Founder Stories: What they never told you about Bootstrapping
Bootstrapping — the romanticized idea of launching a business using only your savings, hard work, and a dream. As the founder of DigitSense and numerous other startups (some of which I’m shy to discuss), I’m here to share the harsh realities of bootstrapping as an entrepreneur.
It’s the underdog story everyone loves to tell. But let’s get real for a moment and dive into what bootstrapping truly entails, beyond the Instagram-worthy moments and startup success stories.
1. It’s a rollercoaster ride
When you hear bootstrapping success stories, they often gloss over the sleepless nights, the constant juggling of priorities, and the emotional rollercoaster that comes with it.
It’s not a linear journey.
One day you’re on top of the world with a breakthrough, and the next, you’re wondering if you’ll ever make it.
Having a 200 IQ doesn’t make you a successful founder.
Great ability in storytelling and risk management will make you a successful founder.
2. Sacrifice is your middle name
Bootstrapping demands sacrifices — personal, financial, and sometimes even social.
You might have to dip into your savings, skip vacations, or even live on a tight budget.
Forget the fancy office and gourmet coffee, you’ll be working from your garage or a makeshift home office.
But remember, these sacrifices are temporary. They’re investments in your future. Keep your eyes on the prize and know that every dollar saved now brings you closer to your goal.
3. DIY everything
When you’re bootstrapping, you become a jack-of-all-trades. Marketing, sales, customer service, product development — you’ll wear many hats, often simultaneously.
I’m a bootstrap founder myself, and yet when my relatives ask me about my job, I’d say: I clean toilets.
Pretty similar no? Being a founder is about doing it all, above and beyond. Don’t expect someone’s there to clean up your mess.
To make it easier for you to develop your prototype for investor pitches, I’ve created a templated e-book titled Product Design 101: Get Your Figma Prototype Ready for Investor Pitches in 10 Days. Use the code “IAMFOUNDER” to enjoy a 50% discount and start building your investor-worthy prototype today.
4. Revenue is king! No, profit and cash flow is king.
Without external funding, your business lives and dies by its cash flow. This means you need to be laser-focused on generating sales and keeping your cash flow positive.
The difference between VC invested startups and bootstrapped startups is that the earlier focus on revenue as the metric whilst the latter focus on profit as the metric.
You DO NOT have millions in your bank account as a buffer if your operational cost suddenly skyrockets. Be very tactical with both your revenue and cost.
5. It’s not about the money, it’s about your independence
You’ll have complete control over your business, without the pressure of external investors. Every success will be a testament to your hard work, determination, and vision.
Though, bootstrapping can only get you “this” far. The reason why investors exist is to accelerate your growth. Without investment, your venture growth can only reach a certain level, there’s always a limit to the speed of growth and size of your business.
I often remind founders about why they started the company.
Are you building something to change the world, do good for the society, become rich, or live the rich life you want?
Scaling is beautiful, but it also takes away a lot of freedom and independence in your life. Once you start having investors, you no longer have the freedom to shape the company the same way you want, scale it at a pace that you want, or build a product that you fantasize about.
Your role as a founder changes instantly. Everything you do has to be in favor of the company, your stakeholders, not yourself.
Summary
Bootstrapping is not for the faint of heart. It’s a journey filled with highs and lows, sacrifices, and hard-earned victories. Though for those who choose this path, the rewards are immense.
You’ll emerge stronger, wiser, and with a business that’s truly your own. So, if you’re ready to take the plunge, embrace the challenges, and keep pushing forward.
The world of bootstrapping awaits, and your dream is within reach.
My name is Moon, and I’m the Founder & CEO of DigitSense. I hope you enjoyed reading my article. Entrepreneurship is hard, but I’m here to share my lessons and learnings with you.
Enjoy this PLAYBOOK designed to help you launch products like rockets.
Until my next article, keep building and stay inspired.
