“Bootstrapping” in business, is to start a business without external help or capital. Start-ups that bootstrap their business fund development of their company through internal cash flow and are cautious with their expenses.
Bootstrapping has been central to my business development plan. I wanted to build a business before looking for partners and diluting my efforts. Sadly this proposition has been the cause of my troubles. I’ve been so keen to ‘own’ the business that I’ve made some wrong decisions right from the start. I rejected the help of a very competent ‘partner’ at the beginning as I didn’t want to share the dream, the work load or the experience. But at the same time I didn’t have the money to do it alone without taking a few short cuts. Mainly in terms of development costs and choosing who to work with.
When I look back at the time wasted by working with an Indian development firm it is upsetting. To save thousands I ironically lost that and more. Time money can not buy. Not to mention the loss of market share to competitors and the emotional struggle to continue and ultimately to start over again.
This experience could have cost me the business but on the flip side it’s made me stronger, the website better and given me so much to learn. These are lessons I’d never have experienced if I were surrounded by experienced people. Now I don’t need to be as the experiences are mine and hard learned.
I have a clear vision of what I aim to achieve and as painful as it’s been to confront my mistakes it been a huge lesson for now and the future. There is a lot of help out there and I should have done more upfront research. It’s good to listen and learn rather than to leap and learn.
Being a one man band has meant a long and lonely road. Everything I’ve touched has been new – from web planning and development through to online marketing and blogging. Now the struggle to build a website is nearing an end the emphasis is shifting to the next battle ground…how to build and energize an online community.
With any luck my time alone in the woods is coming to an end and soon I’ll be joined in a conversation with the community!
photo credit: Martin Kingsley
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You just hang in there Pete. I'm sure the new site will be awesome and well worth the wait. If it wasn't difficult it wouldn't be worth doing…which is exactly what I tell myself after going fly fishing and not catching anything!