--- title: Building a business without external funding description: Mattias talks about pros and cons of bootstrapping and why he decided to build iGoMoon without funding. A lot of sacrifice but really owning your company image: https://www.mattiasgronborg.com/hubfs/MSUJ053--Thumbnail-Blog.jpg --- [![](https://www.mattiasgronborg.com/hubfs/mattiasgronborg_logo-1.svg)](https://www.mattiasgronborg.com/) [![](https://www.mattiasgronborg.com/hubfs/mattiasgronborg_logo-1.svg)](https://www.mattiasgronborg.com/) [Home](https://www.mattiasgronborg.com) [Blog](https://www.mattiasgronborg.com/blog) [About](https://www.mattiasgronborg.com/about) [Contact](https://www.mattiasgronborg.com/contact) # Building a business without external funding By [Svea Landschoof](https://www.mattiasgronborg.com/blog/author/svea) 2021.06.23 [Back to listing](https://www.mattiasgronborg.com/blog) In this episode, Mattias explains the principle of bootstrapping a company and talks about why he decided to bootstrap iGoMoon - without any external help from investors or alike. ## Defining bootstrapping For Mattias, bootstrapping means building a company from nothing except personal savings, 24/7 grind and hustle, and maybe some moments of serendipity here and there. The cash basically comes from the first sales and there is no external money involved in the company. He adds that it heavily depends on the type of company you're trying to build when it comes to deciding whether bootstrapping is an option or not. A SaaS company selling software for instance is an example that might be really hard to build without fundings -unless you have a significant amount of money on your personal bank account to start with. A kind of business that is easier to bootstrap and grow organically is one like iGoMoon: a company selling services and partnering with HubSpot. The big advantage of bootstrapping is that you end up really owning your company (or the majority of it). On the other hand, the process of growing your business is a lot slower, since there is not as much cash flow in the early stages. ## Why bootstrapping? The reasons why Mattias bootstrapped iGoMoon are manifold. First of all, there weren't many options to start with, since Mattias did not have a lot of money of his own and a bootstrapping service company is usually not very attractive for investors. He also wanted to really own his business and fulfill his lifelong dream of building a company that would grow over 10 Mio Euro revenue. When potentially reaching this goal of 10 Mio Euro in about 10 years, Mattias can see himself investing some of this money into other businesses. He is also planning on being a mentor and helping other founders growing their own companies by sharing his knowledge. 💡 EPISODE TAKE AWAY When bootstrapping a company: stay on the path and be resilient and patient. Thank you for reading! Let us know if you want to hear more about bootstrapping a company from Mattias. [# Execution](https://www.mattiasgronborg.com/blog/tag/execution) #### ABOUT THE AUTHOR **Svea Landschoof** is a real doer. Svea sets high goals for herself and will work overtime to ensure she achieves them. She defines her own success and isn’t afraid of life’s surprises. If she were, she wouldn’t have made it to the Moon. She is the woman behind and in front of the camera. Svea is multi-talented and lets her skills shine while she both shoots and hosts the inspiring YouTube series with iGoMoon's founder Mattias Gronborg. ## More Like This [Read More](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) 2022.06.26 [# Execution](https://www.mattiasgronborg.com/blog/tag/execution) #### [CEO report for May 22 - reactivating previous customers](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) In today's episode, Mattias is sharing the CEO report for May 2022 which includes the good things from May, what needs to be improved and which opportunities they have. [Read More](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) [Read More](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) 2022.06.11 [# Strategy](https://www.mattiasgronborg.com/blog/tag/strategy) #### [Implementing different strategies to increase sales](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) In today's episode, Mattias talks about how he's planning to get sales back on track. Mattias has been working on many different strategies to improve sales over the last couple of weeks. [Read More](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) [Read More](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) 2022.06.09 [# Execution](https://www.mattiasgronborg.com/blog/tag/execution) #### [Dealing with tough times and looking forward](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) In today's episode, Mattias talks about how he's coping with the current situation at his company and talks about things you can learn in tough times. [Read More](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) [Read More](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) 2022.06.26 [# Execution](https://www.mattiasgronborg.com/blog/tag/execution) #### [CEO report for May 22 - reactivating previous customers](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) In today's episode, Mattias is sharing the CEO report for May 2022 which includes the good things from May, what needs to be improved and which opportunities they have. [Read More](https://www.mattiasgronborg.com/blog/ceo-report-for-may-22-reactivating-previous-customers) [Read More](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) 2022.06.11 [# Strategy](https://www.mattiasgronborg.com/blog/tag/strategy) #### [Implementing different strategies to increase sales](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) In today's episode, Mattias talks about how he's planning to get sales back on track. Mattias has been working on many different strategies to improve sales over the last couple of weeks. [Read More](https://www.mattiasgronborg.com/blog/implementing-different-strategies-to-increase-sales) [Read More](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) 2022.06.09 [# Execution](https://www.mattiasgronborg.com/blog/tag/execution) #### [Dealing with tough times and looking forward](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) In today's episode, Mattias talks about how he's coping with the current situation at his company and talks about things you can learn in tough times. [Read More](https://www.mattiasgronborg.com/blog/dealing-with-tough-times-and-looking-forward) [All blog posts](https://www.mattiasgronborg.com/blog) ## Don't be a stranger Now we are close to something new, the easiest way to contact me is here. 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