As an entrepreneur, it is common to hear the word “bootstrapping” over and over again. While you may have a basic idea of what this means, do you truly understand the term?
Here is the definition of bootstrapping, courtesy of Investopedia:
“A situation in which an entrepreneur starts a company with little capital. An individual is said to be bootstrapping when he or she attempts to found and build a company from personal finances or from the operating revenues of the new company. “
Rather than turn to outside funding, such as venture capital, you pull from personal resources to get up and running. Some may see this as a risk, but don’t make a final determination until you consider the top benefits of bootstrapping:
