The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future

by Chris Guillebeau

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.

Often, the combination of freedom and value comes about when someone takes action on something he or she loves to do anyway: a hobby, skill, or passion that that person ends up transforming into a business model.

more you understand how your skills and knowledge can be useful to others, the more your odds of success will go up.

“What did you not foresee when starting up?” Answer: “I didn’t know I was starting up!”)

Plezier hebben jn wat je doet is belangrijk

“Is there anything else we should know about your business?” Answer: “Yes. Stop calling it a business! I’m having the time of my life.”)

profitable businesses typically run solely by one person without much in the way of startup capital.

Follow-your-passion model.

Low startup cost.

At least $50,000 a year in net income.

No special skills.

Full financial disclosure.

Fewer than five employees.

Erica Cosminsky grew her transcription team to seventeen people at one point, but by working with contractors instead of hiring employees, she retained the freedom to keep things simple.

The easiest way to understand skill transformation is to realize that you’re probably good at more than one thing.

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.

Passion or skill + usefulness = success

Product or service: what you sell 2.People willing to pay for it: your customers 3.A way to get paid: how you’ll exchange a product or service for money

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...

Most important: merge your passion and skill with something that is u...

“Give a man a fish and he’ll eat for a day. Teach a man to fish and he’ll eat for a lifetime.” This might be a good idea for hungry fishermen, but it’s usually a terrible idea in business. Most customers don’t want to learn how to fish.

the V6 Ranch is selling happiness.

Precies, er moet een onderliggende reden zijn voor een service of product en niet gewoon "ik verkoop dit want dit"

the secret to a meaningful new career was directly related to making people feel good about themselves.

As you begin to think like an entrepreneur, you’ll notice that business ideas can come from anywhere. When you go to the store, pay attention to the way they display the signage. Check the prices on restaurant menus not just for your own budget but also to compare them with the prices at other places. When you see an ad, ask yourself: What is the most important message the company is trying to communicate? While thinking like this, you’ll notice opportunities for microbusiness projects everywhere you go. Here are a few common sources of inspiration.

An inefficiency in the marketplace. Ever notice when something isn’t run the way it should be, or you find yourself looking for something that doesn’t exist? Chances are, you’re not the only one frustrated, and you’re not the only one who wants that nonexistent thing. Make what you want to buy yourself, and other people will probably want it too.

New technology or opportunity. When everyone started using smart phones, new markets cropped up for app developers, case manufacturers, and so on. But the obvious answer isn’t the only one: Makers of nice journals and paper notebooks also saw an uptick in sales, perhaps in part becau...

A changing space. As we saw with Michael’s example in Chapter 1, car dealerships were going out of business, and he was able to rent his first temporary mattress space on the cheap. Not everyone would have thought of locating a mattress shop...

A spin-off or side project. One business idea can lead to many others. Whenever something is going well, think about offshoots, spin-offs, and side projects that could also bring in income. Brandon Pearce, whom we’ll see more of in Chapter 4, founded Studio Helper as a side project to his main business o...

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?

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?

More than anything else, value relates to emotional needs. Many business owners talk about their work in terms of the features it offers, but it’s much more powerful to talk about the benefits customers receive. A feature is descriptive; a benefit is emotional.

Decide on your product or service. 2.Set up a website, even a very basic one (you can get a free one from WordPress.org). 3.Develop an offer (an offer is distinct from a product or service; see Chapter 7 for help). 4.Ensure you have a way to get paid (get a free PayPal account to start). 5.Announce your offer to the world (see Chapter 9 for more on this). 6.Learn from steps 1 through 5, then repeat.

“An ounce of action is worth a ton of theory.”

“If you make your business about helping others, you’ll always have plenty of work.”

As you build your escape plan, keep your eyes on the prize: creating real value by giving people what they really want.

Pick something specific as opposed to something general. Don’t be a “business consultant” or a “life coach”—get specific about what you can really do for someone.

No one values a $15-an-hour consultant, so do not underprice your service. Since you probably won’t have forty hours of billable work every week, charge at least $100 an hour or a comparable fixed rate for the benefit you provide.

My basic website will contain these elements: a.The core benefit that I provide for clients and what qualifies me to provide it (remember that qualifications may have nothing to do with education or certifications; Gary is qualified to book vacations with miles because he’s done it for himself many times)

At least two stories of how others have been helped by the service (if you don’t have paying clients yet, do the work for free with someone you know)

Pricing details (always be up front about fees; never make potential clients write or call to find ...

How to hire me immediately (this should...

make sure she connected the right passion with the right audience.

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.

He decided to speak only Spanish for an entire month, with no exceptions.

Moet ik eens proberen met frans

(Passion + skill) → (problem + marketplace) = opportunity

It’s usually easier to operate a business while roaming the world than it is to start one. Be sure to spend plenty of time getting set up before you hit the road.

if you’re going to operate your business on the road, you’ll need to learn to think about your business as much as you think about being on the road.

New Demographics: Interests, Passions, Skills, Beliefs, Values