How patience can pay off at the startup stage

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Patience isn’t easy for many entrepreneurs, whose vision and work ethic can make them overly anxious to create the Next Big Thing before someone else does. Yet when it comes to funding your company, moving to court venture capital too soon can backfire. When your company grows faster than the business model that supports it, the result is often failure. I explore these ideas this week on in my column “The 3 Biggest Benefits of Bootstrapping Your Company." You’ll learn about ways that Utah’s tech scene has an edge over Silicon Valley, and discover how Pluralsight’s patience paid off with key acquisitions after 9 years of self-funding. The post also shares 3 key reasons why entrepreneurs should consider bootstrapping to stay focused and pave the way to future growth:
  • Patience pays off—making sure that your business becomes fully developed and profitable through bootstrapping puts you in a better position to seek outside funds down the road.
  • You’re forced to get lean and focused—with no option but to succeed on your own steam, you become very efficient at using your resources.
  • You have more leverage and control—founders increase their chances of long-term success and autonomy in later funding rounds through restraint and discipline early on.
While the right outside investments in your company can undoubtedly help your business, timing is everything. Showing initial patience in fundraising forces you to get things right from the start, and can free you to focus on building a successful business. Read the full post here.

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Aaron Skonnard

Aaron Skonnard is the CEO of Pluralsight (NASDAQ: PS), a fast-growing enterprise technology learning platform. Aaron cofounded Pluralsight in 2004 and has since grown the company to more than 1,000 employees and 1,500 expert authors. As CEO, Aaron focuses on business strategy, future direction, product development and strategic partnerships. On a day-to-day basis, he works closely with the entire executive team in different capacities, including recruiting, brand management, marketing, sales, feature planning and content acquisition.