After recent conversations with Y Combinator alumni and other promising entrepreneurs, I've heard that many of them have no plans to raise venture capital—ever. WHEREAS fundraising is often crucial, bootstrapping is an approach every entrepreneur should consider.

Contrary to the “move fast and break things” mantra that echoes through Silicon Valley, bootstrapping often means adopting a steady and deliberate approach. This allows for a deeper understanding of your market and more meaningful connections with early customers.

For example, instead of chasing rapid growth, Tuple focused on building a product that users would really love. Their strategy revolved around a relentless focus on user feedback and incremental improvements. By prioritizing the quality of split-screen functionality, a critical feature for developers, over rapidly expanding their feature set, they built a loyal user base that drove organic growth.

Related: What I wish I knew before starting my startup

Steer your ship

Bootstrapping isn't just about money; it's about preserving the purity of your vision. When you bootstrap, you retain full control over your company's direction, culture, and values. That autonomy can be invaluable, especially if your vision doesn't match typical investor expectations.

Keep in mind that maintaining control does not always mean rejecting all outside input. Mailchimp, which made its way to a $12 billion acquisition by Intuit, sought advice from outside experts. The difference was that the founders had the freedom to choose when and how to apply this advice.

Can your model feed itself?

The ideal bootstrap-friendly business generate income quickly and requires minimal upfront investment. This often leads bootstrapped startups to focus on solving immediate and painful problems for customers who are willing to pay for solutions.

Gumroad, a platform for creators to sell products directly to consumers, built its business model around instant monetization. Gumroad tied its success directly to its users by taking a small portion of each transaction.

Being bootstrap friendly often requires creativity in finding ways to generate early income. Pieter Levels, founder of Nomad List, built his company by creating numerous small products and services for digital nomads. This diversified approach allowed him to generate revenue streams that collectively funded the growth of his core platform.

Related: Bootstrapping vs. Seeking Venture Capital – How to Decide the Best Path for Your Business

Walking the line between brave and foolish

Bootstrapping often means betting on yourself—sometimes literally. She asks balancing the necessary risks and avoiding reckless gambling. This often involves personal sacrifice and a willingness to operate with a much thinner safety net than funded startups.

When Sara Blakely started Spanx, she kept her day job selling faxes while developing her product at night and on weekends. She invested her entire $5,000 savings and even signed her own patent to save on legal fees.

The key is to be realistic about your risk tolerance and financial situation. It's about finding creative ways to stretch your runway and validate your ideas before going all-in. This may mean starting as a side project or finding ways to generate additional income that aligns with your long-term goals.

Build big while starting small

One of the most widespread myths in the startup world is that some ideas require massive scale from day one, requiring significant upfront investment. However, numerous examples prove that it is possible to build a large and influential company from humble beginnings.

Shopify, which now powers over a million businesses, started as a simple online store for snowboarding gear. They set up the company initially, only seeking outside investment as they had a proven product and clear market demand.

This paradox is often resolved by focusing on a specific, underserved segment of your target market. By dominating this niche, you can build the resources and reputation needed to expand into adjacent markets or grow to serve larger customers.

Turn limitations into advantages

One of the most powerful aspects of bootstrapping is the way it is enforced creativity and efficiency. With limited resources, bootstrapped startups often find innovative solutions that end up becoming key competitive advantages.

Referring back to Basecamp's journey, their limited resources led them to focus on doing a few things exceptionally well rather than trying to match every feature of their competitors. This constraint-driven innovation resulted in a product known for its simplicity and ease of use—qualities that became key selling points.

Related: Starting a business? Before asking for VC money, Here's why Bootstrapping might be the best solution.

Building a team with more than money

One of the biggest challenges of bootstrap startups is attracting and retaining top talent without high salaries and extensive benefits packages. However, many bootstrapped companies have found innovative ways to build strong teams despite these limitations.

By openly sharing the company's revenue, salaries and capital allocation, Gumroad attracted talent who were aligned with their values ​​and excited by the opportunity to work in such an open environment.

Many high performers are motivated by factors beyond just pay. Autonomy, mastery, purpose, and work-life balance can be powerful draws, especially for those disenchanted with the high-pressure environments often found in heavily funded startups.

Defining success on your terms

The bootstrap route can lead to unexpected and often more favorable exit opportunities. When you bootstrap, you retain more capital and have more control over the timing and terms of any potential exit.

When Intuit bought Mailchimp for $12 billion, the founders owned 100% of the company, a feat unheard of among tech unicorns. Their bootstrap journey allowed them to grow the company at their own pace and exit on their own terms.

An “exit” does not necessarily mean a sale or going public. Success can be defined in many ways – building a profitable business that supports your desired lifestyle, creating a company that has a positive impact on the world, or, yes, eventually selling for a significant amount.