According to Investopedia:
Bootstrap – A situation in which an entrepreneur starts a company with little capital. An individual is said to be boot strapping when he or she attempts to found and build a company from personal finances or from the operating revenues of the new company.
Investopedia Commentary – Compared to using venture capital, boot strapping can be beneficial as the entrepreneur is able to maintain control over all decisions. On the downside, however, this form of financing may place unnecessary financial risk on the entrepreneur. Furthermore, boot strapping may not provide enough investment for the company to become successful at a reasonable rate.
I Googled “Why Entrepreneurs Fail”
http://learn.trizle.com/posts/865-why-entrepreneurs-fail They can’t relate to customers so they can’t sell.
http://findarticles.com/p/articles/mi_m1154/is_v74/ai_4116367 They’re uncoachable, unwilling to be taught. They make the same stupid mistakes everybody’s already made.
http://andrewbode.wordpress.com/2007/04/28/why-entrepreneurs-fail/ Confusion in the order of importance between logic and passion.
http://urbanworldonline.com/6-reasons-why-entrepreneurs-fail/ No mentors, support groups…Going it alone. Won’t invest in their own learning.
Are you a bootstrapped entrepreneur? Will you admit to any of this? Do you want to fix it? Would doubling or tripling your sales in a year fix it? If your answers are, “Yes.”, “Yes.”, “Yes.”, “Yes.” Send your phone number via my email link at the top of the page. If any of the answers are, “No.” Good luck with that.