Book Review: The $100 Startup By Chris Guillebeau

The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future

Author: Chris Guillebeau

 

Publisher: Random House Digital, Inc.

 

Date: May 8, 2012 

 

 

About The Author

Chris Guillebeau is the New York Times bestselling author of The $100 Startup and other books. Chris travels the world and writes for a small army of remarkable people at ChrisGuillebeau.com.

Follow Your Passion and Create a New Future
How much money do you need to start a business?

Chris Guillebeau believes that borrowing money to start a business is now completely optional. The quest for personal freedom lies in the pursuit of value for others. The author advises entrepreneurs "to focus on the point of convergence between what you love to do and what other people are willing to pay for".

This book is about people who start their own microbusinesses without investment, without employees, and often without much of an idea of what they're doing. They almost never have a formal business plan and they often don't have a plan at all except to "try this out and see what happens." The new entrepreneurs think carefully about all the skills they have that could be helpful to others and then take action.

My Thoughts
This book has been on my "want" list for several months so I was very pleased when I found a digital copy at the public library. I have read both favorable and unfavorable reviews of the book so I was anxious to read it myself.

Many of the "unexpected entrepreneurs" in this book lost a job or left a job and were forced to start a small business from scratch to pay their bills. They say "necessity is the mother of invention" and that was definitely the case in many of the stories in this book. These people have turned their passion into profit while creating a more meaningful life for themselves.

The primary lesson that I learned from this book is the importance of mindset. You really have to be determined, persistent and dedicated to making your business work. That means your entire life must revolve around this business 24/7. The case studies in this book are NOT get-rich-quick schemes. The owners of these small businesses had to work very hard to achieve success. The startup cost might be $100 but the amount of work, sacrifice and perseverance that is required is tremendous. I am afraid the author makes it look a bit too easy.

This book offers inspiration for readers who have lots of passion but little money to invest in a startup.

My Rating: 4 Stars Out Of 5

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Shock And Awe Economics

The presidential election is over. Now is the time for our country to get a grip and face reality. Our economy is in trouble, unemployment is at record high levels and the national debt is out of sight.



It seems like our society is on a wild spending spree that never ends. I found an ad in a magazine that was published in the 1940s...during World War II. The ad encouraged the American people to;


Use it up...That's the thing to do in wartime. Eat every bite of food, save every scrap of soap, make a patriotic habit of stretching all the supplies in the house so they go further, last longer.

Wear it out...This year old coats, old shoes, are a badge of honor. They show you're sensible enough to know that one way to help win the war, to keep prices down, is to wear your old things out!

Make it do...Before you spend a penny in wartime, ask yourself, "Do I really need this? Or do I have something now that will do?" As you patch and darn and turn, you're keeping prices down.

Or do without!...When you put your money in War Bonds, savings, taxes, insurance....you're putting your money to work fighting the war and building a sound, stable nation for the peace to come.

This ad is encouraging frugal spending habits to prevent war-time inflation. "It is buying too much when there's too little to buy that sends prices up. And when prices go up...and keep going up...your savings, your future, are in danger." Remember, it's the things you don't buy that keep prices down!

An individual citizen can't solve the national debt problem but individuals CAN deal with their own personal debt. This magazine ad from "The Greatest Generation" should remind us that SAVE is not a four-letter word.

 

See that prices go no higher
Be a saver...not a buyer.

 

This post was taken from a United States war message prepared by the War Advertising Council and approved by the Office of War Information ~ 1940s.

 

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Book Review: The Simple Dollar

I recently grabbed The Simple Dollar: How One Man Wiped Out His Debts and Achieved the Life of His Dreams by Trent Hamm on my Kindle while it was being offered as a freebie.  Debt free living is a popular topic these days and I was interested to learn how the author wiped out his debts and achieved the life of his dreams.  This book was inspired by the author's blog, The Simple Dollar.
Mr. Hamm explains how he and his wife found themselves deep in debt when his son was a baby.  He started reading books on personal finance, economics and philosophy.  He was determined to learn how a family could balance all the aspects of modern life on a limited income.  Over a period of three years,  the author got his finances under control, quit his job and devoted himself to writing full time. 
This book gives detailed information about how this family did what many American families dream of doing.  The author emphasizes the importance of communicating with your partner and setting realistic goals together.  He outlines a practical method of debt repayment that will be very effective if you are willing to sacrifice and stick with the plan you design.  He describes how he cut back on spending and also sold household items on eBay to supplement the family budget. 
The author explains that many people feel overwhelmed by their debt load.  He wants his readers to know that it is not hopeless. This book gives practical, common sense advice on how to manage your money and how to manage your life.  I found the book motivating and inspiring.  I like to read a book with a happy ending that explains exactly how you can have the same outcome.