Forums: Discussions for entrepreneurs and small business.

I wonder if maybe "boot-strapping" isn`t all that great a term, regardless of it being popular. One thing I`ve seen repeatedly, both in my general interest toward logistics, and in my in-between work on small database development is process failures.

Does bootstrapping constrain only to business plans? And doesn`t a business plan tend to focus more on the financials, and not the process?

I guess what I`m saying is that far more important than what money we can get at the start, I think the specific way processes are put into place have long-range consequences. Yes it`s hard to come up with startup capital, figure out the product line, and initiate things.

But after that initialization phase, you`re left with your processes. It`s my understanding that although a "business process analyst" is a self-evident job title, very few companies (large or small) think they need someone with those talents. They`ll more often hire a project leader or project manager, but that`s not really at all a process analyst.

Too often I`ve seen someone set up various processes, then the business begins to grow (rapidly, many times), and they`re suddenly in deep doo-doo because they have a way of doing things that`s badly out of alignment with their current necessities.

I`d say that if bootstrapping means only outlining a general business plan, then it`s probably not such a great idea. But if, along with that general financial outline, there`s a complete knowledge of exactly how to go about producing, selling, and accounting for the product, the business plan would be secondary.

we are bootstrapping and it is a tough road, but consumers are liking our product.

The whole point of bootstrapping is that until you`ve made a few sales you don`t know if you even need a process.

Flexibility is one of the keys to bootstrapping. You have to be able, ready and willing to change any aspect of your plan based on feedback from your customers. That includes product features, product price... even what product you make.


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So true we have made some mistakes, but we have been able to quickly add content or change content. The ability to be flexible and  letting the consumer know that  when they talk we listen. It has been very rewarding for our business and the consumer.  Interesting though is that either they like it or they  don`t.
There are some bad days one just has to suck it up and continue on with the plan.
Anyway after a few more sites are complete we will be going for soem sponsorships. Is there a forum for sponsorships? We are somewhat new to this site, but I like the enthusiasm and boy doI need it sometimes.

Z

As I read the various posts on this topic, I find that I`d like to know - what does "bootstrapping" mean to you? 

To some it seems to mean - spend no money on the business, just invest your time.

To others, it sounds more like - wait until you have customers then develop your product.

So I`d love to hear from some of those who are "bootstrapping" - what does it mean to you? What strategy have you developed for bootstrapping your business?

Robert Johnson

 

 

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Bootstrap + Biz plan - Yes Yes and Absolutely! (napkins work well, if you`re going paper towel, I recommend Bounty or Brawny...)

But seriously, a flexible plan is a must regardless of bootstrap or big bucks mentality. In the heart of every entrepenuer is a vision, a concept of what it is, and more importantly what it will be. Yes, money does help to jumpstart, but a t the end of the day, without the vision, without the plan to make that money grow exponentially, whether its two cents or two million, its as valuable as the paper the check was written on. 

Regardless of the capital you have started with, in your mind, in my mind, this is a million...dare I say...billion dollar company we are talking about. The trick is treating it that way from day one.

Although it can be, and at least for me, far to easy to get caught up in the the BiG mentality, the BIGspeak (and as Craig will vouch for me, sometimes translates into overcomplicating your vision when relating to your customer) , if you treat your two cents like two million bucks, your desk and phone like a corporate headquarters, and your work ethic as a system template, those little building blocks will come to serve as the foundation for your empire.

It does work, I have been at the top of such an empire, only to forget the lessons of bootstrapping, the key of flexibility, without which, any plan will crack under pressure.

So there`s my two cents....

 "I`m free! I`m free at last! The body is dead! The body is dead, long live the head, it`s finished, finito, heh-heh! Bye, body! Ha-ha! I shall prove a head does not need a body to survive! I am omnipotent, ha-ha! Yes... OH! Oh no, I got an itch! Oh, no! Oh no, oh no... AH-CHOOOOO! "

-said by King of the Moon in the Adventures of Baron Munchausen

What is bootstrapping?

We should stick to the Sloan`s definition.
It`s strictly a system of funding, and doesn`t imply anything else.
If you have 200K of your own money, and you`re the only investor, you`re Bootstrapping

To our organization bootstrapping means get out there and find out what the customer wants and deliver that need  while being flexible with both the money and the intent.
 I agreee  with beautiful petunia.  one has to run it from the beginning the way in which we invision it in the end......run it like a billion dollar business

we have started with our own monies and our own time that is also bootstrapping.
We need to know how the ins and outs run in the start-up phase so we can direct these functions to hired staff later on in the development phase.

It is a vision and the intent on following through.
Z

I agree. Some seem to have bootstrap confused with shoestring.

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