I’m fired up and ready to go after reading The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future by Chris Guillebeau
I have ideas floating around in my head, a long ‘to do’ list forming, and motivation to continue in this small business adventure. Let’s do this!
8 Lessons I Learned From The $100 Startup
Chis has been a successful entrepreneur for a while and he’s traveled to almost every country in world–oh yeah and he’s only 35. Chis interviewed thousands of successful entrepreneurs and share many inspirational stories intertwined with helpful advice.
This book has a ton of information and action points, but here is a a few things I learned in The $100 Startup:
1. Following your passion doesn’t make you successful. Having a passion that others care about (and will pay for) leads to success.
Passion or skill + Usefulness= Success
2. Create something of Value- Chris’ definition of value is something that helps other people. Solve a problem, save time, reduce stres, etc.
3. Every morning spend 45 minutes to activities that improve your business–not just maintain it.
4. Perform a business audit regularly: Where do you make money? How good is your messaging? Are your prices where they should be? How are you marketing to existing customers? Are you tracking, monitoring, or testing, enough? Where are the big missing opportunities? (questions from p 219-221 of the book).
5. Talk about yourself more on social media. [This one shocked me.] People follow you and your brand for a reason, they don’t want your curation of the entire internet.
6. Small tweaks can increase profit: Increasing site traffic, conversion rates, or increasing average sale price by small increments can prove to be a large profit over time.
7. Don’t price your service per hour or based on the cost to produce it; price the item according to the benefit it provides.
8. You’ve got to hustle. Hustling can be better than paying others to market for you–you’ll benefit from the experience and gain new relationships along the way.
What Am I Going to Do Now?
1) I’m going to become my own publisher and write an E-b00k hopefully in time for Christmas–more to come later.
2) Review and redefine the core benefits that I offer through writing and coaching and focus on those benefits.
3) Create a list of items that will improve my business and work on them each day.
4) Create a FAQ for my coaching service. (p 121) *Updated- Hey check out my FAQ based of $100 Startup.
5) I have a longer list I’m working on, but I’ll spare you the details for now.
If you are considering starting a small business, or improving your existing business then reading this book will be worth your time and money. Plus if you buy from my link, you’ll make me smile 🙂
Have you read The $100 Startup? What lessons did you learn and how will you apply them to your business?