StartUps: Do you prefer bootstrapping or raising funds?

Hi

I think the best way to start a business is bootstrapping. Raising funds can take some time and take away the focus from your idea and making a profit!
First, entrepreneurs should think of a simple innovative idea, startup, and work hard to make a profit. What do you think?

 

Well, in our case it was bootstrapping. No outer investments, we started from writing an app and selling it at some forums. Now, having a stable income, we're getting into new project which is also going to be fully self-sufficient. In my opinion, you should take funding in some rare cases.

 

Bootstrap baby, so much more fun.

 

Bootstrapping FTW , all the way .

 

Very true guys its more fun. Also you have freedom to experiment cool ideas. Guy Kawasaki says startups should plant many seeds and over time one will succeeded do you agree? Or should startups have one focus?[h=3]
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Bootstrap - to start .

Fund raising when you can start to grow like mushroom .

I enjoy the process more then the outcome .

maybe that why i find working whole day long more exciting then counting money .

 

If you have to much money to count you can send a few hundred grands my way . I can assure you that they'll be invested in good technology including mobile servers an satellite broadband

 

bootstrapping for sure

 

Bootstrap obviously to start with but, with it do expand and attract users towards your business and when you think a sizeable number than plan for fund raising because than you will have nos. to show and plan to execute.

 

You can raise money by either bootstrapping or by seeking a financial backer and or a business partner which will also allow you to share the workload of starting your business.

I prefer partnerships in general

 

I personally love bootstrapping out of pure principle...and it feels incredible if you bootstrap a business and it turns into a super success. With that said, for a larger venture or project where you need to hit the market hard and make a big splash (a business concept that can be replicated easily) then you will need to raise funds and put together a more explosive launch strategy which requires more capital...and risk

 

Wow- the way you broke it down was perfect. I totally agree!

 

No excuse not to bootstrap these days unless you're entering a market that is capital intensive (you need physical products that cost a lot).

Hosting is cheap. Most technology is open source. Boot strap for the win.

 

Compound your money.

Do something that makes $5,000 then do something that turns that $5,000 into $50,000. Then do something that turns that $50,000 into like $250,000 etc etc. The more money you have the more resistance you'll find you have. It's easier to triple $50,000 than it is $500,000. Skill, knowledge, sound money management etc all plays a role in your ability to progress forwards.

The 'something' is what you need to work out. Site flipping isn't a bad idea, to get to the first $50,000 after that I'd recommend you start creating some kind of product. I like software, if you play that right you'll easily get to $250,000. Then you'll need a strategy to get from $250,000 to $500,000. I suggest you sit down and type up a game plan, time frames etc.

If you DON'T plan, you're an idiot and your planning to fail.

 

yeah bootstrapping is the best way, that's how I like it