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5 ways to bootstrap your startup
- onion2k 13y agoThree of the points are joining an accelerator, taking out loans and crowd-funding. If you're raising capital through selling equity or taking on debt, you're not bootstrapping. Bootstrapping is doing it without external money, working on the side if necessary, until the business has revenue to pay you so you can do it full-time.
- yoavush 13y agotaking loans/crowdfunding do not give away equity and are you trying to say that joining an accelerator means you can't consider yourself bootstrapping?
- onion2k 13y agoPerhaps you're using a different definition of bootstrapping, but in my understanding it means "starting a business and getting to profitability without taking external money in the form of selling equity or taking on debt"[1]. Accelerators pretty much always take a small chunk of equity, and bank loans are debt (obviously). Crowd-funding in the Kickstarter sense, with "pre-order" sales of a thing, is bootstrapping, but crowd-funding in the seedrs sense with a crowd of people investing by-proxy isn't - it's just a fund raising in a different way. [1] Similar to http://en.wikipedia.org/wiki/Bootstrapping_(business)#Financial_Bootstrapping http://en.wikipedia.org/wiki/Bootstrapping_(business)#Financ...
- yoavush 13y agoyeah, meant in the kickstarter sense. Anyway, thanks for the comments and putting time into explaining. see you around and have a beautiful day.