The odds of raising venture capital for a startup are low, but there are a few requirements for bootstrapping success, according to this entrepreneur advice.
Dreams of starting your own business are often filled with fantasies of coming up with a great idea, and venture capital firms fighting to fund it for you.
But as Bill Reichert of Garage Technology Ventures puts it: “The odds of raising venture capital are equal to the odds of getting struck by lightning while standing on the bottom of a swimming pool on a sunny day.”
Nearly every company has a bit of bootstrap in its past. Gawker, TechCrunch, GoPro and Github all found success as entirely bootstrapped companies before accepting a dollar of outside funding. The decision to go long on bootstrapping and create a self-funding business doesn’t garner as many headlines as millions being sunk into a plucky startup, but the rewards can be both immediate and lasting.
Is bootstrapping right for you? Here are five questions to consider:
To read the full article, click on the title or image.
Get your Free Business Plan Template here: http://bit.ly/1aKy7km