Bootstrap First, Raise Money Later Discussion
Sramana Mitra
Founder and CEO of One Million by the One Million (1Mby1M) Global Virtual Accelerator
I’m publishing this series to discuss the nuances of bootstrapped entrepreneurship. Please subscribe to my Best of Bootstrapping series and never miss an article.
Startup funding is a low probability game.
LESS than 1% GET funding.
Over 99% get rejected.
Entrepreneurs go to VCs like beggars.
Is there a better way?
You bet there is!
You CAN turn the odds in your favor.
Bootstrap First, Raise Money Later.
Bootstrap decisively and VCs WILL notice.
Fred Luddy did with ServiceNow.
Fred had 12 customers before raising funding.
Christian Chabot did with Tableau.
Christian had 200 customers before raising Series A from NEA.
Greg Gianforte did with RightNow.
Greg had $6M in revenue before raising $130M in Series A.
Amy Pressman and Borge Hald did with Medallia.
Amy & Borge bootstrapped to $30M in revenue before raising funding from Sequoia.
What has been your own experience with bootstrapping? Come discuss your situation, and what steps are best for you at our next Rendezvous Meetup.
Go to VCs like a King not like a Beggar.
VCs love to come to the rescue of victory.
Bootstrap to victory.
The VCs will come chasing you!
Photo credit: Levi Sanford/Flickr.com.
Chief Product Officer at Inventogo Corporation
5 å¹´Check out inventogo.com 5 years bootstrapping a small business Cloud ERP - it is totally cool and ready to scale
EQUITY TRADER
5 å¹´Thnxx??????
NatureTech ?? Biodiversity Conservation ?? Ecological Restoration ?? Nature-based Solutions
5 å¹´An advantage of bootstrapping is that resource constraints imposes the discipline of quickly getting a minimum viable product to market, getting customer feedback and iterating. Design thinking and lean startup are great models to look into to get your business to a point where potential investors will see value in funding you to scale.
E-commerce e outros home office
5 年Prezada! é com muita satisfa??o e orgulho que comemoramos 05 ANOS de existência da Controle Assessoria Empresarial! Certamente, o nosso sucesso deve-se aos nossos Clientes, Parceiros, Fornecedores e Colaboradores. Agradecemos a todos pela confian?a e trabalhamos constantemente na manuten??o de nossa filosofia de trabalho: “CONTROLE ASSESSORIA DE VALOR†Especializada em Ativo Patrimonial que atua em todo o Brasil. Servi?os de Levantamento de Ativos, Avalia??o de Empresas e Marcas, Avalia??o de Bens Urbanos e Rurais, Projetos de Investimento, Análise de Viabilidade Econ?mica de Projetos e em Recupera??es Judiciais, Assessoria Financeira em Controle Internos, Fluxo de Caixa Gerencial, Processamento Patrimonial, Determina??o de Vidas úteis e Deprecia??o de bens. Os Laudos Técnicos s?o produzidos por pessoal capacitado e de acordo com as normas da ABNT. Empresa certificada na norma ISO 9001:2015. Qualidade garantida em nossos servi?os Fa?a uma visita no site https://lnkd.in/dWHWv_Y e tenha mais informa??es sobre nós e estaremos atento a suas necessidades e aguardo seu retorno. Abra?os,
VP of Sales & Customer Success @ Banzai | BNZI
5 å¹´Thank you!! We are currently bootstrapping Banzai, great inspiration! Love these podcasts.