Bootstrapping Term

Perhaps the best known crowdfunding platform is Kickstarter. Here’s how they describe themselves:  “Kickstarter helps artists, musicians, filmmakers, designers, and other creators find the resources and support they need to make their ideas a reality. To date, tens of thousands of creative projects — big and small — have come to life with the support of the Kickstarter community.”

We think of Kickstarter as a bootstrapping platform because its rewards based crowdfunding system enables companies to get customers to pay them for products (and other rewards) well ahead of actually receiving the products. The cash comes in many months ahead of products being delivered. And in general getting customers to pay you earlier than they otherwise would is good bootstrapping practice.

Don Gooding

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