A smart start

Eleven fundamental

principles for successfully

bootstrapping your

startup.

Gustaf Brandberg

@gustafbrandberg

thefutureisalreadyhere.se

The Times They

are a-Changin‘ Powered by disruptive technology

Prelude from Cuba: 1. Is it really your dreams you

are following?

2. At what price do you sell

your integrity?

El Medico – The Cubaton Story

Improve the word

through social and

commercial

entrepreneurship.”

No. 1

Get a mission.

”

markshuttleworth.com

No. 2

Build a brand.

Your brand is not about you.

It’s about your customers’ self

perception. Niche thyself.

Build a plan

• Minimum Viable Product

• Clear milestones

• Keep it simple, lean and mean

• Make it foolproof

No. 3

No. 4

Be stubborn on vision.

Be flexible on details.

”No plan of operations survies

the first encounter with the

enemy.”

-- Helmuth von Moltke the Elder

Example:

The whole business plan of Svensk

Fordonsförmedling was founded on

two main assumptions.

Both were wrong.

No. 5

Start with the customer,

work backwards from there.

IKEA:

• Children taken care of.

• Expensive things first.

• One extremely cheap

item in each department.

• A bag or carriage just

when you need it.

• A hot dog for SEK 5

when you leave.

• Generous return policy.

Think hard about all aspects

of the customer experience.

geomeer.com

eavtal.se

Digitally signed agreements

• Dramatically shorter processes.

• No snail-mails.

• No paper originals to archive.

• Less risk for fraud.

Learn to sell a € 1 coin

for € 100 or more. Always price on value and competition,

never on your own production cost.

No. 6

A better alternative for the customer

is not necessarily a cheaper alternative.

Instead, compete on:

• Customer Service

• Product / Service

• Availability

• User Experience

• ...

Green Cross Vending machines with age

control for non-prescribed

drugs that competes on

availability.

Make it fun.

Gamify your business.

No. 7

Preserve your

resources.

Be prepared

for a marathon.

No. 8

No. 9

Hate to fail.

But don’t fear it.

No. 10

Bootstrapping startups

is like Texas Hold’em

1. Only bet on the best

hands, when you are

prepared to go all the

way.

2. If you don’t know who

the loser at the table

is, then it’s you.

3. Save your chips

4. ... but sometimes you

should go all in.

5. You can bluff

sometimes

6. ... but if you do it

often, people will

learn and tell others

7. ... and it is expensive

to have your bluff

called.

kiva.org globeforum.com

No. 11

Think global.

Final words:

Start young • No big fixed expenses.

• No preconceptions of how things

”should” be.

• Lots of time to fail forward.

/ citerus.se

Exchange ideas with me on Twitter:

@gustafbrandberg

Read and comment on my blog:

thefutureisalreadyhere.se

More about my engagements:

tfiah.se/engagements

Public Domain images from Wikimedia

Commons: commons.wikimedia.org

Thanks!

My blog