Being successful in business is difficult to achieve. Fortunately, Chris Guillebeau provides us with valuable tips that we can apply to our business and become successful with running it. In his business and management book entitled $100 Startup, he provides us with a guide on how to grow your business even with a minimal investment. In writing the book, Guillebeau identified 1,500 individuals who have established successful businesses from a modest investment of $100.
In The $100 Startup, the author tells us that you do not need an MBA, a business plan, or even employees to succeed. As long as you have a product or service that stems from what you truly love, success is not a far-fetched idea. Here now are seven lessons that we can learn and apply from this business and management book.
Follow some passion
To be successful with your business, you need to do something that you truly love and turn it into a business. Successful entrepreneurs have learned to mix passion and excitement. They do something because they love it and it has value to others.
If you are good in one thing, you’re probably good at something else
One of the case studies in this book involved a waitress in London. Since she was good at her job, she often received big tips and complements from her customers. One of them said to the waitress that she will be in good in PR. This business and management book explains how she eventually used her skills from her low paying job to help other clients succeed.
Divide your time between work and talk
Working hard on creating products and services is not enough. You also need to promote it. This is called “hustling” or the art of self-promotion. You have to communicate with both customers and readers. As much as possible, do it yourself than delegate it.
Bootstrap and fast track… always
To succeed with your business, you also need to experience failures from time to time. Luckily, your minimal investment will not make recovery difficult. Chris Guillebeaus’s business and management book tells us that a quick start allows you to easily regroup and give it another try.
Invest in winners
The best time to invest on your business is after its initial success. Once it is up and running, that is the time you can devise ways to make the business more successful.
Organic Growth vs traditional advertising
Most of the businesses featured in The $100 Startup did not grow through traditional advertising. Instead they worked on improving their product or service and then grew it through advertising. So you need to build relationships first and not invest much on paid ads.
This business and management book tells us that growth is not always necessary. You can choose to earn a good living and serve your clients well without trying to establish a huge company.
Robert Janitzek offers information on the best business and management book worth reading by entrepreneurs. You can check out his blog at www.robertjanitzekbooks.com.