When to Say No to Venture Capital
Instead of seeking financing, Ryan Smith spent four years bootstrapping to get his company off the ground. Here's why.
Ryan Smith knew he wanted to build a company he could grow over the long haul. So rather than race to find financiers in 2002, the co-founder and CEO of Qualtrics spent four years bootstrapping his enterprise survey provider from his dad's basement.
That low overhead helped the Provo, Utah, startup reach profitability almost immediately. As the company
