"Here are some ideas in bootstrapping which have been helpful to me, and which I hope will help anyone growing their own organization. 1) Bootstrapping Don't ever stop bootstrapping.My point is, always have your 'skin in the game.' Keep your expenses down. Care about your costs. Don't rest on your laurels ... and keep caring about how that dollar is spent on Day One as Day 2,555 (seven years, which is the average start-up mode)."
"That doesn't mean you can't think big. Garner more resources. Attain significant investments from major investors. But always care. Don't lose your "bootstrap caring." Everyone has put forth some serious investment to make their money. Respect their money as you do your own. 2) Family and Friends Close Keep those close supporters for family and friends - close. It's not just financial support."
Entrepreneurs should always keep their 'skin in the game' by maintaining low expenses and caring about every dollar spent from Day One onward. Bootstrapping discipline should persist even after securing major investments. Thinking big is compatible with frugality and respect for investors' money. Founders should value and steward the resources others provide as if they were their own. Close supporters from family and friends provide financial, emotional, historical, and wisdom support and should be kept near with ongoing appreciation. Keeping early supporters informed and inspired can yield continuing counsel and potential financial help during later stages of growth.
Read at Fast Company
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