Bootstrapping

Most small businesses need to use some bootstrapping techniques in their first years of business. Bootstrapping basically means coming up with some creative ways to save money.  Bootstrapping is a term also sometimes used to describe how many small business owners use their own assets or the assets of their families and friends for start up costs. They do this rather than relying on financing from banks. Bartering, which is the exchange of services, is also a type of bootstrapping.

Bootstrapping Examples:

• Using your own savings or assets
• Using undamaged used containers for shipping
• Recycling paper
• Bartering for office supplies (you give the office supply business something they need)
• Finding trade specific discounts for services or supplies
• Buying used office equipment