In this episode of the startup therapy podcast, Ryan Rutan and Wil Schroter delve into bootstrapping a startup. They address common misconceptions about funding, emphasizing the importance of making do with what you have and prioritizing what's truly necessary for business growth. The conversation covers practical ways to manage expenses without external funding, including strategies for hiring, marketing, and managing operational costs through discipline and creative solutions.
The hosts share personal experience on how to navigate the challenges of bootstrapping, highlighting the importance of being resourceful, making money to spend money, and avoiding typical startup traps.
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00:00 Welcome to Startup Therapy
00:08 The Realities of Bootstrapping
01:35 Navigating the Bootstrapping Journey
04:50 Mastering the Art of Compensation in Bootstrapping
22:00 Innovative Marketing on a Shoestring Budget
26:50 Leveraging Vendor Terms and Historical Examples
28:18 The Power of Deferred Payments in Business Growth
33:20 Strategic Use of Credit Cards for Business Expenses
42:20 The Path to Efficient Startup Growth
In this episode of the Startup Therapy Podcast, Ryan Rutan and Wil Schroter discuss the complexities of handling feedback from investors, emphasizing the critical need for founders to properly qualify and assess the advice they receive. They highlight the dangers of acting on feedback without considering its relevance, potential bias, and the investor's qualifications. The discussion covers the spectrum of investor types, from well-meaning but inexperienced individuals to top-tier venture capitalists, and the importance of understanding the context and motivation behind their advice.
You will find how to advocate for a balanced approach that involves questioning, verifying, and thoughtfully considering advice before taking action.
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In today's Startup Therapy Podcast, Wil and Ryan talks about why earning atleast $10,000 per month is one of the most important milestones in your startup career. They stress the need to do whatever it takes to keep your business alive. Hitting this milestone gives you room to handle setbacks and shows that you're making real progress. Tune in for tips on managing startup finances and staying resilient in the ever-changing business world.
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What to Listen For
In today's Startup Therapy Podcast, Wil and Ryan talks about why investors choose to invest on “failed” founders. They debunk the myth that failure marks the end of a founder's journey and shows why giving people a second chance is the best investment. Tune in as they explore the investor mindset, focusing on why they prefer to invest in founders who have shown they can bounce back and learn from failure, ultimately changing how we think about startup success.
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What to Listen For
In today's Startup Therapy Podcast, Wil and Ryan talks about the importance of generating revenue and being willing to do whatever it takes to move a startup forward. They discuss why it's crucial for entrepreneurs to prioritize generating income and share insights on how to overcome challenges in achieving financial sustainability.
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Resources:
What to Listen For