Are You Trapped in the Bootstrapping Fallout in Your Business?
Imagine feeling fully supported in your business in a way where you don’t have to do everything by yourself or make every decision on your own. Imagine having a strategy in place that feels like you are able to do what you love and work in your zone of genius a majority of the time.
That is the ideal.
That’s what you should all be aspiring toward.
But, we also know that women business owners are less likely to be selected for loans, for venture capital investments, and for being chosen as federal contractors.
And that means women business owners are often operating with less cash flow on hand.
There are a lot of benefits to bootstrapping, especially in the startup phase.
I know because that’s how I started my first 6-figure business for sure. I still remember spending a whole Saturday moving my wordpress blog to its own host and being terrified I was going to break things. I think I did break things actually, which ultimately cost more not just all that time on a family day but also the money to fix it.
Over time, it becomes clear that while bootstrapping can save you money but it costs you valuable time that you could be putting toward income generating tasks and activities — things that are likely much more in your zone of genius than setting up a shopping cart page on your website.
Let’s face it, as solopreneurs we wear a lot of hats. Most of us equally the finance department as we are the marketing and sale departments. We’re often doing customer service AND IT work in a single day.
But let’s take some time right now to think about what bootstrapping really is …
It’s a time suck, yes.
But mostly it’s an energy zapper.
When you are busy saying a prayer on a task that isn’t your zone of genius — or even your expertise — you are cobbling your business together with duct tape.
If you are ready to start taking yourself and your business more seriously, you’re going to have to change your Bootstrapping Mindset.
Listen to this episode now.
HIGHLIGHTS AND GEMS FROM THIS EPISODE
- The first hurdle to moving away from Bootstrapping Fallout and mindset is dealing with your own scarcity mindset.
- AS long as you remain unsure and unwilling to truly invest — time, money and resources — into your business, there’s always some level of … UNCERTAINTY.
- When you are burned out or stressed over details that aren’t in your zone of genius you don’t have the energy you need to make future focused decisions that will help you actually build your business empire.
- What is one way you are bootstrapping or winging it right now? Where do you have duct tape and prayers holding your business together?
- Try creating a Zone of Genius Grid, where you list all the tasks you do in your business and ranking them by how much you love them and how skilled you are to do them. Specific directions in the podcast itself.