On the heels of today's awesome Jam Session with serial entrepreneur Rick Smith, I wanted to follow up with a few lessons from the man himself.

Back in 2009, Rick wrote a great blog post on bootstrapping that summarizes much of our Jam Session.

Here's a preview:

Is it possible to start a business with little or no money? Absolutely. In fact, back in 2004 that’s exactly what I did. I launched World 50, investing only $400.00, and that was to buy stationary to print invoices.

This was good news for me, because I had no money. Zilch, nada, goose egg, the bagel. And I quickly discovered that investors don’t want to invest in you anyway until the model is proven, and then take everything for their investment. Bad idea, particularly if you don’t have a track record.

I learned that with the right approach, starting a business with no money is not only possible; it results in a better company. Here are some tips:

Read the rest here: http://ricksmith.me/2009/04/08/457/