It's not something most people should do, but if you're in a pinch it might be a lot better than diluting & dealing with the hassles of bringing in more angels. I don't think you're giving enough credit (no pun intended) to credit card companies willing to give you 0% interest for 6 months to a year.
But to your point, it's very risky and NOT something most people should even consider. There's no way in hell I'd sell my soul to a credit card company at 20% APR either.
I have never bootstrapped a company on a CC. Fortunately this latest endeavor is all about micro-transactions so we're cash-flow positive very quickly. If I bootstrapped on a CC, I would never exceed a debt level more than the value of personal assets (car, equipment, etc..). Always plan an exit...
But to your point, it's very risky and NOT something most people should even consider. There's no way in hell I'd sell my soul to a credit card company at 20% APR either.
I have never bootstrapped a company on a CC. Fortunately this latest endeavor is all about micro-transactions so we're cash-flow positive very quickly. If I bootstrapped on a CC, I would never exceed a debt level more than the value of personal assets (car, equipment, etc..). Always plan an exit...