@Cauliflower101 - Try a new strategy. If you're focusing on bullet power, lay low for a bit. Focus on dodging attacks and increasing your max health. If you're fights are taking too long, try obtaining more bullet power to reduce the amount of time in the ring, and the number of opportunities the boss has to hit you. Each boss develops on how you play, so there is no right or wrong answer. Find the play style that works best for your skillset.
@ PinkUnicornZach: The different colored bullets can give you different status effects at higher levels. Check out the instructions screen on the main menu for details.