Extreme Bootstrapping: When Should You Consult Professionals?


A recent blog at The Entrepreneurial Mind discussed when extreme bootstrapped startups need to spend money on their first big-ticket items: office space and employees. While I appreciate a controlled burn rate and spending as much as anyone, entrepreneurs who are most likely to succeed establish relationships with their business attorney, CPA, banker, and commercial insurance agent sooner rather than later.

While many business owners are savvy enough to select the proper entity on their own, many do not understand the difference between trade names and trademarks. Others accidentally give the rights to their logos and other commissioned artwork to their graphic artist and the content of their website to their web host. Some will think they can choose whether a worker is a contractor or an employee. A good business attorney can address these issues on the front end, and save much expense and aggravation later.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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