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Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012


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Suffolk Digital Startup Session Monday 27th Feb 2012 @eehub

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Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

  1. 1. Never Stop StartingWednesday, 29 February 12
  2. 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. 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. 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. 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 be your BibleWednesday, 29 February 12
  6. 6. 12 Lessons I’ve LearnedWednesday, 29 February 12
  7. 7. Pick your business partners wisely Work backwards from divorce and keep score from the outset.Wednesday, 29 February 12
  8. 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. 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. 10. Be aware of your over-dependencies Don’t let them catch you by surprise.Wednesday, 29 February 12
  11. 11. Harness your customers’ power They are your best advocates.Wednesday, 29 February 12
  12. 12. Don’t get phased by your competitors Treat your customers better than your competitors treat theirs.Wednesday, 29 February 12
  13. 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. 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. 15. Price correctly from the start Don’t kid yourself about what your product/service actually costs.Wednesday, 29 February 12
  16. 16. Invest in an audience It is often more valuable than your current product/service.Wednesday, 29 February 12
  17. 17. Focus, Focus, Focus Do fewer things extraordinarily well.Wednesday, 29 February 12
  18. 18. Wyszkowski’s Second Law Anything can be made to work if you fiddle with it long enough.Wednesday, 29 February 12
  19. 19. Oh, and one last thing....Wednesday, 29 February 12
  20. 20. Never Stop StartingWednesday, 29 February 12
  21. 21. Adrian Melrose The First 65 Ltd @adrianmelroseWednesday, 29 February 12