Status Updates From How I Built This: The Unexp...

bootstrapping as long as you can is the best thing for the company because you own the entire company ... Use your credit cards, do anything you can so that by the time you go to angels you have built a working prototype and have some users. You'll likely be valued higher and will suffer less dilution.

You need a partner whose skill set complements yours. Someone who not only shares your vision but elevates it and holds you accountable to it; who does what you cannot; who thinks and sees things in a way you don't; whose strengths compensate for your weaknesses, and vice versa.

That is the buoying effect of not quitting your job right away and having a fallback plan for when you do. It's not so that you'll have another way to do something new and possibly get rich. Rather, it's a way to have another shot at doing something you've already done before so that you don't go broke while you gather yourself to try again.

I asked myself, 'Do I want to do this the rest of my life?' And the answer came back: No.' And the corollary to that was, 'Well, if I don't want to do it for the rest of my life, I probably don't want to do it tomorrow."