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Bootstrapping Your Start Up Business.

Bootstrapping Your Start Up Business.

I have started up over twenty-five businesses in my career, of which I was a principal. I have also assisted in the start-up of hundreds more. Here's my cardinal rule of the start up:

START SMALL!

Have you heard of the term "bootstrapping"?

It's a good time to look this up in Webster; or, go online to Wikipedia and type in the word "bootstrapping." Both the dictionary and Wikipedia will define it something like this:


Dictionary: "to achieve success by one's own unaided efforts."

Wikipedia: "a self-sustaining process that proceeds without external help."

In the world of business start up, it simply means "start within your means, or self contained."


When you start up your computer, it uses the internal drive that's part of the system. Likewise, when you bootstrap your business you will start your business with the funds and resources you have at hand. You may wish to borrow a few dollars from your home line of credit or a low interest credit card.

I don't recommend borrowing from a family member. You don't need a "partner" who is concerned about your every strategy and tactic right now.


You may have heard the term "garage operation." Lot's of businesses started at home, or in the garage. That's where the term came from. Virtually every good business has started there. You don't need a fancy office.


By investing in only those things you absolutely need until your business is viable, you'll later have a much better story to tell to your potential investors AND a much greater probability of getting funded.

 






Bootstrapping Your Start Up Business - To learn more about this author, visit Jerre Blodgett's Website.

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Jerre Blodgett
(Visit Jerre's Website) Jerre Blodgett Jerre coaches companies in areas of start-up, planning, capital formation, marketing, mergers & acquisitions, franchising and human resources. He was a top marketing and advertising man for Honeywell and 3M companies before launching a printing company at age twenty-six. Using his unique marketing strategies, that company experienced astonishing growth. Focusing on mentoring small businesses, he applies business-building programs that work especially well in tough economic times. He coaches owners on how to make positive changes in, or re-invent, their companies when growth stalls or markets decline. Jerre has been an owner, principal, partner or shareholder in over 25 businesses. Visit his website - www.BlodgettVentures.com. Jerre is author of the informative E-Book, Your Own Consulting Business - Here's How to Do It NOW! Learn more about the book by visiting www.yourownconsultingbusiness.com.

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