The 5 Key Lessons from The $100 Startup by Chris Guillebeau
5 Key Lessons from The $100 Startup by Chris Guillebeau
The $100 Startup by Chris Guillebeau: Book Summary
There are a growing number of microbusinesses run by people who are making good money doing what they love. You can start a low risk business if you know how to become a Lifestyle Entrepreneur.
The $100 Startup by Chris Guillebeau is a collection of case studies detailing what the author describes as “The Unexpected Entrepreneurs”. These are business owners who started their own business to pursue their passions (as opposed to trying to sell the business in traditional startup terms). They are the Lifestyle Entrepreneurs who put lifestyle at the top of their needs pyramid, and this is how they do it.
The goal of the $100 Startup model isn’t to build a business and sell it. There are no exits. The goal of this “lifestyle business” is to keep playing the game, because it’s something you enjoy.
Guillebeau’s case studies track closely his own story as a location independent entrepreneur who traveled all of the world’s 193 countries. His focus on this business model isn’t necessarily about geographical freedom but lifestyle choice. If you could live and work anywhere in the world, you have choice about who you work for, how you do your work and what you say “no” to.
Lifestyle Entrepreneurs should focus less on innovation and more on usefulness. Be useful rather than innovative. Leave innovation to the Silicon Valley startups. Being useful means being able to solve an everyday problem that people just like you have. You don’t need to go change the world to be part of a worthwhile endeavour, you just need to be useful.
#2 The key to freedom is value
The key to freedom, Guillebeau argues, is value. The value you provide your clients/customers is intrinsically linked to your own personal freedom. If you provide significant value in solving their everyday problem, you don’t need to surround yourself with PR agencies, departments or glossy brochures, you can be yourself. That gives you the freedom to go travel or live anywhere in the world.
How to Start a Business Doing What You Love For <$100
Based on advice from the bestseller The $100 Startup by Chris Guillebeau
"It's a kick in the pants to get started on your dream and a road map for finding your way once you begin. If you're not ready to launch your own business after reading this book, you need to go back and read it again!"
- Daniel H. Pink, New York Times bestselling author of Drive and A Whole New Mind