3 Videos You Need to See Before Bootstrapping
Starting a business on the cheap requires some serious creativity--after all, the money has to come from somewhere.
So where do you begin?
Try these three videos. Here, experts from around the web explain all you need to know about hefting your business up by its--you guessed it--bootstraps.
There are many reasons entrepreneurs choose to bootstrap their early-stage business. Some believe it will give them greater control over their company in the long term. Others may believe, as famed entrepreneur Mark Cuban succintly noted last month, that: "Only morons start a business on a loan."
Tristan Langely, a venture partner at Sequoia Capital, explains some of the other perks of bootstrapping in this video from a panel discussion at Microsoft's Building One conference in April.
Dealing with money from friends and family.
Friends and family members can be an excellent source of start-up cash. Babette Pepaj, founder and CEO of the recipe site Bake Space, shares her tips for pitching your business plan to close-to-home investors.
And avoid the politics.
Of course, inviting friends and family members into your business can also backfire. Inc. editor Rob Kurtz and reporter Max Chafkin discuss what may go wrong when you secure capital from your nearest and dearest--and how you can protect your business.