Extended Summary Of The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation To Create Radically Successful Businesses - Based On The Book By Eric Ries
BOOTSTRAPPING IN ENTREPRENEURSHIP? The process of launching and growing a business without external help or capital BOOTSTRAPPING ? A method to raise capital Starting a company with only a little to no assets. Rely on personal savings, sweat equity, lean operations, quick inventory turnover & a cash runway. Take preorders for its product. EXAMPLE KFIT is a fitness-sharing platform. Allows users to discover and book fitness classes and activities
Initially they use bootstrapping approach to start
the platform, get users, and expend their services in many Asian countries
Relied on revenue from bookings and partnerships
to grow without heavy external funding HOW CAN CHEKKU IMPLEMENT BOOTSTRAP? Cut/Avoid Cost If Chekku use bootstrap finance, Chekku needs to spend their financial fund on things carefully. Don’t Quit Chekku needs to stay to maintain the business because to gain a big profit, it takes patience and time. Build An Audience Before launching a product, Chekku can build an audience to have a better amount of customers resulting in increase profit. THANK YOU
Extended Summary Of The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation To Create Radically Successful Businesses - Based On The Book By Eric Ries