Startup School Femtech Preview: Loring Kaveney on Bootstrapping

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screen-shot-2016-10-14-at-10-07-38-amStartup School Femtech is a one day crash course on running a tech business that’s taught by practicing female tech founders & executives. Join us for a day of peer to peer learning, advice and inspiration directly from the source of those in Minnesota who are doing it.

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The entrepreneur: Loring Kaveney

The topic: Bootstrapping (2:45 – 3:30 p.m)

Title: Co-founder & President

Company: WorkOutLoud

Helping you to keep your customers, forever, WorkOutLoud is a customer community platform that automates the customer side of the equation. By giving your customers the tools they need to self-organize, your organization is able to build deeper, more meaningful relationships, resulting in improved customer retention, referrals and new insights into customer challenges and opportunities.

Why did you select bootstrapping as a topic?

I understand the ups, downs and benefits of bootstrapping a software company and would like to educate Entrepreneurs that are wondering if bootstrapping is right for them or not.  I have been involved with 4 startups over the past 13 years and am currently on my 4th company that has been bootstrapped 100%.

How has bootstrapping been relevant to your business success?

Bootstrapping is relevant to the success of our company WorkOutLoud because we have the ability to make our own decisions rapidly. There are situations when investors are involved and may give direction that they, the investor want the company to go, which could slow down the creative development to new ideas for software enhancements.

What is a brief introduction/overview of your talk?

As a serial Entrepreneur, I understand the exciting highs and tough lows of starting companies, bootstrapping, and running successful operations.

I feel that it is my responsibility to help educate early Entrepreneurs and promote opportunities to create awareness across Minnesota. When bootstrapping there are some very important actions that are needed to make sure you and your company stay protected and allow your company to grow successfully.

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