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Bootstrapping a side project into a profitable seven-figure business

projectionlab.com

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Re: Bootstrapping a side project into a profitable seven-figure business

#101

Post by jonkuipers »

k1t wrote: post #98

What I'd really appreciate is a demo/sandbox version where I can try out the functionality without having to enter anything personal. I appreciate that you have a (generous looking) free tier and various screenshots - but it just seems like something I'd want to play around with before taking the time to create an account and start entering personal data into.

We do offer a sandbox with preset examples that lets you explore the app. No need to enter any personal data, but you will need to sign up.

Re: Bootstrapping a side project into a profitable seven-figure business

#102

Post by nl »

teiferer wrote: post #96
bruce511 wrote: post #19

It's so, so , so hard to walk the line between persistence (which leads to glory) and stubbornness (which leads to more time following already wasted time.) Congratulations for walking this line correctly. I agree that some sort of market validation is necessary to at least pretend you are on the former not the latter. Those early usage spikes are helpful reminders that there is a business here somewhere. I'll also m…

> It's so, so , so hard to walk the line between persistence (which leads to glory) and stubbornness (which leads to more time following already wasted time.) > Congratulations for walking this line correctly. As much as I like to agree with this message ... isn't there a big portion of luck involved here that makes the difference between the two sides of this line? In other words, aren't we seeing huge survivorship…

> isn't there a big portion of luck involved here that makes the difference between the two sides of this line? In other words, aren't we seeing huge survivorship bias at play here?

Luck and survivorship bias may not be the same thing.

Re: Bootstrapping a side project into a profitable seven-figure business

#105

Post by rthrfrd »

nl wrote: post #102
teiferer wrote: post #96

Earlier quoted context omitted.

> It's so, so , so hard to walk the line between persistence (which leads to glory) and stubbornness (which leads to more time following already wasted time.) > Congratulations for walking this line correctly. As much as I like to agree with this message ... isn't there a big portion of luck involved here that makes the difference between the two sides of this line? In other words, aren't we seeing huge survivorship…

> isn't there a big portion of luck involved here that makes the difference between the two sides of this line? In other words, aren't we seeing huge survivorship bias at play here? Luck and survivorship bias may not be the same thing.

Sure, but when you can’t clearly attribute the survivor’s survival, there’s still no meaningful conclusion to draw. And given how many different ways there are for businesses to succeed or fail, that are never ever repeatable due to the passing of time in the market, then I think attribution is impossible, so having the humility to somewhat attribute luck is admirable.

Re: Bootstrapping a side project into a profitable seven-figure business

#107

Post by 44za12 »

I love how these stories always start with “I just wanted to scratch my own itch” and end with “...and now I’m running a company with a payroll bigger than my old day job.” It’s inspiring, but also a little bit intimidating. Makes you wonder how many potential seven-figure ideas are just sitting in people’s “maybe someday” folders. The real lesson here? Ship something, even if it’s ugly. You can’t optimize what doesn’t exist.

Re: Bootstrapping a side project into a profitable seven-figure business

#108

Post by _1tem »

Ozzie_osman wrote: post #91

Co-founder of a somewhat complementary and somewhat competitive product. Just dropping in to say what Kyle has done with Projection Lab is nothing short of phenomenal. This is a tough space to build in, and he's built an amazing product.

Sometimes I wonder who makes more money: a VC backed founder like you with tens of millions in funding and 8 figure revenues, or a bootstrapped founder with a small team of contractors at $1m ARR.

Re: Bootstrapping a side project into a profitable seven-figure business

#109

Post by bisRepetita »

Thank you so much Kyle for sharing all this. This is very inspiring. I will put a few more extra hours today in my project thinking about you.

I'd love to have some info about the hiring of Jon, anything you may feel like sharing, while I realize a lot of it is very confidential. For example:

- I am wondering how the working relationship got started since you write that he "spent a year contributing real value", and he was not asking for equity upfront. Did you hire him as contractor initially, did he volunteer his time?

- the structure of the deal with him, and of course the equity part, especially _if/while_ you are not planning to sell the business. Maybe you have some pointers on "possible deal structures" that you looked into without spilling the beans on the actual deal?

I know I am asking a lot, I hope it does not hurt to ask, so realistically I don't expect any answer, but any breadcrumbs would be so valuable/helpful! In any case, thank you so much already.

Re: Bootstrapping a side project into a profitable seven-figure business

#110

Post by RamblingCTO »

_1tem wrote: post #108
Ozzie_osman wrote: post #91

Co-founder of a somewhat complementary and somewhat competitive product. Just dropping in to say what Kyle has done with Projection Lab is nothing short of phenomenal. This is a tough space to build in, and he's built an amazing product.

Sometimes I wonder who makes more money: a VC backed founder like you with tens of millions in funding and 8 figure revenues, or a bootstrapped founder with a small team of contractors at $1m ARR.

You don't have to wonder: the days that VC backed founders make shit tons of money is long gone imho.
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