What is the primary characteristic of bootstrapping?

Bootstrapping primarily refers to the practice of starting and growing a business without relying on any external funding. This approach emphasizes the use of personal savings, reinvested profits, and the gradual scaling of operations, allowing entrepreneurs to maintain greater control over their business and avoid debt or equity dilution. By building a business in this manner, founders can validate their ideas and ensure that their operations are sustainable before seeking additional resources or investors.

The characteristic of bootstrapping lies in its focus on resourcefulness and leveraging existing assets, making it an appealing choice for many entrepreneurs who prefer to navigate the early stages of their business independently. This method allows for a more cautious and self-sufficient approach to entrepreneurship.