The purpose of a long-term business plan is to positively impact at least one of these areas. When businesses refuse to take responsibility, problems such as environmental degradation, inequality, and social injustice can arise.

The majority of businesses are self-funded, and revenue from any sales is used to grow them. It's crucial to understand the complexities of bootstrapping - and how to properly prepare for it.

The term bootstrapping has its origin in the early 19th century with the expression "pulling up by one's own bootstraps." Later, it became a metaphor for achieving success with little or no outside investment.

This brings us to our next concern. In the times of Covid-19 and Omicron, How Can Bootstrapping During Difficult Times Lead to Sustainable, Long-Term Growth?

If you're increasing by sales, you've already integrated sustainability into your business strategy. You're generally forced to be more resourceful and not spend beyond your means, directing your funds to the most impactful elements of your life. Bootstrapping frequently means prioritising or constructing something viable in the face of an endless to-do list. It also allows you complete control over the direction and rate of growth of your company. Every penny of revenue collection and expense outlay needs to be tightly managed. Future investments are paid for by earnings that are retained.

To begin, you'll need to be in a strong financial position, with cheap startup costs and firm control and management over your company's ongoing financial state. However, the financial and emotional strains can be enormous. There are personal dangers (debt, stress, and burnout) as well as company risks if you begin this trip without the proper preparation and foundations in place (failure).