Here are the slides and audio from a “How To Bootstrap Your Startup” presentation at an Emerging Business Group Best Practices Seminar at Abbott, Stringham, and Lynch.
Or download directly from “How To Bootstrap” [ASLCPA Mar-27-2013] (MP3)”
It was a great audience and a lively discussion about bootstrapping. I am grateful to Mark Sheffield, CPA, of ASL for the invitation to speak and to Pete Tormey, co-moderator of the San Francisco Bootstrapper Breakfast, and Michal Domanski, moderator of the Warsaw Bootstrapper Breakfast, for reviewing and suggesting improvements to the talk.
- The key to bootstrapping: sweat equity, relationships, know how
- Bootstrappers focus on what they don’t know to find their problems
- Leverage expertise to focus on a niche, rather than the big market
- Evaluate an opportunity: what is the problem & what do you bring that can create value solving it
- Bootstrapping finance tip: live as cheaply as possible, delay gratification
- From day 1 as a bootstrapper you’re in sales
- Don’t keep giving a pitch that hasn’t worked. Learn why & change it
- Revenue is the only real proof of market
- Ask your target market who they’re using now cause you’ll have to differentiate from them
- Bootstrappers don’t go all in – they make small investments in solving focused needs they can win & build on them
Update Fri-Apr-5: Thanks to some sound editing work by Steve Wasiura I have an updated MP3 that cleans a low hum from the file. Steve has a blog post about the talk with his notes at “How to Bootstrap Your Startup” on his blog. He writes:
Now I understand your quote from the March 2013 roundup:
“Nothing clears up a case so much as stating it to another person.”
Arthur Conan Doyle
by turning my notes into a blog post, I understood the lessons better.