Source | Entrepreneur : By Samara Mahindra
A few years ago, I decided to launch a business in healthcare that is trying to solve a magnum problem in the space. This required excessive funds and rock-solid resilience. As a business, we are not only changing the system, but also changing mind-sets and this is not an easy task for anyone to face or overcome. Doing it bootstrapped is the icing on the cake, so to speak.
Ironically what I seemed to find was that being bootstrapped was a blessing in disguise. The restricted funds can actually help in multiple ways and here are some of my experiences and learnings:
#Innovation – When budgets are tight and you don’t have the money to spend on marketing, recruitment, sales, tech and so on, you are forced to innovate.
Suddenly you find yourself with your team coming up with “out of the box”, innovative ideas that sometimes sound absurd, but most times are extremely powerful and so effective.
#Intuition – I say this all the time, women have strong intuitions. We can sense a situation, person or outcome in the pit of our stomach. Yes, there is no evidential, quantifiable parameters to measure here, but somehow our intuition is rarely wrong. I have seen this time and again.
Hence, when your back is to the wall, take a chance and believe in what you think and feel is right.
#Multitask – We are multitaskers and have the ability to do many things together and successfully. Use this to your advantage. Learn to handle various elements of your business and don’t only focus on what you think you’re good at.
When bootstrapping, you don’t have the luxury of recruiting specialised employees who can do the job for you. So learn and multitask, because you’re inherently good at it.
#Resilience – The fact that women bare children are because we have the strong resilience to great amounts of pain, whether that’s physical or mental. Nature chose it to be this way.