"While this is an honorable way to start a company, bootstrapping is more difficult than it might seem. First-time entrepreneurs often have trouble getting funding without first showing some traction and a plan for potential success."
As determined by Rodrigo Santibanez, the co-founder and Operations leader at EAT Club (the leading business-focused online lunch delivery service), here are the top 10 tips for bootstrapping your startup:
1. PICK A COFOUNDER WISELY
2. DESIGN A BUSINESS MODEL THAT GENERATES CASH QUICKLY
3. WATCH CASH LIKE A HAWK
4. CUT PERSONAL EXPENSES
5. DON’T OUTSOURCE JOBS YOU CAN DO YOURSELF
6. NOTHING IS IMPOSSIBLE TO LEARN
7. BE THRIFTY
8. INVEST IN YOUR WEBSITE DOMAIN AND INCORPORATING
9. BE DISCERNING WHEN CHASING REVENUE
10. DON’T TAKE "NO" FOR AN ANSWER
Article on http://ow.ly/Ebsci:
10 Tips For Bootstrapping Your Startup
Saving money, DIY-ing new skills, and never taking no for an answer? Must be time to bootstrap.