The Joy of Bootstrapping
For me – and for the recovering High-FF going into business – the ultimate form of financing is self-financing. And this should involve my favourite word when it comes to entrepreneurialism: bootstrapping. The dictionary definition of bootstrapping is “by one’s own efforts”, which in practical terms means making our own seed capital go as far as possible for as long as possible.
This is good news as many High-FFs have tendencies towards financial phobia. We fear spending money because our concerns over the future outweigh the feelings of optimism required to go on a credit-fuelled spending spree. Most High-FFs are used to living within their means, which puts us at a tremendous advantage when it comes to starting our ...
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