Ryan Holmes, the co-founder of Hootsuite, a social media management platform, once said,
“When in doubt, bootstrap. Using your own personal resources is the easiest way to start a business. You don’t have to convince investors about the merits of your idea. You just have to convince yourself.” Much has been spoken about glory when it comes to startups that scale at a rapid pace and size with the help of fundraising and external capital. It is not overselling to say that this mechanism leads to massive acquisition of users and data, with hopes of making profits and unit-economics positivity at a later stage.
