Anybody who wants to start a side-hustle or quit a full-time job and follow their passion must be reading this book. This book gives a blueprint and realistic examples of people who started with 100$ or less and are earning a full-time income out of their microbusinesses.
Book Summary (The 100$ Startup” by Chris Guillebeau)
Here are the keynotes from the book “The 100$ Startup” by Chris Guillebeau:
- There’s nothing wrong with having a hobby, but if you’re operating a business, the primary goal is to make money.
- What people want and what they say they want are not always the same thing; your job is to figure out the difference.
- When you focus on providing value above all else, your business will be successful. And value means “helping people”.
- To avoid overcomplicated things, explain your business with a 140-characters mission statement.
- Use a survey to understand customers and prospects. The more specific, the better.
- “Plan as you go” to respond to the changing needs of your customers but launch your business as soon as possible, with a bias toward action.
- Not every passion or hobby is worth building into a business, and not everyone will want to have a business that is based on a passion or hobby.
- Most people want more of some things (money, love, time) and less other things (stress, pain, debt). Always focus on what you can add or take away to improve their life.
- To start a business, you need three things: a product or service, a group of people willing to pay for it, and a way to get paid.
- Convergence represents the overlapping space (intersection) between what you care about and what other people are willing to spend money on.
P.S. This is my book summary of “The 100$ Startup” by Chris Guillebeau. These points could be direct quotes from the book, and/or my thoughts and interpretation of those lines. Most importantly, this write-up is dedicated to the key points from this book.
In case you are looking for, here are the links to buy “The 100$ Startup” by Chris Guillebeau:
About the Author
Chris Guillebeau is a writer, entrepreneur, and traveller. During a lifetime of self-employment and ventures ranging from online publishing to volunteer work in West Africa, he has visited nearly every country on earth before the age of 35. The host of the World Domination Summit, an international gathering of creative people, Chris is focused on encouraging individuals to live fulfilling lives with inspiring and practical advice and his website is visited by more than 300,000 people a month.
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