BBVA Spark’s recommended books for entrepreneurs and innovators

They may be by your side for a few hours, a few days or a lifetime. Books are an indispensable travel companion for any entrepreneur, serving as a refuge or a source of information to find a guide on which to evolve and innovate.

The literary world has also undergone its own transformation through reinvention and innovation.

From new bookshop models to personalised boxes: this is how the literary world is innovating

The bookshop business model has been transformed. In Tokyo, the Bunkitsu bookshop opted for a model where visitors can have a coffee or access coworking spaces in exchange for an entrance fee. Its design is oriented to create a different atmosphere for bookworms to enjoy their favourite books. Another noteworthy model is that of the bookshop TuuuLibrería, where visitors decide how much they pay for the book they want to read.

Another initiative which is worth mentioning is that which was developed by the Regional Centre for Book Development in Latin America and the Caribbean (CERLALC), which has created a catalogue for innovation in public libraries in the region with the aim of providing those in charge of these spaces with a guide to promote them through the implementation of technological innovations and their adaptation.

Another example is Bookish, a startup that offers a subscription service where users get personalised literary boxes to enjoy new books. Subscribers to this service receive a monthly box at home, which includes a recently published book and several surprises.

However, in addition to entrepreneurs innovating in this sector, there are also a large number of books that allow them to obtain the necessary impetus to feed their innovative spirit.

The books for entrepreneurs recommended by BBVA Spark team members for 2023

“To read is to light a fire, where each syllable that is spelled is a magic spark whose duration is life itself”, said French novelist, poet and playwright Víctor Hugo.

On the occasion of the celebration of International Book Day 2023 on 23 April, several BBVA Spark members provide their literary recommendations to ignite that spark of magic in entrepreneurs.

Roberto Albaladejo, Head of BBVA Spark

In difficult contexts, startups redouble their efforts to develop with financial support and also by strengthening their teams. In 2014, Ben Horowitz, co-founder of the venture capital firm Andreessen Horowitz (a16z), published the book ‘The Hard Thing About Hard Things’ (translated as ‘Entrepreneurship and Startup Leadership’). In direct and simple language, Horowitz describes his experience as co-founder and CEO, explaining the decisions he had to make in complex moments and the paths he took to overcome his own weaknesses and lead in the right way.

Therefore, Roberto Albaladejo recommends this book that “provides very useful lessons on such relevant topics like the importance of changing the business model at the right time, access to financing or team management”. He adds: “These are key lessons for any entrepreneur, especially in complex market contexts such as the current one”.

María Agustina Ramírez, Head of Strategy, Product Development and Marketing at BBVA Spark

At some point in their journey, startups need to explore new markets to continue their growth. This is a complex decision, involving various factors such as competitive analysis, the search for partners that add value and learning about local idiosyncrasies. Knowledge and analysis of the economic and political contexts also come into play.

To bring these issues closer to entrepreneurs, María Agustina Ramírez recommends reading ‘The World for Sale: Money, Power and the Traders Who Barter Earth’s Resources’ (in Spanish, ‘El mundo está en venta: la cara oculta del negocio de las materias primas’). The book, written by Jack Farchy and Javier Blas, deals with the lesser known aspects of globalisation.

For entrepreneurs “it is a useful book in generating critical thinking about today’s economy, consumerism, sustainability and the implications that all this has on each of our lives”, says Ramírez.

Santiago Muguruza, Head of Venture Capital Investments in BBVA Spark

Building innovative projects is a common passion for entrepreneurs. But beyond how large companies such as Amazon, Apple or Google have been built, there are previous examples that also allow valuable lessons to be learned, such as the construction of the Panama Canal.

This is the story that Santiago Muguruza encourages readers to learn about through the book ‘A Road Between Two Seas’, by David McCullough, where the reader can delve into what is considered one of the great global engineering works of the twentieth century. “It was one of the most important entrepreneurship projects in history”, says the head of venture capital investments at BBVA Spark. “It is the first project that was massively financed by individual savers who lost everything in a context exacerbated by malaria and geopolitical conflicts”, he says.

What lessons can entrepreneurs learn from it? In Muguruza’s opinion, the book captures “a story of innovation, perseverance and self-improvement, but also of excesses and failures in an entertaining way. It is very useful to gain perspective”.

Teresa Martín, Director of Open Innovation at BBVA Mexico

Transforming models or creating new ones that meet needs and respond to new concerns is a reflection of the entrepreneurial and innovative spirit. Along the way, questions inevitably arise as to how business leaders can be prepared for challenges they have not faced before or how advances in technology will impact work models.

To reflect on these issues, Teresa Martín recommends reading ‘Work Disrupted, Opportunity, Resilience and Growth in the Accelerated Future of Work’, a book written by Jeff Shwartz, founding partner of the consulting firm Deloitte, who “from the fundamental belief in the human power of innovation and creativity presents possible challenges that should be on everyone’s radar”, she says.

Martín also recommends three other books that aim to shed light on the mission to innovate: ‘No Rules Rules: Netflix and the Culture of Reinvention’, by Reed Hastings and Erin Meyer; ‘Science, Technology and ‘Startups’, by Pere Condom-Vilà, and ‘Moonshot Thinking: Iván Bofarull’s ‘Transform disruptive innovation into an opportunity’, books that offer readers the chance to learn the ins and outs of successful companies and how technology evolves, as well as key lessons to help them embark on a journey of transformation.

In addition to the aforementioned books, there is a wide variety of books that allow you to approach the universe of entrepreneurship and innovation. After all, books can be the prologue to the entrepreneur’s next idea and a valuable companion on their journey.