Hacks for the Bootstrapped Entrepreneur

05/03/18

I have a lot of people saying they’d love to start a business … if only they had the money. Below are some hacks for the bootstrapped entrepreneur to help you get through the woeful time of being unfunded...
Before I start this I should be clear, I’m not really endorsing any of these hacks. I’ve done some (not all and I’m not saying which ones). I’m an advocate for a universal, basic living wage. It’s super cool how creative and innovative people become when you take away their worries and concerns for having a roof over their head and food in their belly.  But it kinda doesn’t seem like that’s happening anytime soon so for the person out there dying to start something with a hungry belly and rent due on Friday - here’s some hacks.
  1. Rent to pay? This is a killer for an entrepreneur wanting to put some funds into a domain (note I say the most negatable cost so you can get an idea for how sucky it is to only have enough money to cover rent). The solution: Airbnb your room and sleep on the couch. Believe it or not this is exactly what the founders of Airbnb were doing before Airbnb existing - to make a bit of coin to pay their rent. They went on to set up an international company that enables people to pay their entire rent just by airbnbing for a few nights (results may vary). Motto: sleep on the couch : become an international success.
  2. Coffee meeting? Ahh the elusive coffee meeting. You never want to say no because coffee = opportunities. But what’s an entrepreneur to do when the $5 on a coffee could provide food for a day … Simple - head there early and take a seat at a table with empty coffee cups - pull one slightly closer to you. Hope the person you are meeting shows up before the bar staff clear the table ‘have you ordered?’ says important person you are hoping to get an opportunity from … ‘yeah I just had finished up a meeting actually (explains why there are multiple empty cups) I really can’t drink another right now …’ Boom - take your $5 and buy some pasta and canned tomatoes. Nailed it.
  3. Nil source of income at all? Become a student - interest free loan baby.
  4. Used up all your student loan entitlements? Gutted. Ok we could talk about the benefit. Or the dole. Or Jobseeker support - whatever you want to call it.
Ready for something a bit more substantial? At Hyde Consulting we’re all about getting your startup the funding you need to take it to the next step - so drop us a line and let’s discuss how we can get gas in your tank as fast as possible (use subject line BOOTSTRAPPED and we’ll make sure we meet somewhere that has no coffee purchase obligation ;) )
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