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When you’re bootstrapping your startup, it can be tempting to try to do everything yourself in an attempt to save money. After all, when you don’t have VC backing on your side, you have to stretch every dollar!
However, a do-it-all mentality could ultimately backfire in the long run. If you want to make the most of your financial resources and achieve the growth that will take your startup to the next level, you’re going to have to outsource.
No matter what industry you’re working in, each startup will have essential, time-consuming tasks that can easily take your attention away from the big-picture issues that affect your company’s long-term health. Ignoring these “everyday” tasks will limit your growth — but so will spending too much of your own time on them.
Melissa Bradley’s mission to help women and people of color build their businesses stems from the hardships she faced as a young entrepreneur.
The 52-year-old, co-founder of the mentorship tech platform Ureeka and a Georgetown University professor, started her first company shortly after she graduated from college 30 years ago. The business’s mission was to provide financial literacy services to parents.
Bradley says that when she went to a government agency for a loan, she was told she had three strikes against her: She was Black, she was a woman and the person said she didn’t know any successful Black women in finance.
Bradley, who recently participated in the Ewing Marion Kauffman Foundation and CNBC + Acorns Invest in You’s “Rebuilding Better: A Virtual Town Hall for America’s Small & New Business Owners,” still managed to get her company off the ground. “I bootstrapped,”