Blog post: activegrowth.c...
As an entrepreneur, I specialize in bootstrapping. Meaning: I build businesses from the ground up, with no outside funding and without going into debt.
The way to do this is to build something small and simple that makes some money, then spend that money to build something larger, make more money, etc. It's essentially the opposite of the typical Silicon Valley approach, where you try to build something huge that makes no money, hope to get millions in funding, keep making it larger (still losing money all the way) and hope to get bought up by Google or Amazon.
Needless to say, I think that's a stupid approach.
However, bootstrapping your business doesn't only apply to money. You shouldn't spend money you don't have. But neither should you spend time and resources you don't have. You need to consider the non-monetary costs of your decisions. Unless your business is already up, running and profitable, don't spend "cash" you don't have.
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11 сен 2024
