How to Build a Bootstrapping Culture
(Inc) — Ask an MBA how to start a business, and they’ll likely tell you to craft a business plan, pitch it to investors, secure a healthy dose of initial funding and start cranking the PR engine. But the reality is that most entrepreneurs just use homegrown ideas to take their start-ups to the next level — without much help from the venture capital circuit.
Bootstrapping, or the art of building a business with little or no money, is the most common way to start a company. Most are launched with $10,000 or less, according to a Wells Fargo/Gallup study. And some, such as Apple and Dell, became industry juggernauts, dominating their sectors and reaping billions of dollars in revenue — with $1,000 or less to start off with.