bootstrap

Vocabulary Word

Definition

'Bootstrap' often means starting or running a business using your own money and without much outside help. It’s like starting a restaurant with your own savings instead of getting loans or investors.

Examples in Different Contexts

In a creative project, bootstrapping is about starting with minimal resources. An artist might explain, 'I bootstrapped my art gallery with just my savings and a few paintings.'

Practice Scenarios

Public-Policy

Scenario:

To transform this neighborhood, we require a sustainable development plan, not just short-term relief efforts.

Response:

Right, instead of temporary fixes, we must bootstrap this community to build long-term resilience.

Business

Scenario:

Our start-up is enamored with the idea of rapid expansion. However, we have to remember that initial funding is limited.

Response:

Indeed, considering our current situation, bootstrapping appears to be the safest and smartest strategy for our start-up.