The web 2.0 movement has shown that it is a great time to start an online business with limited funding. As a number of startups have emerged some have received funding while a large number of others that have turned to 'bootstrapping' to keep their startup dreams alive. Bootstrapping in financial terms is the idea of starting a business with little or no money (outside funding). There is not a right or wrong approach however bootstrapping does allows a startup to maintain more control of their product or any eventual returns as the startup does not have to answer to a bank, VC or other investor.
Seth Godin, a bestselling author, entrepreneur and agent of change, has written several helpful and inspiring books including The Big Moo which I highlighted previously. The Bootstrapper's Bible, one of Seth's latest books, is focused on the concept of bootstrapping an idea he touched on briefly in Making Money On The Web. The Bootstrapper's Bible is currently available for free download. I would highly recommend taking a look at is as it has some helpful hints on that can be applied to startups and large corporations alike.
