The $100 Start Up Summary: There is a focus on different case studies where investors have started passive income streams from relatively small investments of $100 or less and have been able to generate large returns from their relatively small investments.
Title: The $100 Start Up
Author: Chris Guillebeau
Publisher: Crown Business
Date Published: 2012
Subject: Financial & Investing
Pages: 304
About the author:
Chris Guillebeau is an American blogger, author and a compulsive traveller. Chris is so well traveled that he has visited every country in the world before he was 35.
That fact is utterly remarkable, some people can go there whole lives not leaving the country they live in whether its personal choice or due to unfavorable circumstances. The amount of life skills you would get justifies you spending the couple hours to read this book. Chris has created other books including The Art of Non-Conformity, which really sums up his character, not wanting to be one person who will just conform for the sake of it.
The $100 Start Up PDF: No this book is not available for free download, you will be required to purchase the book.
Chapter Summary:
Part 1 – Unexpected entrepreneurs
Chapter 1: Renaissance
Chapter 2: Give them the fish
Chapter 3: Follow you passion….maybe
Chapter 4: The rise of the roaming entrepreneur
Chapter 5: The new Demographics
Part 2 – Taking it to the streets
Chapter 6: The one page business plan
Chapter 7: An offer you cant refuse
Chapter 8: Launch!
Chapter 9: Hustling: the gentle art of self-promotion
Chapter 10: Show me the money
Part 3 – Leverage and next steps
Chapter 11: Moving on up
Chapter 12: How to franchise yourself
Chapter 13: Going long
Chapter 14: But what if I fail?
The $100 Start Up Review:
Guillebeau completed his study based on a much larger pool of cases around 1,500, which Chris researched, however the 50 selected have been determined to be the most interesting. Most people think starting a business can cost thousands of dollars, however Guillebeau goes out to try and prove everyone wrong. Included in the book are 50 case studies of real life examples, which is contrary to how much people think a business costs to start up.
One of the key takeaways I had from the $100 Startup book, is things don’t need to be perfect, you don’t need this amazingly detailed plan and hold off starting until you have completely planned. No you just have to have an idea and give it a red-hot go. There is nothing to lose.
Most of these cases have small teams being 1-5 people so the concepts are very relatable to the average Joe who is first going to start out.
There are 3 lessons in these books:
Convergence – the point between something you enjoy doing, your passion and something which people want
Skill Transformation – What skills do you already have that you can use, are they useful to others?
Passion is only 1/3 of the equation; you also need skills and customers. This is the magic formula. Start with a product, find people who want the product, and then establish a payment method.
I somewhat disagree with this, some situations the persons skill/niche/product can be so specific the market is so hard to find and sell to. Would it not be better to identify where your skills are at, what interests you, research the market and find out what is missing and then establish your payment medium.
If you want your passion to be more than a hobby, focus on income and costs.
Keep your plans simple, because action beats them every time.
Make sure you grab a copy and check out The $100 Startup Chris Guillebeau.
