Inexperienced entrepreneurs often create overly complex products and startups. I’ve made this mistake too – we all tend to dream big.

When you dream big, you need a lot of time, resources, and money to pursue those dreams.

This is one of the key reasons why many startup dreams never get off the ground – they are too complex and expensive to pursue.

But there are other ways to launch a new company.

For nearly a year before we sought outside funding for crowdspring, we bootstrapped. In fact, I continued to work full time (maintaining an active law practice) while also working full time on crowdspring.

I learned five important lessons during that period, as I discuss in the following video: