3 Big Reasons to Bootstrap Your Business
3. You don't own your company until the first dollar of profitability.</b></h2>
The most important thing bootstrapping taught me is that if I can't make payroll in six to 12 months, I don't own my company. I'm going to get crammed down and potentially kicked out, and there's nothing I can do about it. When you're profitable, you don't have to raise money. That's when you own your company. It's not a percentage. It's when you're not beholden to someone else for capital. That's a lesson also born of living through two downturns of the internet — and it's why I focus so much on profitability.</p>
Bootstrapping makes you appreciate your business more because you have so much personally invested. It creates a culture where exceptional performance becomes the norm and team members are fully accountable to each other to meet this goal. Lean times may be rough, but it will make each success that much more rewarding.</p>
Published at Wed, 01 Nov 2017 16:30:00 +0000
