You think it costs a lot of money to bootstrap a startup? Think again. A couple of people I met did it for $32,000. Amazing.

Earlier this year he shifted gears again, embarking on a new version of the site that he describes as a social network for business school applicants. It includes new features such as aggregated GMAT prep and MBA admissions news, a way for members to connect with one another, and social gaming elements to keep members motivated. It makes money advertising test prep services. Amazingly, the new site took only four months and cost just $32,000 in total.

Unless you’re building Twitter or Facebook, the days of huge startup costs for great ideas are going away.

But it takes smart people.  The real value is in the execution and the planning, not in coding and design. Smart Product Managers and User Experience professionals design for simplicity and elegance, not for tons of features.

That’s a huge opportunity for User Experience and Product Management professionals. Are you up to the task?

Read on…