- Understanding the buyer is the key to being a strong seller
- It’s all about passion
- How, and why, to charge real money for real products
- There are different pathways to the same dollar
- The true value of bootstrapping
The fifth lesson is a good one that we take to heart over here. Fried points out the valuable lesson of bootstrapping your business. A business with no funding has to make money on day 1. A funded business spends money on day 1 while the making money part (the hard part) takes a back seat. Bootstrapping brings out the fight and the drive to make something work on day 1 because day 100 isn’t promised. As a testimonial to this lesson, we have never taken a loan on our part and hopefully will never have to. Our products and services have worked from day 1 and now we’re going on our 5th year.
Head on over to Inc Magazine to read How to Get Good at Making Money.