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Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

blog.fiplab.com

21–30 of 41 posts

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#21
Anirudh/Rishi,

Great story, I'm a long time lurker but created an account to comment/question. From what I could gather in the 3 posts, it looks like neither of you guys were technical at the very beginning. Did one of you eventually learn to code/design, or is that portion still hired out? What qualities did you look for when hiring coders?

Thanks!

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#22
Please don't take this the wrong way, this is a serious question, and I hope you give it some serious thought before you answer.

Do you feel fulfilled? Do you feel like this is the most you can contribute to human civilization? If you could, how would you most like to make the world a better place?

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#23

I love these posts, and I am rooting for you guys, but find it a little depressing that you first started making real money by cloning someone else's crappy novelty fluff app.

Innovation is overrated- users don't care about it, they care about delivered value. Half the time the innovators have crappy executions, but are so wedded to their idea that they refuse to simplify, change, and evolve.

That's when cloners come in and beat the living daylights out of them by copying and improving upon their innovation.

There's a fantastic book on this, 'Copycats':

http://www.amazon.com/Copycats-Smart-Companies-Imitation-Str...

Incredibly well-written for a HBS book, lots of solid case studies, and some interesting research into the nitty gritty numbers behind innovation vs imitation.

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#24

Please don't take this the wrong way, this is a serious question, and I hope you give it some serious thought before you answer. Do you feel fulfilled? Do you feel like this is the most you can contribute to human civilization? If you could, how would you most like to make the world a better place?

That's a silly question for someone starting their first business.

Most great philanthropists only dive in in their 50's and 60's.

Elon Musk started a mapping site in his 20's, which put him in position for PayPal, which gave him the capital to launch rockets into space.

If more people focused on making money in their 20's, real money, scalable money, there'd be more shoot for the stars entrepreneurs in their 30's and 40's, and more world class philanthropists in their 50's and 60's.

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#25
post #21

Anirudh/Rishi, Great story, I'm a long time lurker but created an account to comment/question. From what I could gather in the 3 posts, it looks like neither of you guys were technical at the very beginning. Did one of you eventually learn to code/design, or is that portion still hired out? What qualities did you look for when hiring coders? Thanks!

Cool, glad we got you to sign up to HN :)

Great question, I'm pretty technical since I've was developing websites for several years before starting FIPLAB. At times, I even figure out how to code things when our programmer can't figure it out. I always look for the simplest way to build something, especially when we are under a tight deadline and need to ship before the competition does.

Also, I still do a lot of the design work myself (obviously not the 3d modelling/animation though) - but more UI/Icon design.

As for hiring coders, the number one thing we look for is a proactive and 'never give up' attitude. Can't stand it where in the past a programmer has given up after spending just 1 hour trying to code a particular feature. If they can't be bothered find/figure out the solution, then they'll never mix well with our team.

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#26

Please don't take this the wrong way, this is a serious question, and I hope you give it some serious thought before you answer. Do you feel fulfilled? Do you feel like this is the most you can contribute to human civilization? If you could, how would you most like to make the world a better place?

I always am left wondering what people think gives them the right to ask that question of other people.

Isn't it hard enough figuring that out for your own life?

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#27
post #17

Earlier quoted context omitted.

Thanks. Paid advertising is pretty much useless, unless you have very deep pockets. We just splashed a bit of cash on it as we needed to do everything possible to break into the Top 25 'Golden Zone'. We also got a very good deal at $0.01 CPC and they matched our initial deposit of $250.

Thanks for confirming. Do you think the initial ad spend was worthwhile? (Do you think you would have gotten into the Top 25 without it?)

probably could have broken into the Top 25 without it, but didn't want to risk not advertising, just in case we didn't.

Re: Bootstrapping a $30k profit/month company from our internship earnings (Part 3)

#28
As a fellow indie dev with some success in the app store, I'm always happy to hear of other indies become successful. I think the App Store has really flipped traditional software sales on its head and made it possible for the likes of you and I to compete head to head with billion dollar companies. It's quite remarkable and I hope this is just the beginning.
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