Bootstrapping Basics
What is bootstrapping?
What is starting a business with little to no outside funding?
Give an example of sweat equity.
What is building your own website? (Other valid answers: bartering services, using your home as office.)
What is the main difference between crowdsourcing and crowdfunding?
What is crowdsourcing gathers ideas or labor, crowdfunding gathers money?
Which model gives money with no return expected?
What is the Patronage Model?
What’s the first thing you should do before launching your crowdfunding campaign?
What is solve a real problem or test your idea?
What are the “Three Fs” in bootstrapping?
Who are friends, family, and fools?
Why is sweat equity important in early entrepreneurship?
What is it saves money and shows commitment?
Name one popular crowdfunding platform.
What is Kickstarter or GoFundMe?
Which model involves getting a product or perk in exchange?
What is the Reward-Based Model?
Why is having a compelling video important?
What is it builds trust with backers?
Name one reason why entrepreneurs choose to bootstrap.
What is keeping control of the business? (avoiding debt or developing new skills)
“Every penny saved is a ______.”
What is a penny earned?
What might you ask the “crowd” to do in crowdsourcing?
What is name a product or design a logo?
Which model involves giving a piece of your business to investors?
What is the Equity-Based Model?
When should you start promoting your campaign?
What is early, before you launch?
What do we call the effort and time put into a business instead of cash?
What is sweat equity?
What does DIY stand for in this context?
What is Do It Yourself?
Why is crowdfunding considered a “marketing test”?
What is it shows if people are interested enough to back it?
Which model is most similar to taking out a loan?
What is the Lending Model?
Why is it important to engage with your backers?
What is it builds loyalty and trust, and encourages more support?
True or False: Bootstrapping usually involves getting venture capital early on.
What is False?
Name a creative way to bootstrap a business without spending money.
Network and Collaborate
Promote Your Content
Using free tools
Crowdfunding helps entrepreneurs bypass what traditional institution?
What is a bank or investor?
Name all four crowdfunding models.
What are Patronage, Lending, Reward-Based, and Equity-Based?
What does it mean to “under promise and overdeliver” in crowdfunding?
What is to set realistic expectations and exceed them for your supporters?