Bootstrapping Rule 4 of 9

In 1998, author Seth Godin published the book, “The Bootstrapper’s Bible.” A few years later, he posted a manifesto based on the book. Here are the takeaway lessons I picked up from reading the book.

Redo the Mission Statement and the Business Plan Every Three Months

Avoid becoming enamored with the legendary stories of Nike or Apple by plugging along with the original vision without adjustments.

Learn and change as you go. Nothing stays the same forever.

Building a business from scratch can be like exploring the unmapped landscape. Now and then, you need to stop and check your where you are.

If you are in the wrong place, move along and get back on the right track.

However, if you have discovered a new place, there is nothing wrong with exploiting it further and see what other opportunities might unfold.

Seth suggested that we need a formal business reinvention process, about three months.

Ask the question, “If we were starting over—no office, no employees, no customers—would we choose to be where we are today?”

Success can be a fine line to walk between getting distracted by the latest fads versus focusing so much on the original vision while the world continues to change all around us.

That is why discussions about the business mission and plan objectives need only happen once every three months or so.

After the quick mission and objective check, you can get back to focus on the work until the next checkpoint.