Bootstrapping

Some Suggestions
Author : Eva hukshorn, partner EFactor
1. Cost per sale
2. Profit per sale
3. Pipeline
4. Repeat orders
5. Conversion rates
6. Gross profit
7. Fixed costs per month
8. VAT return
9. Budgets & Forecasts
10. Results compared to last year
Suggestion 1: Know Your Numbers!
1. Variable costs are key
2. Diminish overhead costs
3. Avoid capital expenses
4. No long term contracts
5. Watch your payroll
6. Outsource all except your Unique
Selling Point
7. Barter
Suggestion 2: No Cash Outflows Unless Necessary!
1. Universities & Grants funding
2. Competitions
3. Vendor Funding
4. Invoice discounting & Factoring
5. Asset funding
6. Overdrafts
7. Barter
8. Credit cards
9. Revenue, savings
10. Friends, Family & Fools (FFF)
Suggestion 3: Funding Sources
1. Pre-Sale crowdfunding
2. Reward based crowdfunding
3. Peer - 2 - Peer lending
Suggestion 4: Crowdfunding
1. Think before you spend
2. Visuals of prototype
3. No Kinder-berraschung effect
4. Talk to tech advisors
5. Research yourself
6. Get 1 hour free meeting with IP lawyer
7. Fixed Fee
8. Patent pending
Suggestion 5: The Trick With Patents & IP
1. Get a well known coach
2. Experienced board of advisory
3. Equity stake up to 5% incl. vesting time
4. Brand association
5. Discount for high profile customers
6. Testimonials
7. Use resources in your network:
--Share housing, technology, contacts,
databases, distribution &
communication channels
Suggestion 6: Leverage Yourself and Others
1. Measurable Marketing
2. Concrete & Clear Unique Selling Point
3. Joint Ventures
4. Sales, Sales, Sales = Numbers Game
5. Trial balloons
6. Find optimal market, message & price
7. Find angles for free publicity
8. Social Media / Blogs
9. Trigger with (basic) test products
10. Repeat customers
Suggestion 7: Power Free Marketing
Suggestion 8: Use Everything That is for FREE, Cheap or @ Discount
Interns: www.interns.com / www.stageplaza.nl / www.enternships.com
Employees: www.elance.com / www.linkedin.com /
Barter & Trade: www.fiverr.com / www.tradekey.com / www.alibaba.com
CRM for SME: www.highrisehq.com / www.marke)nvoice.com
Intranet: www.dropbox.com / www.wetransfer.com
Events: Local Entrepreneurial Communities / www.meetup.com /
www.opencoffee.ning.com
Marketing: Local & regional traditional media (TV, Radio, papers, magazines) / FB,
LI, Twitter, Pinterest, YouTube, Google+/ Blogs
Newsletters: www.mailchimp.com
Research Local Bank / Accountant / Lawyer / Chamber of Commerce /
Government Trade Institutions / www.cia.gov / economist.com
Funding: www.RocketHub.com/ www.efactor.symbid.com /www.crowdcube.com
/ www.fundingcircle.com / www.prosper.com / www.firskunding.org
Suggestion 9: Dont Forget to Leverage EFACTOR
Match with Partners, Investors, Coaches, Customers
Market yourself, your company, your brand, your blogs
Network events, business development
Find employees & interns
325 knowledge documents for entrepreneurs
Business Resources against discount
FREE Funding Requests & Business Plan support
One Rule: WE Provide the Platform, YOU Make it Happen!
From Bootstrapping to Investors: Timing
1. Intense & Increased Competition
2. Strategic Support
3. Partnerships, Network
4. Credibility
5. Increase Product Development
9
8
7
6
Marketing & Sales Activities
Proven Concept Making Money
Increase Personnel
Governance
Organizational Infrastructure
5
10
Conclusion: Your Role Models
BOOTSTRAPPING IS A MENTALITY!
Visit Now
http://www.efactor.com/


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This document was prepared by Eva Hukshorn. Several people and organizations have
inspired her to write this presentation, amongst which are, but not limited to the Founders of
EFactor, ABN AMRO/RBS, University of Groningen, Institute for Management Accountants,
Paul Grant Founder of the Funding Game
Thank You!