How to bootstrap a bakery business (Part 3)
CONTINUED FROM PREVIOUS POST
From the tape, Rapoport took the concept that there was a difference between self-employment and creation of a business that does not depend on the owner for day-to-day operation, an idea further developed in Kiyosaki's "cashflow quadrants" model.
Rapoport began to long for a business that could eventually be developed to the point where it did not require his constant involvement and one with assets that could eventually be sold at a profit.
At the same time, Powell had become unhappy with her job as pastry chef at the Saucon Valley Counrty Club.
"They were working her to death," Rapoport said.
There is some disagreement between the partners about who came up with the idea for the bake shop first.
"He really had to convince me," said Powell.
Rapoport says it was Powell who had to talk him into the idea of a food service business.
CONTINUED NEXT POST
May 4th, 2007 at 5:08 am
A good idea! Bootstrapping means you do all you can with your own resources and efforts before going to search for outside capital from investors. It’s no wonder that having the dedication and ability to pick yourself up by the bootstraps to further your business goals gives you an added measure of credibility with investors.