Better Than Bootstrapping
The secret to scaling your business fast.
“Bootstrapping” is noble in concept but more expensive than you think.
I’ve bootstrapped a business enough times to understand the benefits and the allure of building something without spending much cash. Unfortunately, the bootstrapping method is slow. It typically goes like this:
- Learn and practice new tasks yourself.
- Create a set of standard operating procedures so you can…
- Eventually hire someone else to run those procedures for you.
- Take on the next growing edge of the business and repeat steps one through three.
It’s how most people grow a business. You do each job yourself (initially doing five jobs at once), and gradually hire people to help as cashflow allows.
There’s a Better Way
What is the specific transaction that will generate cash for your business? Do you have a crystal-clear answer to that question?
If so, you can fast-forward the process of scaling your business (and your cashflow) very quickly. Furthermore, you can do so at a lower total cost than the bootstrapping method would require.