Why Bootstrapping Your Start-up Idea is Inevitable for Long-term Business Success

The word Boostrapping has been around since the nineteenth century referring to doing impossible tasks like pulling oneself across a yard’s fence using one’s bootstraps.

The founder of a popular hosting service for software development services GitHub, Tom P. Werner actually turned down a six figure salary from Microsoft to work on his own venture. He had to bootstrap GitHub for about five years before accepting a large investment funding.

“Self-sustaining” is the word, you must be able to start off on your own before anyone takes you seriously. No one will be willing to support you if they see you’ve not paid any price to get your ideas off the ground.

Let your dreams inspire you to make necessary sacrifices or adjustments to start up somehow. It may not look perfect or exactly how you want it to be, but seeing the promising picture in the future should spur you to cut down on some luxuries, give off some assets for cash, work for someone to raise money if need be and any other legitimate means to get what you want.

Verify from anyone who has bootstrapped any successful business even the ones that failed along the way. A similar response is that they both had it tough. Knowing what to expect at every phase makes the journey a lot easier. For example the story of Darby and his uncle during the gold rush days in Sacramento California.

These guys gave up on a large deposit of gold that would have changed their lives forever by failing to endure. They gave up their search for gold just three feet away from the gold deposit only to sell off their machine for a few dollars to an astute scrap man who got an engineer to explore the gold site.

The engineer eventually directed his search to that same spot Darby and his uncle called off their search. The astute business man profited millions of dollars from that move.

It’s not going to be that easy as I’ve experienced. It takes determination, focus, calmness, the right information and money.

To bootstrap, you’ll have to learn to do more with little.

Do more with little

It’s only an African man that has experienced acute food shortages that can rightly teach a child how to eat four wraps of Fufu with a meagre portion of Egusi soup without grumbling.

How else can you appreciate “plenty” if you’ve never experienced lack of some sort? This is not to say that only the disadvantaged have greater chances of survival and success in life.

The Nicole and Giovanni (N&G) story of stocks to socks is an inspiring story of a young and enterprising Nigerian, Segun Abiona. He currently produces his own fashionable coloured socks for men. He was inspired to create a durable, colourful and trendy sock while he was in England on a little savings and his personal bank credit cards meant only for flight trips in and out of Nigeria.

N&G faced its share of challenges from cash flow disparity to high import duties, Forex challenges and other salient operational issues.

Segun’s business eventually gained traction as he was able to save up some more money from the bank job he had at the time to complete some required business obligations.  Segun in an interview with the Entrepreneur hub Magazine in March 2016 accepts he’s an advocate for starting with little and also living with little as this attitude helps checkmate living an excessive luxurious lifestyle.

Understand what you’re getting into

Being the boss appeals to everyone especially if you’ve experienced a 9-5 job, it’s a getaway I must say.

No more queries, deadlines and targets you were yoked with as you drooped about the office in less than a corporate suit frowning all day.

The presumed breath of fresh air appears to have set you on a footing for succeeding on your own. That’s true, but there’s still a lot you’ll need to know before you advance into full time entrepreneurship.

On the average, most entrepreneurs sleep less than 6 hours each night; they barely have weekend to themselves, public holidays are taken as workdays.

You might not be psychologically prepared for this, never mind, your passion for your idea will automatically tune you to do this even without knowing it.

Here’s a brief of what to expect:

I’ll like to start with the not so good Part –

Starting a business is like hiking alone especially if you’re going solo at the early stages before introducing a partner later on.

It may be lonely from the onset, here’s what to expect:

  • A life fending for yourself.
  • No business, No pay.
  • Little or no medicals, insurance and pension to say the least during the start-up phase.
  • No planned out leave days.
  • Your business will always need money.
  • You will wear a lot of operational hats – assume responsibility for most operational tasks.

The Good part:

  • The Founder/CEO title to start with.
  • You’ll determine your working hours.
  • You’ll determine your own pay.
  • No more yelling from the boss, you’re in charge.
  • You have the right to choose who to work with.
  • You set the tone, issue policies and govern as you please.
  • You determine who stays and who gets fired.
  • You go on vacation at will.

Getting to the good part may take a longer time than your envisaged depending on a lot of factors, but it’s possible to get there sooner than you expect when you do what works.

Factors like industry, product, pricing, capital, government policies, and other macroeconomic indices pose a challenge to many start-ups. Without backup plans or programs, failing to anticipate any of these threats could spell disaster.

Aim to get it right from the start and move fast. However if you’ve started and got it mixed up halfway, pause and check for areas you’ve done wrongly. Resolve to change and retrace your steps. No matter how long you continue in a wrong direction, it still will not make it right.

To effectively bootstrap, you need to know what you’re getting into by evaluating the “Good” and “Bad” days as you move up. You cannot predict when they’ll show up. Keep an open mind while you get prepared psychologically for likely pressures that would come. I trust you’ll come out on top having done all you should do.

Do miss out, get the complete content here

About Chinedu Ozulumba

Chinedu is a portfolio risk manager and content writer. He believes desired results are born out of creative thinking.

Chinedu is a portfolio risk manager and content writer. He believes desired results are born out of creative thinking.

62 thoughts on “Why Bootstrapping Your Start-up Idea is Inevitable for Long-term Business Success

  1. Rosemary Reply

    It’s hard not to overemphasise how much hard work is needed to start up your own business, so a salutary reminder of what it means to bootstrap.

    • Chinedu Ozulumba Post authorReply

      Hi Rosemary

      I’m glad you found the post helpful.Thank you so much for visiting. Please do check back again.

  2. Kenny Nwakanma Reply

    If this is just an excerpt from the book then I must say, you might have gone around the world to consult great minds and poured out everything here.
    This is beyond nice, this is super.

    Honestly a lot will be learnt from here.

    People don’t show resilience when it comes to business, everyone thinks business is like a ponzi scheme were you seat down and do nothing for money to come to you

    • Chinedu Ozulumba Post authorReply

      Thank you so much Kenny for liking this, I agree with you that business is not a ponzi scheme.

  3. Nnaemeka Uchenna Reply

    Great work, Chinedu. u make me proud. Please, people should be reminded that entrepreneurship habits are developed when you are not your own boss yet. CEOs work longer hours than anyone else in the organisation. Keep up this excellent work.
    With you all the way.

    • Chinedu Ozulumba Post authorReply

      Thank you so much Nnaemeka..I’m glad you found the excerpts helpful. Hope you visit again soon.

  4. Adebayo Folashade Reply

    Nice one sir. Can’t wait to read the whole book. Cuz this chapter has opened my eyes to so many things that need to be fixed in my new business. It’s a good work sir and I give it to you.

    • Chinedu Ozulumba Post authorReply

      I’ll also want to thank you for your support towards the book project. I hope the book does well to serve your interest, God bless you Folashade.

  5. corburt erilio Reply

    Hey very nice site!! Man .. Excellent .. Amazing .. I will bookmark your blog and take the feeds also…I am happy to find numerous useful information here in the post, we need work out more techniques in this regard, thanks for sharing. . . . . .

  6. Free auto approve list 8-9-2018 Reply

    I’ve been having issues with my Windows hosting. It has set me back quite a bit while making the next list. This is the current list that I have. I should add another list in less than a week. I’ll let you all know when the next list is ready. Thank you for your patience.

  7. adult Reply

    I have rad so many articles on the topic of tthe blogger lovers except this
    piece of writing is in fact a nice article, keep it up.

  8. redporn Reply

    I would like to thank you for giving us such a great explanation. You are doing good job. Keep write article like this one! I have bookmark this blog for New update about SEO…

  9. Leslie Wienecke gay cam Reply

    Cool! Interesting information over here. It’s pretty worth enough for me. In my opinion, if all web owners and bloggers made good content as you did, the web will be much more useful than ever before. I could not resist commenting. I’ve spent 3 hours looking for such tips. I’ll also share it with a couple of friends interested in it. I have just bookmarked this web. Done with the job done, I going to find some online sexy cams. Thank you very much!! Greetings from San Francisco!

  10. wantclip Reply

    I’m really impressed with your writing skills as well as with the layout on your weblog. Is this a paid theme or did you modify it yourself? Anyway keep up the excellent quality writing, it is rare to see a great blog like this one these days..

  11. elitepartner Reply

    I need to to thank you for this wonderful read!!
    I definitely loved every little biit of it. I have got you book-marked too look at neew things youu post…

  12. wantclip Reply

    Woah! I’m really digging the template/theme of this website. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between usability and visual appearance. I must say you have done a awesome job with this. Additionally, the blog loads super quick for me on Chrome. Exceptional Blog!

  13. wantclip Reply

    What’s Happening i’m new to this, I stumbled upon this I have found It positively helpful and it has helped me out loads. I hope to contribute & assist other users like its helped me. Good job.

  14. Shasta Reply

    Hmm is anyone else encountering problems with the pictures on this blog loading?
    I’m trying to determine if its a problem on my end or if it’s the blog.
    Any feed-back would be greatly appreciated.

  15. Marlon Reply

    Usually I do not learn article on blogs,but I would like to say that this write-up very compelled me to try aand ddo it!
    Yourr writing taste hass beedn amqzed me. Thanks, very nice article.

  16. seemybed Reply

    Howdy! This post could not be written any better! Reading this post reminds me of my previous room mate! He always kept chatting about this. I will forward this page to him. Fairly certain he will have a good read. Thanks for sharing!

  17. Thea Pilz Reply

    I think the admin of this web site is truly working hard in favor of his web site, since here every information is quality based information.

  18. paykasa Reply

    Paykasa, 16 haneli pin kodundan oluşan, daha önce çok yaygın olarak kullanılan bir ön ödemeli kart türüne benzeyen, içerisinde euro bakiyesi olan bir ön ödemeli sanal karttır. İçerisindeki bakiyeler özel olarak üretilemediği için standart kart bakiyeleri 10, 20, 50, 100, 150, 250 tek kart bakiyesi olarak satılmaktadırlar. Tek kullanımlık bir kart olan paykasa kart, kullanılan sitede kartın bakiyesini girmenize gerek kalmadan sadece 16 haneli tek kullanımlık koduyla işlem yapmanıza olanak sağlamaktadır.

  19. Como ganar Peso Reply

    Thanks for finally writing about >Why Bootstrapping Your Start-up Idea
    is Inevitaable for Long-term Business Success | Aspire By Force <Loved it!

  20. Likehorny Reply

    Thanks for the good writeup. It in truth was once a enjoyment account it. Glance complicated to far introduced agreeable from you! However, how could we keep in touch?

  21. Carroll Shephard Reply

    I don’t know if it’s just me or if perhaps everyone else encountering issues with your site. It looks like some of the text within your content are running off the screen. Can somebody else please comment and let me know if this is happening to them as well? This could be a issue with my browser because I’ve had this happen previously. Thanks

  22. SeeMyBeD Reply

    Sweet blog! I found it while searching on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers

  23. Norberto Reis Reply

    In other words, how do i search for blogs that fit what I want to read about? Does anyone know how to BROWSE through blogs by subject or whatever on blogger?.

  24. Terrell Anchors Reply

    You can certainly see your enthusiasm in the paintings you write. The sector hopes for more passionate writers such as you who aren’t afraid to mention how they believe. At all times follow your heart.

  25. eskişehir escort Reply

    I’m sorry it has taken me so long to make a new list. There were some problems making this list. I also was away from the computer for awhile. I hope you all have had a good month. It’s been almost a month since the last update. The next list won’t take that long to make. At least I hope it won’t.

  26. FirstClassPlaY Reply

    I’ve read some good stuff here. Definitely worth bookmarking for revisiting. I surprise how much effort you put to create such a great informative site.

  27. booty Reply

    It’s not my first time to visit this web page, i am browing this website dailly
    and take pleasant data from here all the time.

  28. ganar Peso Reply

    That is a great tip particularly to those neew to the blogosphere.
    Short but very precise information… Thanks for sharing this one.
    A ust read post!

  29. perder peso Reply

    Simply desire to say your article is as astonishing. The clariity
    in your post is simply soectacular and i could assume you are ann
    expert on this subject. Fine with your permission allow me to grab your feed to keep updated wijth forthcoming post.

    Thanks a million and please continue the enjoyable work.

  30. porno Reply

    Woah this blog is wonderful i really like studying your articles. Keep up the good work! You understand, a lot of individuals are searching around for this info, you could aid them greatly.

  31. JAV Reply

    I wish to show thanks to this writer for bailing me out of this problem. As a result of surfing around through the the net and meeting things which were not productive, I figured my life was over. Living without the presence of answers to the problems you’ve solved by means of this guide is a critical case, as well as the kind that would have badly affected my career if I hadn’t discovered your web site. Your own personal understanding and kindness in handling almost everything was precious. I’m not sure what I would have done if I hadn’t come upon such a stuff like this. I can also now relish my future. Thank you so much for the reliable and result oriented help. I will not think twice to refer your web site to any person who would like tips on this situation.

  32. Heyzo Reply

    Hello, Neat post. There’s an issue with your website in web explorer, would test this… IE nonetheless is the market chief and a large section of folks will pass over your great writing because of this problem.

  33. hotclip Reply

    F*ckin’ awesome things here. I am very glad to peer your post. Thanks so much and i’m looking forward to contact you. Will you please drop me a mail?

  34. sa Reply

    Woah this blog is wonderful i really like studying your articles. Keep up the good work! You understand, a lot of individuals are searching around for this info, you could aid them greatly.

  35. Kathi Filsaime Reply

    I was wondering if you ever thought of changing the page layout of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two pictures. Maybe you could space it out better?

  36. Staci Coupland Reply

    Hi, Neat post. There is a problem with your site in internet explorer, would test this… IE still is the market leader and a huge portion of people will miss your wonderful writing because of this problem.

  37. Pamula Swofford Reply

    Hey there, You’ve done an incredible job. I will definitely digg it and in my opinion suggest to my friends. I am confident they’ll be benefited from this web site.

  38. Aaron Leuthold Reply

    Hi, Neat post. There’s a problem with your web site in internet explorer, would check this… IE still is the market leader and a good portion of people will miss your fantastic writing due to this problem.

  39. Jennifer Lassiter Reply

    An interesting discussion is value comment. I believe that you must write more on this topic, it won’t be a taboo topic however generally people are not enough to speak on such topics. To the next. Cheers

Leave a Reply

Your email address will not be published. Required fields are marked *