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Bootstrapping isn’t Dead
Bootstrapping isn’t Dead
While lending is easing again, the lessons and reminders from a difficult borrowing environment these past few years should be remembered. Savvy entrepreneurs realize that the most readily available and cheapest sources of capital are to be found inside their businesses…aka “bootstrapping”. Finding, developing strategies for, and managing wisely the cash already in your business can carry you through difficult periods in your business driven by either constriction or growth.
In short, these strategies usually amount to the following:
- Actively managing the collection of the cash owed to you by customers, rather than passively letting it come in
- Minimizing the amount of inventory you carry
- Carefully analyze and control the payments you make to your vendors
Each of these very general strategies has many options to consider, but some are more impactful than others.
The available information on the internet to help educate entrepreneurs on the strategies to manage their cash for growth is almost endless. Nevertheless, here is a source that holds a tremendous repository of articles to help guide entrepreneurs to manage their cash on Inc.com.
Dave Chase is a Director at Amplēo. He is currently taking a sabbatical to move with his family to Chicago for a service opportunity. This will take him away from Amplēo for three years. He intends to return to Amplēo at the end of this assignment in July 2025.
Before becoming a Partner at Amplēo in 2011, Dave spent 9 years in various financial strategy roles such as divisional CFO at Honeywell International Inc in their Phoenix and New York offices. In 2007, Dave became the CFO, and ultimately the Consumer Division Executive VP, for Cricut, a large private equity-owned company in consumer products manufacturing, distributing, and retailing. Dave has led or been instrumental in raising multiple rounds of equity and debt in excess of $500 million. After a successful career, Dave has used his broad experience in global finance and strategy to assist Amplēo clients. Dave is active in the entrepreneurial and small business mentoring community in Utah and is a frequent speaker on finance and entrepreneurship.
Fun Facts/Hobbies
- Wakeboarding
- Snowboarding
- Ski-mountaineering
- Hiking
- Passion for humanitarian work
Education/Certificates
- MBA from Brigham Young University
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