Entrepreneurship

30 Apr How $62.90 Turned into a Six-Figure Business (The birth of the $100 startup)

"We rule out the possibility of great change, because it doesn’t seem realistic..."

- Leo Babauta

In honor of Chris Guillebeau's latest book, The $100 Startup, today I want to talk a little about Possibility and the question of "Why Not?" But to start...

The Death of the 'Risky' Startup

There was a time not long ago when turning an idea into a business required a massive investment. Less than a decade ago the cost of building a passion into a career required significant risk. It may have meant leveraging your home, your bank account and maybe even some close relationships, to drum up the seed capital and support. For many it meant hundreds of thousands of dollars worth of loans. Or even taking on investors and giving up a large slice of your dream, in exchange for the millions needed just to get it off the ground. And that's assuming the passion-based business was even possible - which 30 years ago, was likely not the case. The risks used to be enough to get almost anyone saying "there's no f*#%ing" way. They got so high as to convince the world that living someone else's dream (or no one's at all) was the way life was going to be. But that was then...