5 Reasons Bootstrapping Your Business is the Best Thing You Can Do

Let’s be honest, fundraising is a major chapter in every startup’s success story. It’s one of the most exciting, terrifying, and rewarding parts of starting a company. Having a stranger write you a check for six or seven figures not only validates your idea, but it validates yourself as an entrepreneur. Clearly, others believe in you enough to put their money where their mouth is. I myself have raised over $1 million for my startup, Buddytruk, as well have written several articles on how to fundraise for your business and how much to ask for. That said, there are several reasons why you should not fundraise when starting a business, and given today’s venture landscape, now may be a better time than ever to bootstrap your company to success. Here are five reasons you should pass on fundraising and investor meetings in 2016:

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Eight years ago Jason Wachob was physically crippled from a business venture that went bust.

“I flew 150,000 miles coach in a single year for my last start up company,” Jason said in a recent interview. “When you’re 6’7”, that’s torture.”

By the end of 2006, the former Columbia basketball standout’s business had tanked. He had nothing to show for it but two bulging disks in his lower back.

“It was excruciating pain. I literally couldn’t even walk a block,” said the New York City dweller. “I didn’t know what to do.”

Every doctor told Jason he needed surgery. “As an afterthought, the last guy said, ‘Oh, you might want to give yoga a try too.’” Jason had to laugh here. “So I started light yoga for 15 minutes in the morning and evening. Within six months, I was completely healed.”

After the yoga cure, Jason looked into sleep, nutrition and exercise for more healing. Then the MindBodyGreen concept came to Jason in an epiphany.

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When Chris Bergman entered Cincinnati-area startup accelerator The Brandery in 2011, he wasn’t sure exactly what the program could accomplish for his company.

“I was a skeptic. My hope was that if it taught me something about how to raise money, that would be good enough,” says Bergman, cofounder and CEO of ChoreMonster, which has developed an app to reward kids for helping out around the house.

Bergman is still reaping rewards, financial and otherwise, from his three-month stint with the accelerator. “I’ve had conversations with investors that have turned into capital, I’ve made invaluable networking connections and I’ve learned a lot about how I want to manage my company,” he says. “Our business wouldn’t exist today without The Brandery.”

Startup accelerator programs are popping up every day, available to a wider range of entrepreneurs than ever before. They’re no longer limited to Silicon Valley, and no longer just for tech companies; there are industry-focused programs centered on fashion, food and socially conscious endeavors as well.