I recently finished reading this book – 100$ startup by Chris Guillebeau. It was one of the most enjoyable reads amongst all the books I have read so far. Apart from the start-up knowledge, I liked some ideas in the book that are not only relevant for the startup but also in one’s career. In the post today, I will touch a few of them.
1. The first concept is about Value. Value is defined as “Something desirable and of worth, created through exchange or effort”. Value means the helping people achieve something they wanted to achieve. Value is not about the features or what you want to offer. It is the core benefit that is realized by customers internal or external. Best businesses/careers are built when passion and needs converge.
Google Keywords Planner is an easy way to find the volume of demand. This concept is not only useful for business but for careers. When you do something you are passionate about – you remain happy and if its the same what others value – you become valuable and earn more money.
2. The next concept is about Life. Exemplified through the below quote,
“I’m not a businessman; I’m a business, man” – Jay-Z
We do what we do to earn money but more importantly – we do it for enjoying life.
3. Understand what customers want actually. They rarely want to do it themselves. They want more Love, but less stress, They aspire for more money but less of conflict, They want more free time with less uncertainty.
4. Don’t shy giving away freely. Business is built on loyal communities of customers who would refer your business and make it grow for free
“In the future, marketing will be like sex: Only the losers pay for it.”
(Fast Company magazine).
5. This is an amazing articulation and that is why it caught my attention.
Charlatan is all talk, with nothing to back up their claims. A Martyr is all action with plenty of good work to talk about but remains unable or unwilling to do the talking. A Hustler represents the ideal combination: work and talk fused together.
6. Pricing should always be done to equate the benefits/value but never cost.
“Business opportunities are like buses; there’s always another one coming.” — Richard Branson
7. Even if you do not know something how to do – never say a NO to a business opportunity. This is so very important. Most losers do the opposite.
8. Action beats planning – Start slow, start small but don’t delay action.
“Your time is limited, so don’t waste it living someone else’s life.”
9. Dont think about money required. 36% of the startups required less than 100$ as Initial Investment. Yes I know, the survey sample is biased 🙂
Let me know if you had some takeaway from the post above in the comments section