I was watching “Your Business” on MSNC and Seth Godin was talking about his book “The Bootstrapper’s Bible.” He is a bestselling author of books about marketing. I agree with his explanation that starting up is more than a stage: it is a state of mind that he calls bootstrapping.
In prototype your product or service and do it at a low enough cost so if it doesn’t work, it did cost you much. Trying stuff, taking intelligent risks are your advantages because you are small. Check out the video.
The show notes from the “American Express OPEN Forum on MSNBC” said “When you hear the word “bootstrapping,” most people assume you’re talking about a company that was started without a lot of money. Best-selling author Seth Godin disagrees with that idea. He says bootstrapping isn’t about funding at all. He believes it’s actually a state of mind.”