Saturday, September 25, 2010

Lessons on Bootstrapping from Healy Jones

Healy Jones is writing such a great entrepreneurial blog. Here's a great post on 4 Lessons on Bootstrapping a company, which he kind of is doing. Here are my two favorites. On the Ben's Friends patient networks we do both. Couldn't agree with them more:

"1) Be sales and support in the early days. If you do not have lots of capital in the bank you need to be very careful that your service is resonating with customers. The only way to do this on a budget is to do it yourself. Listen carefully to your customers and change your product as fast as you can to meet their needs.

2) You don’t need a 50 page business plan. Two of the three founders used a spreadsheet to define their company’s early stage goals and track their progress; one had a two page business plan and a spreadsheet. You don’t have time to do a beautiful 50 page bplan - just figure out what you think your metrics and costs will be and start executing (and monitoring your progress against your plans.)"