The $100 Startup

by Chris Guillebeau

To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.

Lesson 3: The Magic Formula Bringing the first two ideas together, here is the not-so-secret recipe for microbusiness alchemy: Passion or skill + usefulness = success

the secret to a meaningful new career was directly related to making people feel good about themselves.

Ask three questions for every idea: a. How would I get paid with this idea? b. How much would I get paid from this idea? c. Is there a way I could get paid more than once?

Strategy 3: Sell What People Buy In deciding what to sell, the best approach is to sell what people buy—in other words, think more about what people really want than about what you think they need.

Follow these two basic rules: 1. Pick something specific as opposed to something general. Don’t be a “business consultant” or a “life coach”–get specific about what you can really do for someone. 2. No one values a $15-an-hour consultant, so do not underprice your service. Since you probably won’t have forty hours of billable work every week, charge at least $100 an hour or a comparable fixed rate for the benefit you provide. OPENING FOR BUSINESS4 I will help clients __________. After hiring me, they will receive [core benefit + secondary benefit]. I will charge $xxx per hour or a flat rate of _____ per service. This rate is fair to the client and to me. My basic website will contain these elements: a. The core benefit that I provide for clients and what qualifies me to provide it (remember that qualifications may have nothing to do with education or certifications; Gary is qualified to book vacations with miles because he’s done it for himself many times) b. At least two stories of how others have been helped by the service (if you don’t have paying clients yet, do the work for free with someone you know) c. Pricing details (always be up front about fees; never make potential clients write or call to find out how much something costs) d. How to hire me immediately (this should be very easy) I will find clients through [word-of-mouth, Google, blogging, standing on the street corner, etc.]. I will have my first client on or before ___·[short deadline]. Welcome to consulting! You’re now in business.

“A desk is a dangerous place from which to view the world.” —JOHN LE CARRÉ

“Business opportunities are like buses; there’s always another one coming.” —RICHARD BRANSON