Bootstrapping - An introduction

​Like many SMMEs, in the beginning we were very low on cash and didn't have the money to pump into the business. We were, thus forced to find more cost-effective ways to build our business.

Being a small business has taught us that there is no such thing as a job title in a start-up (especially when you are strapped for cash). We were all involved in everything from marketing, negotiation, web design, packaging design, logistics, supply chain… you name it, we did it.

These are our tips and tricks on bootstrapping (starting a business with your own money).

There are many ways to start your own business without too much money… We learnt that in the digital age, all you need is cash for your initial stock and you can get going and start selling. If you don't use any funders for this initial cash injection it is called bootstrapping.

When starting up a business most funders want to see a proof of concept and some level of assurance that customers will like you product/service. Bootstrapping allows you to provide this assurance. Furthermore, when seeking equity funding (bringing someone in as a shareholder) you can "sell" your shares for a higher amount if you have already started operating.

We will provide tips and tricks on how to create various strategies, plans and documents required to grow your business. We will also showcase the different things that an entrepreneur needs to know and understand about their business and their markets as well as introduce services they can utilise.

We will also provide a service where, for a nominal fee, you can submit your completed strategies for review, comment and fine-tuning by our consultants.

• Define the problem you are solving
• Know your customer
  
• Understand your target market
  
• Create a value proposition​
• Understand the difference between revenue and profit
• Set the right price
• Position your products/services in the market
• Reach your target market affordably
• Get customers to try your product
• Get customers to consistently choose your product
• Show your customers love
• Digitise your business
• Manage the logistics of online sales

 All the above services are part of the service offering of BGH.
​[For more information, send us a message or email [email protected]]