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What is bootstrapping?
Bootstrapping is when you build a business to profitability without taking outside investments. Usually bootstrapped businesses rely solely on existing revenue to pour back into growth, although sometimes founders who have taken on debt will also say that they bootstrapped.
Bootstrapping means that your business is up and profitable quickly. You lose some of the benefits that outside investment can bring, for example, the option to bet bigger on anticipated growth points or experienced knowledge and connections that investors can bring.
But bootstrapping has the benefit of giving more freedom to a founder to make the decisions they think are right for their company. Bootstrapping can also mean reliable and sustainable growth since you can’t grow without revenue. Some businesses will take investments and go years before they realize it isn’t going to work.
We build some great bootstrapped businesses on Mighty!
Now Read: Our Guide to Bootstrapping Your Business