People (P) often ask me “Why haven’t you raised capital and gone big?”
And I say “I like my freedom, and it tastes like bootstrapped.”
Okay. I don’t say the second part of that sentence. But the first part is what it’s all about.
P: “What freedom would you lose by raising from VCs?”
I: “Sometimes I like to wake up at 11am.”
P: “Yeah well you could do that.”
I: “I don’t have a growth target for the month.”
P: “VCs won’t mind in the early stages right?”
I: “I don’t care about being worth a billion dollars.”
I: “I am happy working 8 hours per week and making $20k per month.”
“I enjoy the choice of being able to start a new business in parallel if it’s interesting to me.”
"I love being accountable only to my customers and myself."
“I enjoy the option to stop anytime I want. I only work because I want to and like to.”
“I enjoy prioritising my happiness and freedom over my company’s growth.”
Tech Twitter is often up in arms about Bootstrapped v/s Venture Capital.
There is no right answer. Yet all answers are correct.
It depends on what you want.
The idea you choose, the market you pick, the way you plan to execute - whether your business needs VC money can be pre-determined.
Which means it is a choice.
My choice is bootstrapped. My stakeholders are - my customers, and myself.
What’s your choice going to be?