Business IQ

3 Tips To Successful Bootstrapping With GoGet

Tiffany Loh
Smarter Writer

Tiffany Loh is the Smarter Business™ & News and Digital Editor, with varied writing experience always looking for a unique story

Tiffany Loh
Smarter Writer

Tiffany Loh is the Smarter Business™ & News and Digital Editor, with varied writing experience always looking for a unique story

Bruce Jeffreys, co-founder of GoGet, shares his bootstrapping secrets.

high tech carpark

1. Find an Industry to Disrupt

Actually, this industry is more likely to find you. It did with GoGet. Both Nic and I had begun perceiving vehicles as a resource that could be managed, more like a public utility than an object that you had to own. We wanted to see if other Australians looked at cars the same way.  It turned out they did and GoGet was born.  In the beginning it was fairly primitive, but we saw that it worked and that was enough to keep us going.

 

2. Beware of Too Much Technology

A lot of people think that great technology equals great experience or disruptive innovation. In fact, it’s easy to ruin a business with an over-reliance on technology, believing in tech too much. When we started, the idea of car share was the big thing. We didn’t wait for the technology to make car share possible.  Later the technology definitely helped us grow, but it also changed the way we did things, member-wise, and we had to be really careful not to lose the best things about us by depending on the technology too much. We had to find a balance.

Coincidence doesn’t happen if you don’t take action on the idea in the first place.  So take the action.

- Bruce Jeffreys, GoGet

3. Don’t Ask for Permission and Embrace Luck

As long as you have good intentions, you’ll usually be forgiven.  Also, don’t underestimate the role of coincidence.  It's one of those things that no one can formulate in a business plan – it just happens.  But coincidence doesn’t happen if you don’t take action on the idea in the first place.  So take the action.  Nine out of ten people will tell you your idea is stupid and has no future - even family.  Be prepared for that.

Paul Greenberg, founder of online retailer network NORA, speaking at an event.
Trends
Paul Greenberg on e-commerce: Customers want a personalised experience

Paul Greenberg, founder of online retailer network NORA, is something of a pioneer in Australian e-commerce. After 35 years in the wider industry, he says success still comes b...

Ian Aitken, founder of tech startup SofiHub, talking at an event.
Trends
Artificial Intelligence is more than just a futuristic fad - you're already using it!

Artificial Intelligence (AI) is at the heart of Ian Aitken's tech startup, SofiHub. He believes businesses should stop trying to understand it and instead focus on how they can...

Image shows a worker using an e-commerce platform in a warehouse to fulfill orders.
Tech Solutions
Tech Solutions
How to choose the best integrated e-commerce platform

If there's one constant of e-commerce it's change. Success in the digital world requires an e-commerce platform that can adapt with your e-commerce strategy so that change does...

Image shows two people using free Wi-Fi in a café.
Tech Solutions
Tech Solutions
Be my guest: How guest Wi-Fi services benefit small businesses as well as customers

While ordering a coffee or taking a break while shopping, many customers will take advantage of free Wi-Fi. However, there are many ways small businesses can also benefit by pr...