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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