Monday, February 5th, 2007...7:15 pm
“The Entrepreneur Story” Is…
The story of my first entrepreneurial project, yes. But frankly, you’ve been reading about The Hundred Dollar Business since December, so I don’t want this content project to be strictly about what I’ve been doing; I think that would be extremely boring. 
It’s also YOUR stories, everyone’s stories, really. A lot of them. 100 of them, in fact.
This new project is called “The Entrepreneur Story”. I’m fascinated by how entrepreneurs get started… Here are the basics of what I’m intending to accomplish:
The Content
At the end of this next project, I will have written a 150 page book: 50 pages detailing The Hundred Dollar Business (”my story”) and 100 pages exploring what other entrepreneurs experienced on their first project (”your story”).
Basically, I want to get 100 profiles from 100 entrepreneurs…
1. 50, one from each U.S. state,
2. 50, from a list of keywords “high schooler”, “MBA grad”, “Europe”, “serial entrepreneur”, “micro-enterprise”, etc.
In essence, I would like to create a readable swatch of how a highly diverse group of entrepreneurs got started. I think we will all learn a lot. 
The Business Model
Writing a book and compiling information isn’t a business– but taking a product (the book), and finding a substantial customer base (market) to actually purchase the book (sales)… will definitely require using business skills.
Get Customers
Find a minimum of 100 people who commit (via paying $1 each as a pre-paid order) to buying the book for $15 once its published.
Plan A, Plan B, Plan C
Plan A: If we meet our goals to get the book published, then we would make $1500, excluding the cost of publishing/shipping the book.
Plan B: If we don’t meet our goals in finding a publishing option, then we will make $100 and e-mail a PDF of the book to all of the customers, which is not money wasted. ($1 for 150 pages of content? What a steal.)
Plan C: If we don’t even meet the goal of getting 150 pages of content, then… nevermind, that isn’t possible. (Just kidding– what I learned from the kiosk is that everything is possible, and you’d better have a backup plan.)
Plan C (for real): So, if we really don’t meet that goal, everyone’s $1 will be refunded (I will personally mail those 100 letters with $1 bills in them), plus I will lose the cost of stamps and envelopes for 100 letters ($39 for postage + $2.79 for envelopes).
Find 3 Viable Publishing Options.
The options I propose are:
1. Self-publishing & shipping to customers.
2. Publishing as an e-book through lulu.com (it can either be bought as an e-book/PDF or shipped as a physical book)
3. Getting a contract through a traditional publishing house.
Measurable Results
1. Write/compile 150 pages of content.
2. Raise $100 for next project.
3. Find 100 customers for the book.
4. Determine 3 publishing options that are viable and use at least one of them.
5. Go through the process of getting the product into the hands of the customer: ordering, packaging, shipping, etc.
6. Create a new database of entrepreneurs and their experiences.
7. Learn about the business of writing.
8. Learn about product development (taking the content through the stages of writing, editing, publication, distribution).
9. Improve my document/information management skills (through keeping track of 100 profiles & 100 customers!)
10. Complete a value-providing writing project.
The Sum-Up
This is really the bare bones of the project. I know I’m missing some things– help me out by making suggestions. What am I missing? What seems lofty? Is it do-able, really?
There is definitely more planning to be done–
How am I going to collect these profiles?
Can I really write 7.5 pages 5 days a week for a month?
Is the plan sound?
How will I collect those $1 pre-orders?
How will I set up the project?
Can this really be considered a micro-business project?
Let me know what you think.
Once the planning is done, I’ll set a schedule, and a deadline, and get this thing going!
29 Comments
February 5th, 2007 at 7:30 pm
[…] Here’s a link to the HDB blog, talking about the specs of the project. I’ll be looking for 100 profiles of entrepreneurs based on geographical location (the 50 states) and random keywords (I’ll soon post this list). […]
February 6th, 2007 at 12:37 am
O’Lynn…sign me up as your first customer. Good luck!!!
February 6th, 2007 at 12:00 pm
You’re on, Mel. Thanks.
February 6th, 2007 at 3:51 pm
[…] “keyword” if you’re from a state already taken. No Comments Leave a Commenttrackback addressThere was an error with your comment, please try again. name (required)email (will not be published)(required)url […]
February 6th, 2007 at 3:55 pm
I’ll send you some Start Up Princesses your way to tell their “fairytales” or maybe their nightmares as it may be!
Great idea and yes! I’ll buy a book too and if you need, I’ll buy 2.
February 6th, 2007 at 5:28 pm
Kelly,
Thanks! That’s awesome. Yes, sometimes it can be a nightmare.
But, we all just keep coming back for more! I’ll definitely put you on our customer list.
Thank you!
February 6th, 2007 at 7:50 pm
you used the word “swatch”. that’s a funny word.
February 7th, 2007 at 12:20 am
I was thinking we could have “swatch” as a keyword for one of the profiles, but then, that doesn’t make sense.
I’m glad you like it.
February 7th, 2007 at 4:59 am
I love your idea! Count me in!
February 7th, 2007 at 9:25 am
Marina, I definitely will, thanks!
February 7th, 2007 at 12:54 pm
Carolynn,
I have several friends who have started up their own businesses; who are entrepreneurs, and I will gladly forward their information on to you. They will more than likely be interested in participating in your project.
To name a few, off-hand -
My friend Ryan Mendenhall of Yard Game Central. He lives in Provo, Utah.
My friend Nick Redd of PoopRemoval.com. He lives in SLC.
My good friend Carly Tooke, founder of Progressions Academy of Dance in American Fork, Utah.
My friend John Eagleston, founder of Nerak Enterprises. John now lives in Mesa, Arizona.
I would talk to BYU and UVSC Business Schools for potential participants, as well. And even Jennette Bennett from BusinessQ magazine.
I’m not sure if you’re interested in social entrepreneurship, but I have a non-profit organization, a fledgling sun protective clothing business (which has been an adventure, needless to say), and I’m starting up another e-commerce venture - BurnsDance.com.
Anyway, I hope at least one of these suggestions will prove helpful and fruitful for the project!!!
February 7th, 2007 at 1:41 pm
Danielle,
Thanks for the ideas and referrals, I really appreciate that!
I will get in touch with you & hopefully we can talk with some of these entrepreneurs!
February 7th, 2007 at 1:45 pm
Carolynn,
I’ve been following your experiment since you launched the Hundred Dollar Business and think this new idea is even better! After the initial investment of time and self-publishing costs, you’ll have an inventory of books that can be sold outside the 30-day window.
I’d love to throw in my own story - creating a funeral service supply company (www.cotcovers.com - ICK! warning: these products are for purchase by funeral directors), selling teddy bears handmade from precious clothing (www.treasuredmemorybears.com) and launching a funeral industry marketing and management blog.
The first year of my start-up was slow, the second I tripled sales and the third (2006) we tripled again. It’s amazing to remember that I once worried about handling part-time employees, and now I have three!
My company’s based in Florida, but we serve all of North America.
Thanks for considering us. Good luck to you.
February 7th, 2007 at 1:51 pm
Tim,
Thank you! You have definitely been a loyal reader!
You’re on– I’d love to hear your story. I’ll put you on the list and let you know additional details soon.
February 8th, 2007 at 5:23 am
I like the idea. I know a lot of entrepreneurs enjoy hearing success stories of other entrepreneurs, and it looks like you already have some readers here who would be interested in the product. I for one would like to purchase a copy. Where do I pay?
One idea for collecting stories would be to set up a wiki and allow anyone to share their story, then choose from what has been contributed to publish the book. The wiki itself would be a valuable resource that could be monetized through ads. You could even do some sort of promotion to give away some of the books to random contributors on the wiki.
February 8th, 2007 at 11:50 am
Chris,
Thanks! I will add you to our customer list– I’m still sketching out the purchasing options, and will let everyone know soon.
One thing we will be doing that relates to the Wiki concept is to take the collaboration features that Yepic provides, to do just that. I think the user-generated content experience that this project will provide is really going to be a key component! I’m excited to learn more about it– thanks.
February 8th, 2007 at 11:52 am
[…] Check out this post to read about the project, and this post to see the list of keywords we are looking for regarding the 100 entrepreneur profiles. Good times. Posted by olynnduncan Filed in Uncategorized […]
February 9th, 2007 at 11:43 am
[…] Calling All Entrepenuers! Carolynn Duncan, of Hundred Dollar Business fame, has launched her latest $100 business: she’s compiling a book about her experience starting HDB and the experiences of other entrepeneurs on their first business. Check out her idea here. […]
February 9th, 2007 at 1:47 pm
Carolynn..I’m in. There is a great book out there by Po Bronson called ‘What should I do with my life’. The format is excellent. He interviews and tells the stories of a few people the good, the bad and the results. It’s a great read and maybe a good example for the format/flow of your book.
btw…make the $1 for the book…but make sure people could donate more too. I know I would to see a passionate entrepreneur keep going (you).
www.bouncebase.com/?shop=po+bronson
February 9th, 2007 at 8:22 pm
David,
Thanks for visiting! You’re added to the list and I will have to check out that book. (I just glanced at the link– and now I have a lot of questions for you!)
Based on some suggestions from these smart blog readers I have, I’ll be setting the price based on publishing cost + profit margin + product value + shipping. (Shipping probably added on the side, depending on the option).
I chose the $1 and $15 arbitrarily, and I will be putting some thought into what the revenue model/covering cost of product should look like.
Ya know, all those fun details! Thanks again for your ideas.
February 14th, 2007 at 11:02 am
Carolynn,
I love it. Good luck and let me know if we (FundingUniverse.com) can help in any way.
Best,
BB
February 14th, 2007 at 1:03 pm
Brock,
Thanks for visiting, and I appreciate the offer of help!
We may very well look to you & Funding Universe for some suggestions on entrepreneurs to contact across the nation.
February 15th, 2007 at 9:51 am
[…] (This is taken from a post on 2/5/07) […]
February 21st, 2007 at 11:09 am
I want to submit my entrepreneur story. I’m moonlighting now by providing services to a medical device start-up. I think stories like mine are common and could help others realize that yes, it can be done.
February 21st, 2007 at 10:27 pm
Jon,
That sounds great– the classic entrepreneur story, moonlighting.
Send us an e-mail at hundreddollarbusiness@gmail.com, and we’ll get you set up. Thanks!
March 5th, 2007 at 10:02 pm
[…] (This from the announcement of the project on February 5th. I’ve bolded the goals I feel are most compelling.) […]
March 6th, 2007 at 3:03 pm
[…] So, not only was our goal to find 100 entrepreneurs to contribute their story to the book… but also to find 100 customers willing to buy the book! […]
March 6th, 2007 at 10:04 pm
[…] 8. license creative works (write a book (like “the Entrepreneur Story“), compose/play music, code software) […]
March 21st, 2007 at 11:40 pm
[…] “I’m trying to help spread the word regarding the Hundred Dollar Business Entrepreneur Story project. Can you help spread the word about this project? We are looking for entrepreneur stories and PR for the project.” […]
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