Bootstrapping a startup is usually in the top 2 of any entrepreneur’s list of most stressful problems leading up to launch.
If you can resist the urge to spend money you don’t have or hold out on taking out loans for amounts you aren’t 100 percent sure you can pay back, then your startup is doomed from day one.
Pure and simple.
After all, as the saying goes “No money, no honey.” And the honey in this case is the cash that’s keeping the doors open, lights on, product development moving forward, and keeping the marketing plan in play.
Budget is one of a very few factors in your business that you can completely control day-in and day-out, contrary to what many a newbie startup owner might tell you. Lack of resolve and poor planning can quickly stifle growth, while cutting expenses wherever possible will keep you out of the red indefinitely – if you have a solid business plan.