
Building a bootstrapped global business as female founder
In the end of 2019, just before the world would change forever with COVID-19, my co-founder and I (both seasoned veterans in the HR and global employment space) decided to take a bold leap.
We saw firsthand the challenges plaguing the industry and believed we could create a better solution. Thus, AgileHRO was born, initially as a small agency of three dedicated individuals with a big vision.
The bootstrapping journey: from agency to IT innovator
Our early days at Agile were marked by passion, grit, and the willingness to do more with less. Operating as a bootstrapped startup meant that every decision was driven by necessity and creativity. With minimal marketing budgets and a reliance on our established reputations, we tapped into founders’ networks to secure our first few clients. This organic, relationship-driven growth was crucial during a time when every penny counted.
By the end of spring 2021, as our confidence and client base grew, we made our first hire – a pivotal moment that marked the beginning of our evolution. Initially an agency, Agile soon transitioned into what we now proudly call a global employment platform. This evolution culminated in 2023 with the release of our platform, Hero. With Hero, we transformed traditional HR services into a suite of automated, tech-driven features, propelling Agile into the realm of IT innovation.
Overcoming challenges with resilience
Building a bootstrapped business is far from a linear journey. We faced numerous challenges along the way, not least of which was a significant cashflow problem that forced us to temporarily pause the development of our platform, hiring and marketing efforts. It was during these testing times that our resilience was truly put to the test. Each setback became an opportunity to learn, adapt, and innovate further.
For me, resilience wasn’t just about weathering financial storms, it was also about trusting in the process and our vision. Our commitment to our mission, combined with the belief that we could deliver better solutions for global employment, kept us moving forward even when the road ahead was uncertain.
Creativity as a catalyst for global expansion
Creativity played a central role in overcoming our resource constraints. With no vast marketing budgets at our disposal, we leaned into building connections, forming strategic partnerships, and leveraging the personal networks of our team. These creative approaches to client acquisition and market penetration allowed us to grow organically, despite the financial limitations that many startups face.
This creative, community-focused approach not only saved costs but also fostered deeper, more authentic relationships with our clients. Today, these efforts have culminated in Agile operating in more than 100 countries, processing missions of salary payrolls, and being featured in major media outlets like Forbes and Business Insider.
Lessons learned and advice for aspiring founders
Looking back on our journey, there are a few key takeaways that I believe are vital for any aspiring founder, especially those working in a bootstrapped environment:
Embrace constraints as opportunities:
Limitations force you to innovate. Every constraint can be turned into a creative solution if you’re willing to look at it from a different angle.
Hire the right people, especially in finance:
One of our most tangible lessons was realising the critical importance of having a strong finance leader. A finance expert who not only manages the books but also understands how to drive growth can be a game-changer. Their strategic insights help ensure that every decision moves the business forward without being hampered by financial roadblocks.
Trust your gut when pivoting strategy:
At times, the market or internal challenges will push you to reevaluate your approach. It’s essential to trust your instincts when it comes to pivoting your strategy – whether it’s evolving from an agency to an HR platform or halting a project to reallocate resources. These pivotal moments can define your long-term success.
Maintain a laser focus on your vision:
While the startup journey is fraught with distractions and setbacks, staying true to your core vision is paramount. Don’t lose focus on your mission; even in challenging times, a clear, unwavering focus can be the anchor that keeps your company moving forward.
Invest in relationships and partnerships:
When budgets are tight, building authentic connections becomes even more crucial. Leverage personal networks and foster strategic partnerships – they not only drive business growth but also open doors to new opportunities and collaborations.
Looking ahead
As we celebrate International Women’s Day on 8th March, I am reminded of the strength, resilience, and creativity that define not just our journey at Agile, but also the spirit of female entrepreneurship worldwide. Building a global business on a bootstrapped budget is no small feat, yet every challenge we faced has been a stepping stone to where we are today.
Moving forward, our focus remains on harnessing these core principles – resilience, creativity, and genuine connection – to drive further innovation in global employment. I hope our story inspires others to trust their vision, embrace the hurdles, and continue pushing the boundaries of what’s possible.