The Inner Circle

Sponsored Content | Brand Spotlight Partner What's This?

7 Easy Steps to Bootstrapping a Successful Startup The founder of the popular dating app The Inner Circle built his company from the ground up. Here are his best tips.

Courtesy of The Inner Circle

Just because you don't have the "right" connections or have "enough" money doesn't mean you can't start the business you've been dreaming about. It's not always easy, but many successful entrepreneurs bootstrap—solely finding and raising money and connections they need, without any major outside investment.

No one knows this better than David Vermeulen, founder and CEO of dating app The Inner Circle. Frustrated with lackluster results from other dating services, The Inner Circle hand-selects its members, meaning the people you connect with have passed a thorough screening process to make sure they are just as ambitious and interesting as you are.

What started out in 2012 as Vermeulen and two others has grown to a 13-person company. This summer, the app reached 1 million approved members worldwide and is now soaring in success thanks to its USP of quality over quantity, creating a refined dating experience both online and offline through their renowned monthly events.

Here are Vermeulen's seven best tips for how to bootstrap a successful business:

1. Solve a problem that you personally experience and people around you experience. Vermeulen started The Inner Circle because he wanted dates that were a higher quality and a better match.

2. Leverage your network of friends who experience the same problem. Your friends are your best ambassadors. Vermeulen invited 50 single friends, and friends of friends, to a bar when the company originally launched. They got their friends involved, who got their friends involved.

3. Remember, you don't need to spend thousands of dollars on endorsements. Using micro influencers who genuinely reflect your brand—people who are at the center of their social circle, who are well networked and are genuinely excited about your product—will help spread the word more effectively.

This plus leveraging Vermeulen's network of friends resulted in the original virality needed to get the app off the ground.

4. Trust your employees and use their knowledge. Hire enthusiastic, bright, multi-talented people as it will save you staffing costs. Treat your employees with respect and they will respect you.

5. Listen to your customers' problems, prioritize their impact, and fix at the root cause of the problem. Often the best solutions are the simplest ones.

6. Do customer service yourself. You can give the best feedback, you can spot problems yourself before they arise, you know what the sentiment is and can anticipate fast.

7. Be patient. Don't rush success. While you're waiting profits to build, the end results such as baby cards and wedding announcements are the proof that your product is having a positive impact.

Don't believe us? Sign up for The Inner Circle today!