Bootstrapping is the process of building your business from your own funds and the revenue from customers, instead of raising money from outsiders such as angels and venture capitalists. This is the method most startups use to build their companies. In this lecture, Charles discusses the formula for successful bootstrapping, including what to do before and during the growth of your startup.

1. bootstrapping
MaRS
Discovery
District
April
10,
2013
Charles
Plant

3. what
do
these
companies
have
in
common?
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3

4.
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4

5. what
is
bootstrapping?
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5

6. why
would
you
want
to?
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6

7. the
best
companies
ever
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7

8. 100,000
new
businesses
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8

9. 1850
look
for
funding
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9

10. 30
exits
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10

11. some
facts
about
VCs
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11

12. research
in
moMon
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12

13. before
you
start
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13

14. line
up
credit
ahead
of
Mme
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14

15. find
a
mentor
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15

16. pick
the
right
business
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16

17. geOng
going
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17

18. find
the
pain
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18

19. simple
business
plan
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19

20. earn
some
consulMng
revenue
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20

21. start
building
your
product
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21

22. ramping
up
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22

23. leverage
relaMonships
-­‐
microsoQ
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23

24. find
the
fox
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24

25. look
for
service
opportuniMes
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25

26. solve
a
problem
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26

27. low
hanging
fruit
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27

28. land
a
sale
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28

29. you
will
need
credibility
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29

30. meeMng
big
compeMtors
head
on
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30

31. get
some
revenue
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31

32. low
overhead
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32

33. keep
costs
variable
low
fixed
costs
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33

34. find
employees
who
will
share
the
risk
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34

35. leverage
suppliers
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35

36. build
a
product
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36

37. figure
out
your
business
model
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37

38. do
it
again,
and
again
and
again
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38

39. and
then
what
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39

40. once
you
have
• products
• reference accounts
• a working business model
• the right people
• exponential growth
you
should
go
out
and
raise
money
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40

41. quesMons?
@cplant
materialminds.com/blog
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41