ABSTRACT
This chapter will summarize a variety of bootstrapping techniques that can help an entrepreneur achieve success without needing to raise a large amount of start-up capital. Bootstrapping is defined as the "process of finding creative ways to exploit opportunities to launch and grow businesses with the limited resources available for most start-up ventures". Using customers to spread information about a business is known as word-of-mouth marketing, which is probably the oldest and most commonly used form of bootstrap marketing. The next sections will summarize some of the common bootstrapping techniques used by entrepreneurs. Many entrepreneurs find that forgoing brand-new furnishings and equipment can reduce overhead expenses. Entrepreneurs can reduce employment costs by subcontracting with firms that provide employees for short-term needs through employee lease or temporary employment contracts. This chapter has explored a variety of tools and techniques-collectively known as bootstrapping-that can significantly reduce expenses and cash flow requirements in entrepreneurial ventures.
