Managing a startup is hard, and funding it can be even harder. Despite these challenges, there are a surprising number of startups that rake in enough cash to get off the ground without ever turning to venture capitalists or angel investors for seed funding and startup capital. In fact, only about 3% of investor capital goes toward businesses in the startup phase.
When you consider that over 500,000 new businesses are launched every month, you’ll see that only a tiny number of startups get outside financial support. The rest are putting up their own capital and bootstrapping their way through launch.
The odds of getting funding as you work on launching a new business are extremely slim, so if you’re completely dedicated to getting the ball rolling for your business, then you’ll need some careful strategizing and financial management skills. Bootstrapping a startup isn’t easy, but what’s more rewarding than knowing you launched and grew your business out of your own pocket, with few resources to start with aside from your own skills and sheer determination?
Not to mention the satisfaction of retaining 100% of your equity.
In this article, I’ll cover ten ways you can simplify the road to launching while bootstrapping a startup.