Financial Support: Bootstrapping (English for Business) - By
Transcript
| 00:05 | bootstrapping is easier for some businesses than others . This | |
| 00:11 | depends a lot on startup and operating costs . A | |
| 00:15 | simple bicycle delivery service has lower start up and operating | |
| 00:20 | costs . We can imagine that those same costs would | |
| 00:24 | be higher for a business selling specialty food products like | |
| 00:28 | cricket flour . The bicycle delivery service will be easier | |
| 00:33 | to bootstrap that a food business when a business requires | |
| 00:39 | special ingredients , equipment and facilities . The business usually | |
| 00:43 | grows very slowly and money is often tight . In | |
| 00:48 | other words , money to pay for things is very | |
| 00:52 | limited . What can an entrepreneur due to save money | |
| 00:56 | and help the business grow more quickly . Here are | |
| 01:01 | a few ideas . One work a part time job | |
| 01:05 | somewhere else while running the business , two operate the | |
| 01:12 | business from home while sales grow and then rent a | |
| 01:16 | business based somewhere else . Later , three start with | |
| 01:22 | few or no employees until sales grow and then hire | |
| 01:27 | people for advertise on free social media sites . Some | |
| 01:34 | of these may be possible for some entrepreneurs , but | |
| 01:38 | not for others . What other money saving ideas do | |
| 01:42 | you think an entrepreneur who bootstraps could use ? Because | |
| 01:47 | business costs can be very expensive , Bootstrapping can be | |
| 01:50 | difficult and take a lot of time . The business | |
| 01:55 | will probably grow slowly . Sometimes entrepreneurs bootstrap in the | |
| 02:00 | beginning and then ask for help from investors later . |
Summarizer
DESCRIPTION:
In this video, we will discuss bootstrapping. We will look at four ways entrepreneurs fund or finance their new product or business using their own money and hard work.
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