Why Bootstrapping Can Be Best

When starting up a new business, there can often be a temptation to head straight to investors with your idea at concept stage and hope for a good initial reaction that will then propel you into the entrepreneurial stratosphere. Yet, that very seldom happens. Instead, investors often take an would-be entrepreneur’s eye off the ball, getting them to alter their presentations or advising them to change direction in their marketing thought process. This is wasting precious time when you should be developing your product or idea into something meaningful and tangible and ultimately viable. Bootstrapping is a good way to go. If you spend time really researching, developing and building a great product, service, prototype, using your own hard-earned money, however little that might be in the first instance instead of chasing down the investor money before you even start, then you have a very different proposition to go to market with. You will also have a fully tested concept, hopefully an engaged and interested community looking to know more, and a proper plan as to how to execute your business once launched. Plus, by bootstrapping you will also have demonstrated your own commitment and resources in making your business happen - that sends a very different message to possible investors in the future.