Simon Boot discusses bootstrapping for startups by focusing on reducing costs and increasing cash flow during the startup phase. He emphasizes avoiding fixed costs like rent by working remotely when possible. Equipment and supplies should be borrowed, rented, or bought used/cheap if necessary. Outsource work and use freelancers to avoid employee costs. Defer expenses that are not immediately needed. Barter goods and services with other businesses. Always negotiate prices and payment terms. The goal is to extend the startup's limited funds by minimizing the "burn rate" until the business reaches profitability and positive cash flow. These bootstrapping techniques should be considered when preparing a business plan and budget.