Focus on the minimum need and leverage outsourcing
Start with your Minimally Viable Product. When bootstrapping, perfect can be the enemy of a startup company. Spend a lot of time focusing on what is the minimum you need to get your product or service out to the marketplace, tested, and of course, secure your first couple of customers. As revenue starts to come in, you can then invest that back into the business to add on features or upgrade your site. Outsource vs. Hire. Leverage outsourcing sites to get projects completed versus immediately hiring full-time people. While you will be paying a higher rate per hour, your total overhead will be far less in the long run. For us, we have more virtual assistants than we do full-time employees.
Gary is the President of Nealon Solutions, offering strategic marketing consulting services designed to help scale eCommerce businesses. He built two multimillion-dollar businesses in two completely different niches, with RTA Cabinet Store reaching the Inc. 500/5000 list. He has helped over 150 e-commerce companies scale from 6-7 figures, to 8 figures using strategies and processes he has perfected over the years.
Gary is the co-founder of Pawzitivity Pets, which owns several pet supplement companies, as well as several blogs. He also owns Sidekick.co, a virtual assistant company. He recently co-founded Lakehousecapital.io, which helps connect companies that are looking to raise money, find institutions that are looking to invest in companies.
Gary is the author of Notes to A Young Entrepreneur, a book he wrote to help young kids learn about entrepreneurship. In addition to the content on this blog, Gary often writes for Forbes, Medium, and several other major media outlets.