Boot … what?” some people will rightly say now. When I had the idea for this post while driving in the car, it took me three minutes to remember this term. So, thank you for asking me this question. bootstrappingPhoto rights by Fotolia Contents [ hide ] 1 With bootstrapping you do not risk large amounts of capital 2 This is how bootstrapping works in my projects 2.1 I avoid expenses creatively 2.2 I do not invest in product or production
2.3 No contract until I have enough income
2.4 I take advantage of synergies with other projects With bootstrapping you do not risk large amounts of capital Bootstrapping basically france whatsapp number data consists of self-financing a project with the income it generates. Nowadays, some people think of it as a kind of perpetual mobile startup that generates money out of nothing. It’s not that either. I’ll give you two examples. Launches and pre-sales : this is what we did at the beginning of Quondos. A month before we started, we opened the sale with a special price.
This way we didn’t have to invest anything
in the platform out of our own pocket because everything was paid for from the cash flow generated by the first customers. Crowdfunding campaigns bulk lead the same thing happens here. The idea is to raise the funds needed to launch a project. This way you also get good feedback from the market. If you manage to get the necessary funding, you may have saved yourself a good investment if you had just launched. This should give you an idea of how things work. Many start-ups use this form of financing as an alternative to external investors .
The big advantage is that you don’t risk large
of your own capital because everything comes from cash flow. It’s certainly not a stable model. One bad month can put you in international cell phone number search very dangerous situation. You also have to be aware of the risks involved if you work without a large cushion. This is how bootstrapping works in my projects How do I apply it specifically? Well, let’s see… I avoid expenses creatively Bootstrapping lives off the cash flow that the company is able to generate. To do this , the most important rule is to keep expenses under control. I always avoid spending more than necessary . Sometimes it’s basic things and other times you have to be a little creative.
I’m stingy with the little things because
I’ve learned that in the end everything adds up . I do not invest in product or production I look for collaborations that allow me to make the sales factor variable. I don’t want to take the risk of acquiring stock and then realizing that it doesn’t work. In those businesses that haven’t gone so well, I’ve done just the opposite. The best ones work through dropshipping or commission models. I don’t sign a contract until I have enough income Project launches are quite stressful because they require a lot of involvement from me at the operational level. When I see that some money is coming in, I usually immediately put a person in charge of my tasks and free up my time to focus on growth rather than maintaining revenue.
I take advantage of synergies with
other projects For starters, there is a team that I can rely on. Fortunately, existing businesses have already created a certain inertia in the past that I can rely on. Therefore, I can always “steal” time from one project to invest in another. We are also looking to replicate the success and strategies that have worked in the past. The fact that we can do so many things at once is down to what has emerged around Quondos. We will soon be launching a new company that will take over the e-commerce business line that has been born thanks to the practical courses we have given (these always require creating projects from scratch). As you may have seen, most of the things I do are common sense . In the end, it’s about finding a way to get that giant stone rolling and then keep it moving. Thanks to the existing momentum of other projects, I can draw energy to plug into those that require an initial push. Launching many businesses at once is always a risk, but if you keep