EP #57 - Jutta Jertrum: How To Bootstrap

Timestamps

2:24 - Why choose bootstrapping?
16:10 - Time management
25:21 - How to frame your product
33:12 - Getting a product into stores
42:57 - Should you go for paid marketing?

The Episode In 60 Seconds

Thinking about bootstrapping? Jutta Jertrum has done it and here are some of the points to consider:

Trade-offs

• Bootstrapping usually means higher independence in exchange for fast growth.
• It may take longer until you pay yourself a salary, since any money comes directly out of the company’s cash flow.

Getting your partner on-board

• Starting a business can strain a relationship, particularly the financial aspects. Do not underestimate this and address it with your partner early on.
• In an ideal situation, a partner can provide the financial support to cover the monthly living expenses. This should however not be expected or taken for granted.

Client acquisition

• Reference clients and authentic customer testimonials are some of the most powerful tools for client acquisition.
• If your offer is declined, always ask why. Don’t be afraid to try again.
• Awards and startup competitions are a great way to get the word out there, gain credibility and free PR.