Join Rudolph Rosenberg for an in-depth discussion in this video Getting help from other professionals, part of Entrepreneurship: Bootstrapping Your Business.
- When you start a business, you usually…need the services of other professionals,…such as a certified public accountant, or a CPA,…to help you meet your financial requirements.…You'll also need a lawyer, potentially,…to help you with drafting your terms and conditions…or first contract or NDA and so on.…Of course, for the simpler things listed above,…you can always go on the Internet…and find a solution to your problem.…
But usually in the early life of a company, the problem…is not about finding the solution on the Internet.…Rather, it's the number of problems…that you might have to look up on the Internet…and the expertise you'll have to build…on subjects that you'll only work on…potentially once or twice in the life of your company.…Most of us do that for the simple reason…that we don't have the means in the early life…of our company to hire professionals…in every field to answer our questions,…so one of the ways to go about that…is through bartering.…
Bartering is the age-old exchange…of something for something.…
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.