How to Bootstrap your Business

My Questions To You…

1.Do you need to start or  grow your business but have little money?
2.Do you want to start business but don't know whether this is the right time ?
3.Do you want to start your venture but feeling less secured ?
4.Is it OK to approach a VC ? Why would he/she will be interested ?
Boot Strapping
The act of starting a business with little or no external funding

Don't

Don’t write lengthy business plans, chase deep-pocketed investors, or indulge in overly academic market research exercises

DO

Focus on chemistry of considerable energy, brainpower, determination and skills on creating a business that can actually succeed in the real world.

USP

1.you can’t start your business until everyone else tells you it’s OK. If you feel like start on your own , let's start .- Be a Leader
2.Have empathy with customers to convert their need to want.-You are the sales and marketing person of your firm.
3.Don't chase the money , let the clients be happy , you will get what you are asking .- You are the PR of your small Firm.
4.Make a team having empathy and integrity with you as you are   the Marketing Boss.
5.Bootstrappers don’t waste money, they make it . You are fund manager of your firm.

6.Bootstrappers are forced into unconventional thinking and try to make it happen  - the creative head , the thinking man.
7. Bootstrappers dream high with firm steps but less galloping. You have an idea of Risk Management .
8. Believe on creating value than endeavor with solo motive to make money . - you are the CEO

Some ways of financing your own business…

1. Starting business from own residence facilitates avoidance of financing and many other problems.
2.Consignment method of delivering out source product , save costs.
3. Try to have advance from customers by establishing your credibility and capability.
4. Licensing – Don’t save money by not licensing
5. Credit from market helps a lot.
6. Proper fixing up of production cycle period vis – a vis availability period of Credit.
7. Delivering of the product before delivery date earns.



Approach a Venture Capitalist…

• Don’t chase VC in the early stage and at inappropriate time.
• Approach a VC by establishing your capability and credibility.
• You must have a out of the box idea.
• Approach them when you want to scale up , it’s always better to make him partner .
• Do you want to sell some part of your firm ? then approach Them.
• It’s good to have a VC on a project , not on your company , if the company is you baby.

Arijit Bhattacharyya –
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arijit@virtualinfocom.co.in
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