Bootstrap Business Development

Taking steps to build your business


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Why SMEs Should Get Engaged to their Employees

by Annie Kile   March 2013

Recently I wrote a guest post on Merchant Processing Resource’s Small Business Corner.  This short, but power-packed post is all about how Small Business Owners can leverage employee engagement to attract and retain high-performance, highly-productive employees.   It also gives employees who work for over-controlling bosses some sound, logical arguments that it is in the best interest of the business for their boss to “Get out of the way and let me do my job”  without making the mistake of actually telling them to get out of the way and let you do your job.

Hop on over for a quick read you can take to the bank.  I’d love you to come back here and leave a reply that tells the tale of how Participative Management Principles (they’re in the post) have impacted your small business or your relationship with your boss.

Oh, and while you’re here, take a minute to sign up to subscribe to my blog — button’s to your left 🙂


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Would You Advise a 19-Year-Old to Take Out a Biz Loan?

A while back a 19-year-old asked the following question on quora.com:

Say I wanted to start a small business and need startup financing, but I’m only 19 with very little credit history.  Are there banks or loan institutions willing to take that chance?

Here’s my answer – how would you answer the question?  

The first question you need to be able to answer: How will my business make money?

Then, you need to show most lending institutions that you business CAN make money so they can judge their risk. Investors will want to see they can expect a return on their investment (a fancy way of saying they want to know they’ll make money by investing in your business.) So, it is easy to see starting up can be a Catch-22.

My biggest advice is, before you ask friends or family, before you max out any credit cards, contact SCORE, and working with their adviser would be a really, really good place to start. Especially if you have absolutely no idea what running and growing a small business entails.

Remember, loans need to be re-paid. Lending institutions want you to be able to show them you can do that. Reading this short blog post will give you a snapshot of what we’re talking about. 

You can also “bootstrap” your business. This means using various means (such as barter, free website platforms, social networking platforms, consignment agreements, etc. etc.) This can be a very “cheap” way to start a business up – plus you can get your feet wet to see if running a small business is really how you want to go.

But I still very, very, VERY highly recommend educating yourself (you will find TONS of information on the web, you might want to start off with a website like Business Balls and go from there) about starting up, managing, and growing a small business before making any decisions that will impact you long-term.