Bootstrapping…
Many successful corporation such as HP, Microsoft, Dell, Apple, eBay, and Google have done it. To put it in a simple term it is basically to start a company with very little capital. In some point of an entrepreneur life, one must need to do a bootstrapping in some sort. Whether it is in the beginning of the start-up company or at later time or even forever if you are not able to raised enough capital for the type of business that you are doing.
The ability to bootstrap is a critical success factor for every entrepreneur. It is not about just coming up with great idea and finding venture capital, but every entrepreneur must be able to operate the company successfully with limited capital.
There are 4 basic models of bootstrapping:
1. The garage model, with very little capital the best place to start is somewhere you do not need to spend much money to operate such as in the garage of your buddy or your own. If you have day job do not quit just yet, it is probably good idea to stick with the job and use the money from your job to finance your start up during night time or in the weekends. [more...]
Leave a Reply