I got a copy of The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future
by Chris Guillebeau a while ago and it is fantastic. It, combined with How To Make A Million Before Lunch have given me some ideas and how to for getting to my million.
With my money making challenge, I am sitting on step 15 and am doing well. My aim throughout the challenge is to set things up to produce income continually, over the long term, not just a bunch of short term, quick cash things like buying something to resell. For example, in step 14, I launched Blog To Book – an eBook guide on how to become a published author with a mainstream publishing house. This will continue to make money even when I am onto the next step.
I have a few ideas I am researching and laying plans out for the moment. There are also a lot of great case studies and ideas in these books. They are different, but both very good. The $100 Startup focuses more on businesses that started with under $100 and are now making more than $50,000 a year. In How To Make A Million the focus is more on setting up a business to ultimately sell.
There were quite a few things I learned, but to me the main things were
- Find something I can make money from. It doesn’t have to be something I love, but preferably something I have knowledge in. You just need a product or service others are willing to pay for.
- Begin with the end in mind was the suggestion from How To Make A Million. How can I ultimately sell this business and who to? Who would my target market be etc.
- You already have the skills you need – you just need to know where to look. ~ Chris Guillebeau
- When thinking about different business ideas, also think about money:
– How would I get paid with this idea
– How much would I get paid from this idea
– Is there a way I could get paid more than once?
You don’t need to reinvent the wheel to make money. Find a need and fix it. It might be with a product or there might be a service that needs rendering. If you can see a way to do something better, how can you market that and turn it into a business.
The main thing is to find and idea, research it then get to it. More often than not people sit on the sidelines and wish they had more money/wished they worked for themselves/wished they had an idea like that/were that lucky.
It’s not all about luck. It is about looking for ideas and opportunities then working on them to create your own luck!