A founder explains why bootstrapping beats outside investment for online courses, coaching, and info products. The core argument: you can turn profitable much faster without investors, and keep all the cash flow once you do.
Yeah, so I've personally never taken out any debt or loans to start my business. I just bootstrapped it from the ground up. I just started getting clients and that funded my business, paid my salary and allowed me to hire more people. I don't think it's a bad thing to do it, but I've just never been trained to do that. I've been trained to bootstrap it and be a startup, right? To just make it work and get clients and get cash flow immediately to be able to scale. Taking outside money is a good strategy, but I typically see it in businesses that are like VC backed, like SaaS or you know, software or app development. You don't really see that in the industry that we're really playing in right now, which is like online courses, coaching masterminds and info products. Because really it's low cost to create a product. It's just spending time and energy creating the information and organizing it in a way and then packaging it up to where someone else can see the value in it and then want to buy it. But I don't think you need money in these types of businesses. In fact, it would probably actually, you know, not make you want to run it because these are cash flow businesses for profit businesses. So if you can bootstrap it, that's the better way to go.