Bootstrap or raise decision memo
Founders often drift into bootstrapping because nobody would fund them, or into fundraising because everyone around them does, and both drifts lead to half-hearted versions of each. Writing a one-page memo on why this company should grow on customer revenue, what that rules out and what would make you reconsider gives you a decision you can point back to when an investor calls or growth feels slow.
First tasks
- Write down in three sentences why this company should not raise outside money
- List what bootstrapping rules out for the next two years
- Name the conditions that would make you reopen the funding question
- Review the memo with your co-founder or partner and both sign it