When Angelia Kane graduated from college she went straight into freelancing. She started with web design, which eventually evolved into consulting. However, it was after the web bubble burst she found her way into marketing. The mind behind Bedtime CEO, she now offers coaching and other services to fellow parents that are just trying to balance their business life with their personal one. As a firm believer in bootstrapping and her own success story, Reuters recently posted an interview with her by Entrepreneur discussing why she feels bootstrapping is the best start-up option.
What’s the biggest misconception about bootstrapping?
That it’s impossible to do. It’s possible. It just takes more planning and time than if a bank cuts you a check. For example, instead of paying a lot of money to lease office space right away you can rent desk space, sometimes by the hour. Also, kitchen incubators are popular [for those starting food businesses]. You can rent a certified licensed kitchen by the hour. As for office furniture, the first place I would look is Craigslist or Freecycle.
Why should entrepreneurs start this way?
You’re more careful spending your own money than someone else’s. When I started my business I didn’t want the overhead of traditional office space. I had competitors who started around the same time. They had well-lit open office space and [high-priced] Aeron chairs, but they didn’t make it. I had a rocky start, but even with the [economic] ups and downs, it wasn’t as hard for me to become profitable. Also, the average entrepreneur has a few failures behind him before he succeeds. If you bootstrap, each attempt won’t cost you too much.
Screenshot from The Bedtime CEO