3 ms·
+1 to this. I like the point of that "Miles" made in the comments: that there really is such a thing as a lifestyle business, but there needs to be a new term
by 100k 17y ago
+1 to this.
I like the point of that "Miles" made in the comments: that there really is such a thing as a lifestyle business, but there needs to be a new term for businesses too small to interest VCs.
A "lifestyle business" is something that makes you enough money to get by, perhaps somewhat passively.
But no one should call 37signals a "lifestyle business" -- they are a small company with millions of dollars in revenue. But VCs probably would not have been interested in them because they didn't plan to take over the world.
Just wondering...what are the options for funding a business that isn't VC sized but could be successful in its niche? Bootstrapping? SBA loans?
- MicahWedemeyer 17y agoWe're going the bootstap + day job route. It's very hard, but we spend our time working on the project instead of worrying about funding. However, I'm also very curious about SBA loans, and other loan financing.
- coopr 17y agoI've been working the SBA loan route for a while now, and I'm preparing to post a summary of my experiences to HN. If anyone out there has also tried to get SBA-backed loans for a startup, holler and maybe we'll co-write some tips for other entrepreneurs.