All other resources, like money and people, can fluctuate up and down. But time only moves in one direction.
Most people still value money more than time and make decisions based on the present value of money vs. the future value of their money investment (ROI).
This is, not limited to, but quite prevalent with early-stage entrepreneurs who mistakenly equate bootstrapping to being cheap.
- Bootstrapping has nothing to do with being cheap. Bootstrapping is about being efficient with your resources. A bootstrapper’s primary objective is getting to customer revenue as quickly as possible. Speed of learning, not frugality, is their true unfair advantage. In other words, if the ROI is baked in, trade money for speed.
- Sweat equity is the most expensive type of equity and should be reserved for your unique contribution — something that cannot be easily replicated by others. This is your super-power or personal unique value proposition (UVP). Everything else can and should be delegated — provided the ROI is there.