My name is Jeff(best name)and I am 58 years old.My first business was started in 1972 and I never boot strapped it or any other business I have been involved in.That company grew to in 1983 almost $100 million and there is an expression in business ""to make money ,you have to spend money""I have since my first business been involved with faciltating myself 3 public deals and my associate from NYC has completed over 200.One of my favorite companies that I have is www.smarttinc.com ,a total startup in 1995 that my partner and I started. Before we had any business we spent money by advertising our product(model train layouts)in the right places,hired a marketing company(I own a marketing company),hired a business consulting company(I also had a consulting company from 1994-2000)and in 6 months we were starting to do great.
In my opion if you look to do everything for nothing,your business will never be anything.My first company started with my partner and myself and 8 years later we had over 200 employees.
Take your business plan,hire the right company and start showing that your model works.Remember everyday in the USA there are thousands of new start up businesses and less than 1/10th of 1% succeed because the founder thinks everyone is going to steel it and rip them off.The funny thing here is no one steels a startup as no one including the founder knows if the model can work.
Good Luck:If you want to talk further speak to me at firstname.lastname@example.org
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?
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