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What is the definition of bootstrapping in the context of entrepreneurship?
What is the definition of bootstrapping in the context of entrepreneurship?
- A situation where a company is started with little capital and without relying on outside investments (correct)
- A situation where a company is started with no capital at all
- A situation where a company is started with significant outside investment
- A situation where a company is started with a large amount of personal savings
Which of the following best describes the role of outside investments in bootstrapping?
Which of the following best describes the role of outside investments in bootstrapping?
- They are essential for a company to get off the ground
- They are only helpful in certain industries
- They are always the preferred method of financing for entrepreneurs
- They are not necessary for a company to succeed (correct)
What is the main advantage of bootstrapping for entrepreneurs?
What is the main advantage of bootstrapping for entrepreneurs?
- They are able to launch the company with more capital
- They have more control over the company's direction and decision-making (correct)
- They can quickly scale the company with outside investment
- They have access to more resources and expertise
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