The Single Best Thing I Ever Did For My Bootstrapped Business

Yesterday I did an online session for more than 70 aspiring bootstrappers. Talking with bootstrapping entrepreneurs is one of my favorite things to do. Learning about the incredible things they are building is like having a window into the future.

But as bootstrappers, it is hard for them to see the forest for the trees like I do. Because they are in all-out survival mode. Because bootstrapping is HARD. 

The entrepreneurs who participated in the session dropped dozens of questions into the chat. Many of them had to do with how to find the best vendors, consultants, fractional resources, interns, accounting firms, angel investors and business partners.

At one point, I realized I was not going to have time to get to all of the questions. So I said, “Look, no matter what you are looking for, the answer is the same. Step away from your desk at least once a day and spend an hour or two just talking to people. On the phone or in person. OK, I guess you could do video calls too, but I find that I listen better when I step away from my computer and the piles of books and papers on my desk. No distractions.”

I started my company in August 2008. In August 2009, I felt stuck. My SaaS product was launched and I had a couple of customers, but I was mainly using it as a tool for my consulting business, which I was trying to wind down. My goal was to move my business model away from billable hours to a subscription-based product, but it wasn’t working and I was not sure what to do about it, or what I needed. 

So I set out to talk to as many people as possible about what I was doing. I committed to making one phone call per day to someone who I thought could help me get unstuck. I was vulnerable in my ask: “Here is what I am doing, but I feel stuck. And given your experience and success doing X, I think you might be able to provide some valuable advice. Would you be willing to talk to me for 30 minutes?”

Each call led to another, and then another, as my chosen experts referred me to others in their networks. My August 2009 call blitz was one of the best things I did to move my business forward. They led me to two advisors/angel investors, a vendor that helped cut my production costs by 60%, and a business partner I did not even realize I needed. Without those three things, I believe I would not have succeeded. 

So when I am asked about my single best piece of advice for bootstrappers, the answer is always the same. Step away from your desk and start making those calls. You will be amazed at where they lead.