In this Startup Survival episode, we cover one of the most important parts of starting a business: funding. While there are many funding options available for entrepreneurs, I found that bootstrapping worked best for me and my company. 

I won’t sugarcoat it: starting a business with no outside funding is a humongous challenge and incredibly risky. However, I’m so proud that I made it work because it meant I was able to grow my company without having to answer to anyone else. I had the freedom and flexibility I needed to build at my own pace and to trust my own instincts. 

Funding shouldn’t prevent someone with an awesome idea from building their company. Keep listening to hear my tips and tricks for bootstrapping your business and to learn from the mistakes I’ve made.  

Episode Highlights:

01:45 The reality of bootstrapping is a lot riskier—but also a lot more rewarding. 

04:17 The key to success in bootstrapping is selling and using that money to fund the company. All startups need to sell, but bootstrapping inherently provides a different level of motivation. 

05:15 Invest in the foundation of the company right off the bat. I chose to invest in people before building cash reserves.

07:00 If I could do it all over again, I would have spent over a year or two building a really solid professional network. 

More about the show: ​​www.jackiehermes.com/podcast

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