Connect with us


How To Bootstrap A Business 101



Suppose you take the road less traveled by. You’re an eager entrepreneur infiltrating the startup world, yet raising capital is implausible and the resourcefulness of bootstrapping a company is the better option for you.

Kudos to you as you reap the various benefits of bootstrapping as opposed to raising capital. Much of it includes the freedom from obligation, added pressure and risk of an investor hanging over your shoulder influencing your every move.

Not only may this save you time and energy, it also trains you to be strategic with small-scale investments you make out-of-pocket, which serves you well as you scale. Here are a few characteristics that will help make your bootstrap story a reality:

It’d be incredibly difficult to bootstrap a business model like Uber. Founded in 2009, recent reports show they have just begun to be profitable in the United States in 2016. Yet, they still recorded over $1B in losses on their balance sheet due to losses overseas. Needless to say, their business model needs more time and money than most to become cash positive.

So if you are looking to bootstrap, be sure to set a reasonable timeline towards monetization so that you understand how your funds will be budgeted over the course of the business’s pre-revenue stages. Once you have that timeline, add 3-months to it to be sure your funds are modestly distributed.

There are many creative ways to incentivize great talent to work with you on your startup other than big-time salaries and signing bonuses. Consider looking towards non-cash assets such as equity, formidable titles, housing and mentorship opportunities to get people to buy into your startup.

Most importantly, the millennial generation is admittedly unenthused with jobs that provide financial stability but don’t align with their passion. According to a recent study conducted by Bentley University’s Center for Women & Business, 84 percent of millennials view making a positive difference in the world as more important than professional recognition. Passion plays a huge role in whether millennials take a new gig. Talk in terms of your shared passion!

Unless you’re a hermit turned entrepreneur, you know people. Starting your own business is an admirable path and your network of business professionals, friends and family will be open to help you in various ways. Relationships are extremely valuable while building your business, so be sure to use them strategically.

It’s not that hard. There are endless resources available for you to develop the skills you need to build the basics for your company. Photoshop? Canva. WordPress? Wix. Excel? Google it. To find how much these easy-to-learn skills will save you, take the time to find price quotes on graphic designers, website developers or business development specialists (whatever that means).

One of the most valuable parts of building your own business is learning, developing and managing all the skills you need to make it work. Not only will this help you in the short-term, but it will also allow you to be proficient with your future employees who specialize in these technical areas.

After 4-steps of how to save money, here is an extremely important 5th step on how to make money. Always be selling. Y-Combinator emphasizes that any entrepreneur should always be either coding, exercising or talking to customers. And while you’re talking to customers, be aware of their feedback and level of interest. Your first sale could come from a conversation on an airplane for all you know.

Granted, please avoid acting like a used car-salesman 24/7. Rather, be aware that every conversation and opinion adds value to your business and product. Perhaps the person has a few people in their network who could become part of your Board of Directors in time.

With these points in mind, bootstrapping your business will be marginally less difficult. Starting a business with the potential to scale exponentially is a marathon-sprint. Not one or the other. You are sprinting for 26.2 miles. Be patient. Be positive. And there’s nothing better when it all comes to fruition.

Fownders is a learning ecosystem for entrepreneurs, by entrepreneurs, built for leaders who want to develop the hard skills and soft skills needed to align their purpose towards a prosperous career and lifestyle.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *





Repetition and practice are the keys to sustained results. How can you begin to execute daily and stay consistent? In this video you’ll learn how to focus on the core activities you need to be performing to take your business to the next level, while also learning to outsource and build a team.

Continue Reading





A lot of entrepreneurs want their product to be perfect before sending it out to the public. Unfortunately this insatiable desire for perfection prevents you from ever launching. Sometimes you need to tighten your bootstraps, sit in the cockpit, and take off. In this video Anthony Delgado explains why it might be the time to launch, even if your product isn’t perfect.

Continue Reading


Is Propelify The Best Startup Event In NJ?



Fownders is going to propelify


In May of 2016 over eight-thousand people gathered for Propelify’s inaugural startup event in New Jersey. Founders, investors, technologists, influencers, CEO’s, VC’s, angels and developers all converged at the Hoboken Waterfront in New Jersey to check out the hype. What did everyone want besides a seed round and all of the glory? Answers and more answers, to what you ask? among other things…

Is Propelify The Best Startup Event In NJ?

Fownders was in attendance last year to answer the same question. We descended on Propelify because the Fownders credo is  something we take very seriously. Therefore we are always sure to support anything that progresses us all towards becoming a community cemented in innovation. Especially when it has to do with startups. Millennial abundance is literally ingrained in our DNA.

Propelify is a first of its kind Northern New Jersey startup event. The Energy was vibrant to say the least.

There was a massive exchange of ideas from some of  the largest companies in the tech space like Uber and Jet, all the way to the mass of solo-preneurs who descended on the Propelify Grounds. It was a monumental event for the New Jersey Startup Community.

As a result the grounds oozed with innovative ideas and forward thinking tech enthusiasts. There was unprecedented access to expert advice and breakout speeches that were delivered to the audience on various stages. Everyone from our very own Gerard Adams to Gary Vaynerchuck of Vayner Media and Jenny Fielding who is the Managing Director of Techstars were on hand and dropping golden nuggets of knowledge on the crowd.

Propelify is heralded as the SXSW of the north. It truly is a testament to the growing startup ecosystem in North New Jersey. This yearly festival is  held on the pier in Hoboken, staring at the New York City Skyline. Over 3000 of the festivals attendees made the trek across the river from New York and further to check out the digs.  It does not surprise me at all. Why wouldn’t they want to come see the Fownders crew and find out about our Award winning Seed 2 Scale Accelerator Program; along with the many other resources being offered to the community by various organizations.

A Few Words of Gratitude.

We want to give thanks to Aaron Price because he is the founder of Propelify. We know that it takes guts and hard work and belief in the fact that the New Jersey Startup Community is ready for an event of this caliber. Aaron pulled it off. He is a special guy because he did it with class and he made it look easy. Do not worry because the truth is that we know it wasn’t. Seriously though, all the way from Newark NJ, we at Fownders give a big hats off to this founder. he Provides an avenue that bring so many like-minded individuals together at a brain exchange of great magnitude. The whole community is grateful for the festival. This single day has inspired many to take action.

Propelify is easily the best startup event in New Jersey. Thanks Aaron!

Propelify 2017

On May 18th 2017, The Fownders team is again attending Propelify in full force. We are Fresh off the second cohort of our flagship, Seed 2 Scale Accelerator. A lot has changed. We have grown. both in wisdom and in numbers. We learned. It is safe to say that we have also, laughed, yelled, pulled out some hair, had loads of fun and more. We have helped entrepreneurs from all over the country take their napkin ideas and turn them into profitable, sustainable and growing enterprises. They have secured funding from our investor network, Won contracts from cities and struck deals with leading media companies. Our cohort companies have launched amazing products and continued to grow under our ongoing mentorship.

The Future of Fownders

Be on the look out at Propelify this year because Gerard Adams will be speaking on (insert topic). More importantly we will be holding interviews on a few lucky entrepreneurs. We want to see if you have what it takes to get into our next program. It is the evolution of Fownders. It is our biggest and most impactful endeavor yet. Entrepreneurs who have an idea or a startup that are looking to get to the next stage of the game need to be on the lookout for those of us in the Grey Fownders T-shirts that say #OWNIT on the back. Do you have what it takes to put your plans into action? Are you are ready for radical responsibility and true success? Come up to one of us and ask us how you can be a part of our next cohort.

In conclusion we are pumped to see the those of you we met last year and hear great stories about all of the growth that you have experienced over the past year. We are equally excited at the prospect of meeting all of you newcomers so that we can hear about how we can help you realize your potential.

Continue Reading