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One of the most important lines in this book for me is “The standard blueprint for solopreneur success is to be a good product manager and an excellent marketer” This is the profile of a parallel entrepreneur. And the book is both strategic and tactical in laying out the mindset and best practices of pulling off this wacky combination that describes more people than you would initially think.
The book flies in the face of conventional wisdom from what you'll hear from most business books that talk about focus, picking synergistic work, etc). And rightly so - it's not for everyone. This path is a long, slow grind for marathoners not sprinters. Not quitting your day job to pursue your startup is not talked about in Silicon Valley, and certainly not condoned or celebrated.
I'm someone who's lived this double-life for the past few years. For the longest time, I thought I was a lone wolf in a sea of "real" entrepreneurs and CEO's who put their entire lives into their startup. This book gave me permission to NOT focus on one thing. Like a good hobby, a side project lets you put your mind completely on something else for a while.
But it's not just a hobby or side project, and the author chose a specific title over other terms that try to describe this lifestyle like moonlighting, bootstrapping, self-funding, passion projects, etc.
Through this book, I've picked up key insights from the wisdom of the author's experiences as well as those from rockstars like Jonathan Siegel. And I've reoriented my goals towards ideas and advice like the Rule of 34, the fact that every $10K/month business has the potential to grow to $100K/month, do not take on partners, structure your business as an LLC, etc.
Kudos to Ryan Buckley for writing this fantastic book that I'm sure I'll read more than once during my parallel entrepreneurial journey.
Full disclosure: I know Ryan. I'm in the book. This is a biased review.
BUT!
Even with a little bit of "star inflation", I still highly recommend this book.
If you...
- Own an online business - Are thinking of starting a online business - Are thinking about thinking about an online business - Are depressed by your day job and have no vision for a better future...
Then you'll find value in this book. Value well worth the $15 for the paperback and few hours of reading time. (It's a quick, easy read with zero fluff, unlike most business books.)
As for criticisms, not everything in this book will be for everybody. There may be parts that don't apply to you depending on your situation. But, everything is neatly organized so you can skip or skim to the next section and not miss anything. I don't think Ryan would mind! ;)
I've started more online businesses than I can count and have been in the game for nearly a decade, and I still learned a lot from Parallel Entrepreneur: growth plateaus for SAAS businesses, best practices for bookkeeping, pricing ideas, preventing churn, etc., etc. I've already put these into practice.
Plus, this book motivated me to start working on the business I've been thinking about starting "5-10 years from now". What better time than now?
Look, this isn't Moby Dick or The Illiad. But if you do business online then I guarantee you will learn something in this book that will be HUGE to you when you put it into practice.
Give it a read, and follow Ryan's author profile on Amazon. If his book writing is anything like his business practices, he's already got 5+ more books in the work. I'm already looking forward to the next one!
Everyone I know in tech looks up to Ryan for what he's managed to accomplish by building many different businesses at once and doing it successfully. I'm just glad to know that Ryan is letting us in on his secrets finally.
I command you to buy this book. Ryan holds nothing back. I have ZERO interest in SaaS business -- but this book will help with any entrepreneurial endeavor. The balance of being focused, yet working in parallel is golden. Lots of tips on managing a day job, coding, and selling. I especially liked the stuff about protecting yourself from a greedy former employer --- or greedy former employee -- when it is time to sell your dream business.
Also...
There is some unique, fascinating stuff on how small (100K - 1,000K) a year SaaS companies are valued.
A great book for anyone looking to start a profitable business without taking on any outside funding. I love how the author was able to interview other entrepreneurs who have done this well, and profile many different business types. Great book all around!
Recently, I have been thinking about the "side hustle" entrepreneur persona more and more. In my book and courses, we focus on the "all in entrepreneur" and have developed a methodology for that profile. While a lot of it fits for this SH (SH = Side Hustle) persona, not all of it does. In fact, some could be applied in a way that runs counter to the best approach of this aspiring SH entrepreneur. Nice to see Ryan has developed a thoughtful roadmap and provided practical guidance for this type of increasingly frequent form of entrepreneurship. An excellent addition to our entrepreneurship library at MIT, where yes, we are very proud to call Ryan one of our alumni.
Great 'how to' for bootstrapping multiple income streams. The author connects the dots with practical step-by-step guidance and clear case-studies. By partnering proven business theory with boots-on-the ground tactics this book reads like a blueprint for building revenue streams. As a bonus, the author's clear, engaging story-telling left me excited and motivated for a future of parallel entrepreneurship.
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This item: The Parallel Entrepreneur: How to start and run B2B businesses while keeping your day job
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