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The Tech Entrepreneur's Survival Guide: How to Bootstrap Your Startup, Lead Through Tough Times, and Cash In for Success by Bernd Schoner

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CHAPTER 5

Early Funding

Business? It’s quite simple. It’s other people’s money.

—ALEXANDRE DUMAS (1802–1870)

Even if you can afford to work without pay, inevitably you will reach a point when hard work in exchange for sweat equity is not sufficient to keep your company moving forward. You will need to find a source of money that allows you to operate until you either break even or transition toward a more scalable funding model such as venture capital. Which bootstrapping approach is best for you very much depends on the type of tech company you are building.

At ThingMagic we provided design services for cash. We had gotten to know a number ...

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