Book Reports · Entrepreneurship

$100 and a Startup

The post covers some points on Chris Guillebeau’s “The $100 Startup.” Overall I found the book enjoyable to read, and inspiring, but without much deep discussion. It’s a pretty high-level summary of a lot of the aspects that go into entrepreneurship with the focus on small (<$100k per year) one-man shops, which may just be perfect for me where I am right now. Points that struck a chord with me:

  1. p.8, another book to check out: Pamela Slim’s “Escape from Cubicle Nation” – the title expresses exactly what I’m trying to do. I’ll note this book as also recommended in “Education of Millionaires” by Michael Ellsberg
  2. “…it helps to have an offer: a combination of product or service plus the messaging that makes a good case to potential buyers.”
  3. p. 38, “‘If you make your business about helping others, you’ll always have plenty of work'”
  4. p. 57, “…email signups [is] the only metric I monitor on a frequent basis (If all’s going well with new subscribers, everything else should be OK.)”
  5. p. 63, “As much as possible, keep your work ‘in the cloud’ by using onlne services such as Google Docs and Dropbox. This way, you can access it from anywhere and don’t have to worry as much about keeping your data with you.”
  6. p. 65, “Digital publishing tends to fit into at least a few categories: one-off products, fixed-period courses, and recurring subscriptions.”
  7. p. 76, “Traditional demographics are: Age, Location, Sex/Gender, Race/Ethnicity, Income. New demographics are: Interests, Passions, Skills, Beliefs, Values”
  8. p. 120, FAQ should answer: how do I know this really works? How do I know this is a good investment? How do I know I can trust you with my money? What do other people think about this offer? Can I find this information/get this product without paying? How secure is my information?
  9. p. 120, FAQ answers should be: This really works because…, this is a great investment because…, you can trust me with your money because… (or you don’t have to trust us because we work with an established, trusted third party), other people think this is great, and here’s what they say…, free versions aren’t as good, or would take a lot of work to get, your information and privacy are 100 percent secure because…
  10. p. 122: have a incredible guarantee or none at all
  11. p. 123: over-deliver. Give extra for free to create happy customers.
  12. p. 177: “…a recurring billing model will produce much more income over time than will a single-sale model”
  13. p. 235: things to focus on instead of fire-fighting: business development, offer development, fixing long-standing/systemic problems, pricing review, and customer communication
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