Let Employees Own Projects and Do Not Micromanage

What is one way a bootstrapping entrepreneur can increase innovation while keeping costs low?

Give your employees ownership of their projects or areas. Putting someone in charge and giving them free reign without micromanagement is the best way to inspire innovation in a productive, cost-effective manner. People love responsibility, and if you’ve done your job correctly they should be qualified individuals who do not need a lot of hand-holding. Set them free and watch the outstanding results that will come forth!