By Sramana Mitra (Founder, One Million by One Million)
Because it’s often so difficult for entrepreneurs to obtain seed funding for their startups, bootstrapping is one of the best methods to self-fund their projects. If outside investment capital is for whatever reason undesirable or unobtainable, bootstrapping a product by offering a service is one of the best ways to go. This, by the way, remains a controversial point-of-view, and most industry observers will take the position that companies get distracted if they try to bootstrap a product with a service. At 1M/1M, we take a pragmatic and contrarian position, and back it up with numerous case studies. From where we sit, bootstrapping products with services is a tried and true method.