Why Bootstrapping Is No Longer a Dirty Word in 2023 | Summary and Q&A

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September 25, 2023
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TechCrunch
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Why Bootstrapping Is No Longer a Dirty Word in 2023

TL;DR

Startups are realizing the benefits of bootstrapping and taking control of their funding, focusing on long-term success and customer value.

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Questions & Answers

Q: Why is bootstrapping no longer a dirty word?

Bootstrapping is now seen as a viable and strategic approach to funding, as it allows startups to maintain control and focus on long-term success.

Q: How do you approach family and friends for investment in your company?

When approaching family and friends, explain your business, the problem you're solving, and the potential for returns or dividends. Be clear about the risks involved and set expectations from the start.

Q: Is it better to bootstrap in a specific city?

It's more about the lifestyle and cost of living than the city itself. Lowering living expenses and being part of a supportive startup community can be beneficial.

Q: What are the advantages and disadvantages of nearshoring?

Nearshoring can be a cost-effective way to hire talent, especially for remote-first companies. However, cultural alignment and communication may require extra attention.

Summary & Key Takeaways

  • Bootstrapping doesn't necessarily mean no funding; it means taking a long-term approach to capital allocation and being in control of the funding journey.

  • Startups can operate profitably for years before taking on funding, allowing them to focus on building the best products and aligning incentives with customers.

  • Bootstrapping provides options and allows startups to preserve optionality, making strategic decisions based on long-term goals.

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