© Mel B.

Next in our series of top bootstrapping principles, we look at how partnerships triumph over pay-out or how sometimes teaming with others can help cut the costs of startup.

If you need a refresher on what we are talking about when we discuss business bootstrapping, have a look at this.

LeadVine co-founder Allan Margate avoided the costs of programming in his own on line startup by finding a partner with programming experience, in this case a former competitor/

Partnerships among bootstrappers:
• Build knowledge and skill without added cost. In the case of LeadVine, outsourcing of key development would have added significantly to cost. The community's development costs were kept low by internalizing them within the founding team.
• Allow team work on one or more projects. Partnerships need not be restricted to several entrepreneurs working on a single product or service. In fact, several bootstrappers with separate products and services can share these efforts.
• Create building blocks for a successful founding team. For more on this see Bijoy Goswami's video below on the dynamics of the bootstrapping team.


• Add shared resources without increased investment. Do you have programming skills and can a fellow bootstrapper supply you with bandwidth...or content. You may have the basis for a profitable relationship.
• Create networking opportunities for future marketing. Of course, a fellow entrepreneur may also become a customer. A fellow bootstrapper with a need for a service you can provide may have a stake in helping your business get off the ground so that they can buy what you produce.

To start forging partnerships with other bootstrappers consider joining our Yahoo! and MySpace bootstrapping groups today.

And visit my own bootstrapped venture at PostRanger.com.