“I just sit in my office and read all day.” Warren Buffett.
“The absence of information breeds poor performance.” Janice Bryant.
“Education is the kindling of a flame, not the filling of a vessel.” Socrates.
They have all said it, billionaires, successful entrepreneurs, philosophers, scientists: ignorance is your worst evil.
To start Cypher, I believed in planning, thinking strategy, identifying my niche, etc... I pretty much took every single step recommended to an entrepreneur, and despite that, the journey is not easy. I quickly realized that I was ignorant about SO many aspects of business. After sitting in the corporate world for more than 7 years, I did not realize how much and how fast the world has changed.
So I quickly got on an educational journey and filled in the gaps.
Books can teach you everything you need to know
For my marketing strategy, I read They Ask You Answer, a great book by Marcus Sheridan about content marketing. It blew my mind, not because it’s a great book – and it is – but because of how much I did not know about marketing.
What? I need to write blogs and make videos? I need to educate my clients? I need to put out FREE content?
And here I am, still thinking that marketing was about a pushy sales pitch and knocking on doors. I still remember how popular MLM was a few years ago. Okay. Maybe a decade ago, but still!
But this is to get to one point: continuous learning is inevitable to an entrepreneur, especially in today’s world. I have found books to be a great way to learn. I can confidently say that every big decision I’ve made was inspired by a book.
It is also because good books are written by successful entrepreneurs who have been there and done that, who are a few chapters ahead of us, who are giving us the tips and best practices that have worked for them.
Rich Dad and Poor Dad by Robert Kiyosaki taught me how to create assets. Profits First by Mike Michalowicz taught me that profit is a habit. The E Myth by Michael Gerber taught me that being an accountant does not mean I can successfully run an accounting business (this one was a slap in the face but a good aha moment). And the list goes on…
Business books are not the only ones that will help you with your entrepreneurial journey. Any book that would make you a better person and a better leader is a good read. I’m thinking here of the Power of Now by Eckhart Tolle or Rising Strong by Brené Brown (You might say I’m being biased on this last one but I stand by it – UofH proud!)
This is why I started the virtual business book club. I want to share this value with all the ambitious entrepreneurs I connect with. Trust me, if it will change your life - Yes, I said it!
Find inspiration anywhere
Learning does not just happen in books. It occurs anywhere as long as you are willing! Inspiration is what teaches me the best. I get inspired by anything that crosses my way. It could be a conversation with a friend, a movie on Netflix, a documentary, a meditation, or a moment at the gym.
Since I watched The Founder on Netflix, I have been replaying a specific scene over and over in my head of the conversation between Ray Kroc and his financial advisor telling him, “you are not in the hamburger business, you are in the real estate business”. I meditated this and I realized that business is full of hidden opportunities and strategies that make it a successful one.
I started learning about the theory of mixed products and services, about how Mcdonald’s makes more money on the fries and coke than on the burger. I understood the importance of financial strategy and how it helps business owners thrive. I then figured out how to use my expertise in accounting to make financial strategy a way to help other ambitious entrepreneurs reach their goals. It was like a domino effect of learning curves.
When I watched the Madame CJ Walker movie, I learned that persistence is key. I learned that I would hit roadblocks as an entrepreneur, that it is not a comfortable journey, but that if I keep going, learning, and failing quickly, I will have my breakthrough! It might be at 52 years old like Ray Kroc, or I might be on the 40 under 40 list.
This gives me the drive and passion I need to keep going.
The truth is we are ALWAYS learning. The secret is just to trigger your conscience to acknowledge it and store the knowledge somewhere in your brain because you will likely use it again.
Learning and technology: How artificial intelligence is taking over the business world
You might be thinking about why I jumped into technology. Well, it’s simple. You cannot use technology if you don’t learn. I also want to say you cannot learn without using technology. Let me explain.
We often hear reluctance to technology and phrases like “It will take over our jobs” or “it will ruin humanity”. If you have these thoughts, I have an answer for you “if you can’t beat em, join em” as says Elon Musk.
Let’s take a second and think about what technology looked like 15 years ago and what it looks like now. Scary right?
New jobs have emerged, others have vanished, and the times continue to change. We cannot control the evolution of AI. What we can do is learn how to manipulate it before it manipulates us. We can continue to develop our critical thinking, our brainpower to do things that bring more value to the world. We can use technology to automate the mindless tasks that have been taking away from our creativity and innovative powers.
Let me use accounting and finance as an example since it is MY zone of genius. I cannot believe the number of applications and automated tools that emerged since I got into the accounting program at the University of Houston: Hubdoc, Receiptbank Clarity, to name a few.
That is because while I was learning excel, debit, and credits, the cloud was already way ahead of me.
It makes us think: If this ecosystem was created in less than 10 years, will accountants even exist in the next 10?
I’d say YES. Accountants are smarter than just entering data or coming up with formulas on an excel sheet. They first ensure compliance, but now can also help with strategy, business advisory, coaching, and systemization. They know about the guts of a business and are the best ones to advise you on your journey.
Technology makes that possible because they now have the TIME to learn, adapt their skillset, innovate, be creative, and help in more ways than ever!
Learning helps you adapt to changing times and ensure success in an uncertain, everchanging, tech-crazy future.
How?
- Read books
- Research
- Use resources and online content
- Look for inspiration.
- Stay ahead of the technology game before you find yourself on the sidelines.
We have seen a new trend about self-education and the non-necessity of a college degree through Warren Buffett's followers, Robert Kiyosaki’s and Gary Vee’s. This might be true for some and not for others.
I refer back to what I said earlier about not learning the cloud accounting tools in college, and how marketing class never mentioned content marketing. I felt betrayed in a sense, but then I thought about it.
College will certainly not teach you to be a good entrepreneur or to succeed in your business. I could go on and on about the topics school doesn’t teach you. Financial literacy is one of them. Most things you learn in college will probably be outdated by the time you graduate. But it will teach you how to learn, it will teach you critical thinking, it will teach you to strategize, and to have structure. And this is your foundation for learning.
But this is also to say it does not stop there.
As entrepreneurs, we must know what we don’t know. To reduce risk in your business, you must seek knowledge. Entrepreneurship is an unpredictable journey. Knowledge is the only confidence you will ever get.
Curiosity is a value of Cypher for all the reasons I mentioned above. It refers to learning, self-education, innovation, creativity, and more. These concepts are all interrelated and will make you a better entrepreneur.
If you would like to jump on this educational train with us, connect with us.
