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Greg Gianfortes Bootstrapping Principles

1. Bootstrapping ensures that you build your business on a legitimate, real-world value proposition. When youre bootstrapping, youre forced to deal with customers and to fulfill their needs from Day One. If you have a lot of external funding, on the other hand, you can be......

Full article >>> ternal funding, on the other hand, you cant start your business until everyone else tells you its OK. Venture capital firms might take up to a year or more to decide on whether to invest. They might want a 200-page business plan. Their funding requirements might force you to spend up to $50,000 in professional fees. Venture-funded entrepreneurs spend an inordinate amount of time trying to find sou......

Full article >>> and long-term success.

8. Bootstrappers wind up owning much, if not all, of what they create. This is a huge consideration. When bootstrappers succeed, they get to keep their winnings. Some can even pass them along to their children. In a VC-backed company, on the other hand, you have to have to achieve a tremendous amount of growth to profit personallysince you have to fulfill your inves......

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Source:wistechnology.com By Greg Gianforte 10/31/05


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