1–10 of 56 posts
I'd love to read some reasoning behind people's choices, especially if you are choosing the third option.
Most of my work is open source, but I would also like to use my growing skills to build something closed at some point, in another domain. Even then, I would rather build something small that I can maintain and grow without funding, than jump on the VC train.
That said, I have nothing against people who are using the VC model, and I understand that capital is quite necessary for building many businesses.
Started with a plan to prove our business first as a lifestyle business. Got customers, got usage, got revenue. We raised our first round when cash flow positive (which was much easier to raise, because we had a real business). Then a year later even a bigger round. Make it a real business first. Don't start life as a capital crack baby.
8 years later the company I started still exists (http://exocortex.com, software plugins and consulting) and has hundreds of specialty clients and pays real salaries and has been profitable for years, but it isn't headed for an exit itself. So it is firmly a lifestyle business.
That said, we started something like a "start-up" within this lifestyle business that has more growth potential (read: exit potential) but also more risk (http://clara.io, a web-based 3D editor/rendering/publishing tool.) More examples of what can be done with Clara.io can be found on our Facebook page: https://www.facebook.com/Exocortex
I guess once you've got the lifestyle business established, you can then go and look for larger opportunities.