Candace Nelson Instagram – Bootstrapping your business might be the only financing option available to you. But even when you have investors knocking down your door, bootstrapping can be a strategic choice!
Bootstrapping allows you to keep đź’Ż ownership of your company, meaning you retain all the decision making, as well as all the rewards.
If you are bootstrapping a business like I did for Sprinkles Cupckes, here are some tips:
👉🏻 Things will take twice as long and cost twice as much as you think they will – always model out your business conservatively!
👉🏻 You’ll have to get scrappy – Using your own money to fund the business means you’ll have to be creative about where to cut personal expenses
👉🏻 Not everyone will understand your sacrifices, and that’s okay!
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