Episode 35: Bootstrapping vs Venture Capitalism
If you’ve ever wondered how Lynn and Amanda started their businesses, then this is your episode. Today we weigh the pros and cons of bootstrapping versus going the venture capitalist route when funding your business.
Both approaches have their merits and trade-offs, and the choice between bootstrapping and venture capital funding depends on various factors such as the business model, growth potential, founder’s goals, available resources … and maybe the control issues of the CEOs.
Tune in as we take on business funding on The Pursuit of Badasserie: The Podcast.
In this episode, we discuss:
- What is bootstrapping?
- What are the differences and advantages of both?
- The control factor
- Fundamentals when starting a business
- Given or earned
- Using someone else’s money to leverage opportunities
- The tools you learn by bootstrapping
- Systems and structures
- Personal attachment
- How we use other people’s money
- Personal investment, financial and mental
- Grit and resilience
- Working on the business vs in the business
- Getting stuck and getting vulnerable
- Burning through the money
- Most businesses are sold on processes and systems, not products
- The unicorn thing
- Shark Tank
- Putting in the work
- Learning from both
- What we can learn from bootstrapping and venture capitalism
- Overcoming money issues
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