Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

21
Never Stop Starting Wednesday, 29 February 12

description

Suffolk Digital Startup Session Monday 27th Feb 2012 @eehub

Transcript of Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Page 1: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Never Stop Starting

Wednesday, 29 February 12

Page 2: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

A Bootstrapping success

Bootstrapping in business means starting a business without external help or capital.

Once upon a time...

Wednesday, 29 February 12

Page 3: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Consider your personal circumstances

Stick to your guns despite what your critics say

If it was easy then everyone would be doing it!

Wednesday, 29 February 12

Page 4: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Bootstrap if you possibly can but avoid:

Cutting the wrong corners

Using equity (your shares) as a liberal currency

Limping along without funding

Wednesday, 29 February 12

Page 5: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Bootstrapping Tips

It’s not only about keeping your costs down : Establish a Revenue Stream

ASAP!

The Internet has made Bootstrapping easier - use it

Be creative with alliances & partnerships

Let Smarta.com be your Bible

Wednesday, 29 February 12

Page 6: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

12 Lessons I’ve Learned

Wednesday, 29 February 12

Page 7: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Pick your business partners wisely

Work backwards from divorce and keep score from the outset.

Wednesday, 29 February 12

Page 8: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Things that look too good to be true, always are.

Watch your back, there is an opportunist waiting at every corner.

Wednesday, 29 February 12

Page 9: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Don’t overplan

Agility is your best asset and remember, everything you plan takes more time and more money.

Wednesday, 29 February 12

Page 10: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Be aware of your over-dependencies

Don’t let them catch you by surprise.

Wednesday, 29 February 12

Page 11: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Harness your customers’ power

They are your best advocates.

Wednesday, 29 February 12

Page 12: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Don’t get phased by your competitors

Treat your customers better than your competitors treat theirs.

Wednesday, 29 February 12

Page 13: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Survive until the market is ready

If you are ahead of the market, make sure you have staying power.

Wednesday, 29 February 12

Page 14: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Educating your customers is expensive

Best leave this to others, even if it turns out to be your competitors.

Wednesday, 29 February 12

Page 15: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Price correctly from the start

Don’t kid yourself about what your product/service actually costs.

Wednesday, 29 February 12

Page 16: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Invest in an audience

It is often more valuable than your current product/service.

Wednesday, 29 February 12

Page 17: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Focus, Focus, Focus

Do fewer things extraordinarily well.

Wednesday, 29 February 12

Page 18: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Wyszkowski’s Second Law

Anything can be made to work if you fiddle with it long enough.

Wednesday, 29 February 12

Page 19: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Oh, and one last thing....

Wednesday, 29 February 12

Page 20: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Never Stop Starting

Wednesday, 29 February 12

Page 21: Suffolk Digital Startup Session on Bootstrapping Monday 27th Feb 2012

Adrian Melrose The First 65 Ltd

@adrianmelrose

Wednesday, 29 February 12