Bootstrapping involves maximizing existing resources including personal finances and operating revenue with a hyper focus on securing customers and repeatable revenue before expending energy fundraising.
The key in this process is to encourage entrepreneurs to test their assumptions by selling to and securing customers that create revenue as quickly as possible. The sooner an entrepreneur is able to generate revenue the more likely they are to continue the long process of building a viable company. Taking action and start “doing” is the underlying foundation of the bootstrapping process.
Encouraging and driving entrepreneurs to be creative about how they secure the resources required to build their business is a powerful way to increase the number of successful new companies. By focusing on how little money a company requires to go to market while testing assumptions is the quickest way to build a viable business model.