?? Bootstrap Your Startup Idea into Existence, TODAY! For Less $ - plus an Example Scenario.

?? The Bootstrappers Checklist!

?? Let’s talk about how to get your idea off the ground, for cheap.

That’s what bootstrapping is… launching on a budget.

These are the steps… more detail on each, below.

• Think Big but Start Small
• Find a Target Audience
• Go With What You Know
• Hustle on Social Media
• Get User Feedback, and Iterate
• ? If the Grand Vision is Expensive - Start with a Service ?
• Skip Costly Things That Don’t Move You Forward
• ? ? Provide Value from Day One ? ?

This is how the experts do it…

Details are below.

Let’s pretend that you know a lot about the sneaker industry (I pick that market often). You know where to find other sneaker enthusiasts and you have an idea for that market.

?

?? Let’s unpack the gameplan.

?? Think BIG and Start SMALL

?? Perhaps your idea is to revolutionize the way sneakers are authenticated online. With the right tech and tools, you’d be able to authenticate a pair of sneakers with just a few photos. Game changer, right?

It’s great to think BIG, but perhaps, to get rolling you should start SMALL and work your way up.

???Think of a way you can provide a service for this market, just to get started. More on this below. This will help you build a reputation and customer base.

???Find a Target Audience

?? Before you dive in, determine your exact target audience. Be specific. You might want to disrupt the entire sneaker market, but we’re just getting started.

??Perhaps your target market are sneaker enthusiasts in your city.

Certainly, you can find them. Or, if you want to branch out, maybe find sneaker enthusiasts on Reddit and Facebook Groups, and introduce yourself. We are assuming you already have some contacts in this market you’re going after — so this step should be easy.

???Go with What You Know

?? If you are trying to start a business in an industry you don’t know well, there will be a learning curve that takes quite a bit of time to master. You’ll also spend more time validating your idea in the market, because you won’t know where to find your target audience.

? It’s smart to choose an industry where you know people.

Pick an industry where you can easily find your target buyers. ? Pick a market where you know there are problems that people complain about.?

Maybe you’re solving a problem you’ve had yourself, and you know others would be interested in your solution.

???Hustle on Social Media

?? You don’t need a website right now.

So, skip buying a domain name and building a site. Those steps might make you feel like you’re making progress. Your time is better spent, right now, talking with your target customers.

??You should start sharing your expertise on social media.

Tell people what you know and start sharing your knowledge and learnings. The more you post what you know, the more people will see you as a trusted source in the market. You can build a base of potential customers just by posting on Twitter, Instagram, Reddit, Facebook Groups and Tik Tok. This is something you can start doing right now!

???Once you have your product or service, then you can continue to post on social media and these followers of yours will be your first customers.

?? Get User Feedback and Iterate Your Idea

?? Now that you are talking to your target market (either in person or online) you can start asking them about their problems and frustrations in the market.

??Ask them open ended questions like: “What’s the biggest frustration you have in the sneaker market?”

?? Listen and determine if you keep hearing the same frustrations.

Maybe your idea needs to pivot a little to fit what these people need. Eventually, you should talk about your sneaker authentication idea. But, again, this will take resources to launch — so you need to find a way to start smaller.

???Start With a Service

?? Our huge vision of disrupting the sneaker authentication market is going to take money and resources to pull off. It seems like it would be impossible to even begin. You’re right. Where we are right now, it’s probably impossible to jump in and build the technology to disrupt this part of the sneaker market.

So….

??Get started by providing a service.?

Maybe you want to offer a hands-on authentication service for people in your city. Maybe you want to help people track down rare shoes, for a fee. There are dozens of ways to get moving, by providing a service.

Get creative and list 5-10 service-based ideas that you could do by yourself.

???These usually cost very little (if anything) to start!

This will help you in many ways:

? You’ll immediately start making money, which could pay for the major launch later

?? You’ll build up a customer base for when you launch your huge idea

??? You’ll establish yourself as a key player in the industry

???Skip Costly Things That Don’t Move You Forward

?? Skip traveling to meet other people. Skip building a website and doing SEO to gain traffic. Skip hiring anyone. Skip paid advertising.

?? If you feel you ABSOLUTELY MUST do any of these things, then barter.?

Trade services for services. Have someone make your website, a friend maybe, in exchange for your expertise and services.

Your time should be spent:

?? Determining who your target audience is

?? Finding out the most cost-effective way to reach them

?? Sharing your expertise and vision online with those people

?? Interviewing potential customers to uncover problems

?? Determining a service-based business you could launch

and…. you should…

???Provide Value from Day One!

?? Much like I am doing with ValidatorAI.com and this newsletter… I’m trying to provide value, immediately. When you provide value, you learn the needs of the market.

??If you provide value, people will be drawn to you. People love when others share their expertise, for free. Sure, you’ll want to make money soon, but for now, give people value and form relationships.

?? You’ll get a lot of feedback, and you’ll learn what your future customers need. You’ll learn how motivated they are to solve problems as well. All this while building up a customer list.

?? Again, let’s make today, DAY 1.

Most people fail to start when they look at the mountain ahead of them. Put the huge goal to the side, and let’s take smaller steps. Make progress every day and soon, you’ll be right where you want to be!

This article originally appeared on ValidatorAI.com in August of 2023.

? ValidatorAI.com is the home of the AI-powered startup course and other tool that have helped over 200,000 early stage entrepreneurs pursue their startup ideas.

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