sound contrived and unlikely to occur in real life, we cut it short and returned to the story.

That’s another reason for the end-of-chapter summaries and incidentally the reason we also created two Amazon ebooks that summarize the plot and reprise the end-of-chapter summaries. They cost just $2.99: they’re called A Novel Approach to Financial Independence. (one for Canada, the other for the US)

JC-Q. In short, we tried to write a “real novel.”

JC-A. We did try and many reviewers seemed to think we pulled it off. One financial planner, Diane McCurdy, said Findependence Day is “the closest you’ll come to a great beach book that helps you make enough money to retire!”

JC-Q: How is it a beach read? Continue Reading…

Mexico: US-style Living at one third the Cost

Chacala Beach, Nayarit, Mexico. Photo credit Billy Kaderli.

By Billy and Akaisha Kaderli, RetireEarlyLifestyle.com

Special to the Financial Independence Hub

Mexico, that constantly media-bashed country to the south of the US, might be your better option for retirement.

One million Americans already call Mexico their home and it’s amazingly easy to obtain your residency visa for full-time living, most receiving theirs in a matter of days.

Snowbirds could easily add another million visitors to this number and can stay 6 months on a no-cost visitors visa!

With its proximity to the United States, both US and Mexican airlines offer non-stop flights to and from many destinations in the US. Or, of course, you could drive. So, visiting family or utilizing Medicare is much easier than if you were to live elsewhere overseas.

There are lots of reasons why Mexico is a great choice for retirement, so let’s list some:

Cost of Living

Mexico has everything that the US offers – along with a better lifestyle – at a fraction of the cost.

The Dollar exchange rate makes for attractive affordability.

The cost of a beer is 30 Pesos or about $1.50 at a bar. A lakeside lunch of grilled salmon with wine or margarita as your beverage plus a generous tip runs about $11USD per person.

Commonly used medicines at pharmacies won’t break the bank, and a consultation with a cardiologist or a surgeon is less than $40USD.

More on Medical Care

Many US doctors train in major Mexican hospitals where the “care” is still part of the healthcare industry.

Most doctors here – including specialists – are easily available through phone, WhatsApp or email and most speak English. Highly skilled dentists are abundant with oral surgeons performing teeth implants for a price less than your dental copay back home.

Assisted Living options run the gamut. Pricing for private rooms in a traditional Mexican mansion with gardens, comfort dogs, meals included, internet, laundry service and social activities and a driver to take you to appointments are about $2,000USD per month.

Housing

Here in Chapala, Mexico, all price ranges are available for both rentals and home ownership. For as little as $300 USD a month you can rent a one-bedroom furnished apartment or you can purchase a house in any of the towns which dot the lake for many times that amount.

Maids and gardeners are commonplace, and the price for plumbers, carpenters and electricians run about the same as a Lakeside lunch. Continue Reading…