Building patterns for success

Filed in archive Bootstrapper Resources on August 28, 2007

Bootstrappers focus on the here and now even if they plan for the future. In doing so, they concentrate on cash flow and the day-to-day of keeping their business alive and running.

Bootstrapping therefore is about building patterns, patterns of success. Here, from the seaside reflections series are a few:

1. Do a little something every day. A post on your blog. A phone call or e-mail for information. Research on a new opportunity. Despite what you may have been told by business advisors, endless research and planning will not bring success. Hard and steady work toward your goal will. Even mistakes bring you closer to that goal.

2. Don't let failure crush your momentum. No matter how dispiriting the defeat, always keep moving. You may feel as if you've done everything wrong at times, but the only real mistake is to stop putting in the effort.

3. Identify core goals. These are the things you really want out of your business. Guy Kawasaki suggests coming up with a mantra, a short phrase to easily explain your aims. You will be forced to make many rapid changes once your business is up and running. Your core goals will keep you from getting lost along the way.

4. Return to your roots. Once you've got those core goals return to them often. This does not mean repeating the same old tired formula but instead always finding new and innovative ways of getting closer to the essence of your business. Your core goals will ground you and yet give you a constant well of inspiration from which to draw.

5. Quantify success. Decide what success means for your business. To some entrepreneurs, it is revenue in the millions and a business they can sell to Microsoft or some other corporate giant. To others it is having enough to put food on the table for their families. There is no right answer here, but how you answer will make all the difference in the kind of business you build and whether it is a success.