The Bootstrap Challenge – Walking the Talk

The real people behind eLance…

Rob Fitzpatrick, a London based tech entrepreneur is the latest startup industrialist sharing all as he stumbles through his very own bootstrap adventure. Via his 10k GBP Bootstrap Challenge Rob pledges to earn income from things he has built.

He writes:

“I want my income to come from things I’ve built… so I’m betting £10k that I can build a portfolio of products which is profitable enough to live off before running out of money… The challenge continues in public until I’ve either quintupled my money or have lost it all… “

This is a very ambitious but noble challenge and aims at the heart of most (if not all) entrepreneurs. We all want to build something ourselves and ensure it’s profitable. We are not driven solely by money, but profit means viability. We are not driven by selfishness, but by passion.

To succeed he will need focus and perseverance – the two likely characteristics he probably hopes the public platform will help drive out. It is certainly one way to push yourself to pursue your startup.

There are many other entrepreneurs who share their experiences. Some in retrospect but others in real time while it happens. It reflects the startup communities openness and typically serves as a warning light for beginners of what to avoid. Many successful stories usually highlight the many failures along the way.

For more on ‘learning from others’ check out one of our earlier posts. Also, keep up with the Bootstrap Challenge at the links below.

Good luck Rob and all other bootstrappers.

Links:
The 10k GBP Bootstrap Challenge
The Startup Toolkit

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You might also enjoy:
+ Samsung’s Pivot From Dried Fish to Smartphones
+ Learning From Other Startups – 6 Real Life Stories
+ Startup Myths – I shall not be fooled again by gurus
+ Lessons Learned From A Hacker News Traffic Spike

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