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5 Important Keys to Bootstrap Your Entrepreneurship

5 Important Keys to Bootstrap Your Entrepreneurship

Getting a website on the net as a novice isn’t exactly cake. It requires registering a domain name (example.com), hiring a web designer, and paying a monthly fee to host the site. A content management system is also preferable over paying a web designer hourly to make updates when he can fit it into his schedule. Therefore, a website can run several thousand dollars not including the monthly hosting fee or the occasional updates. These are the reasons that paved the way for me to separate myself from the rat race and become an entrepreneur. I decided to create a web-based application called Posima.com that does all of the above for a low monthly fee. I hired 4 contractors from 4 different countries to complete all the necessary work for the project. I’ve learned many things over the course of the past 14 months, but have 5 suggestions I would like to pass on to any entrepreneurs who are ready for battle.


1. Don’t Panic
Panicking is overrated and doesn’t help anybody do anything. If you are buried alive in a coffin, you will use air less quickly and have a better chance of surviving by keeping a calm head vs. panicking. I’ve had contractors try to quit on me or turn MIA for weeks at a time. At first I flipped out, and flipped out often. But I realized that it wasn’t the end of the world and I’d figure out how to get the work done one way or another. Panicking wasted valuable time I could have been utilizing elsewhere. If a problem arises that needs a fast solution, panicking will do nothing but burn up your remaining air.

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2. Reframe problems
I got this from a book about Alexander the Great. Reframing means find the correct problem first then follow with the proper solution. For example, during the sales process my host told me I could do “x” with my shared hosting account. Later I clarified with support how to accomplish “x.” Once “x” started being done, my host shut down my account saying I was taking up too much of the shared servers resources. I started talking with a lawyer, compiled all the conversations where the company said “x” was OK, etc etc. Upon further review I decided going this route was a bad idea, it would cost money and headache with no obvious solution. I originally thought the problem was the host lying to me. The real problem was that “x” needed to be in working order for me to continue. I solved the problem by leasing a server from the same host on which I can do whatever I please. The host gave me some extra goodies for the trouble.

3. Budget
Budget is a fake word made up to explain a fake process. A budget is how much you have or are planning on spending. You will go over budget; it’s inevitable. If you have $10,000 to spend, why make your budget $10,000 when we know you’ll go over? I think it’s smart to make your budget 50% of what you have to spend. Plan your project around $5,000. When those inevitable issues arise (having my own server costs $250 a month more than what I had before), you’ll still be in the black vs. trying to figure out where you’re going to find that extra cash. If by some miracle you stay within budget, you’ll have extra cash to allocate elsewhere or put into savings.

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4. Outsource
Outsourcing usually has a negative connotation. We outsource every day a hundred different ways. When I need food, I don’t go outside, shoot a cow and pick tomatoes from my garden. I go to a grocery store. When I want to talk to a friend, I don’t send up smoke signals or talk into a can attached to a long string. I pick up the phone and dial. Just because you have a tech guy on staff, doesn’t mean he knows the finite details about making a standards based web site. Just because you have an office manager that keeps the books, doesn’t mean come January she’s a CPA. I’m a one-man show. I came up with the idea for my service but didn’t have any of the necessary skills to fulfill my dream. I could have raised venture capital or brought in “co-founders” to help me, but then I’d get less pie at the end (and I like my pie). Instead I contracted out all work I couldn’t do myself. It took a little longer, but cost less in the long run. Don’t be afraid to hire a professional to do certain tasks.

5. Forget the Others
This one I hold dear to my heart. After graduating college from the University of Texas I worked at a large corporation as a cubicle monkey for a year. I couldn’t handle the bureaucracy and quit knowing I wanted to start my own business. I worked the pick axe and shovel for months digging holes for septic systems while toying with different ideas for a business. When I finally got my idea, I dug holes during the day and molded my software with my contractors at night via email. During this process I received an uncanny amount of pushback from my friends and family telling me to get a real job. No one quite understood what I was trying to accomplish with my software and wrote it off as a dumb idea. I blew everyone off and stayed the course. I now have those same skeptics eating their words, calling my software a multi-million dollar idea. My point is don’t worry about what the skeptics say, it’s not their life to lead.

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All in all, be agile in whatever you do. Just as nothing goes exactly right in life, it doesn’t in the business realm either. At 24 years old, it took me 13 months to create my web application. Often times it was rough and I was poor, but I now have a very cool product to offer small businesses that I believe they will be very pleased with. The experience was incredibly rewarding emotionally and have my fingers crossed that it will be just as rewarding financially. I highly recommend starting your own business if not for the experience alone. If you happen to need a website for that business, why not check out my web application?

Chad Sakonchick is a 24-year old entrepreneur from Austin, Texas. His business, Posima, is a web application that makes it easy for small businesses and non-profits to get up and running on the web. It provides the domain name, the hosting, the design and a content management system all rolled into one.

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Last Updated on September 28, 2020

How To Study Effectively: 7 Simple Tips

How To Study Effectively: 7 Simple Tips

The brain is a tangled web of information. We don’t remember single facts, but instead we interlink everything by association. Anytime we experience a new event, our brains tie the sights, smells, sounds and our own impressions together into a new relationship.

Our brain remembers things by repetition, association, visual imagery, and all five senses. By knowing a bit about how the brain works, we can become better learners, absorbing new information faster than ever.

Here are some study tips to help get you started:

1. Use Flashcards

Our brains create engrained memories through repetition. The more times we hear, see, or repeat something to ourselves, the more likely we are to remember it.

Flashcards can help you learn new subjects quickly and efficiently. Flashcards allow you to study anywhere at any time. Their portable nature lends them to quick study sessions on the bus, in traffic, at lunch, or in the doctor’s office. You can always whip out your flashcards for a quick 2 to 3 minute study session.

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To create effective flashcards, you need to put one point on each flashcard. Don’t load up the entire card with information. That’s just overload. Instead, you should dedicate one concept to each card.

One of the best ways to make flashcards is to put 1 question on the front and one answer on the back. This way, you can repeatedly quiz yourself into you have mastered any topic of your choice.

Commit to reading through your flash cards at least 3 times a day and you will be amazed at how quickly you pick up new information.

As Tony Robbins says,

“Repetition is the mother of skill”.

2. Create the Right Environment

Often times, where you study can be just as important as how you study. For an optimum learning environment, you’ll want to find a nice spot that is fairly peaceful. Some people can’t stand a deafening silence, but you certainly don’t want to study near constant distractions.

Find a spot that you can call your own, with plenty of room to spread out your stuff. Go there each time you study and you will find yourself adapting to a productive study schedule. When you study in the same place each time, you become more productive in that spot because you associate it with studying.

3. Use Acronyms to Remember Information

In your quest for knowledge, you may have once heard of an odd term called “mnemonics”. However, even if you haven’t heard of this word, you have certainly heard of its many applications. One of the most popular mnemonic examples is “Every Good Boy Does Fine”. This is an acronym used to help musicians and students to remember the notes on a treble clef stave.

An acronym is simply an abbreviation formed using the intial letters of a word. These types of memory aids can help you to learn large quantities of information in a short period of time.

4. Listen to Music

Research has long shown that certain types of music help you to recall information. Information learned while listening to a particular song can often be remembered simply by “playing” the songs mentally in your head.

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5. Rewrite Your Notes

This can be done by hand or on the computer. However, you should keep in mind that writing by hand can often stimulate more neural activity than when writing on the computer.

Everyone should study their notes at home but often times, simply re-reading them is too passive. Re-reading your notes can cause you to become disengaged and distracted.

To get the most out of your study time, make sure that it is active. Rewriting your notes turns a passive study time into an active and engaging learning tool. You can begin using this technique by buying two notebooks for each of your classes. Dedicate one of the notebooks for making notes during each class. Dedicate the other notebook to rewriting your notes outside of class.

6. Engage Your Emotions

Emotions play a very important part in your memory. Think about it. The last time you went to a party, which people did you remember? The lady who made you laugh, the man who hurt your feelings, and the kid who went screaming through the halls are the ones you will remember. They are the ones who had an emotional impact.

Fortunately, you can use the power of emotion in your own study sessions. Enhance your memory by using your five senses. Don’t just memorize facts. Don’t just see and hear the words in your mind. Create a vivid visual picture of what you are trying to learn.

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For example, if you are trying to learn the many parts of a human cell, begin physically rotating the cell in your minds eye. Imagine what each part might feel like. Begin to take the cell apart piece by piece and then reconstruct it. Paint the human cell with vivid colors. Enlarge the cell in your mind’s eye so that it is now six feet tall and putting on your own personal comedy show. This visual and emotional mind play will help deeply encode information into your memory.

7. Make Associations

One of the best ways to learn new things is to relate what you want to learn with something you already know. This is known as association, and it is the mental glue that drives your brain.

Have you ever listened to a song and been flooded by memories that were connected to it? Have you ever seen an old friend that triggered memories from childhood? This is the power of association.

To maximize our mental powers, we must constantly be looking for ways to relate new information with old ideas and concepts that we are already familiar with.

You can do this with the use of mindmapping. A mind map is used to diagram words, pictures, thoughts, and ideas into a an interconnected web of information. This simple practice will help you to connect everything you learn into a global network of knowledge that can be pulled from at any moment.

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Learn more about mindmapping here: How to Mind Map to Visualize Your Thoughts (With Mind Map Examples)

Featured photo credit: Alissa De Leva via unsplash.com

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