I bootstrapped my own startup growing it to 150,000+ users. How did I do it? It all started with my obsession with creating websites .... and a single Google Ads voucher for $75 worth of advertising credit. Book a call and I'll tell you how I did it :-)
Also an expert in...
My experience with self-funding DULO has been a great data point into the advantages of running a bootstrapped business, how to leverage that freedom and how to make the most out of working within constraints. My goal with DULO was to build my own employer, where I will have the freedom to work on whatever I want, whenever I want from wherever I want and unless only you are paying your own pay cheques you lose the control and freedom and defeat the whole purpose of being a business owner.
Also an expert in...
My company is 100% revenue-financed, meaning we've never taken a single dime from anyone. Maintaining a lean and disciplined ideology is what helped our company become profitable and cash flow positive, very early on. Keeping organized and accurate books and financial metrics is vital in any business, especially a startup.
Also an expert in...
I bootstrapped NinjaOutreach to a 20 person company over the course of 4 years. I'm well versed in how to grow a business on a budget, and ways to save money and be more efficient with cash to increase your runway. All of my businesses have always been bootstrapped.
Also an expert in...
The majority of startups are funded by their founders and never receive funding in the form of a loan or equity from investors.
But strutting it out on your own means you need to be headstrong, determined, resourceful, frugal and able to hustle and grind your way from nothing to success.
60% of new businesses are either losing money or breaking even and the majority of startups that fail do so because they run out of cash. This means that success will will depend on your ability to cover your costs while bringing a solid profitable product to market.
Growth Mentors have been through the process and their success has earned them a place among the minority of startups that actually succeed - their insight can help guide you away from the pitfalls that trip up most entrepreneurs and keep you on the path to growth.
The only people who know what it’s like to build a company from nothing are the ones who have done it for themselves. It takes discipline and resourcefulness and even if you have that there are going to be surprises on the way that will catch you off-guard.
The best way to plan for the journey ahead is to talk to the people who have walked the same path and can give you advice on situations that you may face. Find your way forward by talking to the mentors that have bootstrapped their way to seven figures on a shoestring.
When you’re just getting started, giving away a portion of your business for some cash may be necessary to grow, but anyone who’s done it knows that it hurts. But with the right idea you may be able to find the capital you need without giving away equity.
Talk to a resourceful growth mentor who can help you find ways to get cash in the door quickly and cut down your expenses to what’s really essential. Find profit early and make every dollar you give out work for you.
Bootstrapping often means keeping your startup lean, running at minimum cost, and maximizing the return on every dollar spent. Seasoned entrepreneurs who have bootstrapped their own startups will be able to help you find and leverage the right tools to save you time, money and resources. They’ll also have worked with several freelancers/agencies that they can recommend to help you find quality work from affordable sources.
Is your business at the right stage to start looking for outside investment? Do you understand the implications of tying your startup’s future to the needs of your investors? Raising money is more than just a check that gives your business liquidity, it has implications that extend from how quickly you need to scale to how soon you plan to exit.
A mentor can help you evaluate whether external funding is something you should consider or if maybe it’s better to grind it out until your business is in a better position to scale.
Sometimes boiling your product idea down to its Minimum Viable Product is a quick way to get it to market quickly and start bringing in some cash. But what features are essential, and which will cost you more time and development money keeping you away from the customers you could be selling to now?
Talk to someone who can give you feedback on your product’s development, and what you need before you can realistically expect to start selling it to customers in a way that you can afford.
Yep. Talk about whatever you want. You might start the chat talking about your general situation then spend a few minutes to discuss what sort of help you're looking for. We think conversations are more meaningful and effective if they're kept casual. There are no "rules." Just be comfortable and try and have some fun!
Great question. No, you don't have to, but the better prepared you are the more value you'll get out of the calls. Try and be ready with the talking points you want to go over before the call.
Yea, the mentors set their own rates. We encourage the growth mentors to charge "friendly" rates. We think that mentorship has value for both the mentor and the mentee. This is a safe space where you can get in contact with mentors that intimitely understand the challenges of growing a startup and legitimately want to help. We believe that karma is a real thing and it's part of our brand's core values. We like to attract mentors that embody that, which is why you'll always find that a certain percentage of mentors are donating their time for free.
Many of the mentors on the platform are already working fulltime at other positions and are mentoring on the side for their own reasons. But there are also a number of mentors who are open for side-gigs. If you want to hire your mentor to do actionable work for you as opposed to simply consulting you, you are free to ask them. This is a personal matter between the two of you which does not concern Growthmentor as a platform.