This is how I bootstrapped my first venture which was started during the starting days of Dotcom bubble.
- Shared office space from a Gingelly oil company where they gave us 100 sq ft space, 5 systems, internet connection and a telephone line for $200 a month.
- Provided out of our business model services which helped us sustain till we got a groove into our core business. Services we offered were;
- Linux installation
- System Assembling & Trouble shooting
- Java Training
- Offering real time projects for college students
- Sub sourcing resumes to manpower companies
Since we were out of college we had big network of friends who were college pass outs or students which helped in spreading our services and we got decent response to recover our monthly expense.
- Since it was recession there was acute shortage of jobs. We offered jobs for deposit and we got tremendous response for this. We made $2000 from two people which were our six months liquidity with which we stopped all non core activities and concentrated on core business.
- Apart from those two paid resource. We hired talented people who joined us for no pay. This changed our fortunes.
Having generated 6 months cash flow and a team of talented people we were able to win projects with the HELP of Search Engine Optimization (SEO) and market places like scriptlance.com and elance.com.