Two Great Books on Making Money, Part 1

There are two things regarding books that I very rarely do these days: 1) purchase one (most books I either get from the library or have publishers send me for free) and 2) read a hard-copy version (I either skim the book for highlights -- which I can do in about 30 minutes -- or get an audiobook version from the library that I listen to in my car.) But over the past couple of months I broke with tradition and actually purchased and read (completely -- and took notes!) TWO hard-copy books. They were both about making money and both were AWESOME.

My original plan was to tell you about both books in one post. But as I began putting it together the post kept growing and eventually became too big IMO. So I'll tell you about the first book in this post, then highlight the second book in today's afternoon post.

The first book is The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future. Here's a summary of the book from Amazon:

In The $100 Startup, Chris Guillebeau shows you how to lead of life of adventure, meaning and purpose – and earn a good living.
 
In preparing to write this book, Chris identified 1,500 individuals who have built businesses earning $50,000 or more from a modest investment (in many cases, $100 or less), and from that group he’s chosen to focus on the 50 most intriguing case studies.  In nearly all cases, people with no special skills discovered aspects of their personal passions that could be monetized, and were able to restructure their lives in ways that gave them greater freedom and fulfillment.
 
Here, finally, distilled into one easy-to-use guide, are the most valuable lessons from those who’ve learned how to turn what they do into a gateway to self-fulfillment.  It’s all about finding the intersection between your “expertise” – even if you don’t consider it such -- and what other people will pay for.  You don’t need an MBA, a business plan or even employees.  All you need is a product or service that springs from what you love to do anyway, people willing to pay, and a way to get paid.
 
Not content to talk in generalities, Chris tells you exactly how many dollars his group of unexpected entrepreneurs required to get their projects up and running; what these individuals did in the first weeks and months to generate significant cash; some of the key mistakes they made along the way, and the crucial insights that made the business stick.  Among Chris’s key principles: if you’re good at one thing, you’re probably good at something else; never teach a man to fish – sell him the fish instead; and in the battle between planning and action, action wins.

And here's a trailer for the book:

My personal summary of the book is much shorter than the above:

There are thousands of people who started with little money invested and used skills they already had to create unique businesses that allow them to live as they want while making very good incomes.

Sounds interesting, right? It is.

The best part IMO is that the author uses TONS of real-life examples to highlight the various ways people have come up with their own businesses. He then distills the vital factors that made these efforts successful and suggests ways we all can use them to create our own businesses. It's a very nice back-and-forth (examples and then practical tips) that makes the book an enjoyable learning experience.

The examples both inspire and challenge the reader as well as really get the potential money-making ideas flowing (at least they did for me.) And it's written in a very digestible style and layout -- very, very easy to read. I read the book in short increments here and there while traveling on a couple business trips.

If you've ever thought about starting your own business, you have to get this book and check out the concepts in it. You won't be sorry.
 
Click here to read part 2 of this series.

Comments

[[email protected]&More]

I have considered buying this book but I have heard it is more inspirational than it is actually actionable... your thoughts on the reviews that day that?

[FMF]

Lance --

I think it's both, but could see how some say it's light on practical suggestions compared to "stories". Personally, I like both and that's why I liked the book.

Why don't you see if your library has a copy or if you can browse through one at a bookstore? Then you can decide for yourself if this is a book for you.

[Sunil l Entrepreneurship & Personal Finance]

I agree that it is more inspirational in nature, mainly because there is no single approach to how each case study subject made it. Your situation will dictate what you can do, how much of it, how and how well the outcome will be. It's a good read nonetheless. If you enjoyed the 4 Hour Workweek I think you'll like this. It makes you want to take action.

[[email protected]]

This seems like a pretty cool read. In your opinion, are the "practical tips" relayed through real life examples novel ideas that are unique to each situation? Or are they general inspirational ideas that can be attributed to almost any business venture? The way you describe how to book is set up makes it appear like it would a fun and interesting piece of literature, might have to pick it up for some ideas! Thanks.

[Adam Hathaway]

Sounds a bit like the 4 hour work week but with more real life examples. I will add this to my list of books to check out.

[Keith]

It's an interesting book with some practical takeaways. There are also some legitimate examples but then again, Guillebeau also uses some shady/unscrupulous people/business...Naomi Dunford for one.

[Lance @ Money Life and More]

I'll definitely have to check it out next time I'm at the library, or at least see if they have it :)

[Keith]

I have placed this book on hold at the library and am very excited to read it.

[Tom Smith]

I've read The $100 Startup and can highly recommend it. I can't speak on the other though.