Thinking up a business idea and launching it is pretty easy, if you ask me. Running the business and growing it is a whole different story. It is where almost all businesses fail at.
I’m very much in favour of bootstrapping and I discourage everyone who wants to start a business by borrowing. However, we must realise that growing a business with no money is very hard and nearly impossible. When you do not have money to spend on your business, you end up being the chief employee – you do all the work. This leaves you little to no time for doing the more important stuff like thinking up (and implementing) new strategies, marketing, etc.
Businesses that are trying to grow with little or no money face a very steep challenge and, if not careful, may end up always being on the chase for a big break (a well paying client/deal) that will enable the business to normalise its activities. I consider such businesses to be operating more on luck than anything else. However, I think every entrepreneur worth his salt has passed through something similar.
Unless you just want to learn how to operate under extreme pressure, find a way to get some money to get your business up and running. Debt is bad, but it may be a necessary evil.
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