From the course: Foundations of Raising Capital
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The pros and cons of bootstrapping
From the course: Foundations of Raising Capital
The pros and cons of bootstrapping
- I've been building my own companies now for the past eight years, and for the past five years, I haven't taken a dime of investor money. Building a company without outside investment is often referred to as bootstrapping the company. The term bootstrapping comes from an old phrase, pick yourself up by the bootstraps. It means that you're doing a difficult or near impossible task without any outside help. Bootstrapping is becoming more and more popular with entrepreneurs because of some of the positive trade offs that it offers. But like any trade off, there are some downsides to bootstrapping too. One of the biggest reasons entrepreneurs bootstrap a company is to maintain control of the company. When you start selling ownership in your company to outside investors, you give up some level of authority in decision making too. Investors will often take board seats, and major company decisions often need to be made or…
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