The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future
by Chris Guillebeau
29 popular highlights from this book
Key Insights & Memorable Quotes
Below are the most popular and impactful highlights and quotes from The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future:
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.
think more about what people really want than about what you think they need.
A desk is a dangerous place from which to view the world.” —JOHN LE CARRÉ
Good things happen to those who hustle.” —ANAÏS NIN
In the future, marketing will be like sex: Only the losers pay for it.
If you make your business about helping others, you’ll always have plenty of work.
To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.
The new reality is that working at a job may be the far riskier choice.
As you begin to think like an entrepreneur, you’ll notice that business ideas can come from anywhere.
Don’t waste your time living someone else’s life.
Value means helping people. If you’re trying to build a microbusiness and you begin your efforts by helping people, you’re on the right track. When you get stuck, ask yourself: How can I give more value? Or more simply: How can I help my customers more?
Scott Adams, the creator of the Dilbert comic series, explains his success this way: I succeeded as a cartoonist with negligible art talent, some basic writing skills, an ordinary sense of humor and a bit of experience in the business world. The “Dilbert” comic is a combination of all four skills. The world has plenty of better artists, smarter writers, funnier humorists and more experienced business people. The rare part is that each of those modest skills is collected in one person. That’s how value is created.
Find out what people want, and find a way to give it to them. Give them the fish!
Ask three questions for every idea: a. How would I get paid with this idea? b. How much would I get paid from this idea? c. Is there a way I could get paid more than once?
For fifteen years, John and Barbara Varian were furniture builders, living on a ranch in Parkfield, California, a tiny town where the welcome sign reads “Population 18.” The idea for a side business came about by accident after a group of horseback riding enthusiasts asked if they could pay a fee to ride on the ranch. They would need to eat, too—could John and Barbara do something about that? Yes, they could. In the fall of 2006, a devastating fire burned down most of their inventory, causing them to reevaluate the whole operation. Instead of rebuilding the furniture business (no pun intended), they decided to change course. “We had always loved horses,” Barbara said, “so we decided to see about having more groups pay to come to the ranch.” They built a bunkhouse and upgraded other buildings, putting together specific packages for riding groups that included all meals and activities. John and Barbara reopened as the V6 Ranch, situated on 20,000 acres exactly halfway between Los Angeles and San Francisco. Barbara’s story stood out to me because of something she said. I always ask business owners what they sell and why their customers buy from them, and the answers are often insightful in more ways than one. Many people answer the question directly—“We sell widgets, and people buy them because they need a widget”—but once in a while, I hear a more astute response. “We’re not selling horse rides,” Barbara said emphatically. “We’re offering freedom. Our work helps our guests escape, even if just for a moment in time, and be someone they may have never even considered before.” The difference is crucial. Most people who visit the V6 Ranch have day jobs and a limited number of vacation days. Why do they choose to visit a working ranch in a tiny town instead of jetting off to lie on a beach in Hawaii? The answer lies in the story and messaging behind John and Barbara’s offer. Helping their clients “escape and be someone else” is far more valuable than offering horse rides. Above all else, the V6 Ranch is selling happiness.
The missing piece is that you usually don’t get paid for your hobby itself; you get paid for helping other people pursue the hobby or for something indirectly related to it.
it’s always better to start from where you are than to wait for everything to be perfect.
Style with substance = impact
Passion or skill + usefulness = success
There’s no rehab program for being addicted to freedom. Once you’ve seen what it’s like on the other side, good luck trying to follow someone else’s rules ever again.
student and an ambitious Washington, D.C., career climber. By the time she started college, she already had the goal of big career achievement in mind. From the top of her class at the University of Virginia School of Law, she went on
Microbusinesses aren’t new; they’ve been around since the beginning of commerce. What’s changed, however, is the ability to test, launch, and scale your project quickly and on the cheap. • 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. Everything else is completely optional. • If you’re good at one thing, you’re probably good at other things too. Many projects begin through a process of “skill transformation,” in which you apply your knowledge to a related topic. • Most important: merge your passion and skill with something that is useful to other people.
Bringing the first two ideas together, here is the not-so-secret recipe for microbusiness alchemy: Passion or skill + usefulness = success
Don’t think innovation; think usefulness.
In deciding what to sell, the best approach is to sell what people buy—in other words, think more aboutwhat people really want than about what you think they need
The next step is to transfer your passion into a business model.
Tip: When thinking about different business ideas, also think about money. Get in the habit of equating “money stuff” with ideas. When brainstorming and evaluating different projects, money isn’t the sole consideration—but it’s an important one. Ask three questions for every idea: a. How would I get paid with this idea? b. How much would I get paid from this idea? c. Is there a way I could get paid more than once?
Compared with working just to make a living, it’s much easier to do what you love and get paid for it. You just have to find the right passion, the right audience, and the right business model.
