147. Why Most Bootstrapped Businesses Get Stuck (& How to Break Through) with Steve Hoffman

If there’s a perfect time to start a business, it’s in this new normal when everyone’s set on an almost equal footing with everything else going digital.   But how do you make sure that the business you’ll be building has got what it takes to reach the ultimate $10 million dollar goal?   Today, I sat down with Steve Hoffman, a.k.a Captain Hoff, CEO of Founders Space, a worldwide innovation hub for entrepreneurs, businesses, and investors with more than 50 partners in 22 countries.   Be it growing a startup through bootstrapping or venture capital, you name it, Steve has done it.    So hit the play button now to not miss this chance of learning from this Captain Hoff.   We’ll talk about: Introduction [00:00] The role of ideas in starting a business in 2022 [03:45] Need-to-haves vs. want-to-haves: Coming up with the perfect product [10:06] How having the right team is the key to reaching the $10 million mark [14:27] Why you should set strict guidelines in doing business [16:31] The value of having returning customers [21:54] Taking advantage of the opportunity of selling a platform [27:09] How do you make a platform more interactive and more valuable [33:38] Steve’s take on bootstrapping and getting a venture capital [34:55] Resource Links: Brett Trainor Website (https://bretttrainor.com/) Download Startup to Scaleup: A 4-Part Framework to Grow Your B2B Business to $10 Million (https://bretttrainor.com/resources/) About Our Guest: Steve Hoffman, a.k.a. Captain Hoff, is the Chairman and CEO of Founders Space, a worldwide innovation hub for entrepreneurs, businesses, and investors with more than 50 partners in 22 countries. Hoffman is a venture capitalist, the founder of three venture-backed and two bootstrapped businesses, and the author of numerous award-winning books. "Make Elephants Fly", "Surviving a Startup", and "The Five Forces" are among them. Connect with Steve Hoffman: Website https://www.foundersspace.com/ LinkedIn https://www.linkedin.com/in/foundersspace/ Podcasts https://www.foundersspace.com/s/  https://www.foundersspace.com/m/ Books by Steve Hoffman: Surviving a Startup http://SurvivingAStartup.com Make Elephants Fly http://MakeElephantsFly.com The Five Forces that Change Everything http://TheFiveForces.com Connect with me and learn more about growing your business: Email: [email protected] LinkedIn: https://www.linkedin.com/in/bretttrainor/ YouTube:  https://www.youtube.com/channel/UCySoKsETeKxu-Fnf2VfE7Gg Facebook: https://www.facebook.com/TrainorBrett Twitter: https://twitter.com/Brett_Trainor Instagram: https://www.instagram.com/bretttrainor/ If you liked this episode, please don’t forget to tune in, subscribe, and share this podcast.