Business Book Review: The Money Tree by Chris Guillebeau

We’ve been taught money doesn’t grow on trees, but what if it could? The Money Tree helps you discover what money seeds you could be planting.

My Rating: ★★★★
Length:  336 pages
Publisher: Portfolio
Released: 2020

Key Takeaways for Personal Branding 

New York Times Best Selling Author of The $100 Start Up once again ignites the entrepreneurial spirit with The Money Tree. 

Like some of his most captivating counterparts, Guillebeau uses storytelling to add creative flair to highlight otherwise often overlooked financial and business principles.  Written like a fable, Guillebeau makes The Money Tree an easy read. With his mission to help you discover the money hidden in your own backyard. 

The goal is to think outside of your 9-5. Using your skills to make money in ways that can substitute or perhaps eventually take over your primary employment income: 

“No one should depend on a single paycheck for their entire income. And now, there’s no good reason you have to. Whether you call it a side hustle, a small business or just “something you do for extra money”, you can use this model to create more freedom for yourself.”

The Third Way

The characters join, what could be likened to a mastermind group, ‘The Third Way’.

The Third Way is designed to be the third alternative for creating extra income - now available to nearly anyone.  

Years ago, a typical mum and dad small business would have had to risk their life savings or drown in debt to chase their entrepreneurial dreams. 

About 20 years ago, the proliferation of tech start-ups made raising investor capital all the craze. Entrepreneurs usually pinned all their profit plans on hopes they were one of the rare success stories. 

Then along came the third way. The digital age and rising creativity on how to leverage it have made entrepreneurial ambitions more accessible than ever. The question is, are you only thinking inside your 9-5, or taking advantage of the most opportunities that have ever been available to make money in new ways? 

The book shares stories of being at risk of being fired, losing jobs in mergers and redundancies in management.  Guillebeau uses poignant storytelling finesse to express the realities of these things when houses built on sand come crashing down when you least expect them. The Third Way is your financial safety net. Perhaps, more importantly, it builds new confidence in your skills - from which everything else is derived. 

You can do more than you think.

The mantra of the group is reiterated as the most important point of the book: 

“You can do more than you think.”

It needs little explaining, but perhaps more repeating for most of us. Guillebeau valiantly reminds you to think beyond your 9-5 or your limiting beliefs. Venture beyond the fringes of your comfort zone. Delve into the depths of your skills (or their potential) and your interests. Let it lead you to your third way:

“Everyone’s an expert at something. One way or another, you have acquired a lot of valuable knowledge throughout your life. Something you already know about can be turned into cash - you just need to figure out how to do it. Don’t invest tens of thousands of dollars in business school. Start by taking an inventory of your skills, including everything that you’re good at and any topics that people frequently ask you about.”

Spend as little as possible.

The book shares the story of a challenge to make $1,000 by the next week. Keeping in mind that most have little extra income to spare, the goal is to get creative to make a profit. To show yourself, you can find a way to make money. At first, this might be simple, like the book describes, reselling textbooks. Later, with trial and error and self-exploration, you realise how best to use your time, skill set, strengths and interests. All while spending as little as possible and lowering your risk: 

“Starting frugally is a benefit, not a limitation. The time to “invest in your business” is when you know you have a proven idea.”

The book says the vast majority of the “Third Way” projects are started for less than $500. With the low cost of a website, affordable technology, and free social media, which most have access to, it’s a fair premise - one more people could explore to help plant the seeds for their money trees. 

The Money Tree by Chris Guillebeau:  Available on Amazon.