Am I too old to bootstrap a start-up – NEVER!
Bootstrapping, as outlined by Guy Kawasaki,is a set of techniques for launching a start-up without the luxury of deep pools of external financing – you literally “pull yourself up by your bootstraps”. A great example might be the success of Instagram which was sold 18 months after launching, at which point it had a 1bn valuation and still only 13 employees.
MyPix is a bootstrap. 18 months after the initial team met there are still just 8 of us directly involved and you would be amazed at how little we have spent. We meet virtually through the wonderful Skype service – which my daughter also uses far more than she uses Facebook or Twitter by the way.
Two days ago I find myself in Boston for some meetings. I am so used to staying in wonderful hotels on business trips, but what would a bootstrapper do? Yup for less than $20 in Target I get a body pillow and a blanket and I hunker down in the car – $200/night in savings and surprisingly comfortable. I even negotiated the car on Priceline!
You’re never too old to bootstrap!