Building a business without an initial outside investment

Startups can build profitable businesses even without interest from venture capitalists or angel investors, writes Sramana Mitra, founder of One Million by One Million. The trick is to focus on revenues early on. "The initial cash needs to come from revenues, not financing," Mitra writes. "But later, as the business finds its stride, generates profits, it can offer the opportunity and cash for pursuing a bigger idea."

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