TheUnemploymentDojo's Blog

The Art Of Bootstrapping……….How To Be Darn Good At It..

Posted on: July 30, 2010

During good times, people don’t watch their spending! Businesses are extravagant. They spend money on items that are not necessary UNTIL, we have a recession! Frugal becomes the buzz word! Everyone wants to “pareto” what is waste! Kaizen the Toyota way! Yet instant frugality comes at a certain cost price! For one, the fear of hiring new employees in the name of frugality is causing a spiral effect to the economy the country and the world at large! It portrays a lack of belief in a world of abundance! A deep interruption with our natural internal system of belief! Frugality has nothing to do with fear but rather everything to do with generation of cash flow!

We bootstrap not because we are fearful that our resources will wither out….quite on the contrary, we bootstrap because we want to eliminate waste! We bootstrap in order to get the maximum value for the minimum cost! This activity is not driven by fear or pressure or stock markets or even a recession! This activity is driven by biblical principles! This activity is driven by just having what you need! This activity is driven by humbling oneself! This activity is driven by not keeping up with the Jones,Kims,Koles and whatever they are buying! So with that said here is the blueprint:-

  1. Before any purchase, take time ! Delay buying! You will be surprised how many things become irrelevant with time!
  2. Do a cost versus benefit analysis! Will the cost of buying X  outweigh the benefit of having X?
  3. What is the longevity? Most fads fade with time!
  4. Can you afford it? This should really be first! Being able to pay for something doesn’t mean you can afford it! Go figure!
  5. What are you forgoing? What is the opportunity cost? Every time you purchase something,you are doing it at the expense of something else!
  6. How would  you feel about the purchase 3,6 or even 9 months later?

You will not get it the first time! This is a habitual trait that only comes about through practice! You will splurge and get it wrong BUT the beautyof it is that just by being aware(consciousness) of your habits is a step forward in the right direction!

Have a wonderful weekend and……..bootstrap yourself literally! Get in your trunk and don’t come out till Monday!

Lee Kariuki

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Lee Kariuki
1-888-MY-ETHER ext. 04466282

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