I don't agree with this because I don't think all bootstrapped businesses have to stay small. The advantage bootstrapping gives you is you can use revenue to find product/market fit, at which point you can start scaling. The problem many 'startups' make is they run out of money before getting to that point.
I think the OP was arguing against calling a bootstrapped business a "startup", and on that ground he has a point (at least according to PG's and Wikipedia's definition of a startup).
That is to say, a bootstrapped business can be a startup (if it gets to the point where it focuses on fast growth) but not necessarily (as in the case of businesses with gradual or no growth).
You may have missed mine. I'm saying that aside from investment, startups and bootstrapped have many similarities. Both are focused on growth, it's just that one is smarter about it (generally). Most of the startups the OP is referring to don't have a mission other than to get acquired before they run out of money. My preference would be to call these 'startups' burnouts instead, and reserve the name for the real businesses.
I completely agree with what you are saying about the "burnouts", but I think a bootstrapped business (unlike a startup) it's not necessarily focused on growth.
You could start a bootstrapped business and only grow to the point where is sustainable in the long term, and just provides you with a decent level of income so that you can work on something you like and under conditions that suit you.
I don't know. I guess I've just always viewed bootstrapping as choosing revenue for financing rather than investors. I don't think boostrapping is the same as what some like to call a'lifestyle business.'
My company is bootstrapped, but we're still very focused on growth.
I don't know. I guess I've just always viewed bootstrapping as choosing revenue for financing rather than investors. I don't think boostrapping is the same as what some like to call a'lifestyle business.'
Exactly.
My company is bootstrapped, but we're still very focused on growth.
Same here. We intend to build a billion dollar business, but we are (so far) bootstrapping. That doesn't, however, mean we'll never take outside money, but there's no need to right now. Once we prove the model and get some initial traction, it might make sense to do it just to fund expansion, but that's a decision for another day.
