Start Up Donut Says Now is The Time to Bootstrap a New Business

Start Up bloggers chip in with ideas to keep cashflow under control

[UKPRwire, Tue Jul 21 2009] Venture Capitalist and celebrity blogger Guy Kawasaki says the probability of an entrepreneur getting venture capital is the same as getting struck by lightning while standing at the bottom of a swimming pool on a sunny day. He also warns this may be too optimistic.

What’s the alternative for an aspiring entrepreneur? In a recent blog post on Start Up Donut, Alan Gleeson argues right now is an ideal time to start a business following the bootstrapping principle.

Bootstrapping means starting a business without external funding and maintaining a strict discipline on expenditure. Gleeson suggests a number of ways that start ups can cut costs with smart purchasing decisions.

Purchasing office equipment on eBay
Using a virtual office assistant system rather than a full-time secretary
Choosing efax solutions rather than buying a physical fax machine
Using Open Office or Google Docs for word processing instead of Microsoft Office
Promoting your offering through blogs, commenting on blogs and other relevant forums
Hiring staff that are generalists and are happy undertaking a range of varied tasks

While it’s not the easy option, Guy Kawasaki argues bootstrapping is an art form that entrepreneurs need to perfect. As he points out, “as long as you have money, you're still in the game.”

Start Up Donut is a new resource dedicated specifically to SME start ups. Published by BHP Information Solutions it builds on the success of Marketing Donut, a free sales and marketing resource that provides down-to-earth, practical advice for small business owners and managers.

Contact:
Mick Dickinson
BHP Information Solutions
London, UK
0117-904-2224
info@marketingdonut.co.uk
http://startupdonutblog.co.uk/