For the past 19 years, I’ve been on #TeamBootstrap when it comes to running a business, but I haven’t always been as lean as I should have been on the operations side. Having experience being bootstrapped and non-lean versus bootstrapped and lean, I think the combination of a bootstrap mentality and the focus to run a very lean operation is key to succeeding in business these days. In this episode, I cover 11 traits or characteristics you should try to adopt to make this entrepreneurial journey as successful as possible for you.
01:19 The concept of being a bootstrapped company
03:45 Difference between bootstrap vs lean and start-up vs bootstrap
05:22 1. Always focus on cash flow.
06:25 2. You and your team must be able to wear multiple hats.
07:25 3. Have people that will wear single hats.
09:16 4. Relentless focus on the customer and intensely listening
10:32 5. Have a clear understanding of what a good fit and a bad fit.
11:28 6. Have a Get it done mentality
12:38 7. Focus on automation and process
17:18 8. Everything you spend is questioned.
20:52 9. You test often and you learn fast.
22:36 10. You are all in.
23:51 11. Have a close tight like-minded core team.
Thanks for listening and checking out the show notes, any feedback, comments, or questions, send me an email at firstname.lastname@example.org