The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future

To start a business, you need three things: a product or service, a group of people willing to pay for it, and a way to get paid. Everything else is completely optional.

everything happened in slow motion.

The basics of starting a business are very simple; you don’t need an MBA (keep the $60,000 tuition), venture capital, or even a detailed plan. You just need a product or service, a group of people willing to pay for it, and a way to get paid.

Passion or skill + usefulness = success

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.

The easiest way to understand skill transformation is to realize that you’re probably good at more than one thing.

Not everything that you are passionate about or skilled in is interesting to the rest of the world, and not everything is marketable.

we’ll examine it, convergence represents the intersection between something you especially like to do or are good at doing (preferably both) and what other people are also interested in.

Many of the case studies are from businesses operated strictly by one person, which closely relates to the goal of personal freedom that so many respondents identified.

Many businesses require specialized skills of some kind, but they are skills that can be acquired through a short period of training or independent study.