VentureBeat - Latest Comments in 10 lessons in bootstrapping a business

Re: 10 lessons in bootstrapping a business

Jonathan Thompson — Sun, 06 Nov 2011 12:33:21 -0000

Just shared with a business I'm consulting for. They're debating on slow growth vs investors. Thank you!

Re: 10 lessons in bootstrapping a business

Josh Bulloc — Tue, 21 Sep 2010 20:34:31 -0000

One of my main purposes for going into business is to have a greater level of freedom and if I choose to go after investors I will be giving up freedom in how I want to run my business. I guess you have to decide why you are in business, then you can decide if you want to bootstrap and if it will help you reach your purpose.

Josh Bulloc
Kansas City, MO
How can I help?

Re: 10 lessons in bootstrapping a business

Happy and Healthy Mom.Com — Sat, 18 Sep 2010 06:21:11 -0000

Thank you Clate. I am a bootstrapper myself, so I really appreciated the validation of my chosen path. Additionally, you really helped me put things in perspective with #1. I was struggling with the best way to define my business customers and I realize that the customers are the ones directly being reached through my efforts and that the sponsors of my sites and events are more like the investors wanting a return on their investment.

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Re: 10 lessons in bootstrapping a business

Guest — Thu, 25 Feb 2010 02:08:00 -0000

Great article.It gives me inspiration as well the hope that startups can be done with minimal capital. While we are a services company many of the points hit home here too.

Re: 10 lessons in bootstrapping a business

Chris Lee — Wed, 11 Nov 2009 19:23:09 -0000

Nice article, Clate!

While we are a services company many of the points hit home here too. Things to feel good about as we keep on keeping on.

Re: 10 lessons in bootstrapping a business

Lisa Mason Minter — Sat, 07 Nov 2009 20:42:16 -0000

This is an awesome article and helps to make me feel more confident about my own decision to start my own design firm (www.virtuellehomestaging.com). We started out as an in-home staging business but the housing market sank and so did the work. I recently decided to go all virtuall all the time and now can better manage the business and know exactly what overhead I have. There is no real inventory, less paperwork and more time to really focus on delivering the best design consultations that I can and really offering this great home marketing tool. There have been times that I floated the business, but going this route has taught me to really appreciate my company because it really has been blood, sweat and tears. I love this article so much, I think I'm going to print it and hang it in my office. LOL!

Re: 10 lessons in bootstrapping a business

Vidar — Sat, 07 Nov 2009 13:15:13 -0000

I think among the things investors look for, a clearly differentiated brand is pretty high on their list because they know customers are willing to pay a high premium for a differentiated product.

I think the story of Clate and Infusionsoft is a clear testimony to the power of overpromising ("Double Your Sales") and overdelivering as a means of attracting both customers and investors!

~Vidar

Re: 10 lessons in bootstrapping a business

Adam Wexler — Fri, 06 Nov 2009 12:03:24 -0000

great stuff, Vidar. i think what you said epitomizes what 25yo Daniel Ek is doing with Spotify. he's big & brash with all of his statements (even going as far as claiming merch sales will be one of their revenue streams!)....and he's got plenty of doubters, but i LOVE his tenacity!

how do you think overpromise/overdeliver works with investors?

Re: 10 lessons in bootstrapping a business

Adam Wexler — Fri, 06 Nov 2009 12:00:24 -0000

i completely agree, and i'd love to hear some ideas. to your point though, the ones that take off usually weren't passionate enough or big enough believers in the first place (i'm talking college-kids or recent graduates = very few bills to pay).

in my opinion, the best way to keep them on board & focused is to create a collaborative atmosphere that is lax (to a degree) but exciting. always keep the big picture in mind, but stay focused on one step at a time

Re: 10 lessons in bootstrapping a business

Vidar — Fri, 06 Nov 2009 11:46:39 -0000

It's an old cliche i business that smart companies underpromise and overdeliver. In the crowded marketplace of the Internet era, underpromising is actually the fastest route to oblivion. The radical new approach is to overpromise and overdeliver: Overpromise to stand out and differensiate yourself in the marketplace and lure customers in, and then overdeliver to keep them! If you can do that, you'll also create raving fans that will spread the word about you for free. Perfect for bootstrapping!

Re: 10 lessons in bootstrapping a business

Herrick Lim — Wed, 04 Nov 2009 22:40:24 -0000

Great article Clate, It gives me inspiration as well the hope that startups can be done with minimal capital. I've always perceived doing business as very capital intensive but you have convinced me otherwise. Go to where the money is and get your hands dirty were the main points i've learnt from your article. Cheers.

Re: 10 lessons in bootstrapping a business

Founder — Mon, 02 Nov 2009 07:52:38 -0000

Spot on. In business for almost 2.5 years and have bootstrapped our company. As a result we have awesome technology and great passionate users. Oh and all of our employees still with us have been here for almost all those years. The only people who left were asked to leave.

Re: 10 lessons in bootstrapping a business

Josephine — Mon, 02 Nov 2009 00:54:14 -0000

great points! I like #2, the "strategy trap"...coming fr the corporate world, realise there were lots of things to UNLEARN, that is one of them.

Re: 10 lessons in bootstrapping a business

Andee Sellman, One Sherpa — Sun, 01 Nov 2009 01:38:45 -0000

Great tips Clate.
I came out of coproate into my own business and had all the wrong ideas about working in a small business. If I'd acted as though I was a small nobody right from the start I would have saved a whole bunch of money and built a business which had much more focus. My experience from being in a coporate strategy role was that I never really got to the customer level becasue there were so many levels of management between me and the customer
http://www.onesherpa.com