Bootstrapping vs. Funding: What's the Best Approach to Start and Grow Your Business?

[HK World]

What's the best approach to start your business: bootstrapping or funding?

Let's discuss the advantages and disadvantages of bootstrapping (starting and growing a business with your own funds) versus seeking external funding (e.g., investors, loans).

Share your thoughts, experiences, and advice for aspiring entrepreneurs.

 

[Good-Person]

What's the best approach to start your business: bootstrapping or funding?

Let's discuss the advantages and disadvantages of bootstrapping (starting and growing a business with your own funds) versus seeking external funding (e.g., investors, loans).

Share your thoughts, experiences, and advice for aspiring entrepreneurs.

Both of these approaches are good. However, I would prefer bootstrapping for sure. This is because using someone's else's money means that you tend to take responsibility and this is something many people would avoid until or unless thy are sure that they may make a good sum of money and their business would surely gain success.

 

[Kane]

Starting a business with your own funds is the best way to start a business, however, a lot of people cannot use this method because they do not have enough savings. Therefore, they will have to seek funds. They can seek funds through variety of ways, such as crowdfunding, bank loan, selling assets, burrowing from friends and family etc.

 

[Emmy]

Starting business with your own fund can be very challenging because you will have personal expenses to cater and this eats up the profit, but it is a better way compared to external funding wherein you will need to use part or whole profit to return loans.

 

[Frank]

What's the best approach to start your business: bootstrapping or funding?

Let's discuss the advantages and disadvantages of bootstrapping (starting and growing a business with your own funds) versus seeking external funding (e.g., investors, loans).

Share your thoughts, experiences, and advice for aspiring entrepreneurs.

I am of a strong opinion that starting a business with my own funds is a better strategy especially when it is a business that I am going to grow for the long-term. When you build a business using your funds, you can find out what works for you at your own pace.

 

[Good-Person]

I am of a strong opinion that starting a business with my own funds is a better strategy especially when it is a business that I am going to grow for the long-term. When you build a business using your funds, you can find out what works for you at your own pace.

Bootstrapping has always been a traditional way of financing a business. However, raising funds have also proved to be a new trend. This trend gained much momentum when many crowdfunding opportunities became mainstream. This depends on the tastes of the individual. Many people prefer bootstrapping all the time.

 

[Heatman]

If you have the money to fund and finance starting your own business, it is always going to be better because everything about the management of the business is always going to be determined by your decision-making unlike what you are going to face when you are trying to get money from crowd funding and some other stakeholders who want to invest in your business to see it become successful.

 

[Ja sa bong]

I will not start my business with another person's money or crowd funding generated money or loan money. If I don't have the capital needed to start the business of my choice, I will wait it out with the business plan until I have the money.

 

[Frank]

I will not start my business with another person's money or crowd funding generated money or loan money. If I don't have the capital needed to start the business of my choice, I will wait it out with the business plan until I have the money.

While I agree with you that it is always best to start a business with your personal funds, I don't think that it is a wise decision to wait for too long before starting that particular business that you want to start. The truth is that there are times that starting now will be the best decision.

 

[Ja sa bong]

While I agree with you that it is always best to start a business with your personal funds, I don't think that it is a wise decision to wait for too long before starting that particular business that you want to start. The truth is that there are times that starting now will be the best decision.

If I have a plan to to start any business, I will have it on the plan too how to raise funds for starting the business too. It won't have to take forever before I can raise the money but it doesn't include getting a loan.

 

[linux.poet]

I think in some instances, crowdfunding can be an idea to ensure that your business idea is sound. You don’t want to bootstrap a bad business idea that is going nowhere for months or years. Doing the work of building a crowdfunding campaign and promoting it will ensure that you have customers and a market.

For low-cost businesses like forums and blogs, however, this is unnecessary and bootstrapping is the best.

 

[Good-Person]

If I have a plan to to start any business, I will have it on the plan too how to raise funds for starting the business too. It won't have to take forever before I can raise the money but it doesn't include getting a loan.

I would not recommend getting a loan if you do not have enough experience when it comes to conducting a business. This is why I prefer bootstrapping, as this allow me to conduct business with a peace of mind. The fact remains that many people prefer crowdfunding, but it also carries its own risk.

 

[Ja sa bong]

I would not recommend getting a loan if you do not have enough experience when it comes to conducting a business. This is why I prefer bootstrapping, as this allow me to conduct business with a peace of mind. The fact remains that many people prefer crowdfunding, but it also carries its own risk.

Loans looks like a help in the beginning when you received it to start your business because the money was dearly needed by that time. It's when you want to start repaying the loan but your business haven't been stable, you would see how bad loans can be for business start ups.

 

[Heatman]

While I agree with you that it is always best to start a business with your personal funds, I don't think that it is a wise decision to wait for too long before starting that particular business that you want to start. The truth is that there are times that starting now will be the best decision.

I would only advise anyone to apply for bank loan to start his business when the person have a very good plan on how to pay back the money when it is due because that is the most difficult aspect of managing loans. If you are not careful at that stage, it is something that is capable of pulling even your business down because there is a point it's going to reach the bank is going to even shutdown your business to recover their money.

 

[Sextafeng23]

I prefer to start my business with personal funds. It will help me to be determined and setting goals for the protection of the business.

 

[Heatman]

I prefer to start my business with personal funds. It will help me to be determined and setting goals for the protection of the business.

When your own personal money is on the line with a business that you have started with it, you will definitely do anything possible to see the business become a successfully project. You already know how difficult it is to save money and start a business with it. It's not something you're going to allow waste away.