Most businesses can be launched in a capital efficient manner. Most businesses can go a long way in a bootstrapped mode. As long as you’re not taking on capital guzzlers like drug discovery or semiconductor chips, you have many options to explore.
At 1Mby1M, we don’t insist on fund raising. A bootstrapped, capital-efficient, million dollar business is considered a success in our worldview, as long as you are profitable and sustainable.
What is bootstrapping? It’s what happens when you use your own resources, which you control, to build a business.
The following five courses focus on different bootstrapping methods, so if you study all of them ahead of time, you’ll be able to cross the first barrier of getting your venture off the ground.
After that, consider completing one or more of these five courses on selecting what kind of business to start.
E-commerce, for example, is a very popular side-hustle for numerous entrepreneurs. It is also a popular home-based business chosen by solo founders. You can get started by selling a product on Amazon or eBay marketplace with very little investment. We have numerous case studies showing you how.
Finally, consider this course for innovative startup ideas and the methodology of ideation. These ideas are based on our deep knowledge of entrepreneurship and decades of experience. Feel free to use and modify them in any way you wish. Learn also how to ideate effectively.
Remember, a bootstrapped, capital-efficient, million dollar business can offer you a wonderful lifestyle and a rewarding journey.
If you have any specific questions, come and see me at a 1Mby1M free roundtable.
P.S. We’re looking to partner with community leaders who write blogs, teach and mentor entrepreneurs, and help support startup ecosystems in every corner of the world, no matter how small or how remote. I have written about my own journey building startup ecosystems around the world, and how you can draw from my lessons from the trenches. If you’re interested in partnering with 1Mby1M, please consider joining our ambassador program.