The Fastest Way To Achieve Profitability For A Bootstrapped Entrepreneur

Dear Bunker,

Last week on The Transition, I discussed the fastest way to achieve profitability for a bootstrapped entrepreneur.

Not all of us are venture-backed startups, so we need to achieve profitability sooner rather than later, especially for those of you with aspirations of working on your ventures full-time. You need revenue to maintain healthy cash flow, cover your operating expenses, and compensate yourselves accordingly.

One of the simplest ways to accomplish this is by narrowing down your product and service offerings, to focus on one core premium product.

I like to keep things simple by following the rule of three:

• One premium product/service

• One perfect customer/target market

• One main distribution channel

I discuss this more in detail on the episode at the link in my signature. Let me know your thoughts by leaving a comment below or by asking a question you’d like me to cover in next week’s episode.