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We didn't need VC or anything like that to get started, so our expenses were very low. It also did (and does) generate quite a bit of revenue, so I'd say it's d
by rdegges 13y ago
We didn't need VC or anything like that to get started, so our expenses were very low. It also did (and does) generate quite a bit of revenue, so I'd say it's definitely outside the 'lifestyle business' category.
In the end we had all partners (3 of us), and a full time employee -- so it was fairly big I'd say (all with profitability, etc. from day one).
Along the way we could have definitely hired more engineers and grown the team, but we decided to treat it as a passive business after we got some big successes and didn't think hiring / etc. would be necessary (at least for a while).
If I could go back in time and re-do that, I think the company would be much larger now (and more successful) had we scaled our engineering team early on with the money we got, and tried to shoot for quicker growth.
- spullara 13y agoIMHO, your last paragraph really is the difference between a lifestyle business and a startup. I'm not disrespecting the choice at all, just a different set of goals. Based on the set of customers you have and domain expertise I'm not sure why you aren't throwing everything behind this business. Anyway, good luck!
- rdegges 13y agoWe have since changed strategy, and are now hiring / scaling the team / company :)
- prottmann 13y agoYou made the strategy you felt good with and that cant be wrong. :)