bootstrap my business

after writing about SMART goals I realized that the business savings portion of bootstrapping my business was not SMART. (SMART goals – Specific, Measurable, Achievable, Realistic, Timely)

I created the goal of saving 5% of every deposit to make this very specific, and since it’s an on-going process, its defintely timely.

Eventually the business savings will be used to grow the business, but instead of a credit source, that growth will come from a regular plan of saving.

With each bank deposit a little bit of money is put into business savings not for the rainy day thing, but the ‘major overhauls’ that come along the way.

The classic story of businesses is that the early days are run on credit and after a year or so it’s time to pay the band and whoopsie I am avoiding that, completely.

We’ve heard the stories of people from the other side of the tracks pulling themselves up by the bootstraps to make something of themselves, but rarely do we hear that time in conjunction with business despite the fact that it is done all the time.

In it’s purest form, bootstrapping is building your own business on your own, without investors, self financing the entire project yourself. The risks are great, the rewards are greater. And you don’t have to do it with your boots on, I’m doing it in flip flops!

Best because you run so lean. Worse because there’s sometimes you wish you could just do things the easy way with loads of money.

Oh well, if it were easy, everyone would be doing it.

Just about ready to go.

A small amount of data entry left, and I’m launching.

AreYouHiring?

Bootstrapping to commence shortly.

I’ve got my prototype developed. My formation documents have just been accepted.

During this next week I will be solidifying the business plan. I need to cut the crap and stay real. Real goals. Real numbers. Bottom up approach, versus top down.

I wish you all luck.

I don’t want to do this—but ultimately I have no choice. This is going to be hard, I’ll either succeed or fail spectacularly.

bootstrapping is the only sustainable way for 99% of business’

I’ve been in too many businesses that have forgotten about their business and gone down the drain because they have been worried about investors.

This year I will bootstrap a bunch of smaller complementary businesses that will hopefully start providing me with an income of other investors and employers.