In the entrepreneurial start-up world, bootstrapping is building a start-up without external funding.
It connects strongly to the lean start-up method.
What is Bootstrap?
You have no funds & no customers: where can you start?
Let's be honest, it was extremely hard to recruit investments even before the latest recession .
If you don't show traction to potential investors, it's almost impossible to get them to write checks. If you don't have investment, how can you bring traction?
How Can You Succeed?
Chicken & Egg Problem
Focus on traction, get customers, without funding!
The way is through lean start-up method. In most start-ups you can bring your proposed value to your customers at (almost) zero cost.
From there on, you iterate your MVP until product-market fit. Then scale it, bringing more and more customers.
First financial objective, having a stream of revenue from you start-up. so you can quit your day job!
Solution: Bootstrap
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