A writer decided to travel around the world to encourage creative and driven individuals to follow their dreams no matter what the cost. Fortunately he also believes that a business can be started with even the smallest budget as long as you are willing to put in the hard work yourself.
After traveling around the United States he realized that many business owners started with anywhere from 1000 to 100 bucks and sometimes even less. He felt by sharing their stories around the world, it would not only motivate others to follow their dreams of owning and running their own business, but also show them that it not only can be, but has been done! So he wrote a book about it.
Why is his book so important you might be asking? Well, with over 300,000 visitors a month, he might just be on to something.
Check out some of the highlights of his interview with Forbes along with a success story from one of the people in his book:
Why did you call your new book “The $100 startup”? Why is it possible now to start a company for almost no money?
It’s now possible to reach people (customers, clients, subscribers, etc.) based on shared ideals and values. Microbusinesses of one sort or another have been around since the beginning of commerce, but the ease of connecting with people is a new phenomenon. Also, a large percentage of the population is being comfortable with making purchases online. These things create a perfect storm of economic convergence. It’s never been easier.
That’s why it’s so important to focus on the question of *usefulness*. How will your idea serve others?
Can you share a story from your book of someone who created a successful business with $0 invested?
Most people spent *some* amount of money, even if it was just the cost of a $50 business license or a $10 domain name. But far more important than money was the investment of sweat equity — taking the time to make something meaningful. Brett Kelly wrote Evernote Essentials, a guide to the free Evernote software. His initial goal was that it would make $10,000 over the course of a year. One year later, it had made more than $100,000. Initial startup costs were essentially zero.
What are your top three tips for a $100 startup to get off the ground?
1. Turn your general idea into a specific idea. What’s the product or service? Who is going to buy it? How will you get paid?
2. Don’t wait to get going. Aim for 30 days or less to actual startup time. Do whatever it takes to make that happen — get a free website from WordPress.com, sign up for a PayPal account if you don’t have one, and put your offer out to the world even if you don’t think everything is 100% ready.
3. Tell everyone you know about what you’re doing. Don’t spam people, but do contact your friends to say, “Hey, I’m doing this thing — want to help? Can you spread the word?”
4. A bonus, fourth tip: after the offer is out and you get initial feedback, commit to a process of continuous improvement. Every day, identify 1-2 actions you can take to further develop the project.
These tips and motivational stories really help. Not only can you see that it is working for others you now know a few things to get started and keep the ball rolling.
Tip # 2 I feel is very important for every new business venture. Do you agree with this tip, why or why not?