Four keys to bootstrapping success

Filed in archive Bootstrapper Resources on August 30, 2007

An article on bootstrapping in a March 2006 issue of U.S. News & World Report suggests these four keys to bootstrapping success after conversations with such veterans as RightNow Technologies founder Greg Gianforte and Austin-based entrepreneur Bijoy Goswami.

Here's an overview:

1. Ideas are overrated. Instead of that one big idea jot down numerous little ones. There are many workable ideas and the execution will sometimes determine which are successful.

2. Forget marketing at first. Gianforte's marketing involved cold calling and bouncing ideas off possible customers before he even had a product. And in a YouTube clip on bootstrapping below, Goswami argues for a demo stage before other aspects of building the business can begin.



3. Use the Internet. Demo your product on the web, sell initial offerings on ebay and through other channels to gauge price and customer reaction and take advantage of inexpensive online store solutions. Yahoo is cheap, Microsoft Office Live is cheaper.

4. Isolation is a dream killer. Bootstrapping entrepreneurs can create networks for support and problem solving. Goswami has a network of his own that you can join right here.