Forums: Discussions for entrepreneurs and small business.

The Bootstrapping approach is the only way to go.

hi is the bootstrapping method really that good and pretty much the only way to go?

mma fanatic

http://www.hawaiiufc.com

hi is the bootstrapping method really that good and pretty much the only way to go?

mma fanatic

http://www.hawaiiufc.com

I prefer to bootstrap all of my business endeavors now. There were two times in the past I did not. I went into partnership with others who had the money. One of those times was great from a learning experience, and I made allot of money. The problem was the relationship with that partner was not conducive to a healthy life. Then there was a time when I and 3 partners bootstrapped a great business. We made it as a fund-raiser for elementary schools. The schools over it. We sold it to over 8 districts and two dioceses. The other partners wanted to get the money in to explode the business instead of following our original plan. There were numerous huge companies that were interested. We took the one that was closer to where we lived. I will not give his name, because he recently passed away and is well known. He put one of his own people into the company to manage it. They decided to move from our model and market. Instead of making a great, low cost fund raiser, that had numerous educational elements to it. They decided to make it a high end product, and spent over 40k in setting up that business without a single sale.

To this day I wonder if running it into the ground was the original plan. That maybe that individual wanted to take the loss. LOL

I feel safer, when I control the growth, expenses… At least until the company becomes profitable. Then it is better to sell and start again. LOL

thanks, Jaiart. Bootstrapping is my preferred method of developing a company. To each his own. Dream it, develop it, do it

Hi, am a home based business and choose to bootstrap using my services and independent contractors to do work I don't do at a profit of 10-20%.

Mark

I was just reading through this thread, and thought I would add my two cents.

Bootstrapping is generally the preferred method, and certainly, if you don't have skin in the game it's unlikely you'll be able to convince anyone else to put their money in.

That said, it's never a good idea to completely close yourself off to the multitude of options available.

ibovo is a unique community launching in 2009 that will bring together ideas with partners.  You'll find intelligent matching of ideas with individuals who possess the needed experience, capital resources and motivation to build a new venture.  Plus, ibovo will provide advanced tools to collaborate and interact with your new partners, whether they're around the corner or across the globe. 

http://www.ibovo.com

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