Bootstrapping vs. Funding: Which is Better for Startups?

What are the main differences between bootstrapping and funding a startup?

Bootstrapping means starting a business with personal savings or revenue, while funding involves external investment.

What are the advantages of bootstrapping?

Bootstrapping allows for full control over the business, no debt, and a focus on sustainable growth.

Are there any downsides to bootstrapping?

Yes, it can limit growth potential and may require longer to achieve profitability compared to funded startups.

When should a startup consider seeking funding?

A startup should consider funding when it needs to scale quickly, enter new markets, or develop products faster.

Can you give examples of successful bootstrapped companies?

Sure! Companies like Mailchimp and Basecamp started as bootstrapped businesses and achieved great success.