April 11, 2006.
Bootstrapping - A means of finding creative ways to support a start-up business until it turns profitable. This method may include negotiating delayed payment to suppliers and advances from potential partners and customers.
After 3 + years we are still doing this. It's amazing the resources you find you have once you start telling people what you are doing. People in general are willing to help you out, or refer you to someone who will. If you tell a good story and they believe in your vision - ask for help, ask for favors. What is the worst that can happen?
Here are the ways we have bootstrapped at JPD -
- Worked out of our garage for 3 years
- First employee worked for free
- First website done for free
- Second website design, logo, brochures done for 'close to free'
- For one year our Fed Ex driver did not charge a pick up fee
- Worked while having a play date with contract employee's kids - all summer
- Free office furniture on Craig's list
- Paid almost nothing for warehouse shelves & tables from company that was sold
- Free office chair on side of road
- Friend of my husband made our lobby sign, out of scraps - (oh ya it was free too).
- Free office furniture from my Mom's company that was moving and buying new stuff
- Re-use shipping supplies and boxes from shipments
- PR company working with us, we do all the research ourselves, in house
- New Pet Product site being worked on by family friend that is a writer. She won't take money so we send her flowers
Now, don't get me wrong, this is not the glamorous side of running a business. However, you have got to be creative with your spending. Now that we rent space I am sure I can be more creative....and as my husband says, "If you don't ask the question, how will you know the answer?"
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