EP #57 – How To Bootstrap – Swisspreneur

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EPISODE #57: JUTTA JERTRUM (FOUNDER AND CEO AT TWISTOUT)

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.

 

This episode is brought to you by Blinkist.

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