The life-changing book that a young entrepreneur must read

What's the lifeblood for any business?

Take a small guess.

.

.

.

Did you guess customers? If you did, then you're absolutely right.

Your customer is the number one priority in your business.

You'll need your customers to:

• validate your product idea with them,
• consult with them to understand their pain points
• be in business (obviously) by adding value to them through your product or service.

That's why you need to understand a little bit of human psychology.

You need to understand what makes people tick.

Importantly, you need to persuade people enough to make them not just your customers but intensely loyal ones.

So, which book is a life-changing one for any young entrepreneur?

Influence: The Psychology of Persuasion by Dr Robert Cialdini.

Not only is it an incredible read but also jam-packed with extensive research cases, ranging from everyday occurrences to outright bizarre ones.

The book is divided into 6 principles (or what the author describes as the weapons of influence):

1. Reciprocation - Why we love mutual interaction. In other words, why we love to offer something (information, money, deals, etc) in exchange for something.
2. Commitment and consistency - Why it’s harder for you to quit something (e.g. your business) after you’ve been at it for a while.
3. Social proof - Why people look to others (for evidence, approval, to ease doubt) when making important decisions. Think of customer testimonials or reviews for your product or service.
4. Authority - Why people obey those who are in authority. (Robert demonstrates a chilling case study that will baffle you).
5. Liking - Why most people say yes to people they know and like, and strangely, how liking can influence people to comply to requests made by complete strangers.
6. Scarcity - Why people admire or perceive something as more desirable or expensive when it’s in short supply.

As an entrepreneur, you need different perspectives to solve any business problems you encounter.

If your customer acquisition strategies have stagnated, a little knowledge in human psychology might come in handy.

However, as Robert Cialdini points out, those 6 weapons of influence should be used legally and ethically.

They should be used to influence people in a positive way but not to make your customers feel deceived or scammed.

So if you want to acquire, retain and wow your customers, you'll first need to understand the psychology behind it - the psychology of persuasion.

Influence by Dr Robert Cialdini is truly a life-changing book for any young, upcoming or experienced entrepreneur.