There is a basic principle in start-ups that if you do not reach approximately 2% of the market that you can address within the first two years you will slide back down into the snake pit. Momentum is everything. The critical factor is when you decide to start the clock. I have written on several occasions about the benefits of bootstrapping, and one of the largest benefits is that it gives you the control of the moment on which you start the investment clock, and, perhaps more importantly, you can get all of your mistakes out of the way before you start that clock ticking.   more »