Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012
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Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

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Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012 Presentation Transcript

  • 1. Never Stop StartingWednesday, 29 February 12
  • 2. A Bootstrapping success Once upon a time... Bootstrapping in business means starting a business without external help or capital.Wednesday, 29 February 12
  • 3. Consider your personal circumstances Stick to your guns despite what your critics say If it was easy then everyone would be doing it!Wednesday, 29 February 12
  • 4. Bootstrap if you possibly can but avoid: Cutting the wrong corners Using equity (your shares) as a liberal currency Limping along without fundingWednesday, 29 February 12
  • 5. Bootstrapping Tips It’s not only about keeping your costs down : Establish a Revenue Stream ASAP! The Internet has made Bootstrapping easier - use it Be creative with alliances & partnerships Let Smarta.com be your BibleWednesday, 29 February 12
  • 6. 12 Lessons I’ve LearnedWednesday, 29 February 12
  • 7. Pick your business partners wisely Work backwards from divorce and keep score from the outset.Wednesday, 29 February 12
  • 8. Things that look too good to be true, always are. Watch your back, there is an opportunist waiting at every corner.Wednesday, 29 February 12
  • 9. Don’t overplan Agility is your best asset and remember, everything you plan takes more time and more money.Wednesday, 29 February 12
  • 10. Be aware of your over-dependencies Don’t let them catch you by surprise.Wednesday, 29 February 12
  • 11. Harness your customers’ power They are your best advocates.Wednesday, 29 February 12
  • 12. Don’t get phased by your competitors Treat your customers better than your competitors treat theirs.Wednesday, 29 February 12
  • 13. Survive until the market is ready If you are ahead of the market, make sure you have staying power.Wednesday, 29 February 12
  • 14. Educating your customers is expensive Best leave this to others, even if it turns out to be your competitors.Wednesday, 29 February 12
  • 15. Price correctly from the start Don’t kid yourself about what your product/service actually costs.Wednesday, 29 February 12
  • 16. Invest in an audience It is often more valuable than your current product/service.Wednesday, 29 February 12
  • 17. Focus, Focus, Focus Do fewer things extraordinarily well.Wednesday, 29 February 12
  • 18. Wyszkowski’s Second Law Anything can be made to work if you fiddle with it long enough.Wednesday, 29 February 12
  • 19. Oh, and one last thing....Wednesday, 29 February 12
  • 20. Never Stop StartingWednesday, 29 February 12
  • 21. Adrian Melrose The First 65 Ltd @adrianmelroseWednesday, 29 February 12