BootstrappingSome SuggestionsAuthor : Eva hukshorn, partner EFactor

1. Cost per sale 2. Profit per sale3. Pipeline 4. Repeat orders5. Conversion rates 6. Gross profit 7. Fixed costs per month8. VAT return 9. Budgets & Forecasts10. Results compared to last year

Suggestion 1: Know Your Numbers!

1. Variable costs are key 2. Diminish overhead costs 3. Avoid capital expenses 4. No long term contracts 5. Watch your payroll6. Outsource all except your Unique

Selling Point 7. Barter

Suggestion 2: No Cash Outflows Unless Necessary!

1. Universities & Grants funding 2. Competitions 3. Vendor Funding 4. Invoice discounting & Factoring 5. Asset funding 6. Overdrafts 7. Barter8. Credit cards 9. Revenue, savings 10. Friends, Family & Fools (FFF)

Suggestion 3: Funding Sources

1. Pre-Sale crowdfunding2. Reward based crowdfunding3. Peer - 2 - Peer lending

Suggestion 4: Crowdfunding

1. Think before you spend 2. Visuals of prototype 3. No Kinder- Überraschung effect ‐4. Talk to tech advisors 5. Research yourself 6. Get 1 hour free meeting with IP lawyer 7. Fixed Fee 8. Patent pending

Suggestion 5: The Trick With Patents & IP

1. Get a well known coach 2. Experienced board of advisory 3. Equity stake up to 5% incl. vesting time 4. Brand association 5. Discount for high profile customers 6. Testimonials 7. Use resources in your network:

--Share housing, technology, contacts, databases, distribution & communication channels

Suggestion 6: Leverage Yourself and Others

1. Measurable Marketing 2. Concrete & Clear Unique Selling Point 3. Joint Ventures 4. Sales, Sales, Sales = Numbers’ Game 5. Trial balloons 6. Find optimal market, message & price 7. Find angles for free publicity 8. Social Media / Blogs 9. Trigger with (basic) test products 10. Repeat customers

Suggestion 7: Power Free Marketing

Suggestion 8: Use Everything That is for FREE, Cheap or @ Discount

Interns: www.interns.com / www.stageplaza.nl / www.enternships.com

Employees: www.elance.com / www.linkedin.com /

Barter & Trade: www.fiverr.com / www.tradekey.com / www.alibaba.com

CRM for SME: www.highrisehq.com / www.marke)nvoice.com

Intranet: www.dropbox.com / www.wetransfer.com

Events: Local Entrepreneurial Communities / www.meetup.com / www.opencoffee.ning.com

Marketing: Local & regional traditional media (TV, Radio, papers, magazines) / FB, LI, Twitter, Pinterest, YouTube, Google+/ Blogs

Newsletters: www.mailchimp.com

Research Local Bank / Accountant / Lawyer / Chamber of Commerce / Government Trade Institutions / www.cia.gov / economist.com

Funding: www.RocketHub.com/ www.efactor.symbid.com /www.crowdcube.com / www.fundingcircle.com / www.prosper.com / www.firskunding.org

Suggestion 9: Don’t Forget to Leverage EFACTOR

• Match with Partners, Investors, Coaches, Customers • Market yourself, your company, your brand, your blogs • Network events, business development • Find employees & interns • 325 knowledge documents for entrepreneurs • Business Resources against discount • FREE Funding Requests & Business Plan support

One Rule: WE Provide the Platform, YOU Make it Happen!

From Bootstrapping to Investors: Timing

1. Intense & Increased Competition

2. Strategic Support

3. Partnerships, Network

4. Credibility

5. Increase Product Development

9

8

7

6 Marketing & Sales Activities

Proven Concept Making Money

Increase Personnel

Governance

Organizational Infrastructure5 10

Conclusion: Your Role Models

BOOTSTRAPPING IS A MENTALITY!

Visit Nowhttp://www.efactor.com/

https://www.facebook.com/efactorhttp://www.twitter.com/efactor

This document was prepared by Eva Hukshorn. Several people and organizations have inspired her to write this presentation, amongst which are, but not limited to the Founders of EFactor, ABN AMRO/RBS, University of Groningen, Institute for Management

Accountants, Paul Grant Founder of the Funding Game

Thank You!