Not all startup ideas work. In fact, most don’t. One of the more difficult things to do is to quickly determine if an idea isn’t going to work and to kill it. Almost always, entrepreneurs wait too long to admit failure and give up. In my post mortem on a failed product, I share a number of mistakes that I made. Of course, I waited at least six months too long to shut down the product.
Most information on bootstrapping and self-funding a startup revolves around capitalizing the business by buying equity (e.g. you and a cofounder each put in $5,000 to start it). I know one entrepreneur that insists on loaning his business money instead of buying equity in it (after an initial nominal amount).
One of the more popular questions I get is “How do you write a blog post everyday?” I think the “why” question is more interesting, but the “how” comes up more often.