Bootstrapping

The term bootstrapping originated in the early 19th century. You would literally lift yourself out of the dust and pull yourself up by grabbing your own bootstraps. An almost impossible task. But think about it, you put yourself on your own feet without anyone’s help. The same can apply for business.
In business, although it is very hard to pull it off, it’s not a complete impossible task.

Bootstrapping is a tough way to go though. It places all the financial risk on you as the founder. Extremely limited resources can inhibit growth, prevent promotion, and even undermine the quality and integrity of the product or service envisioned.
On the other hand, you are able to maintain total control over all decisions and the business itself. All the energy goes into the product itself, not into pitching venture capitalists and other potential sources of capital investment. You can get started right away and really focus on the solution you are delivering to the problem in the market you have identified.

In this video, International Business Coach Malte goes over all the hurdles and benefits of a bootstrapped business model. Learn how great well known companies started out from a founder who bootstrapped the company to a multi million dollar business.

See if bootstrapping is for you and apply it to your business as well