Bootstrapping,Your,Company,Suc finance, share, loan Bootstrapping Your Company to Success
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Bootstrapping Your Company to SuccessBy: William CatePublished August 1998[http://home.earthlink.net/~beowulfinvestments/] [http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]Often, service-oriented businesses can bootstrap themselves tosuccess. Bootstrapping is a policy of reinvesting all the money a companyearns into the growth of that company. The owner may not draw a salary forawhile. It's a process that can take 3 or 4 years. At the end of that time,the owner has a debt-free business and recovers his recovers their unpaidtime from the profits the business now earns.Over the years, I've developed about a dozen businesses using abootstapping strategy. Here's an example. My wife is a veterinarian. In1980, she was asked to vaccinate several dogs at the owner's home. Shespent $25 and bought the vaccines. She did the housecall. She took themoney she made and invested it into more supplies. She did more housecalls. In 1985, she had enough housecall clients to buy a building and convert it into a veterinary hospital. The practice continued to grow. Today, she co-owns one of the largest veterinary hospitals in the San Francisco BayArea. From 1980-1983, she didn't draw a salary. I think anyone who intends to build a multinational corporationneeds to bootstrap a business to success. It teaches them the importance ofwisely reinvesting profits into the growth of a company. Without thislesson, public company officers believe they have a right to live off therisk capital of their investors. Too many public companies lose moneybecause management insists upon excessive salaries. You won't get rich by paying yourself an excessive salary. Yourexcessive salary often leads to the bankruptcy of the company. You'll getrich by making your company a success. Once it succeeds, you can sell yourstock in a merger at Market Capitalization. If you use my strategy, you'llwalk away in 5-7 years with $80 million. There are sacrifices in building any company. If you expect yourinvestors to make those sacrifices, your company will fail. If you won'twork 12 hour days for several years for a middle-class income, don't takeyour company public. In fact, don't start a company. Get a job in middlemanagement with a major firm in your industry. Remember that success comes from sacrifice. It comes from makingthe right decisions. It comes from keeping risks low while you keep rewardshigh. The rewards must go to your company, not to your personal bankaccount. If you don't follow these bootstrapping rules, you won't create asuccessful public company. The "live off the investor strategy" oftencreates an SEC nightmare. If the SEC acts, it will make your attorney rich.You didn't take your company public to make your attorney rich.To contact the author: Visit the Beowulf Investments website: [http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village Investment Club Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/] Article Tags: Comes From
Bootstrapping,Your,Company,Suc