Bootstrapping?

**Young Spark** · 05-11-2007 04:16 PM

Explain the whole "industrial cards?" Do you mean things like business cards or am I off somewhere else?

**SpencerB** · 05-11-2007 07:38 PM

Originally Posted by Young Spark

Explain the whole "industrial cards?" Do you mean things like business cards or am I off somewhere else?

He is referring to 0% interest credit cards.

Bootstrapping is fine and dandy in the planning stages, but come game time, you better have some captial.

Profitable boostrapped business = Low Barrier to Entry = Lots of Competition

* As a note, boostrapping generally means being very frugal with your capital, not necessarily meaning you have no/low amounts of capital*

**Young Spark** · 05-12-2007 12:34 AM

Oh ok, thanks Spencer.

Also, when you said be prepared for when its game time to have capital, if you start the business out slowly, don't you think they'd have enough capital along the way to keep away from needing to gain capital from a third-party? Just out of curosity I mean.

**SpencerB** · 05-12-2007 06:21 PM

Originally Posted by Young Spark

Oh ok, thanks Spencer.

Also, when you said be prepared for when its game time to have capital, if you start the business out slowly, don't you think they'd have enough capital along the way to keep away from needing to gain capital from a third-party? Just out of curosity I mean.

Completely depends on the business but almost all need some sort of startup capital to cover themselves in the early stages. Most startups are not cash flow positive right off the bat.

Most people here think on a small scale, which generally requires small startup capital. You move out of this realm and into the big boy space, and you'll see most startups require 6/7 figure capital to just get things rolling.

Generally speaking it takes big bucks to make big bucks....

**Young Spark** · 05-12-2007 07:41 PM

^^ That's why I am getting into the cash flow business... honestly, its the only business that you don't need startup capital and can make huge commissions off of it. I am looking to within' the next month or two close my first deal.

The most highest commission I ever heard someone making is almost $85k and that is just off of 3 weeks of work. So yeah, that is why I am starting up Proficient Resources. Either way, I am going to use some of my commission money and invest it into shares of a startup company and I'm still learning more about the "investor ethics."

But honestly, if I wanted to, I could use ym money from commissions and startup another business if I wanted to and I wouldn't even need capital. This is actually what I plan to do and to think, my business won't have any debt which'll be the best part.

**rejoice** · 05-12-2007 09:27 PM

Bootstrapping is fun but people often
get emotional because it's their money
they are spending. I am in the process
of bootstrapping a company and the
fun part is having total disregard for
the money and spending it on the
relevant material/resources/professionals.

**The Stealthy One** · 05-13-2007 08:23 AM

^^ Wow, that's going to lead to failure.

**Mikey1205** · 05-13-2007 10:00 AM

Originally Posted by rejoice

Bootstrapping is fun but people often
get emotional because it's their money
they are spending. I am in the process
of bootstrapping a company and the
fun part is having total disregard for
the money and spending it on the
relevant material/resources/professionals.

LOL. "Having a total disregard for the money" isn't exactly the ideal business model!

**Commercial-Realtor** · 05-13-2007 01:32 PM

Search for "guerilla marketing" on Google for more low cost techniques.

**Young Spark** · 05-13-2007 05:42 PM

^^ Haven't seen you around here before.... welcome to the boards.

**rejoice** · 05-13-2007 09:48 PM

Originally Posted by The Stealthy One

^^ Wow, that's going to lead to failure.

Wow thanks for the constructive criticism...

Failure is a state of mind my good friend!

**The Stealthy One** · 05-14-2007 09:22 AM

I'm guessing this is your first time around. I had the same attitude as you when I started out - it didn't work. Change your strategy.

**jasaunders** · 05-14-2007 10:17 AM

I will let everyone in on a little secret... The best form of marketing and advertising, no matter what business or industry you are in, is word of mouth. Consequently, it is also the cheapest (monetarily at least, maybe not in hard work).
Nothing is better for your business than satisfied customers spreading the word to others. Think about myspace... did they spend $100 billion on advertising? Google? Facebook? People found out through word of mouth. Very little money is required, just lots of effort.

**Young Spark** · 05-14-2007 11:16 AM

^^ I agree, but you have to remember that persistence and consistency is key... don't let them forget, if 1 person forgets who you are, then everyone will forget.