Bootstrapping, or using your own means to help your business
succeed, is a road less taken by entrepreneurs. It is a difficult route that
promises countless days of no sleep and no guarantees of success. However, if
you provide the funding from yourself or with the help of people willing to
help you, you get the following advantages.
1. You
Understand Everything
Every part of your business is taken into detail, or else
you risk losing your business. You clear up your strategy, find the true vision
you want with your business and you implement them upon your whim. You couldn’t
understand everything when venture capitalists or other investors try to pounce
on your parade.
2. Growth
As even if your business profits are still wavering during the
start, you develop a self-control mechanism to manage your growth. Hiring
people based on your profits allow you to remove the risk of over-hiring.
Because you are your own boss who funded your own business, you allow yourself
the proper timeframe to grow your business. The best part is, you’ll never lose
in this route.
3. You
Get All The Equity
Because there’s no investor or venture capitalists
dominating the business, you have all the rights to the produce you have with
your business. You get all the equity and shares of the business, unless you
decide to create an IPO and have public investors help you expand your
business.
