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37signals (basecamp now) is an exception. They didn't seek investment to get started. They are able to fully control their destiny because they don't have inves
by Justsignedup 3y ago
37signals (basecamp now) is an exception. They didn't seek investment to get started. They are able to fully control their destiny because they don't have investors, they asked for Bezos to invest because they wanted him as an advisor, not because they needed the money.
So yes DEFINITELY possible to do a 37signals, but you need starting capital. Or at least an ability to live for free for 24 months while you figure out how to make cash from your business.
Most companies of that nature are started by either of the following scenarios:
- Kid(s) from a middle-to-upper class family who can live off their parent/grandparent's money for a few years while they figure things out. Maybe even family throws in a few hundred grand as a gift to get you started. Definitely have collateral for a loan.
- Already successful founders who have the ability to drop 200-500k into their company to get started, and already able to live off their wealth.