Laura Roeder writes about Zirtual’s demise. Some key quotes from Laura’s point about choosing bootstrapping over fundraising as a business philosophy:
1) “Playing with the levers of how much profit my company generates feels much more in my control than the levers of trying to get funding from others.”
2) “I can imagine the pain of admitting failure to someone that you previously spent all of your energy trying to convince of your success.”
3) “I’m happy to be doing business “the old fashioned way” — where unless your customers confirm your value in the form of real dollars, you don’t make it.”
In a world where glamour and novelty dictate what most people pursue, including in the (supposedly) self-reliant path of entrepreneurship, bootstrapping may be the ultimate act of guts and independent thinking in business.