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For bloggers 7 Lessons to learn from “The $100 Startup”

Home/Blogging, Books for Bloggers, Motivational/For bloggers 7 Lessons to learn from “The $100 Startup”

For bloggers 7 Lessons to learn from “The $100 Startup”

Chris Guillebeau has written $100 Startup after extensive research and lots of personal experience as well. The cover page says it all. Fire your boss, do what you love and work better to live more. If you are one of the happy 9 to 5 workers, this book is not for you. This is only for people who want to start a venture. This will be specifically helpful because Chris talks here of lots of businesses and their average starting cost is about $100. Following are few of the lessons I learnt from “The $100 Startup”

 

Lesson 1: Do something for which you have passion as well as you have skills for it and a target audience

Do not start business out of passion alone. You may be passionate but you have got to have skills as well. Skills and passion are also not enough. You must have a target audience willing to pay as well.

Passion + Skill + Usefulness to others = Success

Most people make mistake of starting with only passion. Sometimes they lack skill and most of the time, they lack usefulness to others. You may love doing something and you may even be good at it. But until and unless, there is some usefulness for others, it will just not work as business!

 

Lesson 2: Target audience based on interests, passion, skills and values

New start-ups should not emphasize so much on location, age, and race. Instead they should emphasize more on the demographic factors like interests, passion, skills and values. The cases in $100 Startup mostly target based on these parameters.

Identify people in Facebook and linkedin groups of like minded people. Instead of targeting anyone and everyone, this approach certainly makes more sense with better ROI.

 

Lesson 3: Do not teach your customers how to fish. Just sell them the fish

If you go to a restaurant and order some food and then chef comes and takes you to the kitchen and shows you how cooking is done and then asks you to cook it as well; how you would react. Most of us go to hotel so that we can enjoy the ambience and we ourselves do not have to visit the kitchen. We are paying high amount for that. New businesses should learn that you have to just sell the fish and not start teaching how to fish as Karl Marx rightly says: “Catch a man a fish and you can sell it to him. Teach a man to fish and you ruin a wonderful business opportunity.”

 

Lesson 4: Good things happen to those who hustle

Hustler represents the ideal combination: work and talk fused together. A hustler does lot of creating and a lot of communicating. Good things happen to such people. Lot of networking helps them a lot. Create lot of stuff and market a lot. You are bound to make more money. There are no short cuts or alternative to hustle. $100 Startup is all about stories of hustler who persevered all the way. Chris Guillebeau is honest to the core. He does not provide any false promises.

 

Lesson 5: Business succeeds only when it provides real value to clients

Nothing will work unless you do. Any business relationship is a two way transaction. You cannot succeed unless you provide things of real value to client. Business relationship encourages recurring purchases and get more networking which will only happen if client has received things of value. This is an era of repetitive business. And you can get client second time only if he is satisfied with your first product or service. Until and unless, you provide real value to the clients, business just cannot flourish!

Lesson 6: Do not be afraid of failure

Almost every test case study mentioned in the book is the kind of failure to success story. Things might not workout as you plan. But you certainly learn important lessons to learn. Failure is simply an opportunity to begin again with newly learnt lessons. It is better to fail and learn than not to start at all. Failure should be taken with utmost optimism and converted into a stepping stone.

 

Lesson 7: It does not require million dollars to start a startup. $100 is enough sometimes!

Chris gives a lot of case studies and all of them start with a very low investment. Most of them are started with a budget around $100 which is very affordable. This is perhaps the most important lesson of all. I have seen many wannabe entrepreneurs who do not dare venture because they believe it takes millions to start a startup. Chris proves this wrong by giving lots and lots of success stories which is why this is a must read book for all wanna be entrepreneurs thinking they need lots of money.

 

Next Plan of Action:

Apart from these lessons, $100 Startup has lots of inspirational stories of entrepreneurs and lot of wisdom! The lessons mentioned above cover just the tip of the iceberg. If you find this article worth exploring and learning more on the topic, please buy the book by clicking the below link. I also happen to be an affiliate for Amazon Affiliate program. You can buy the book by clicking the following link:

The $100 Startup: Fire your Boss, Do what you Love and Work Better to Live More (For Indian visitors to Amazon.in)

The $100 Startup: Fire your Boss, Do what you Love and Work Better to Live More (For US visitors to Amazon.com)

Most of the start-ups mentioned are E-commerce ones which have their own blog in it. Hence for all the bloggers, they can think of it. If your small startup or proprietorship does not have a blog, here are the reasons why you should have a blog. Here is how you can get your blog started.

 

By | 2017-04-17T14:13:08+00:00 March 12th, 2017|Blogging, Books for Bloggers, Motivational|24 Comments

About the Author:

Harshraj Jhala is a passionate blogger and has knowledge of digital marketing. In his past, he has done MBA and worked as a consultant as well. He writes on topics related to blogging and digital marketing.

24 Comments

  1. Sonja March 15, 2017 at 9:29 PM - Reply

    Great tips, thanks for sharing!
    http://www.stylequest.se/

  2. Nora March 15, 2017 at 10:06 PM - Reply

    Interesting post and a lot of good tips! Thank you for sharing what you’ve learned. 🙂

  3. Jasmin N March 15, 2017 at 10:41 PM - Reply

    These are some great tips! I think being afraid of the failure is one of those things that holds us all back.

  4. Fillia Barden March 16, 2017 at 2:01 AM - Reply

    I am working on it! I laughed at point number 3 because many people have emailed me asking about how I make my product 🙁

  5. Maikel March 16, 2017 at 1:46 PM - Reply

    This is very interesting! I gotta check out this book. Thanks for sharing

  6. Cydney March 16, 2017 at 3:31 PM - Reply

    Sounds like a book I need to read! I love hearing inspiration stories from entrepreneurs and just people escaping the 9-5. I also love girl boss by Sophia Amaruso

  7. Katja March 17, 2017 at 2:24 PM - Reply

    Great advice. It’s always scary to jump to the unknown but you never achieve anything without taking risks.
    Katja xxx
    http://www.katnapped.com

  8. Sheri March 21, 2017 at 5:01 PM - Reply

    Great tips for people who are about to begin and do not know where to start.

  9. Kanishka Acharya March 21, 2017 at 5:01 PM - Reply

    Noted! thanks for sharing the lessons! 😀

  10. Sandra Tsai March 21, 2017 at 5:21 PM - Reply

    Great post with awesome tips! I’ve always dreamed of starting my own business, although def not anytime soon but this would be such a handy guide! 🙂

  11. Karoliina Kazi March 21, 2017 at 11:12 PM - Reply

    Thank you for sharing this info – fantastic points on taking your goals to another level!

  12. namrata March 22, 2017 at 2:03 AM - Reply

    I remember reading this book three years back when I had started an online jewellery business. It really helped me a lot and it’s a good refresher to read this post.

  13. lau March 23, 2017 at 1:09 PM - Reply

    great tips!

  14. Sabine March 23, 2017 at 1:21 PM - Reply

    Inspiring lessons. Especially the one that says that you should just sell the fish!

  15. Mellissa Williams March 23, 2017 at 1:54 PM - Reply

    Great tips, not being afraid of failure is an important one. What you need to do is learn from that failure

  16. Rose Sahetapy March 23, 2017 at 3:21 PM - Reply

    I absolutely agre, especially at point 1. Passion alone will not sustain. I’m now putting and trying to achieve some goals to the next level. Great advice!

  17. Denise March 23, 2017 at 10:24 PM - Reply

    Good tips here, also good things come to those who hustle is something I need to improve on. Thanks for sharing 🙂

  18. Maikel March 24, 2017 at 12:22 AM - Reply

    Such inspiring lessons! I will defenitly purchase this book

  19. MakeUp Fun March 25, 2017 at 6:13 PM - Reply

    These are great lessons! Especially don’t be afraid of failure… That’s completely true. If you’re always scared you’d never accomplish anything.

  20. Maikel March 30, 2017 at 7:48 PM - Reply

    Lesson 2 has truly taught me a lot

  21. Marleen March 30, 2017 at 11:49 PM - Reply

    Love the summary of this book, I think the one that resonated with me the most is you need passion + skill! Thanks for sharing.

  22. Prerna Garg March 31, 2017 at 12:29 AM - Reply

    Great tips! I have bookmarked your post in case I forget something because these tips are so important – the right kind of motivation!

    http://www.prernashighonchai.com

  23. Helene March 31, 2017 at 2:15 AM - Reply

    Interesting reading! Great tips for bloggers! Thanks for sharing.

  24. Melissa March 31, 2017 at 1:55 PM - Reply

    This is very useful. Thank you for the tip.

    Cheers,

    Melissa

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