During the idea stage, and before having customers or a working prototype of their product, most businesses find it very difficult to raise money. While there are many sources for loans, investments, and grants, few of those are available to businesses which are just starting or have not yet started.

For that reason, many business owners are faced with the challenge of building their business without getting the money that they need. The process of creating a business without having the necessary funds is called "bootstrapping the business."

Bootstrapping Your Business Is Not Rocket Science, But It Helps To Not Quit

The idea of bootstrapping a business is not complicated and does not need to be explained in too much detail. Its core benefit is that it helps the founders of the business keep moving forward. When people start a business, and they cannot get the resources to build the business, they often just give up on their idea. So bootstrapping is a mindset and a way to do everything inexpensively to help the founder go forward with his or her business and turn the business into a success despite not having the funding.

Generating An Income While Bootstrapping Your Business

The best way to get around the problem of having no money is to have the business get paying clients so that the money can come from paying clients.

If it is not possible to get and serve clients in reasonable time, many business founders often get part-time or full-time jobs to help support themselves while building their companies until the business is ready to take in revenue or get funding from loans or investors.

Mobile Apps To Help Your Business

This 4-app business starting series will guide you through the 4 of the most challenging parts of starting your business:

- Business idea phase, and getting past it
- Business planning
- Raising money
- Marketing your business

Also, in addition to these apps, try my app that gives you

Udemy and online course discounts and coupons.

4-app business series on Android & iPhone

Even More Help With Business Courses And Books

Video Explaining Bootstrapping For Your Business

Most entrepreneurs would like to raise money or to have money fall from the sky or a rich uncle. But most entrepreneurs don't get that money, and for that reason you need to learn how to bootstrap your business.

How To Get Things For Free That You Cannot Afford

In various parts of our apps we explain how to get the different things you need either for free, or very inexpensively. Here is a brief recap. To create your website for free, use a service like wordpress.org. If you would like step by step instructions for how to set up your website, visit our step by step instructions for setting up a website page.

And if you need legal help, you can often find forms on sites like legalzoom.com or by getting a free consultation from an attorney. Attorneys often give free consultations where you can discuss the basic issues surrounding your business before you hire the attorney. And most of the marketing you may need to do, you can do for free as long as you do it right. And if you need tools or vehicles to do any part of the work, you can either buy used ones or rent them before you can afford to buy them.

Inevitably fundraising

Of course, bootstrapping forever is extremely difficult and is part of the hardship of starting a business. At some point you need to do fundraising in order to have money for marketing, growth, or other big issues that come up throughout the growth of your company. So don't rule out the possibility of raising money because it makes sense at many junctures of your business.

Of course, bootstrapping forever is extremely difficult and is part of the hardship of starting a business. At some point you need to do fundraising in order to have money for marketing, growth, or other big issues that come up throughout the growth of your company. So don't rule out the possibility of raising money because it makes sense at many junctures of your business.

Here is a video with 15 different fundraising ideas that you can use to raise money for the business you are bootstrapping.

Bootstrapping by marketing to get clients

If you have no funds, one of the best way for your company to get those funds is by getting paying clients. Or if you grow your free client base fast enough, you may get the attention of some investors. Either way, to get clients you need to do plenty of promotion and marketing for your business. We have a number of online marketing and offline marketing actionable tips and techniques you can try in order to get customers. And if you need to learn about the basics of marketing, take a look at out marketing 101 article.

Keep in mind that while you are bootstrapping, despite not having much money, don't just blindly go for every free way to advertise. Not advertising effectively will cost you time and effort. And if your marketing ultimately does not work, your business will pay dearly. For a further discussion of possible marketing mistakes please take a look at our marketing mistakes page. And if you do opt for free advertising, make sure you do it right. For tips on how to do social media and other kinds of free advertising correctly, please take a look at our Twitter marketing, Facebook marketing and Marketing with GooglePlus guides. Another free way to promote your business is through blogging and guest blogging. Blogging has been a very effective marketing tool even before the term social networking was used and before most social sites existed. Definitely look into how you can use blogging and guest blogging to market your business.

Video about how to make or get money

If you are struggling to raise money for your business, and if you have to bootstrap your business, there is a light at the end of the tunnel and hope for you because you can make money online to support your business. Here is a video with 50 unique websites and ideas online that you can use to make money online to fund your business while bootstrapping. And here is an article to help you if you'd like to learn more about business ideas, and the different kinds of business ideas.

For example, here is an overview of one kind of a business idea online. You can make a book, and upload it to Amazon and sell it on Amazon and the Kindle. Below is a tutorial of how to sell your book on Amazon and the Kindle. You can use your earnings there to support your business while you are bootstrapping it.

You can also try to earn money from the revenue of your business. Here is an article about the ad revenue model and what you can expect from it. And here is another video tutorial on business ideas.

Before You Start: Plan Your Business

To make sure that all your bootstrapping hard work doesn't go to waste, make sure you do a good job business planning. You must find a great business niche, create a good business plan, hopefully find a good mentor and co-founders, and only then start your business which you plan to bootstrap.

Here is a full video tutorial on how to write a business plan.

Further Resources On Bootstrapping Your Business

And check out my page where I talk about my business plan book which might help you create a solid plan for your business before you plow into bootstrapping it. I can also help you as a business coach either on an hourly basis or on a long-term coaching partnership. Click on that link to learn more about how you can hire me as a business coach. Or check out my Udemy course coupons if you want to learn about how to start a business by taking an online course.

Article by Alex Genadinik