Join Rudolph Rosenberg for an in-depth discussion in this video Keeping mental space for personal life, part of Entrepreneurship: Bootstrapping Your Business.
- When you are working on your company or project,…you can be tempted to work day and night on it…and sometimes, because you're your own boss…and can be on the verge of something big,…you can be tempted to work non-stop…on this never ending job.…Well, you need to be wary of doing just that.…Of course, you'll have to work a lot.…But don't forget to get out, see people,…and have a social life.…It will get you fresher…and you will have over the long run,…more energy to make your venture a successful one.…
By working non-stop and not having a social life,…you can sometimes dry up quickly…and not have the energy required in the medium term.…Having fun and seeing people is a necessity.…You'll also see that by exchanging ideas with your friends,…family, and business contacts,…you'll be solving quicker issues…that you would have worked on…for a longer time if left alone.…So feel good about continuing to have a social life.…It's one of those things that can seem…like a waste of time in the beginning,…but can bring many benefits in the long run.…
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.