When in business, you can either invest your time or your money. And when you’re bootstrapping, you are likely to invest your time because you don’t have the money.
Erlend started out with $10,000 and turned that out to be a profitable business 3x over.
Bootstrapping is how entrepreneurs get started, it’s the alchemy of entrepreneurship.
How? Add value to something and do not limit yourself in seeing the big picture by bringing it to reality.
Ask yourself: What is the one thing that I can do today?
The point is, you need to know what you want to do and what can you do. Business is all about having your profits high and your costs low, always look at ways to cut costs wherever you are in your business.
If you want to start one, start promoting your products on Youtube, it’s free! Look for discounts, ask for deals, figure out the most of what you can, invest the money in things that you can.
It is all about “what can we do on what we have?” It teaches you to value money.
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Wow great job getting Dan to do an interview with you! He is the mentor to Dan Lok, an entrepreneur from Vancouver whom I have come to know quite well. Dan (Lok) talks about the impact Dan Pena had on his life all the time. Now I know why!
You mentioned Napoleon Hill and Outwitting book, you wanted to continue but you were interrupted by Dan, what did you want to say?