In the present day, plenty of people have brilliant ideas regarding startup, and hence desire to begin their own startups. But the mere desire is not enough. Proper planning is a primary requirement for beginners.So let us take a look at why funding can sometimes be a pain in your company’s life and why self-funding (bootstrapping) is the best.
You are self-efficient :-
The very first notable advantage of self-funding is the progress of the startup that occurs due to the owner’s ambitions and attempts to earn faster.
Saves time :-
A lot of time is saved as one does not have to spend hours in meeting and requesting investors, or in carrying out the formalities and procedures necessary for availing funds.
One does not have to answer to anyone :-
The best part, perhaps, is the fact that the owner does not have to provide any clarifications to anyone regarding the start-up policies which he adopts.
Your goals do not change :-
A normal entrepreneur may have simple goals regarding his startup, and be content with a certain level of profit that is enough to meet his requirements.
Play by your own rules :-
Whenever one begins a self-funded startup, he works with the motive to grow more and also learns to value money.
Bottom line :-
Thus, it is evident that one should avoid involving investors in the beginner’s level. Anyway, one may not always feel prepared to take up the entire starting of the startup all by himself.
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