I was watching “Your Business” on MSNC and Seth Godin was talking about his book “The Bootstrapper’s Bible.” I agree with his explanation that starting up is more than a stage: it is a state of mind that he calls bootstrapping.
In prototype your product or service and do it at a low enough cost so if it doesn’t work, it did cost you much. Trying stuff, taking intelligent risks are your advantages because you are small. Check out the video. Watch the video of “The Bootstrapper’s Bible” : Managing :: American Express OPEN Forum on MSNBC.