Chapter 1. Ones Own skill now put to work

Question 1

How to achieve freedom

Answer 1

having Value

Question 2

When looking for money one should think

Answer 2

How can i earn money, not where can i cut cost

Question 3

freedom is connected to

Answer 3

Responsibility

Question 4

Value

Answer 4

something useful that can be shared with the world

Question 5

Baseline test for a micro business

Answer 5

Can you explain it to your grandmother

Question 6

Convergence

Answer 6

Where Skill and passion meet with usefulness

Question 7

Skill transformation

Answer 7

when you’re skills at something transfer over into other skills. for example a teacher is good at more than just teaching, (communication, adaptability, planning, etc.)
So consider all your skills and how they transfer.

Question 8

Magic formula

Answer 8

Passion/skill + usefulness = success

Question 9

Essentially, What do you need

Answer 9

1. product or service: what you sell
2. people willing to pay for it: your customers
   3.A way to get paid: how you’ll exchange produce or service for money

Question 10

Key Points for Chapter 1

Answer 10

•Microbusinesses aren’t new; they’ve been around since the begin-
ning of commerce. What’s changed, however, is the ability to test,
launch, and scale your project quickly and on the cheap.
• 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.
• If you’re good at one thing, you’re probably good at other things too.
Many projects begin through a process of “skill transformation.” in
which you apply your knowledge to a related topic.
• Most important: merge your passion and skill with something that is
useful to other people.