In this weekly update, we make a passionate argument on why you should consider bootstrapping your business instead of raising money from investors and venture capital.
Staying True to Our Vision
Helcim was self-funded. We never raised debt, venture capital, or outside investments. Like all new businesses, our road to profitability was filled with challenges and required many course corrections. We had to prove to the market that we could create a service that brought value to merchants, and when we figured out how to do that we were compensated for it.
We learned to be better at business – how to keep costs low, how to get a return from our advertising, how to build things ourselves, and how to keep our paying customers happy.
Fast-forward 11 years and Helcim is now a profitable and self-sustaining enterprise. We only answer to our customers – they are the ones that pay our bills and let us grow. By bootstrapping from the start and working extra hard, we built a business with a strong foundation. We don’t care about investor returns, growth expectations, and exit strategies.
Our entire focus is on developing new features that help our merchants run their business. Not having outside investors lets us stay true to our vision without compromise.
Make no mistake; bootstrapping your business will be harder – but in the end, I strongly believe it will make you a tougher, better, and smarter business person.