In an entrepreneur’s perfect world, money would be every bit as
plentiful as great ideas; then no one would need bankers, venture
capitalists, or rich uncles. Alas, the money tree has yet to be
invented, leaving most entrepreneurs to bootstrap their way to success.
No one likes being short of cash, but it certainly compels you to be
disciplined and creative. Last week, at New York Entrepreneur Week, I heard
several young entrepreneurs talk to panel moderator Scott
Shuster about how they managed to grow successful ventures without
boatloads of cash. Here are some tips from the panel:
Use Barter. Abhishek Sharma, president of Bergen Newspaper Group, recalled that before he purchased his company with his partners, he went to The Bergen News to buy a print ad. Noticing that the ad salesperson was somewhat frazzled with various marketing projects, he offered to help out in exchange for a free ad. Now that he owns the newspaper, he frequently barters ad space for a variety of goods and services. “I barter with everyone, from the water cooler guy to legal counsel,” he says. “I leverage my platform. Everyone has money problems, so you have to get creative.” Be careful, though. Barter transactions are taxable, so familiarize yourself with the rules that govern bartering.
To read the full, original article click on this link: No Money? Try These Three Bootstrapping Strategies | Owners Only | BNET
Author: Donna
Fenn
