Some bootstrapping tips to help turn your ideas into reality

Most startups started without capital injections from venture capitalists and angel investors. Real numbers open their eyes - venture capitalists financed only 0.05% of startups, and angels are responsible for financing 0.91%. Take a moment to really think about these percentages in relation to about 543 thousand new businesses starting each month.

The chances of getting funding are extremely low, so if you are serious about thinking about the realization of your ideas, look into your pocket and start building your bootstrap ladder to the top. This is not easy, but it can be very useful , both personally and financially, when you can keep your share capital intact.

Fully research your market and competitors

Before you do anything, you need to make sure that the business is viable. Is the product or service offered already available on the market? If there are competitors, how will consumers differentiate you? What makes you better? What is the uniqueness of the product?

Create a quick income business model

If you are bootstrapping, you need to make sure that your business model generates a fast income. If not, your reserves will run out before you make a profit. Constant cash flow is imperative - if you look closely at successful bootstrap startups, you will be able to see business models that generate instant income.
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Use your own relationships at the very beginning.

Startups can benefit greatly from media interactions. Journalists and editors receive press releases from advertising agencies in batches. They are not interested in PR people, they are interested in entrepreneurs! They are much more interested in talking with the founders than with advertisers.

For startups, there are many ways of media coverage, so brace yourself and fight.

Get positive feedback from your first customers.

People love startups and new technologies. Everyone likes to look modern, fashionable and stylish. Try to provide first customers with the opportunity to socially light up.

Give a discount in exchange for a link or posting a hashtag on social networks. Post pictures of customers with your product. The narcissism of some of the clients will play into your hands.

Do not be afraid of the proliferation of corporate website

It often happens that start-up sites are rapidly developing at first, but, having spent initial budgets and becoming static, they are in line with those 80% who die in the first 18 months.

If the budget is limited - you can use ready-made templates and themes. Use the tools for business development, and having achieved stability, update your site to the desired state.

Use creativity for branding and marketing campaigns

"Full pocket" will not ensure the prosperity of the brand, which can be achieved using a creative approach. Try to shoot a viral video and run it on the network, it will be more efficient than paying for airtime on TV.

Count every penny spent.

Tracking every penny spent is crucial for a start-up business. Money goes fast when you start. Careless accounting can lead to trouble. Use free specialized accounting software to help keep track of your expenses and their speed. Always control your money - because there is no excuse for those who are lazy to keep records.

Try to reduce your personal expenses as much as possible.

When a startup starts working, there is no good, convenient salary that you can get every month. In the process, everyone should be ready to reduce unnecessary costs. Find ways to drastically cut costs or eliminate them altogether.

Replace a large car with public transport, invite one or two neighbors to reduce living expenses, make coffee yourself instead of buying it in coffee shops. Take a look at your bank account expenses over the past few months to identify areas of spending that can be reduced.

At the very beginning, do as much work as you can.

There is a big difference between work that you cannot do and work that you simply do not want to do. If the task requires special technical knowledge that you do not possess, then, of course, outsourcing this work will solve the problem - but if the work is completely do-it-yourself, the cost of outsourcing will create unnecessary costs.

The cost of painting and redecorating the office are among those that you can do yourself, so spending money on hiring specialists is highly inappropriate.

Be persistent and don't give up

When you begin, there will be many problems and obstacles that need to be overcome. Suppliers and manufacturers are not always ready to work with new companies. It is necessary to show resilience and probably have to beat the thresholds in order to achieve the required relationships. Do not accept the refusal personally - "this is just a business."

PS Bootstrapping business is not an easy task. Honestly, difficult and practically intractable, but far from impossible, so success.