bootstrapping - entrepreneurship 101 (2012/2013)
DESCRIPTION
Bootstrapping is the process of building your business from your own funds and the revenue from customers, instead of raising money from outsiders such as angels and venture capitalists. This is the method most startups use to build their companies. In this lecture, Charles discusses the formula for successful bootstrapping, including what to do before and during the growth of your startup.TRANSCRIPT
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bootstrapping MaRS Discovery District April 10, 2013 Charles Plant
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Slide 3
what do these companies have in common?
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Slide 4
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Slide 5
what is bootstrapping?
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Slide 6
why would you want to?
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Slide 7
the best companies ever
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Slide 8
100,000 new businesses
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Slide 9
1850 look for funding
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Slide 10
30 exits
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Slide 11
some facts about VCs
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Slide 12
research in moMon
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Slide 13
before you start
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Slide 14
line up credit ahead of Mme
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Slide 15
find a mentor
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Slide 16
pick the right business
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Slide 17
geOng going
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Slide 18
find the pain
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Slide 19
simple business plan
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Slide 20
earn some consulMng revenue
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Slide 21
start building your product
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Slide 22
ramping up
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Slide 23
leverage relaMonships -‐ microsoQ
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Slide 24
find the fox
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Slide 25
look for service opportuniMes
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Slide 26
solve a problem
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Slide 27
low hanging fruit
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Slide 28
land a sale
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Slide 29
you will need credibility
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Slide 30
meeMng big compeMtors head on
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Slide 31
get some revenue
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Slide 32
low overhead
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Slide 33
keep costs variable low fixed costs
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Slide 34
find employees who will share the risk
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Slide 35
leverage suppliers
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Slide 36
build a product
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Slide 37
figure out your business model
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Slide 38
do it again, and again and again
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Slide 39
and then what
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Slide 40
once you have
• products • reference accounts • a working business model • the right people • exponential growth
you should go out and raise money
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Slide 41
quesMons?
@cplant materialminds.com/blog