5 ms·

Have done one investor funded startup (not a huge success) and now three years into a bootstrapped startup (slowly beginning to be successful), I can see the at

Have done one investor funded startup (not a huge success) and now three years into a bootstrapped startup (slowly beginning to be successful), I can see the attractions of both models. However, it's very apparent that investors have very different motivations to founders. Averaged over their work, investors need to have a few big successes and don't mind if most fail. But a founder only works at one company, so their expected return is less in this "go for broke" model. Taking funding gives you the resources to do more. Bootstrapping gives you the time do it right. Time will tell which model is best for me. I suppose it's whether you take a short or long term view of your career, and your desire for size of success.

tonystubblebine 17y ago
I talked to a lot of people at the Business of Software conference (basically a conference by and for boot strappers) and a huge number of them had five hard years followed by easy street. I know for myself, the three years we've been going have been as much about learning new skill sets as they have about building customers and product. Three years in, things are opening up a tiny bit, but I definitely feel like we're on a five year plan.
- bensummers 17y ago
  So, only two more years to go! That timetable makes sense. There's just so much to do and learn, and the number of people involved is inherently limited by the resources available. Three years is probably the time needed to build something wonderful and learn about the environment within which it exists, and then you've got two years to learn how to sell it!
  - mattwdelong 17y ago
    You should know how to sell it from day 1.
    - bensummers 17y ago
      "No plan survives contact with the enemy." ~ Field Marshal Helmuth von Moltke Of course, one always 'knows' how to sell the product from day 1. It's just that the more you do, the more you know about how to actually sell it. I've found that being in a startup is a continual learning process, where you mainly learn how little you know! If you've been successful in your startup with the same sales plan that you had at the very beginning, then I'd be somewhat shocked.

tonystubblebine 17y ago

I talked to a lot of people at the Business of Software conference (basically a conference by and for boot strappers) and a huge number of them had five hard years followed by easy street. I know for myself, the three years we've been going have been as much about learning new skill sets as they have about building customers and product. Three years in, things are opening up a tiny bit, but I definitely feel like we're on a five year plan.

bensummers 17y ago
So, only two more years to go! That timetable makes sense. There's just so much to do and learn, and the number of people involved is inherently limited by the resources available. Three years is probably the time needed to build something wonderful and learn about the environment within which it exists, and then you've got two years to learn how to sell it!
- mattwdelong 17y ago
  You should know how to sell it from day 1.
  - bensummers 17y ago
    "No plan survives contact with the enemy." ~ Field Marshal Helmuth von Moltke Of course, one always 'knows' how to sell the product from day 1. It's just that the more you do, the more you know about how to actually sell it. I've found that being in a startup is a continual learning process, where you mainly learn how little you know! If you've been successful in your startup with the same sales plan that you had at the very beginning, then I'd be somewhat shocked.