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BOOTSTRAPPING YOUR STARTUP
BALTHAZAR DE LAVERGNE
#TFBARCELONA
A MINDSET ? ✓ Control & Freedom✓ Time to grow✓ Go / No Go situations
YOU’RE THE MAN IN CHARGE
✓ Control everything✓ Focus on the experience✓ Make it personal
FINANCING IS NOT A PROXY FOR SUCCESS
✓ Dumb money✓ Money spent the wrong way✓ Large failures
SUCCESS STORIES ✓ GITHUB
✓ APP SUMO
✓ MAILCHIMP
BOOTSTRAPPING VS
FINANCING ✓ Control✓ Leverage on investors✓ Speed
MEET THE CAVALRY ✓ S o m e w a y s t o fi n a n c e y o u r
operations✓ Maximize your risk
SAVE ✓ 1.5M per month without funding
MADE.COM ✓ Build it after people paid for it✓ Long delays but negative working capital
FOTOLIA ✓ Buy credit for 10 photos✓ Pay your photographers photo by photo
BE CAREFUL ABOUT THE BUSINESS MODEL
BOOTSTRAPPING IS LIKE GOING TO THE
GYM ✓ Great training for employees✓ Sweat baby sweat✓ $$ => education
SKIP THE SEED
MONEY: DON’T PARTY LIKE IT’S
1999 ✓ Act like you didn’t
:SOME TECHNIQUES
MVP
SAAS
ELANCE&
UPWORK
HIRE SLOWLY ✓ You need to be under the water✓ You need to know the job
FAKE IT UNTIL YOU MAKE IT
COLLECT EARLY PAY LATE
PAY WITH RISK
DON’T PAY WITH EQUITY
◊LOSERS DELEGATE ✓ Learn what you don’t know✓ You’ll end up good in finance, HR, Sales
INTERNS SUCK ✓ Tough to build the culture✓ Outsource
DON’T PREVENT RISK, MANAGE RISK
✓ Be generous and focus on the experience
DETAILS MATTER ✓ Emails, welcome process✓ Customer service✓ Even your backend
TIME HORIZON ✓ Before P/M fit you need to survive —> Week✓ After it gets longer