The Startup Blog - Bootstrapping
by Startacus Admin
Last week Lauren addressed the all important issue of attracting your niche audience, google and good PR! This week Lauren returns with her 8th post for Startacus, on the popular subject of bootstrapping your startup...
"Start-up blog week 8"
"I’ve mentioned in a previous post about my plan to start this business on a limited budget, or bootstrapping as it’s commonly known.
Although bootstrapping isn’t on the surface an ideal scenario for starting a business, particularly when competing with companies that have millions of 
pounds of VC investment, there are certain advantages. One of the key advantages for me is that I am getting to learn about so many different aspects to running a business: financial, marketing, social media, retailers, design, development, and many more. Once the business is more established and I can either employ staff or outsource, it’s good to know that I will have a grounding in these subject areas.
Another advantage is that things have to be done on the cheap. Although this might seem unappealing, it’s amazing how far your money can stretch when you are forced to be a little bit inventive about how you spend each pound to get the best return. Profitability is not a factor at the moment as I’m pre start-up but adopting the principle of getting the highest possible return from any spend is surely a good foundation for a profitable business.
So what are the downsides? Well, one of the most difficult things about bootstrapping is the sheer amount of work to get done, and the breadth of the work. Learning how to focus in on one important area is very difficult when there are others screaming for your attention. So this has been a good learning curve for me in terms of how I get the most out of my time. I thought I’d use the rest of this post to offer a few tips:
-
I love my iPod touch. It’s great for when I don’t have a large amount of time to spare; I can still get something done quickly in 5 minutes
-
Following on from that, one of my favourite apps is Evernote – a straightforward to-do list application. Helpful for prioritising.
-
Reading business news about starting up is great for motivation, ideas and inspiration but it can be a time-zapper. Flipboard is a great application for giving you the most relevant headlines quickly.
-
I try and do my most difficult and high priority tasks early on in the day, as that is usually my most productive time (I’m a morning person) – so a lot gets done between the hours of 7am and 11am.
-
Do emails once a day. Constant streams of information and requests via email can be distracting. Dedicating specific time to replying can save you a lot of time."
About the author: Lauren is an entrepreneur and author of www.theglitteringeyesbrigade.com – a blog about her journey in starting her own business
If you like what you see here on Startacus and want to get involved yourself, why not become a member of our growing community by joining for free here!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
The inaugural LINEUP tech event, happening in Derry, NI has announced key speakers, sponsors and themes for its 5th March event.
Take advantage of today’s digitised world! Here are 4 reasons digital marketing could work for you and your business.
Research shows that the majority of staff prefer benefits to high monetary compensation. Here are some ideas on how to increase talent retention...
Innovative project launched by UK Proptech startup to reduce workers' commuting and in turn help alleviate pollution and congestion
Startup funding is never easy, however here are a few of the options that can help you fund your startup without going broke in the process
The future and success of Britain’s high streets has been long debated. So, what are the tech trends that could help impact the Highstreet in 2020?
Innovative startups are currently being sought by BMW Group Financial Services UK which has just launched the third instalment of its Innovation Lab
Starting a business can be a lot of hard work, so here's a few ways to avoid burnout and find a healthy work life balance.
The child health app on a mission to become the first nationwide digital redbook, just got a step closer to making their mission a reality...
The Cambridge-based startup that has created an empowering tool to drive the next wave of biological innovation
Published on: 7th August 2013
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Lineup 2020 announces key speakers, sponsors and themes 27th Jan 2020 The inaugural LINEUP tech event, happening in Derry, NI has announced key speakers, sponsors and themes for its 5th March event.
- Ideation NI Thon at NI Science Festival sets out to solve global issues 17th Jan 2020 At one-day event Ideation NI Thon, students will get the chance to solve global and local sustainability, environmental, city and health problems.
- NI startup ESTHER takes flight to New York 16th Jan 2020 NI startup ESTHER, a peer-2-peer giving platform allowing charitable donors to give money directly to people living in poverty, head to New York for a 4-day fact finding mission.
- 2019 stats show that the gender pay gap continues 14th Jan 2020 Recent research by Starling bank shows that in 2019, women earned up to £12,319 less per year than their male colleagues of the same age and within the same industry
