Join Rudolph Rosenberg for an in-depth discussion in this video Deciding to work from home, part of Entrepreneurship: Bootstrapping Your Business.
- If it makes more sense for you to work from home…during the first few months of your venture,…then you need to take some actions…right from the beginning,…to make sure your personal life…and work don't get mingled together.…At first, you're just working on your computer,…writing on paper, and it's not such as big a deal.…But, if you're serious about your business,…then you'll be working long hours from home,…and might consider, in the evening,…leaving everything open on the table,…so as to start faster the next morning.…
In no time, you won't know the difference…between your home and office,…and will have a hard time taking time off and relax.…To be able to relax is very important…because as you will work on your company,…you'll definitely need to see people…and change your mind regularly…to stay as fresh and sharp.…The risk, if you never relax,…is that you get so focused on your work…that you start becoming less and less productive…with time because you lose the energy you once had.…
Right from the beginning, you need to be organized…
He shows why beginning with the end is important: framing the venture by anticipating your exit strategy. He explores key resource-planning factors as well as the competencies and considerations required to fund and grow a bootstrapped business. The course then details how to manage the startup and evaluate it realistically to determine whether to stay the course or pull the plug. Finally, viewers will learn how to validate the business-plan assumptions effectively to determine viability and growth trajectory.
- Summarize the five pillars of bootstrapping.
- Determine which type of office space would be most beneficial for a given business.
- Explain the concept of linearizing expenditures.
- Identify the reason why making sales quickly is important to bootstrapping.
- Recall strategies for attracting new customers.
- Recognize the advantages of working in short cycles.
- Explain the importance of having a work-life balance.