How To Launch Your New Business For Less Than $1,500

Posted by RossKimbarovsky under Startups
From http://blog.crowdspring.com 3860 days ago
Made Hot by: LadySophy on September 25, 2013 12:15 am

Many entrepreneurs delay launching their startup because they believe they don’t have enough money to move forward. Startups can be expensive, but they don’t have to be. The Founder Institute has put together a 10 steps plan for launching a business for under $1,500.

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Comments

Written by mallaharidat
3857 days ago

Hi Ross, You have a great list for how to launch in particular your recommendation for testing and creating a sticky road map. But many may find it costs more than the total amount suggested if they don't have the tech skills or startup experiences (including the "failures") that your article hints at.

Can't wait to see more!

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Written by RossKimbarovsky
3856 days ago

There are so many outstanding resources today, that not having tech skills is no longer a major barrier. It still can be a roadblock, and as you point out, can definitely increase costs. But it doesn't have to be. With so many opportunities to learn to code (many free), there's a way for those willing. And if not willing, then perhaps a technical co-founder could help.

As for startup experience - that definitely helps. But here's a fact that most people don't know. The success rate of entrepreneurs who previously failed vs. those who are just starting out is nearly the same. Only 1% separates them (those who previously failed tend to do just slightly better). That's such a small percentage that it is almost meaningless.

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Written by tiroberts
3859 days ago

Great piece, Ross. It seems that the businesses that have the guts to tough it out and bootstrap it are the ones who have longevity success. You have to be willing to do what it takes to get to where you want to be in life and in business. Thanks for sharing your insights with us.

Ti

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Written by RossKimbarovsky
3859 days ago

All true. Businesses must be able to overcome many obstacles to succeed. While some attribute success to luck, luck can only get you so far.

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Written by HeatherStone
3860 days ago

Hi Ross,

I'm a real fan of bootstrapping, and, at this level of startup cost, that's exactly what we're talking about here. Certainly, tools like Crowdspring are an immense help, but what's your take? Is bootstrapping more talked about now because the level of technology makes it more possible than ever before? Or has it always been just a matter of entrepreneurs finding creative ways to make things happen? Love to let this conversation evolve naturally. Can you give me your thoughts over in the BizSugar comment section so the rest of the community can get in on the discussion?

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Written by RossKimbarovsky
3859 days ago

Heather, bootstrapping has been an option for many years, but the cost of starting a new business made bootstrapping, even six or seven years ago, very difficult (if not impossible) for many people. Today, it's possible to start a business without a ton of money - largely because there are many cloud-based services that have both reduced the costs of starting a business, and have automated or simplified many of the things you need to do when you start a new business.

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