The first time I came across the term bootstrapping was through programming. Bootstrapping a computer program means to start a program in the most efficient way and with the least amount of resources needed for a specific task.
When developing software from this perspective, you have to keep all the parts modular and independent from each other. You have separate systems and processes each dedicated to a specific task. You differentiate between the logic flow of actions, the data and the display of information.
The same principles can be applied to your business and the process of starting it.
4 phases of a bootstrapped start-up
There are 4 common phases found in most boostrapped start-ups, covering the first 2-3 years of a business:
In a business context bootstrapping means to start and grow a business with the least amount of resources necessary to achieve the business goals.