The “Time to Start a New Motorcycle Company” series was all set to continue with a short article on bootstrapping when I see Guy Kawasaki just addressed that subject. He sums up a lot in a short piece, some of his ideas may need to be modified a bit for a motorcycle company startup but it’s well worth reading.
Many comments on my first post mentioned the huge dollars needed to make a go of it, well, that depends on your approach.
With all of the automakers running to Washington looking for money and everyone else close behind, the idea of starting a business now and growing it with the money you earn from the business itself seems impossible, yet lots of businesses start and grow like that all the time. No venture capital, no huge loans, just start small and grow, it’s a time tested method that works and these days you’ll probably sleep better if you use cash flow reinvested as your source of funds. Once things get rolling and you have customers and you need capital to expand, it’s easier to get investors if you show them a history of growth from the start instead of showing them an idea that isn’t even off the ground.
UPDATE: As mentioned below in the comments, Guy Kawasaki’s Art of the Start is a really good primer for anyone thinking about starting a company, as well as Reality Check, his latest book.
Link: Guy Kawasaki
B.Case says
One of my favorite writers. Art of the Start is a great book.
-Brian
dave says
Have it. Read it.
The man speaks truth in volumes.