The $100 Startup is 304 pages spread over three parts and fourteen chapters. The various parts focus on:
- Unexpected Entrepreneurs
- Taking it to the Streets
- Leverage and Next Steps
Guillebeau also included an appendix with 25 case studies.
Unexpected Entrepreneurs
The book began with many stories highlighting people who began businesses because of unfortunate circumstances such a job layoff. Lessons learned—you can make a living by creating something of value and selling to others who have a need for this product or service.
The key is finding a skill or passion that you can convert into a valuable asset. As Guillebeau noted, “You just need a product or service, a group of people willing to pay for it, and a way to get paid” (2012, loc 417). To keep costs down, you can test your product idea at a small scale and make adjustments. You can grow your business as you improve it.
It is important to note that you do not have to lose your job to start a new business. Having a steady income stream is a great way to test your ideas with financial security. As your ideas develop and your business succeeds, you can then make the switch.
One thing that stood out to me was the number of powerful stories of people who launched a business with minimal cash and time. Guillebeau interviewed a significant number of businesses for these stories. His criteria required that businesses met four of these six factors:
- 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
These stories highlighted the fact that I have a chance with my business.
One of the most important points of the book was to create a product or service that your customers want, not something that you want them to have. It has to address their pain point. “You didn’t go to the restaurant to learn to make a new dish; you went to relax and have people do everything for you” (Guillebeau, 2012, loc 491).
Throughout the book, Guillebeau offered strategies for defining a business, developing a product and service, creating a web presence, advertising, and setting up a way to get paid. He also shared other strategies for keeping costs down. For example, a strategy for controlling costs for many businesses was to use virtual assistants. The use of virtual assistants was especially prominent when businesses started out.
At the end of each chapter, Guillebeau highlighted the key points, which captured the essence of each chapter. These key points provide a quick reminder of the book.
Taking It to the Streets
Part II – Taking it to the Streets focused on five specific areas: creating a business plan, building the offer, launching your product, self-promoting, getting capital for your startup through unconventional means.
This section provided great tips for putting ideas into action. While each chapter had wonderful ideas, there were some chapters that stood out to me. For example, make it as easy as possible for your customers. Answer their questions—frequently asked questions is a great way to address concerns and share information. Guillebeau stressed not going for the hard sell. People like to buy, but not be sold to. Another tip for building an offer is to create an offer they cannot refuse by providing an amazing guarantee. Along with this recommendation is striving to overdeliver on your promise. This will help to create satisfied customers.
Chapter 8 shared strategies for launching your product as a film company would launch a new movie. Part of the launch is to create buzz and excitement before you release your product. Guillebeau shared a 39-step product launch checklist. These steps will help get your product noticed.
Finally, Guillebeau’s strategies for self-promotion resonated with me. These are strategies I see other entrepreneurs use with success. The most important one is to be generous and helpful. Help others without keeping score. Part of this strategy is giving away products and resources for free as a means for others to get to know, like, and trust you.
Leverage and Next Steps
The last part of The $100 Startup is about taking your business to the next level. In this section, Guillebeau provided strategies such as making tweaks to your business for growth, creating partnerships or not, documenting your business as a way to refinement, planning for the long term, tracking metrics, and enjoying the freedom.
As with this section, there were lots of tips to help small businesses succeed. But, I enjoyed the stories highlighting how different entrepreneurs overcame different obstacles.
A website supports this book. The website shares different checklists and worksheets that Guillebeau referenced.
In the end, I found this book to be inspirational as I work on my business. Through the stories of other people, I gained ideas and confidence that what I was doing was possible. If you are a small business owner, I recommend The $100 Startup. You will find ideas to help you get started and succeed through rough patches.
Additional Reading
These books will provide you with ideas for taking your business to the next level.
- Book Review: The Lead Machine: The Small Business Guide to Digital Marketing
- Book Review: Content Chemistry: The Illustrated Handbook for Content Marketing
- Book Review: DotCom Secrets: The Underground Playbook for Growing Your Company Online
- Book Review: Duct Tape Marketing Revised and Updated: The World’s Most Practical Small Business Marketing Guide
- Books Review: Starting a Business QuickStart Guide
- Book Review: Rise of the Youpreneur: The Definitive Guide to Becoming the Go-to Leader in Your Industry and Building a Future-Proof Business
In the spirit of full disclosure, this is an affiliate link, which means that if you purchase this item through my link I will earn a commission. You will not pay more when buying a product through my link. I only recommend products & systems that I use and love myself, so I know you’ll be in good hands.
Plus, when you order through my link, it helps me to continue to offer you lots of free stuff. 🙂 Thank you, in advance for your support!
