bootstrapped
TRANSCRIPT
BOOTSTRAPPER’S FIELD GUIDE
Technically, bootstrap marketing is starting a business, any business, with little or no upfront capital. However, it is much more than a technical description. Bootstrapping is more of a business philosophy than anything else. It is an outlook or a way of looking at the world. It is a headspace that is all about thinking outside the box and seeing that opportunity doesn’t always knock in the ways you expect it to.
In short, a bootstrap marketer doesn’t rely on other people’s money to get what they want. Instead they rely on their own ingenuity, creativity, focus and fortitude to achieve success on their own terms.
Bootstrap marketers share some common traits, including:
• They see undercapitalization as an advantage over their competition;
• They are survivors who thrive by living to fight another day;
• They value knowledge can be more powerful than money and are always learning;
• They are frugal and understand that unneeded spending is often the death of young businesses;
• They know that their customers are the lifeblood of their businesses and treat them accordingly.
There are several good reason why any business owner
should consider bootstrap marketing, including:
• Bootstrap marketing lowers your exposure to risk by using very little upfront money;
• Bootstrap marketing allows you avoid competing with well-established big businesses and still become profitable;
• Bootstrap marketing is allows you start a business anytime, anywhere and with any idea;
• Bootstrap marketing allows you to find your audience in any niche, no matter how small or obscure.
Successful bootstrap marketing requires careful
planning and intelligent decision making.
A bootstrap marketer needs to be prepared to
make personal financial sacrifices in order to
improve the chances that their business will
succeed;
Multiple income streams from multiple products
or services improve cash flow during the first
critical months of a bootstrapped business
existence;
A successful bootstrapped business is based on a viable
business model which includes;
• A plan for making money quickly, within days of startup;
• Taking advantage of any edge that can be obtained over the competition through:
✦ Intellectual property or patentability;
✦ Branding;
✦ Trade secrets, unique content or exclusivity;
✦ Providing a new product or service or improving existing ones;
A bootstrap marketer needs to address tough economic
issues before starting a business, including;
• Understanding who their customers are;
• Understanding what their customers will pay for the products or services that will be sold;
• Understanding how they will distribute those products or services to their customers.
Understanding the common pitfalls inherent in bootstrap marketing can help you to avoid them.
• Avoiding imitating the practices of large, established business that you can’t possibly compete with;
• Seizing the moment and not surrendering to fear will help you get over the “hump” and get your bootstrapped business started;
• Correct business processes are the best way to insure a steady stream of customers and income and will help you to avoid costly mistakes.
Join for free Wealthy Affiliate community. We will help you to begin your online business, with bootstrap marketing techniques . When you join, feel free to send me a private message to my profile. I would be glad to help you.
Anastasia Vasilopoulou
http://theaffiliatemom.com
https://my.wealthyaffiliate.com/nastazia