Bootstrapping. How did you start your company?

Starting up by bootstrapping, while often necessary, is limiting. Get past this strategy as rapidly as possible and bring in growth capital.

LinkedIn question from Marie-Dolores Anderson. She selected my response as Best Answer!

My answer: I bought my training/consulting company–for something like $1,000–from the guy who wanted out. I worked from home. I did shoe leather marketing. I traded for services, such as printing. People paid me in advance.

As a result, I was profitable from the beginning, and never had significant debt.

This turned out to be a problem, however. Since I relied on organic growth rather than rustling up growth capital, I grew slower, and was eventually overtaken by VC-backed competitors. I still have a good business, but not as large as I had hoped.

So bootstrapping, while often necessary, is limiting. Get past this strategy as rapidly as possible.

2 thoughts on “Bootstrapping. How did you start your company?”

  1. You are welcome to include the article, or a quote from it, if you give me credit. Best way would be including a link back to the article on my blog.

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