How to Boostsrap Your Startup

Bootstrapping

1. You might be risk averse, and you should be.

There are good reasons for Bootstrapping.

Bootstrapping

1. You might be risk averse, and you should be. 2. Necessity.

There are good reasons for Bootstrapping.

Bootstrapping

1. You might be risk averse, and you should be. 2. Necessity.

For whatever reason, there is the invest-cash way and there are bootstrapping hacks. Take as many of these to heart, and to your bank balance as you like.

There are good reasons for Bootstrapping.

You can invest lots of money but even one of these tips will preserve your cash

Bootstrapping

After all, you have *nothing* to lose.

Summon your creativity. It will save you money.

Don’t spend money and you can’t lose money

Stick to your budget

Bootstrapping

Preserve enough cash to survive. Borrowed cash is expensive.

Look for free, or almost-free stuff

Look for free options.

Example: Don’t print 1000 books, print as you sell on Createspace

Don’t give up your day job.

Don’t give up your day job

Every day, those lost wages are a ‘cost’ to your business.

Your wages mean you can eat.

Your wages mean you can eat.

Sure, nothing motivates like a lack of options.

Sure, nothing motivates like a lack of options, but it’s great to have a buffer.

Point 4 is a big one.

Bootstrappers need an idea that requires almost no investment.

Put your Big Money Idea on hold. Fund it with your Bootstrap Profits.

Put your Big Money Idea on hold. Fund it with your Bootstrap Profits.Real world example:

Design a digital product to sell online.

5. Hire slowly. People will be expensive.

Put your Big Money Idea on hold. Fund it with your Bootstrap Profits.The cost of staff is on-going.

Look to outsource to freelancers when you finally need to replace a job you are doing.

Record what you do, so you can duplicate yourself later.

Reinvest your profits.

Put your Big Money Idea on hold. Fund it with your Bootstrap Profits.Reinvest profits.

Create a list of priorities for reinvesting profits.

Reinvest your profits

The yacht can come later.

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