Working in IT we are always hearing stories of IT Startups and their insatiable demand for money or as it is called in the industry “burn rate”. Chris Guillebeau’s $100 Startup is book that chronicles start ups that don’t need large amounts of cash flow to keep running. Chris chronicles many entrepreneurs who start businesses with little cash and find success. He started by identifying 1,500 individuals that started businesses that earn$50,000 or more from their modest investment. The book is made up of 50 of these individuals that he wanted to highlight. The people he highlights do not possess specialized skills.
He has gleaned a lot of great advice from these people. The most important is understanding what you have an “expertise” in and what people will pay for. Guillebeau starts the book off with a story of a sales professional who is let go and needs work. A friend who owned a furniture store had a large inventory of mattresses and asked him if he wanted to try to sell them off on craigslist. He moved his inventory to an old car dealership and sold some through craigslist and eventually setup a store. He knew nothing about selling mattresses but it slowly grew into a very profitable business.
This is just one of the many stories that Chris details. He tells us specifics to of how much many of the businesses make and what steps they took to build their business to the success they are today. This isn’t a book full of general advice but profiles of specific entrepreneurs with real results.