Answer to Question #254516 in Economics for Neha

Question

Many of the successful companies that we see today had their humble beginnings as a bootstrapped enterprise. Examples of these include: Dell Computers (DELL), Facebook Inc. (FB), Apple Inc. (AAPL), Clorox Co. (CLX), Coca Cola Co. (KO), etc.” If they can do, so can you. Identify the different types of bootstrapping strategies/ideas that an entrepreneur can map? 

Answer 1

Bootstrapping refers to building a business out of very little or virtually nothing. Bootstrappers rely on personal income and savings, 'sweat equity', lowest possible operating costs, fast inventory turnaround, and sometimes a cash-only approach to selling.