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Are you really considered “bootstrapped” if you take on funding? Even if it’s a year’s runway, still seems odd to call it “bootstrapped.” But then again, maybe
by ezekg 8y ago
Are you really considered “bootstrapped” if you take on funding? Even if it’s a year’s runway, still seems odd to call it “bootstrapped.” But then again, maybe I just have a narrow view of what bootstrapping is. I view it as using your own money (often from the business if possible) to fund your company’s growth. Would love to hear others thoughts?
- exolymph 8y agoI concur with your point.
- rmason 8y agoMaybe some terms need to be changed. I've watched some bootstrappers once they've reached product market fit raise a single seed round and that's it. Maybe bootstrapped+ ? Likewise I hate the condescending term lifestyle business. That might fit a barbershop but does it also define a $100 million dollar software business?
- webmaven 8y ago> [...] but does it also define a $100 million dollar software business? It depends on the type of software business. Technically, a lifestyle business is just one that is not expected to ever go through a high growth phase. So a $100M SaaS is probably not a lifestyle business (high growth is at least potentially possible, unless the TAM is too small), but a $100M enterprise software VAR probably is a lifestyle business.
- devgutt 8y agoThis is a common misconception. A lot of role-model bootstrap startups got a small, but crucial, investment at the beginning to focus on their endeavor without to worry about bills all the time. A famous one is Basecamp (https://m.signalvnoise.com/the-deal-jeff-bezos-got-on-basecamp-b7a1cb39179e https://m.signalvnoise.com/the-deal-jeff-bezos-got-on-baseca...).