Before launching a bootstrapped business, it's essential to sell your idea literally by pre-selling your product or service, even if you don't have it fully developed yet. This step helps determine if there's a market for your business and can be done through various means such as offering free services, pre-selling products with discounts, or selling lifetime memberships at a low price. If the pre-sale is successful, launch a minimum viable product (MVP) that gives customers something that works, and ask for brutally honest feedback to ensure you're meeting their needs. This feedback is crucial in making changes to your product or service before investing more time, money, and resources. By following these steps, you can increase the chances of success with your bootstrapped business and avoid wasting valuable time and resources on a dead-end venture.