Not long ago, a friend of mine told me about a young entrepreneur who was spending a lot of time looking for venture capital and start-up money for the app developed by him. I suggested that the entrepreneur should forget the financing and use his own money or borrow his friends or family. In the businesses I have created, I have always bootstrapped it, and my suggestion, if you are an entrepreneur, then it is that you think about doing the same thing.
Start with the most obvious reason not to waste their time in search of venture capital.
Regarding the reality that how will the 99 percent startup for the Vice Chancellor get money?
When I was developing my business, some people suggested that I look at venture capital money, but I did not really pay it too much because I was not ready to go through the practice, which That would be a waste of my time. I like to bootstrap it and start making money instead of trying to be 1 percent or less. I calculated my obstacles and was not worth less than 1 percent of the success and wasted valuable time.
I was not ready to give any equity share in my business.
I knew I would be successful in my companies. If you are an entrepreneur and you think otherwise or doubt yourself, then do one favor on yourself and get a job. But, let’s assume for a moment that I had decided to go on the VC instead. If I am funded, it would be necessary for me to leave a stake in my companies, perhaps even a controlled interest. I do not know about you, but my thoughts and solutions are mine, and I do not want to give up the ability to give anyone the decision, even if it means that there are millions of people in my businesses.
Bootstrapping taught me to be creative and innovative.
I’ve been through the experience of lean days, especially when we started flying, where I had to get overhead cost and payroll, and there was not much margin for error in the revenue side. There were times when I did not completely pull any salary. Actually, one of my fun moments is when I get a business at an adequate level because the CEO has to joke that the chief executive can finally pay. One of the biggest lessons in bootstrapping is that if you are committed to being successful at all costs in your business, then the pressure to earn money is pushing you – hard – one way to monetize your idea well, and Prioritize how you use the resources and resources you have.
I like to develop a start-up and increase scale on my timeline
If you receive venture capital (again, unlikely), then you will be pushed to expand the scale quickly. I am one of those entrepreneurs who enjoy developing business and doing something bigger than anything. I want to learn everything about what I have to do. More importantly, as an entrepreneur, Bootstrapping allowed me to examine ideas and pilot programs, to see what worked and did not do. When you receive VC money, you get very little space for experimentation because the pressure is to bring money and profit to the investor’s pocket and it means that on a large scale,
Venture Capital Firms are not all of which are cracked.
Years ago when I was thinking about investors – for about a minute – I came through an article from the Harvard Business Review, and it talked about the myths of venture capital firms. Some of the realities were that the entrepreneurs had to do their due diligence because all the VCs were not made equal. A VC’s selling point is that they can provide advice, expertise, and advice that they may need to take. not true. Another important myth was that the companies that had the VC money, had excellent financial returns. This was also not true, and in reality, VC companies weakened the market.
When I listen to the word of young entrepreneurs thinking about venture capital funding, it hurts me. Please, if you are reading it and it is you, then my advice is simple. Do not waste your time. Your time and energy are diving in your business better and are looking for ways and solutions to bring what’s in your market.