Startup Founder Lessons: Greg Gianforte On Bootstrapping

Startup Founder Lessons: Greg Gianforte On Bootstrapping


Greg Gianforte, is the Chief Executive Officer and Founder of RightNow Technologies Inc. According to Greg Gianforte the single best way to launch a business is to “Bootstrap it.” RightNow CX delivers customer experience management solutions that create the best experience for your customers. .

# In its bootstrapping past, RightNow was housed first in Gianforte’s home, then in a windowless room in the back of a real estate agency, and later in a former elementary school.
# Bootstrapping is both bigger and simpler than saving a dime whenever you can.
# Lack of money, employees, equipment — even lack of product — is actually a huge advantage, because it forces the bootstrapper to concentrate on selling to bring cash into the business.
# For the bootstrapper, business is all about just two things: making product and selling product.
# Bootstrapping clears away the clutter and makes you focus single-mindedly on the customer, which is what any smart entrepreneur needs to do anyway.
# A lot of entrepreneurs think they need money … when they actually haven’t figured out the business equation
# Use sales as a method of market research. It allows you to determine very quickly, without much money, if you have a viable business idea.
# Gianforte began charging for RightNow software within three months of its release. He set the price point deliberately low — offering customers a two-year license instead of a perpetual one — to jump-start his sales.
# Every business needs sales. But a bootstrapper has to be single-mindedly obsessed with sales.
# Sales is really the most noble part of the business because it’s the part that brings the solution together with the customer’s need.
# Building a product presents another problem for a bootstrapper.
# Bootstrapping may be the best way to start a company, but is it the best way to continue to build one? Not always, says Gianforte
Via Inc.com

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  1. The Bitter Truth About Bootstrapping | Tech Start Hub

    [...] the truth about bootstrapping  is that its tough and only the toughest can survive the process. Bootstrapping or booting refers to a group of metaphors that share a common meaning: a self-sustaining process [...]

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