I usually ask entrepreneurs who pitch to me what books they're reading currently, and am very disappointed when they can't come up with a title. Anyone who wants to keep up with modern trends needs to be reading at least one book a week. This is especially true for entrepreneurs because the buck stops with them. They have to wear many hats which means they need to be learning new skills on the job all the time, and putting these into practice. 

A common excuse is, "Who has the time?" However, when you add up the hours you spend on reading newspapers and posts on LinkedIn, Facebook, Quora and Medium, you will realise that there's no shortage of time - you just need willpower and discipline to invest this better. If you can't make the time to read in order to keep on top of the game, you're going to start falling behind, and this is going to be far more expensive in the long run! When your start-up fails, you'll find you have all the time in the world, but it'll be too late by then. 

Lots of founders justify their lack of reading by saying, "We don't read a book, but we do read lots of stuff online. We read blogs; Quora; Medium; and posts on LinkedIn, and that helps us to keep updated. "

While I agree there is a lot of value in reading online, the big problem is that a lot of this is very shallow, because it is designed for people with short attention spans. It's dumbed down, and doesn't have much depth. While long form articles can be valuable, most people prefer short reads, which are usually very superficial. Most of them are poorly written, because they have not been edited or polished. 

This is in sharp contrast to a good quality book, where professionals invest a lot of time in making sure that the writing is of high-quality before it's published. 

Books are far better sources of learning, not just because the quality of writing is better - it's also because you are much more receptive when reading a book. Typically, when you read a book, you immerse yourself in it. There are no distractions, and it encourages deep thinking. A good book is designed so that it allows you to have a conversation with the author. To get the most from reading, you need to engage with the author and read actively - you can't just passively expect the words to diffuse into your brain. You need to be thoughtful about what you're reading, and think about how you can apply the information the author is providing. 

The problem with online content is that it's extremely easy to get distracted by clickbait articles; ads; videos; emails; and Facebook. The truth is that it's not designed to educate you - it's crafted in order to distract you and to get you to click on ads! Before you know it, you find you've spent two hours online, but learned precious little. In order to get the best ROI on reading, you need to start reading books.

The truth is that you can often learn far more by reading a book written by an expert, as compared to actually meeting him. You may never be able to meet Warren Buffet, but by reading what he has written, you will be able to get inside his brain, and understand why he thinks the way he does. While face to face learning is great, when you factor in the time, money and energy you need to invest in order to do this, you can see how much more valuable reading can be. You can read and re-read at your own pace, in your own comfortable surroundings - and if you have questions, you can always email the author. 

Books are such a great bargain, and it's a shame that we fail to make use of this huge opportunity by refusing to read them. I think this is because many people still haven't mastered the art of extracting the information a book contains. They need to learn to read actively, but this can be a challenging skill to master, and school fills you with so many bad habits about reading, that many people dread opening a book. This is a self-inflicted disability, but one which is easy to fix. The good news is that the more you read, the better you will get at it! And the reason Bill Gates has so many books on the table in front of him is that he reads multiple books on varied topics in parallel. This helps power readers to learn new ideas through cross pollination.

Book offer a great level playing field - you don't have to live in Silicon Valley to read about why Elon Musk does what he does - his biography will tell you pretty much everything you need to know! Books can be great teachers, and the right book can change the way you view the world. You don't need to be a book worm or a voracious reader - you just need to be disciplined. A founder who reads has a huge edge over his competitors who don't, because he is a far more efficient learning machine.

Which books should you read? The last thing I want to prescribe is a reading list, but I personally prefer books which have stood the test of time, rather than the currently fashionable bestseller. 

Another criticism about books is that they provide only theoretical knowledge, and this is of little use in the real world. I think this is rubbish. Books are usually written by experts who have become an authority in their field because life has taught them a lot. They have been kind enough to take the trouble to share their practical hard-earned wisdom with others by writing it down rather than hoarding it - please make the most of their generosity!

As Mark Twain said, "A person who won't read has no advantage over one who can't read."