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    Thread: What is Bootstrapping and why is it important for any business?

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      Default What is Bootstrapping and why is it important for any business?

      What is meant by the word Bootstrapping, what are its qualities and usefulness and why do you think every business needs to adopt it in their operations?


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      There are certain costs that are involved when setting up business, these are known as preliminary expenses in the world of accounting, if care is not taken these initial spending can outweigh the essence of establishing the company which can result in an entrepreneur giving up his precious dreams.

      This is where bootstrapping comes in, this is an investment strategy where the owner of the business looks for the minimum ways to accomplish the things he needs for the business to be up and running such that the profit that will be made in the first few months can take it to break even, this means he must look for the most effective ways of carrying out certain tasks without necessarily compromising quality, this can be quite difficult but the job when done well can have far reaching positive implications.


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      Bootstrapping can be described as a process by which an entrepreneur starts a company with little capital and no external help or aids involved .The finance be personal or from the operating revenues of the new company.
      It is known to be a very cost effective process. This is very important for every business in the sense that;
      a. there is room for steady growth
      b. less capital is required and well managed under the control of very few individuals who are not very desperate to make quick profits
      c. no loans is involved in this case thus the issue of defaulting in anyway or in future business foreclosure cannot come in


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      - Bootstrapping : is The program That initializes The operating System on the computer During start up which proceed it in a computer technology without external input by loading the basic software into a memory of a Computer after opening it or after power on and this operating system will then take care of loading another software as needed .

      - The Importance of Bootstrapping In the First stage are :

      1- It keeps The company Focused .
      2- It Makes The business concept has more mature toward Product or service .
      3- It obvious The entrepreneur's Commitment and determination .
      4- It allows some Miles stones to be achieved .
      5- It gives a chance to be vetted By the market .


      And it is very important for the businesses because it save its time and it helps them too much in taking the decisions For financing the businesses and it helps also in more other things .


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      I actually know if this as something my business men/woman has done this bit I don't know there is name to it

      Bootstrapping is just a way in which an individual or an entrepreneur use their own money or asset to finance a business.

      Honestly personally speaking I think this is the right idea to start small, most especially in places where it's difficult for an average citizen to get a loan to start up a business, and after all the banks are not ready to give out loan for small business.

      Here are ways to get fund to perform Bootstrapping

      1. Cash from savings.

      2. Borrowing against assets, such as your home.

      3. The careful use of selected credit cards.

      4. Keeping your day job, while starting the business in off-hours.

      5. Doing consulting work to provide start-up cash for the business and for living


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      Quote Originally Posted by adex19 View Post
      I actually know if this as something my business men/woman has done this bit I don't know there is name to it

      Bootstrapping is just a way in which an individual or an entrepreneur use their own money or asset to finance a business.

      Honestly personally speaking I think this is the right idea to start small, most especially in places where it's difficult for an average citizen to get a loan to start up a business, and after all the banks are not ready to give out loan for small business.

      Here are ways to get fund to perform Bootstrapping

      1. Cash from savings.

      2. Borrowing against assets, such as your home.

      3. The careful use of selected credit cards.

      4. Keeping your day job, while starting the business in off-hours.

      5. Doing consulting work to provide start-up cash for the business and for living

      I see in my opinion it is important to really learn what boostrapping is and with your little tips it is a little possible adapting them to my needs


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      Default Re: What is Bootstrapping and why is it important for any business?

      The term bootstrapping is a situation an individual start of a business with limited resources or funds or without taking loans.

      Many business nowadays are start off by loans taking leaving such business persons to pay back health loan within the agreed period of time.

      But a bootstrap business doesn't have to pay anyone or organization a dime, while they can begin to use the profit to build up the business.
      Though this is mostly common among the small medium scale Enterprises.

      How does a bootstrap individual get funds, this is either by saving or investing for a long term and use such investment after to start off a business.
      Bootstrapping allows a business owner to maintains complete control of the business without pressure


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      Default Re: What is Bootstrapping and why is it important for any business?

      Bootstrappers usually depend on the very low budget to kick-start their project this budget comes from their income or saving they kick in with lowest possible operating expenses, there are a lot of models available for bootstrappers. Such business takes time to grow up and many who become famous put their efforts on the social media and get their traffic from there in the very initial stage. In such business the only thing that works for owner well is fast inventory turnover if a person/remains able to manage this then he can grow and can manage the finances of his business otherwise survival become tough so this is the reality these people most of the time depending on the social media instead of paying advertisement.

      7 Ways to Bootstrap a Business to Success
      1. Stick to a business domain you know and love, you will work for your passion instead of money, especially in the start.
      2. Find team members to work for equity rather than cash, no immediate cash will be required to pay salaries.
      3. Build a plan around your budget.
      4. Do not open office until you have customers.
      5. Ask for an advance on royalties and vendor deferred payments.
      6. Negotiate inventory management to stay in inventory all the time with suppliers and distributors.
      7. Choose a business model and optimize that.


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      Default Re: What is Bootstrapping and why is it important for any business?

      Quote Originally Posted by Neriah View Post
      What is Bootstrapping and why is it important for any business?
      Bootstrapping in business means starting a business without external help by capital or other financial supports. In one words, it is named as start up business. It's really important for any business. Many people say that without investment or taking loan from others a Forex trader can't get success. It's totally wrong. Because Forex trading doesn't require too much capital. Your required initial capital is $100 only. This is not too much for a Forex trader.

      Introduction stage is really tough for any business. In the growth stage you may find many investor but during introduction stage you have to show a good criteria. Because if you prove that you are really capable of doing a business then people will invest on you. People loves to give water below the tree but they won't help you to cultivate the tree. You need bootstrapping then people will make your tiny capital big if you can show a wonderful stuff. Money bring money-you should keep it in mind.

      In Forex market, it's also same. If you can become a good professional trader then people will automatically search you. They will invest on you. But at first you need to start your business.


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      Default Re: What is Bootstrapping and why is it important for any business?

      I'll give you a simple look at Bootstrap's definition of electronics. It is a system where the microcontroller (or an integrated processor unit) is loaded, where it loads a small bootloader that is integrated into a dead memory rom in the μController microcontroller.

      A bootloader is a small program whose role is to access and write in the program's memory memory that is blocked and can not be accessed without this applet.

      This is a temporary special mode that only works to copy the program into the controller's memory. This mode is often set by putting some strap on or off.

      I hope that my answer will be useful to you.


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