I need 3 paragraphs ( 5-6 sentences each paragraph) answer to the following discussion board question:
You’ve read the information on financing your venture and watching Susan Feldman discuss her venture. Based on this, why would you choose to bootstrap your new venture?
I also need a 1 paragraph (5-6 sentences) response to the following post:
Financing a business is usually one of the first decisions an entrepreneur needs to make. Many choose to “bootstrap” their business to start since it allows them to retain control of the company and avoids having to seek outside financing which can take valuable time and resources. In the video, Susan started her venture through self-funding or “bootstrapped’ her business venture for this reason. Plus, she didn’t know how big it would grow or how fast. After a few months her business grew quickly. It was even cash flow positive within the first few months. However, it was at that time Susan went out and got venture capital. She figured this was the best time since they were under resourced and needed to grow quickly, and even though they were cash flow positive, it wasn’t enough to support the businesses growing needs. They were even sought out by venture capitalist which gave them the rare opportunity to pick and choose.
As discussed, many times in the articles, there are several phases in the business life cycle. In any growing business they will need to decide when or if to take outside funding. That decision has a lot to do with the general direction of the business and the needs a specific time. It’s important to the entrepreneur to know those needs both long and short term to make the most education decision that does not have long term negative impacts on the company
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