99% Startups Are Bootstrapped
The news coverage for VC funded companies is vastly out of proportion with the coverage of successful bootstrapped businesses. Business books (and advisors) tend to reflect this bias too. But less than 1% of businesses across the world receive funding. What if 99% of entrepreneurs are taking the wrong advice?
"Too many entrepreneurs are developing business plans with obtaining investment funding as a critical element. Many don’t realise there is another way. For the 1% that do get funded it’s a bumpy ride. VCs want fast growth and fast exit and often put extreme pressure on founders, employees and customers to achieve this. It’s time to celebrate and support the bootstrappers."
Sarah J Perry
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The BRAVE methodology for early stage and scale-up bootstrapped businesses has a conversational tone and straightforward approach make the book easy and enjoyable reading. Forget entrepreneurial masterclasses and read "BRAVE Bootstrapping" instead.
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Sarah Perry is Co-founder and former CEO of SnapComms
Determined to help organizations improve cut-through for employee communications, Sarah co-founded SnapComms in 2007. Within three years, SnapComms grew from zero to hero in the competitive sector of employee communication software. SnapComms remained bootstrapped and had grown to over 2m paid enterprise users in more than 75 countries when it was acquired by Everbridge Inc (NASDAQ: EVBG) in August 2020.
Most bootstrapped companies fly under the radar. They don’t get the media coverage that funded companies do. Less than 1% of businesses receive VC funding but that’s all we seem to hear about. VC funded companies drive growth at all costs, often at the cost of employees and customers, with a view to an exit within a few years. Bootstrapped businesses build sustainable companies that deliver long-term value to customers and employees, surely they are the ones that we should celebrate?
Sarah Perry wrote “Brave Bootstrapping” to support other bootstrapped technology businesses aiming to go global without VC funding.