Bootstrapping Voodoo

Filed in archive Bootstrapping Thoughts on November 29, 2007

sacred archetypal mystical art is inspiring a growing otaku among sophisticated collectors, or so says Denise Alvarado, Voodoo Mama of The Mystic Voodoo and an artist and spiritualist.

Created with some Spanish moss, a couple of sticks, some imagination and, of course, the knowledge and creativity of the artist (two important components in any venture) her creations may also be the perfect bootstrapped startup.

Magician and motivational speaker Andy Cohen has these observations about applying your personal magic to business.

Here are some ways in which business bootstrapping like voodoo defies conventional approaches to success:

1. Sales first, product development later. Bootstrapping guru Greg Gianforte launched his multi-million dollar company by calling customers first with an idea and only got around to developing a product once he had found a market.
2. Money up front may be a bad thing. Too many funds may encourage costly mistakes, says Gianforte and startup evangelist Guy Kawasaki concurs. Bootstrapping requires efficient use of resources.
3. Don't be the best, be remarkable. Seth Godin suggests this goes beyond marketing to the quality of the product or service you intend to offer. Bootstrappers have no money for advertising so a product must draw its own attention and create enough of an impression for others to spread the word.
4. Forget about the masses and find an otaku. A key to promoting your product or service with no money or resources is to get others to do it for you. The masses already have their preferences. Those ignored by mainstream marketers can be the key to your success.
5. Revenue not investment should fund startup, growth. This seems contrary to the conventional belief that it takes money to make money. In fact, no business exists until a sale is made so avoid spending until revenue proves you've got a workable model

Other thoughts? Please comment or link to this post with comments from your blog and I'll return the favor.