The Richest Man in Babylon
The Richest Man in Babylon is a great book for anyone new to your company culture, as it reinforces the idea that constant development, building knowledge and determination in work will bring you the rewards you desire. At The Rural Business Community, we have a ‘Learning Library’, whereby we encourage our team to read a selection of books to help boost their knowledge and performance. This idea has worked really well and I recommend it to any business owner. I would suggest that it is one of the first books any new employees read; not only does it explain the founding principles and importance of personal financial planning , it also helps to ingrain the ideology of your company culture.
Aside from the financial lessons (paying yourself first, the value of life insurance, owing your own home and having a retirement plan) the most valuable element of the book for me was the principle of investing in yourself. This fictional book is a great motivator and instills the values of hard work and development of knowledge. The best way you can increase your earning is by investing in ourselves. You and your team can do that by continually learning and striving to develop ourselves.
If you work in a financially rooted industry, The Richest Man in Babylon can help with your marketing. From a marketing perspective, this book teaches you to really emphasise the power of financial knowledge. Teaching others and equipping them with knowledge is far more valuable than simply telling them what to do.