Take a good healthy business, with good growth potential, defensible, funding itself from initial sales, or consulting, or maybe just squeezing founders’ assets and combining that with hard work.
Let’s just say this business doesn’t need outside investment to grow. Or maybe its owners don’t want more owners (as in bosses, because investors are, one way or another, bosses).
"But that’s just a lifestyle business," the professor — or consultant, or business journalist — says, often with a slight hint of a sneer. It happens a lot. Business schools teach entrepreneurship as new business, high growth, professional investment (aka venture capital) and exit strategies. Many opinion leaders, consultants, and journalists associate entrepreneurship with the process of developing a business plan, pitching to investors, and working with the investment offering.
My problem with that bias is that the healthy successful bootstrapped business is one of the best options there is, when it works. Don’t sneer at it. Let’s give this option its due.