You’re about to learn my proven 8 ways to bootstrap your way to business success so that you can afford to advertise, market and get the right mentor to achieve your goals.
It’s the old catch-22, “You have to spend money to make money.” But how do you spend money to make money if you don’t have money?
One of the struggles I see new business owners frequently grappling with is how to afford to do marketing and get the right mentor to grow their business, especially if they’re not making money yet. Wondering why those who bootstrap often end up just fine? Follow these proven tactics.
Here are my top 8 ways to bootstrap your business success
#1. Use the tools and resources you already have! Make good old fashioned sales calls and send follow-up e-mails to prospects, current and past customers to generate income within 24 hours. Design a compelling offer, a call to action and a reason to buy now!
#2. Barter. Do you have a service or product that can make a quantifiable difference for someone that can provide advertising, marketing, sales, PR services, social media or article submission for you in your business? Offer your services in exchange for their services, it’s a win win!
#3. Make a special offer to all your current and past customers that builds on, or adds to, their last purchase. Give an outstanding price for the value; advertise a limited quantity and a short window of time to buy.
#4. Send your speaking one page to local organizations. Offer to speak for free in exchange for giving you an opportunity to make an offer to the audience or gather the audience members contact information. Make sure the audience is in your target market!
#5. Attend a meet-up group or professional event specifically designed for people that want the result or product you deliver. Your aim should be to get cards and follow up versus giving yours to others.
#6. Reach out to business owners that have the same target market and ask them to send an invitation to their clients with a promotion of one of your products or services. In exchange, offer them a percent of the profit on all sales.
#7. Ask for referrals. Approach colleagues, friends, family, current/former clients and community contacts and ask for referrals in exchange for a gift or dollar amount.
#8. Update your service contract to ensure timely, automated billing in which you receive payment on time, in full every month. Don’t allow outstanding invoices to pile up.
Spend some time over the next week focusing on these eight best practices to bootstrap your business to generate the money you need to get the right mentor and marketing to grow your business fast!
For more business growth strategies on the go, check out my podcast, Unstoppable Success Radio, on iTunes!