0368: Build Or Rebuild Your Construction Company By Bootstrapping

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 0368, And It's About Build Or Rebuild Your Construction Company By Bootstrapping</strong></span></h1> <p> </p> <div>Bootstrapping is figuring out how to reduce the cash you need to start or re-start your business, by eliminating any unnecessary overheads while finding out who will give you a hand.</div> <div> </div> <div>If for whatever reason, you're not able to raise enough capital to start-up, you might be able to get what you need by 'bootstrapping' (finding what you need through unconventional or low-cost methods):</div> <div> </div> <div><span style="color: #0600ff;"><strong>Have others lend what you need</strong></span></div> <div> </div> <div> <div>You don't have to purchase new equipment to start your business. Think about what items you might be able to borrow over the short term or do without until the business grows.</div> <div> </div> <div>Draw up a list of your asset needs and make a determined effort to borrow from others what you can while searching online for second-hand items that will save your business money. Are there people you know that are already in the construction business who could lend you what you need?</div> <div> </div> <div> <p><span style="color: #0600ff;"><strong>Call in favors</strong></span></p> <p>Time to talk to friends, other business owners' and family to see which assets, time, or money they can help with. It's a common bootstrapping technique to save money, and chances are there is more help out there than you realize.</p> <p><span style="color: #0600ff;"><strong>Reduced your set up costs and overheads</strong></span></p> <div>Look at the bare minimum you'll need for your living expenses and cut your salary or work for no pay for a time. It's quite common for business founders to put in this unpaid 'sweat' equity to start with.</div> <div> </div> <div>Look around your home and decide what you can sell to raise the cash you need. If your business is that important to you,