Believe it or not, the term “bootstrap” refers to “pulling oneself by one’s bootstraps”. In a business context, bootstrap means to use your own financial resources to start or operate your business from it’s operating revenue, therefore, providing for yourself. Although this form of financing may be risky for the entrepreneur, it puts them in control of their own finances.
For example…
Let’s say your coffee addict friend decided he wanted to start his own boutique roast, for commercialisation purposes. If he already had sufficient funds to buy the necessary equipment, hire the right people and pay for the rent of his warehouse, without any loans or venture capital, he would be known as a bootstrapper.
