Raising money from external sources isn’t bad at all. You get to minimize the risk and focus on building the business rather than worrying about pinching the pennies. On the other hand, bootstrapping your business with personal savings and revenue is finding a lot of takers of late. It’s a hard path to tread, but the rewards are worth the hardship.
Two factors that work in favor of bootstrapping are the ability to retain control over your business and a free reign over the execution of ideas. After the break, we have compiled a list of articles from the blogosphere to help spread the wisdom of bootstrapping. Read on.
Bootstrapping a startup is not easy, requiring discipline and fortitude, as well as ingenuity. But entrepreneurs who have done it have discovered some best practices to increase the odds of success. In this article Rachel Blankstein of Comparz, shares her experience.
The good news, is that many new start-ups are launched with very little money at all. Michael Dell started his company, Dell Computer, out of his college dorm room for less than $1,000. In fact, many of the world’s greatest companies were not only started with very little money, they were also started in the midst of very poor economic environments. Learn how to combat an economic downturn.
When starting your own company, you must tightly manage your time and money. Some juggle a full-time job with entrepreneurial exploits, while others set personal deadlines to accomplish certain goals within an established time frame before moving on. This article discusses a few “must-knows” to help entrepreneurs bootstrap successfully.
Even the most self-sufficient start-ups need a hand. Here are some pointers to make the most of free and cheap resources around you.
Bootstrappers are basically watching over cash flows and making every penny count. If you want to be like them, you can refer to some tips listed in this post that will greatly assist you.
In a less-than-perfect economy, it’s hard to get the startup financing that you may need. Here are five easy steps that any entrepreneur can use in order to successfully bootstrap a new biz.
Hear it from those who practice what they preach. Follow this link to learn about Grooveshark’s tips for saving money on the cheap!
In true ReadWriteWeb style, the article teaches you in detail about bootstrapping – how to write your requirements, how to source developers and designers, how much to budget, how to agree a development contract, how to manage your vendors, how to plan your release, all the documentation you’ll need, and much more.
Got any personal experiences or tips about bootstrapping to share with our readers? Drop a word in the comments section!