Best of Bootstrapping: Bootstrap First, Raise Money Later Strategy

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

I wrote a book called Billion Dollar Unicorns a few years back. Writing this book took me through the extensive process of talking to entrepreneurs who have built tech companies with valuations above a billion dollars. While there is a tremendous amount of serendipity involved in any extraordinary success story, one recurring theme comes up in these case studies. I am particularly excited to share this nugget because it applies broadly to all classes of entrepreneurial ventures.

Bootstrap first, raise money later.

That’s what Fred Luddy did when he founded ServiceNow back in 2005. Leveraging his domain knowledge and expertise in IT ServiceDesk software, he rapidly acquired 12 customers before raising funding. Initially, he started charging $25 per seat and the 12 customers paid up. He raised $2.5 million in venture capital WITH 12 customers, and ample validation.

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Featured Videos

Thursday, October 19 – 622nd 1Mby1M Mentoring Roundtable for Entrepreneurs

Entrepreneurs are invited to the 622nd FREE online 1Mby1M Mentoring Roundtable on Thursday, October 19, 2023, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST.

If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.

You can learn more here and REGISTER TO PITCH OR ATTEND HERE. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!

Udemy Coupons for Tech Startup Courses – Don’t Miss Out

Our time-tested 1Mby1M methodology for building technology startups has been packaged into short courses on Udemy as a part of our aim to democratize entrepreneurship education at scale globally.

We are offering you up to 85% off of the following Udemy courses this month, spotlighting our most informative and inspirational case studies of noteworthy technology startups.

These coupons will expire on October 31, 2023, so be sure to enroll today!

Bootstrapping:

Bootstrap First, Raise Money Later with Sramana Mitra: TRY1MBY1MOCT2023BTS

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Video FAQs

Catching Up On Readings: Fintech 100

This report from CB Insights provides the annual list of the 100 most promising private fintech companies in the world. This year’s winners are working chiefly on A2A payments, spend management automation, and embedded finance among others. For this week’s posts, click on the paragraph links.

October 19 – 622nd 1Mby1M Roundtable for Entrepreneurs

Entrepreneurs are invited to the 622nd FREE online 1Mby1M Mentoring Roundtable on Thursday, October 19, 2023, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST.

If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.

You can learn more here and REGISTER TO PITCH OR ATTEND HERE. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!

621st 1Mby1M Roundtable Recording

In case you missed it, you can listen to the recording of this roundtable here:

Roundtable Recap: October 12 – Why Do VCs Reject Entrepreneurs?

During this week’s roundtable, we discussed why there is such a high rejection rate in the startup industry when it comes to venture financing. One of the entrepreneurs, for example, is doing a hybrid business that includes hardware and SaaS. This business is likely to scale less fast than the VC target. Others have TAM issues.

I discussed all this and more in today’s session.

You can listen to the recording of this roundtable here:

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621st 1Mby1M Roundtable for Entrepreneurs Starting NOW: Live Tweeting by @1Mby1M

Today’s 621st FREE online 1Mby1M Roundtable for Entrepreneurs is starting NOW, on Thursday, October 12, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup  All are welcome!