The $100 MBA Show MBA1300 Q&A Wednesday: What are the pros and cons of bootstrapping my business?
Go it alone, or get some help? Every entrepreneur has to ask this question, and the answer isn’t always obvious.
It’s Q&A Wednesday, and one listener is weighing the ups and downs of full independence. When you “bootstrap” your business (as we did), you have total freedom, and total control. No investors, no loans, nada. You answer to no one, and can take your business in any direction you wish.
You also accept all of the risk.
Is there a time when it’s best to get outside investment? We’ve found that for some businesses, the freedom is worth the risk. But for others, the loss of equity is well worth the stability that comes with external help.
Today, we’ll explain when it’s smartest to accept a helping hand, and when it’s best to go it alone. Then, you can make the best decision for yourself and your company. Click Play!
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