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From the blog post: >I define startups as companies that don’t have control of their own destiny because they rely on investor cash infusions to operate. When

From the blog post: >I define startups as companies that don’t have control of their own destiny because they rely on investor cash infusions to operate. When asked, “How’s business?”, I always replied “I don’t have a business yet, we’re still a startup.” I despise this definition. I have grown my hardware startup sustainably while pursuing an engineering degree and maintaining full control of the company. I may soon look for VC funding, I may continue to use revenues and personal savings, but nothing will change my responsibility for my business' future. The fact that you've had money invested into your startup means you have increased control of your destiny, not the opposite. Use that money shrewdly and build a product people want, and you will succeed. That Otto was able to burn through $45 Million in funding without shipping a product makes me believe that poor management and product strategy is behind their failure, not bad luck as the article would ask you to believe.

dfcowell 9y ago
Why is what you have not a "small business?" Is that phrase just not sexy enough? Being a stable bootstrapped small business is more worthy of respect than being an unstable underfunded startup, in my opinion.
- rickycook 9y ago
  certainly more respect than an unstable, overfunded startup too!
- adamweld 9y ago
  Late response, but I often times do use the term small business when talking to people about it. But it's also a startup, which is why I responded so strongly to that bit of the blog post.
ClassyJacket 9y ago
> I have grown my hardware startup sustainably while pursuing an engineering degree and maintaining full control of the company. Can I ask how you had time? And what was your source of income and funding while you were doing that? And engineering degree alone is a huge workload, no?
- adamweld 9y ago
  I found time by picking something I enjoyed doing - turning my hobby into something more, and occupying that time plus some more. And then honestly I prioritize it over getting great grades in my classes, because even if it fails I'll still get a lot more out of the experience (personally) than sitting in a lecture or checking over the answers of a problem set. I bootstrapped with about $3000 of savings, and run a lab at school that's a bit of extra income. Pick the right market and be smart with your suppliers and revenue can start coming in pretty quick. But you're right, time is the big thing stopping me from growing faster... I worked full time last summer and that pretty much stopped me from doing new R&D work, this summer I'm going to be working on the business full time, we'll see how it goes!
TeMPOraL 9y ago
I don't see the reason to hate that definition. It feels spot-on. The defining characteristic of a startup - as the word is used in the real world - is being unprofitable and funded by investors. That literally means one doesn't have control over their company, because they've sold ownership to investors. What you have is a sustainable, bootstrapped small business. It may not sound sexy, as 'dfcowell points out, but IMO, it should - it suggests that the company is actually doing something useful, unlike many startups, which exist only as long as they can keep the growth up to solicit more investments.

dfcowell 9y ago

Why is what you have not a "small business?" Is that phrase just not sexy enough? Being a stable bootstrapped small business is more worthy of respect than being an unstable underfunded startup, in my opinion.

rickycook 9y ago
certainly more respect than an unstable, overfunded startup too!
adamweld 9y ago
Late response, but I often times do use the term small business when talking to people about it. But it's also a startup, which is why I responded so strongly to that bit of the blog post.

ClassyJacket 9y ago

> I have grown my hardware startup sustainably while pursuing an engineering degree and maintaining full control of the company. Can I ask how you had time? And what was your source of income and funding while you were doing that? And engineering degree alone is a huge workload, no?

adamweld 9y ago
I found time by picking something I enjoyed doing - turning my hobby into something more, and occupying that time plus some more. And then honestly I prioritize it over getting great grades in my classes, because even if it fails I'll still get a lot more out of the experience (personally) than sitting in a lecture or checking over the answers of a problem set. I bootstrapped with about $3000 of savings, and run a lab at school that's a bit of extra income. Pick the right market and be smart with your suppliers and revenue can start coming in pretty quick. But you're right, time is the big thing stopping me from growing faster... I worked full time last summer and that pretty much stopped me from doing new R&D work, this summer I'm going to be working on the business full time, we'll see how it goes!

TeMPOraL 9y ago

I don't see the reason to hate that definition. It feels spot-on. The defining characteristic of a startup - as the word is used in the real world - is being unprofitable and funded by investors. That literally means one doesn't have control over their company, because they've sold ownership to investors. What you have is a sustainable, bootstrapped small business. It may not sound sexy, as 'dfcowell points out, but IMO, it should - it suggests that the company is actually doing something useful, unlike many startups, which exist only as long as they can keep the growth up to solicit more investments.