Entrepreneurs should always look for opportunities to utilise scarce resources creatively across all business functions.
Keep It Internal:
Try and initially keep most taks in-house, trim the fat.
ALWAYS START SMALL:
Start small and keep manageable business plan.
MULTI-TASK AND WATCH COSTS:
Keep a Lid on your personal expenses.
Consider tarding equity for expertise from investors.
Use Bootstrapping Marketing:
Use innovative cost effective marketing strategies.
Consider Virtual Office Space:
Where possible use virtual office space.
Resilience is Free
Bootstrapping Marketing Strategies
In order to minimise cost related with traditional marketing activities, Entrepreneurs should always look for potential bootstrapping opportunities to use to market products.
Solve A Problem, Meet A Need:
Always ensure you are solving a problem or meeting a clear need for the market
Know Your Customer:
Invest in knowing your current & potential customers & get testimonials
Test The Market:
Test your products and ideas with small represantativ custmoer groups.
Venture out and call prospective customers to try your products.
Spend time promoting your business talking to people in your community.
Establish Networks & Connect:
Join sector netowrk groups & connect with others in the sector.
Get Customer Feedback:
Get customer input on their needs, your products ,service & competitors.
Focus on promoting your benefits not just product features.
Tell Your Story:
Always look for an opportunity to tell your story about your enterprise.
Use social media platforms to tell your story, and engage customers .