This is a guest post by Iqbal Gandham (@IqbalGandham), a serial Entrepreneur, with two out of his last three companies having been listed on various exchanges. Currently he splits his time between his pet project Addpiks, due diligence for investors and mentoring the odd startup.
What do the Tooth Fairy, Santa Claus and Bootstrapping have in common? We are all told they are real, but with experience, we learn they are really figments of our imagination, and the sooner we accept reality the better prepared for the real world we might be, and that is the purpose of this article: a little reality check for 2011.
For the sake of clarity, the Tooth Fairy I am referring to is the one who was supposed to turn up when my molars fell out, and Santa, well the guy who was to tumble down my chimney a couple of weeks ago and leave an iPad, as opposed to the fat red guy or St. Nicholas.
Which brings me to Bootstrapping, again to avoid a flame war, I refer to the Wikipedia definition:
“Startups that bootstrap their business fund development of their company through internal cash flow and are cautious with their expenses”
Of course you’re not reading this for a discourse on Tooth Fairies and Santa, at least I hope not, so let’s bench those two for another post, and look at bootstrapping in more detail, and see if there is any truth behind the claims.