Book Summary: The $100 Startup
Chris Guillebeau’s $100 Startup is a look into the world of micro businesses. You don’t need to create the next Facebook to make enough money to improve your life.
Related Book Summaries:
The First 20 Hours – Joshua Kaufman
Side Hustle – Chris Guillebeau
Quotes:
Don’t waste your time living someone else’s life.
Value is created when a person makes something useful and shares it with the world.
Plans are only good intentions unless they immediately degenerate into hard work.
The $100 Startup Book Summary Notes:
- A micro business is typically a one-person business.
- Customer, passion and skills are all ingredients in a strong business.
- Sometimes the best business is one adjacent to your skill sets.
- Offerings must provide value to customers.
- What benefits does your product offer? Focus your marketing around that.
- A launch campaign can be important but so is having as large an audience as possible to begin with. Make sure you participate in your business’s area of influence online and in person where possible.
- Subscription products can be a great option for a lifestyle business as you make a sale and continue getting paid each month.
- If you do decide to really scale up or your business has some explosive growth, bring on more people to help.
- As your business expands you should focus on one of two areas, either expand your offerings vertically by offering your existing customers more services or products. Alternatively, you can expand your offering horizontally by offering and creating new products or services to sell.
- Keep your business plan and strategy simple so you can focus on execution and growth.
