Knowledge is power, here’s how to get more
In any competitive environment, most players will look for a way to edge out the competition.
Most of the time, that means looking for shortcuts. That’s just human nature.
Other approaches? Ivy League colleges, world’s best coaches, expensive trainings… we’re surrounded by ways to try and get a leg up.
But one way of gaining a competitive advantage that is often overlooked is reading.
Reading books (and not just listening to them) is a great way to gain more in-depth knowledge than reading summaries or Instagram posts with related information. Plus the big upside – if you choose to read – is it’s affordable, readily available, and very few people are taking advantage of it.
Just look around. The amount of time spent actually reading continues to decrease as the accessibility of alternative, less time-consuming mediums such as videos, podcasts, and webinars increases.
So much so that, a few years ago, the National Endowment for the Arts reported that reading was at risk.
Their data found that the number of Americans reading books declined by 7% in the last decade. And according to the American Academy of Arts and Science, the amount of time spent reading declined to 16 minutes per day from 2003 to 2018. In comparison, the amount of time spent watching television increased during that same period.
These are unfortunate developments but something you can use to your advantage as you try to find “your edge.”
You’re probably already seeing (and feeling) the increased competition in eCommerce. As a result, more and more online businesses are being created, and entrepreneurs like yourself must find a way to push their way to the top.
The benefits of reading can help you as you build and run your own online business.
Here are just five of the benefits you get with a healthy reading appetite.
- A stronger brain,
- A more robust vocabulary,
- An ability to empathize,
- A way to alleviate stress, and
- A deeper, more restful sleep. better sleep
Each of these benefits equips you to face the challenges that come with entrepreneurship.
- A stronger brain allows you to make decisions when it comes to the direction of your business.
- Ability to communicate clearly what your business is and what you are offering.
- Empathy allows you to understand your customers so you can serve them better.
- Reading gives you a healthy break from the rigors of starting and running a business, so you can keep coming back the next day.
- Sleep. Ask any successful business person, and they will tell you about the importance of getting enough sleep
Warren Buffet reportedly spends five to six hours a day reading newspapers. “That’s how knowledge works,” he told students in an investment class at Columbia University. “It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”
As you can see, reading can give you an advantage even in the hyper-competitive world you’re in.