Happy New Year!

Since starting this blog in June 2006, I've talked a lot about the tools and resources needed to bootstrap a business without significant investment.

But what would it take for you to start your bootstrap business now in 2008 if you haven't started yet or have been planning to go into a business for a long time?

Here are some ways to evaluate how you might start a new business in the New Year instead of waiting until 2008 too has come to an end:

• Evaluate your talents. Are you a natural salesman or saleswoman? A service provider with skills to offer? A programmer with a new software application? The creator of some new intellectual property or idea? Decide on your strengths and build your business accordingly
• Evaluate possible startup costs. Remember to include only the things you would need to start your business today. Do NOT include things that EVERYBODY says you need to start a business-an attorney, accountant, incorporation. Do you really need these things before you have even started to deal with customers?
• Break your startup into pieces. Like any big job, be careful not to try to do everything at once. It's unrealistic and will only lead to frustration. Instead, if you've got a big idea, try to figure out if there is a way you can start with baby steps. If you want to start a consulting firm, could you start a blog first offering insight into your field of expertise then develop clients from there?
• Figure out how much time and money you have. Consider what resources you possess that could be put into your business. Mainly this will be time and money if your company is bootstrapped, but it could also include other skills or assets like an existing workspace or computers and other equipment you already own but were using for another purpose
• Figure out how much time and money you are willing to part with. If spending all your time working will kill your relationship with a spouse or significant others or if the only financial resource you have is savings for your kid's college education these may not be things you can sacrifice. Instead, consider what you realistically can divert to your business and build your model around that.

A bootstrapped business can be started anytime, anywhere, because the technique is about using what's available.

Take stock of your assets, financial and otherwise, and get started today!