Pallav Nadhani, Co-founder, FusionCharts, talks about the importance of bootstrapping and the lessons one can learn while bootstrapping.
He says a company can decide whether to bootstrap or not, based on their operational costs and the current stage of their venture. He suggests it's better for a technology-based startup to bootstrap. He also adds that bootstrapping is the best method of idea validation for a company.
The advantages of bootstrapping are as follows:
1. Allows you to work outside your comfort zone
2. Forces you to do things you might not generally do
3. Makes you persevere
4. An excellent method for idea validation
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