Innovation is at the heart of every company, and especially every startup. And bootstrapping? That’s a financially savvy move no matter how much funding and revenue you have! Business Collective asked eight business owners what we thought our most innovative bootstrapping technique was, and I was happy to contribute. For me, it’s always been trading with other companies. Everyone and every business has something they’re great at, so why not depend on each other? Bartering is one of the oldest traditions, and it’s a great approach when funds are limited. No matter what you need, you have something to offer in trade for it.
Some of my colleagues swear by holding or attending hackathons, and that’s an aggressive approach that can definitely pay off. Others prefer to seek out all free resources first, and there are certainly plenty! From free help with small business development from the SBA to free seminars in every city, why not take advantage of what’s right under your nose?
Sharing your space or otherwise downsizing is also a fantastic means of lowering overhead and maybe meeting new partners!
Discover more tips now and find out how you can bootstrap better:
