5 Tips for the Bootstrapped Startup

by / ⠀Entrepreneurship Startup Advice / February 28, 2014

Sometimes, the startup environment feels like a lot of people mimicking Cuba Gooding Jr. in Jerry Maguire. That is, itching for someone to show them the money. With the rise of accelerators and incubators, the prestige of seed funding has many entrepreneurs focused on wooing investors, rather than developing their business plan and strategy. Making the mistake of allocating a great deal of time and energy towards chasing…

Bootstrapping Design & Development: A Young Entrepreneurs Guide

by / ⠀Entrepreneurship Startup Advice / January 23, 2014

Have you ever had an idea that you just knew would work, but didn’t have the resources or the technical know-how to bring it to fruition? It’s a frustrating experience most young entrepreneurs face at least one point in their career. I hit that proverbial wall on my first business endeavor, which forced me to bootstrap design and development, but learning to work within my means actually expanded…

Comic: Penny Pinched Beyond Bootstrapping

by / ⠀Entrepreneurship / June 15, 2013

Time to pull up your socks and start bootstrapping.  Got a great idea but it’s still in your head? Not sure if any customers would give your idea a second look?  Still trying to figure out the startup game? Bootstrapping is great way to give you and your idea some validation and a jumpstart.  It allows you to take the time and effort to assess and tweak your…

7 Lessons From Bootstrapping a $15M Lifestyle Business

by / ⠀Startup Advice / February 4, 2013

Since we started Mindvalley, we’ve blossomed to over 100 employees and revenues past $15 million a year (50 million in Malaysian Ringgit). We’ve become one of the biggest sellers of educational content online (mostly in meditation and personal growth, but we’re expanding fast into other fields). We just hit 1.3 million subscribers and our 200,000th paying student. Best of all, we’ve done it all without ever having to take any…

Bootstrapped Budget? 5 things to know if you outsource

by / ⠀Startup Advice / November 22, 2012

When we had the idea of creating PrepLounge, my business partner and I knew that we could not afford it alone. Had we had a national (German) software company develop our website, we would definitely have needed additional seed-funding. We knew, however, that bringing investors onboard at a later stage would cost us a lot less equity. If we could somehow pay for it, we would be able…

Bootstrapping: Accumulating Wealth Instead of Winning it Like a Lottery

by / ⠀Funding Startup Advice / May 30, 2011

We’ve all heard “cash is king” for businesses, but is this really true? If you are an entrepreneur, you understand how delicate startups are. They are growing entities that should be handled with extreme caution and care. The obvious goal of this growth is to work towards profitability, but caution, growth is something you shouldn’t rush. Startups can learn so much more about their core business by pulling…

Bootstrapping isn’t for Wussies: How to Obtain Profitability & Scalability

by / ⠀Funding Startup Advice / January 13, 2011

When an entrepreneur starts their business, chances are, especially if they are bootstrapping, there is a continual focus on getting started and grinding through the first year or two. This is when most small businesses fold – more than 50% in year one and 95% within five years. The first goal with any business, as it should be, is to bootstrap the company into profitability. Most of the…

Choosing Your Bootstrap Staff

by / ⠀Startup Advice / November 6, 2009

When I founded CyberSynchs in June 2008, I was challenging myself to move in a new direction.  I was a recording artist with a valuable tech idea and I needed to assemble a team of professionals to craft that idea into a reality. One of my first tasks was to sit down with a few trusted mentors and discuss staffing. While I knew the difference between a software…

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