Ideation

The birth of the product/service: DEMO

Ideation involves the newly minted bootstrapper dedicating time and energy towards creating a Demo of the product or service they wish to offer. This stage involves finding a complementary dance partner - a cofounder - who will serve as a key collaboration partner.

There is a misplaced myth in the importance of finding investor capital during this stage. The Bootstrapper must have the discipline to avoid taking this step.

There is also a pervasive myth that bootstrappers have to have a "big idea" before they can get going. The great bootstrappers have small ideas that are are a natural outgrowth of a dedicated Preideation process and they work to get those to customers. Over time, their small ideas turn into big ones.

Similarly, the great bootstrappers do not go it alone. Rather, they find dance partners who complement their skills and talents. This is one of the key actions of the Ideation stage.

• Previous Stage: Preideation
• Next Stage: Valley of Death