There is a lot to be said for growing an independent business without seeking funding from a VC or angel investors.  Control trumps financial resources for many entrepreneurs.  Jim Beach, David Beasley and Chris Hanks, writing at Entrepreneur, say that "bootstrapping can also be better for employees," as they have a stronger relationship with the company founder and "there is a clear and absolute line of authority."  Beach, Beasley, and Hanks say the key to bootstrapping is to get the business up and running quickly and efficiently.  And they advise following five rules:

1. Get Operational Quickly

2. Understaff

3. Keep Growth in Check

4. Forecast from the Bottom Up

and 5. Reconsider the Traditional Business Plan

The low-risk, bootstrapping entrepreneur doesn’t need start out by writing a detailed business plan. He or she starts small, with one or two sales, slowly building with little if any debt and using his or her day job as a cushion, creating a sustainable, profitable business from day one.

Using this formula, the only person who would read your business plan is you, and you already know what the plan is. Planning is important; spending weeks writing about it is not important. Later in your career as an entrepreneur, having a formal business plan may be a good idea as you venture into larger companies and indeed want to use someone else’s money to do so. But for now, that’s not necessary. Spend that time selling.

Read the full description of these rules here.