I must admit that over the years I’ve read many eBooks, books, and blog articles. I’ve also spend a few hundred dollars on these premium guides. This may seem foolish on the surface but I’m a firm believer in the saying that knowledge is power.

Should you be spending money on eBooks? Yes I feel that any investment in yourself is a good investment. Today I’m going to look at both sides to the argument so that you can better determine if it makes sense for you to invest your money into online products.

What are the benefits of reading and investing in eBooks?

• You pick up someone else’s expertise. When you read an article or pay for a premium product you’re acquiring an abundance of knowledge. You know have learn from the expertise of someone that has been there and done that.
• You speed up your growth. With picking up expertise from someone else, you can now speed up your own growth. You won’t make the same mistakes as others and you’ll be guided in the right direction.
• You get ahead of the competition. While your competition is making the same mistakes and being led by the blind, you can invest your time into premium products that will help you stick out.
• You learn new tips to apply to your life. I’ve never been a big fan of just looking at the cost of something. I try to look at the value. I consider what the value of the book is to me and my life at the point in time. I figure that a $10 book on networking will at least yield me a $100 over the next few months. Now imagine what a life changing guide on fitness could do for your life? What if that manually finally forces you to start your business? How do you value that?

With those benefits being listed, what are some of the negatives involved with spending your money on eBooks?

1. Information overload. There’s only so much new content that your mind can retain. Your eventually going to peak. You’re going to overload your mind with information.
2. Waste of resources. Your time and money are both valuable. If you get nothing out of a premium product, it’s going to be a waste of your resources.
3. You can find the same information for free. When you purchase a premium product, you’re paying for convenience. You have the convenience of having all of this information in one place. The setback is that you can find this same content for free without spending your money on it.
4. You need to do more. There’s only so much that you can read about. I certainly became an information junkie. I would consume information and not do anything with it. This is a sad way to live life. I eventually start to read less and apply more. I’ve seen much better results through the latter strategy.

At the end of the day the decision is all yours. Will you invest your time and money into eBooks? Where will you focus your energy?

I recently read John Krakauer’s Into the Wild.   This book details the true-life story of Chris McCandless, a twenty-four year old drifter who died in the Alaska Wilds back in 1992.  McCandless came from an upper-middle class family and graduated from Emory University with a 3.72 GPA.  He had the privileged background and intelligence to perhaps accomplish anything he desired. But he was restless, and instead fled his family for a nomadic lifestyle.

His heroes were London, Tolstoy, Thoreau.   When he entered the Alaskan “bush”, he did so with only five pounds of rice and a gun that was unlikely to kill larger game.  He ended up starving to death after just four months of solitude.   He died pursuing a dream, but there has been a lot of criticism.  Some argue he had a death wish, or that he was too “unprepared.”   That he was arrogant and lacked the survival skills to accomplish his dream, which also makes him selfish.

I don’t want to compare something as common as starting a business to going into the Alaskan wilds–but I related to this character.  There have been times where I’ve second-guessed myself and thought perhaps I should have worked for others longer, so that I would be better prepared for owning my small business.  After all,  wasn’t it somewhat arrogant and selfish of me to start a business so early?  My family depends on me and so do my clients—wouldn’t a little more seasoning have been ideal?   Despite these doubts, I know I was ready.   But perhaps you’re facing uncertainty in your own life?  Perhaps you’re worried you lack the experience, money, etc….

Then again, you never truly know what you’re capable of until you take that risk.  No business is guaranteed to succeed and you won’t know for sure until you try.  So long as you have the basic competency required, who’s to say that waiting would be better?  After all, how many people spend their whole lives talking about what they are “going” to do rather than just going ahead and doing it?

Ways to Prepare

Maybe you’re considering starting your own business.  Perhaps you’ve already started but find yourself in over your head.  Here are some ways to prepare for the daunting journey that is being self employed:

Mentors

It’s almost a cliche, but nothing is more important than having a trusted mentor (or multiple mentors).  When you’re stuck, these are the people with the experience to help you resolve your issues.  Just remember that mentorship is a “two way” street.  For example, I try to remind my mentors of business opportunities, to have them speak at events I throw, etc., so that hopefully I’m giving to them as well.

Books/Reading

I’ve always learned best from reading.  Perhaps I’m a visual learner.  Reading relevant books and/or magazine/newspaper articles in your industry is one of the best things you can do to learn and stay ahead of newer developments.  In many fields, this isn’t just recommended: it’s a requirement.

Seminars/Classes

This is another way to prepare and in many instances is a bare minimum of what is required.

Start/Join a Group

Perhaps you can start or join a group to learn more about your field.

Blog/Teach/Speak

Teaching is one of the best ways to learn.

Bring in Another Expert

Ask for a second opinion, bring in another expert (if so permitted in your field).

Research

In this modern age, the answer is likely out there somewhere.  There’s probably not any issue you can face that someone hasn’t already dealt with.

Conclusion

There’s no worse feeling in the world than being in over your head.  When you’re starting a business, however, there are going to be times when you feel stressed out and unable to deal with certain problems or issues.  When that occurs, I hope the above list helps you out.  And if you feel you lack the requisite skills, then perhaps the above can help give you the confidence to finally break away and start your own business.