A few months ago I read an outstanding article written by Ms. Kim Gaskins from K Gaskins Consulting Blog. The article titled “Bootstrapping – The Best Way to Finance Your Business?” and the article provides ten rules for a successful Bootstrapping strategy.
Before we dive right in, what IS bootstrapping?
“bootstrapping usually refers to the starting of a self-sustaining process that is supposed to proceed without external input” -Wikepedia
Now that we know what it is, check out this excerpt:
Finances are one of the biggest excuse people give for not starting a business. This need to raise money often becomes the excuse for not moving forward. But should it be a show stopper? Not at all, with a little rethinking and a little (or a lot) of bootstrapping you can create a business which is attractive to investors.
Before I give you 10 rules to remember when bootstrapping in your business let’s define it in terms of business ownership. Bootstrapping is when an entrepreneur uses personal finances and business revenue to operate the new venture. Bootstrapping is about being conscious and aware of where your money goes. It is about being frugal.
To read the rest of the article, along with the ten keys, click on the link below:
Bootstrapping – The Best Way to Finance Your Business?
Kim provides great content for startups and entrepreneurs looking to get their businesses off the ground. Translating Visions into Reality. I invite you to check out her blog and check out her services!