Successful Startup 101: September 2014 Successful Startup 101: September 2014 | Page 26

5 Ways for Bootstrapped
Startups to Get Through
the First Year
By Zach Cutler

In the eyes of an investor, a bootstrapped
startup that has proven stable and successful
within the first year is powerful. It not only
raises confidence in the product and the
leadership behind it, but also indicates that
any invested money will likely not be thrown
away.
Ultimately, when it comes to working with
investors, it’s important to prove that a
startup and the people behind it not only know
how to spend money, but know how to bring
in additional money.
To successfully bootstrap a company in its first
year, it’s important to consider a few things:

1. Cut the nonessentials and focus
on immediate needs.
There is nothing more important to startup
success than the talent that makes it all possible.
Avoid any unnecessary expenses, such as office
overhead or “frills,” to free up money to invest in
better talent.
Virtual offices will allow team members to work
together from anywhere in the world and are
extremely cost-effective. Ultimately, cutting
costs wherever possible will more likely enable
worthwhile investment in a larger team, which
will be the catalyst to growth for the company.