James Laughlin breaks down bootstrapping versus outside investment. Own 100% and you keep all $1 million from a sale. But investors add accountability that pushes you harder, though they also demand more risk and time.
The idea of bootstrapping is that you don't take on external capital. And I'd say that's extremely advisable for certain companies, because you can control your own destiny entirely. And of course, in certain cases, if you bring on capital, it raises the bar of what you need to achieve before it could be really meaningful for yourself. Where if you bootstrap and you own a company 100% and you sell it for a million dollars. You got a million dollars. Right. If you take on a million dollars, you've probably attracted people's investment on the basis that you're going to make it into a lot more than dollars. And that requires extra risk, extra time, extra hard work, all sorts of things. If I was to make a case for not bootstrapping, it wouldn't be about the capital. It would be about the accountability and the way that it can level you up.
