One Thousand Ways to Make $1000 is a 1936 non-fiction book of personal finance by Frances Minaker. It gives specific examples of individuals who made enough money to start their own businesses by starting with as little as $5, and it encourages the reader to do the same.
One Thousand Ways to Make $1000 Summary
If you want to be an entrepreneur, start your business right now. There’s no better time to do it. Do not listen to what people say around you. Do not say, “I will start when I get this or that.” Surely, you will have obstacles to face but you should have a lot of guts. One Thousand Ways to Make $1000!
Otto Schnering was only 21 years old. He is determined to start his own business. He thought that there’s money in selling candies so he bought his own candy making machine.
The candies he created did not sell though. Otto made the common mistake that entrepreneurs make. That is creating the product that they like and not the product that the market likes. Fortunately, Otto realized this soon enough.
There are only 3 types of best-selling candies. They are chocolate, caramel and candies with peanut. When Otto produced them, he started making money.
It took him 3 years to find the perfect combination of chocolate, caramel and peanut in a bar. Soon, children and adults alike flocked his store. Otto Schnering is the owner and maker of the all-time favourite chocolate bar, Baby Ruth.
What is it that you like to do? It is possible that you can make a business out of it. Maybe, you picked up a career out of necessity. But if you have that hobby that you really love, you may someday find an opportunity to make money from it. One Thousand Ways to Make $1000!
You might have a certain skill which you can sell. If you want to succeed in making things, you need to have lots of practice. You would only perfect your craft if you spend so much time doing it.
Mrs. Smith is a widow from Brooklyn. She loves to bake. Mrs Smith can bake yummy doughnuts, nut bread, pies, rolls, cookies and coffee cakes. One morning, she thought of starting her own food specialty business.
Her products became in demand for parties, holidays and special dinners in town. Store owners and party organizers call Mrs. Smith because they know that she’s simply the best.
You might be interested in raising plants or animals. There are a lot of opportunities in planting fruits or vegetables and taking care of farm animals, poultry or fishes. You do not need to own a huge farm. You can even start business in .a cellar.
George Jessup made lots of money by raising bees. He started with just one colony. He put the bees in the cellar and gave them a good hive. The bees just kept eating and making honey.
Bees do not require much attention. In one year, a hive can produce 100 pounds of honey. Soon, George owned 10 bee colonies. He sold to wholesaler and retailers alike. One Thousand Ways to Make $1000!
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About the Author
After pulling a copy of One Thousand Ways off a library shelf at age eleven and devouring F.C. Minaker’s plucky and practical business advice, Buffett declared that he would be a millionaire by the time he was 35.