What exactly does bootstrapping your startup mean?

For the uninitiated, a bootstrap startup basically means that you self-fund your business, i.e. using the existing resources and internal revenue to drive your business, instead of raising any external funds. Given the wide scale availability of angel investors and venture capitalists, it’s hard to resist the chance to build a steady business without accepting external funds.

In fact most startups today forget the importance and the advantages of starting out on a shoestring budget. At this point, I can almost feel the startup founders scoffing at the idea of starting out with a minimal budget, but hear me out. Granted, bootstrapping your startup isn’t exactly a bed of roses. It’s rather a...