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3 Bootstrapping Tips

These bootstrapping tips are from Danielle Tate, CEO of MissNowMrs.com and the author of the Elegant Entrepreneur:

  1. Focus on why you are bootstrapping. You will remain in control of your vision and all the decisions concerning how you grow and where you go. The important thing is to identify the steps necessary to go from idea to income, and then take those steps methodically.
  2. Be creative about your beginnings. You do not necessarily need office space or a fancy desk. Think about where Mattel, Apple, and HP began. . .all in a garage.
  3. Barter. As an entrepreneur, don’t be afraid to trade or barter for the things you need to succeed. Swap marketing advice for coding or a vacation home stay for graphic design work. You have to be scrappy and humble to self-fund a venture

Related post: Female Entrepreneur Makes Changing Your Married Name a Cinch [DMV CEO]

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Tips for Bootstrapping Your Business

Many businesses are started with just $100 or whatever is in that entrepreneur’s pocket. That is the definition of bootstrapping. Many entrepreneurs say they don’t have enough money to turn their idea into a business but often the ability to bootstrap a business and build it what makes the difference between success and failure. Check out these tips for entrepreneurs on how to bootstrap your business.

  1. Do your research.
  2. Be a jack-of-all-trades.
  3. Only hire people that are complimentary to your own skill-set.
  4. Make it personal.
  5. Be persistent.
  6. Don’t be above free or cheap.
  7. Start by scouring the “Freebies” section of Craigslist for items you might need for your office. They might be used but, like the saying goes, “one man’s trash is another man’s treasure”.

Read more here: 5 Tips for Bootstrapping Your New Business

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Don’t Be Self Conscious About Being an Entrepreneur

Harrison: What advice would you share with up-and-coming entrepreneurs?

Westergren: The best piece of advice I ever got was from my wife, which was “Don’t be self-conscious about being an entrepreneur.” I think most successful companies go through some kind of trial by fire. During that time, you’re borrowing — you’re borrowing people’s time, you’re borrowing goodwill, you’re borrowing money. You’re begging and borrowing. And that can begin to make you feel self-conscious, feel like you’re failing or that you’re a leech.

It takes a lot to stay committed, and I think a big part of that is accepting that, “Okay, I signed up for this. I’m building a company, and part of building a company is that I have to borrow.” I think that’s one of the big hurdles for entrepreneurs, to stick with it when you feel like you made a big mistake.

Read the entire post here: http://www.washingtonpost.com/business/on-small-business/when-we-were-small-pandora/2015/02/06/11ad75f4-ad5c-11e4-9c91-e9d2f9fde644_story.html?tid=sm_tw

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A Great Name

Dog sat in his kitchen at the table with a sheet of paper and several random words written on the page. He knew that if he didn’t find the perfect word it would hurt him in the long run. The entire evening he had his laptop in hand looking over the dictionary. Finally he started to mash words together in order to find the best of two worlds. Eventually he hit upon a word that was perfect in his mind, though would also be a jumping off point for customers to ask where he got the name. To Dog, naming his business was one of the most important parts of getting it off the ground.

Lesson: This lesson is inspired by the Rescue a CEO Post “What Are The Most Important Things You Needed When Starting A Business?

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Read/Understand Own Emotions

Panther was new to the realm of leading a business. He’d been in leadership positions before, but he was never the true leader of any group. Now that he had the title he knew that he needed to brush up on how he behaved. Instead of sticking his head in the sand and letting other people take care of issues he learned that he needed to keep his hand in the pot. Most importantly he learned that he needed to understand and heed his own emotions. When he was tired he forced himself to sleep. When he was angry with something he would take a walk and cool down. Learning about himself in turn helped him be a better leader.

Lesson: This lesson is inspired by the Rescue a CEO Post “5 Things Great Leaders Do and Failing Leaders Don’t

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Think Like You Have No Money to Spend

When Lion was about to start his business he came across an article which changed the way he thought about the beginning. It urged all new entrepreneurs to think like they had no money to spend. Lion thought it was a great idea. Instead of hiring outside help to do simple, basic tasks he decided to take some time out and study around for tips and video examples. By doing this he not only saved a ton of money in the beginning but also bettered himself in the process.

Lesson: This lesson is inspired by the Rescue a CEO Post “What Are Your Best Tips for Bootstrapping?

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Invest in a Professional Logo

With just a few bucks in his pocket and the desire to help, Rhino was ready to start his business. He’d been building and planning on paper for years now but the thing about planning on paper was that it cost nothing. In the library he roamed over countless advice books and went online searching for answers. Finally he hit upon one main theme. If he wanted a successful business he had to make it look good from the outside in. So the money he had saved in his pocket went straight to the one thing he would be known for – his logo. He had a designer create a beautiful, unique logo which in turn ended up attracting customers.

Lesson: This lesson is inspired by the Rescue a CEO Post “Starting a Business for Under $100