Reboot

Chapter 12The money question

Whenever I'm out and about, I always look at the stores I walk past and feel so surprised and impressed by how many people have started businesses on their own. Dry cleaners, convenience stores, pharmacies, boutiques — it's really extraordinary. And they are important to the fabric of our communities. I was recently in my hometown for Christmas and bumped into one of the ladies I used to buy snacks from after school. I say snacks because other kids bought lollies. I used to buy a fresh bread roll and antipasti. She still remembered me and I still remembered her — Norma. Her face was as much a part of my school years as that of any teacher or friend, and I am so grateful to have that kind of history in my life.

However, you don't often read about these kinds of businesses. Newspapers always tell the sexy stories of businesses that are trying to be unicorns (billion-dollar startups). But it's not necessary to aim for this if it's not what you want. You can have a really successful business and a great life without pursuing that path.

In 2011 we were at a stage in the company where we were growing fast, and we were profitable, but, given the opportunity, we wanted to grow much more quickly. Companies in this kind of situation generally have two options:

1. to bootstrap and try to get by on just what they make, or
2. to raise funds.

But first, what's Bootstrapping? It's getting yourself into (or out of) a situation using only the resources you already have. ...