Starting a business from scratch is not easy, and one of the serious challenges is to secure funding. Although many look for angel/venture investors or loans, bootstrapping - funding your startup with personal savings and revenue - remains a popular yet challenging option.
Bootstrapping allows you to maintain full control and ownership of your company, but it also comes with significant risks and can limit your growth potential. For many, the question remains: can bootstrapping really lead to a sustainable business?
What are the biggest challenges when bootstrapping a startup? What are some common mistakes to avoid? What creative financing options are available to bootstrapped startups beyond just personal savings?