In entrepreneurship, it is not the end of the world if you cannot get venture capital. Without any funds from venture capital, you still could launch your product or services by bootstrapping your business. Guy Kawasaki has posted an article called The Art of Bootstrapping which talks this exact topic – how to pull off a sucessful bootstrapping business:
- Focus on cash flow, not profitability
- Forecast from the bottom up
- Ship, then test
- Forget the ”proven“ team
- Start as a service business
- Focus on function, not form
- Pick your battles
- Understaff
- Go direct
- Position against the leader
- Take the “red pill
The Art of Bootstrapping – [Guy Kawasaki]
