Bootstrapper Basics

When bootstrapping a project, there comes a time when you know how much it’s going to take to get it off the ground. It’s not much, but it’s not free. It’s an exciting and terrifying time.

Here’s a simple example:

You need £3k to kick start a project – not much, but enough to stop and make you think.

Here’s the math:

Product Price: £75

Upside after costs, including distribution: £45

Twenty units cover the set-up costs

The question worth asking at this point is this: What must you see to feel confident enough to ask a family member for the money?

Here’s my suggestion: Trial the cheapest prototype you can make and find 5-10 people who would be willing to buy whatever it is you are producing.

Earn while you learn.