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We bootstrapped to $11M in ARR

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Re: We bootstrapped to $11M in ARR

#101

Post by byefruit »

bootstrapper101 wrote: post #61
byefruit wrote: post #57

Earlier quoted context omitted.

How did you ensure you'd given each iteration a proper go? Are there any tips you can share for validating them that were effective?

We kept an iteration going as long as we saw a reasonable and viable path to keep growing the business. One of the product was consumer and had a hockey stick growth curve obvious in the first week. So it was obvious to keep going on. Another product was profitable and we could acquire new customers through advertising. So it was obvious to keep going on. For the one's that didn't do good, initially I wasted a lot of…

Super interesting. Thank you.

Re: We bootstrapped to $11M in ARR

#102

Post by 1cvmask »

mh_ wrote: post #75
mh_ wrote: post #53

Earlier quoted context omitted.

We were a little bit lucky in this regard, because we had some authority in the niche (2 members of our original team had spoken at security conferences internationally for the previous 10 years). I have lots of thoughts on this though. I think with a low enough burn rate, you can overcome this with a great product, and taking just one bite at a time. ie. one happy customer, then another. Actual customer happiness is…

I've previously pondered how we would have approached our early steps if we were completely unknown, and the best option i can think of is a kind of sincere, influencer marketing approach. i.e. if you dont have the voice in the industry that people will listen to, find people who do, and get them to see your product. Most industry leaders are constantly looking to up their game, so you should be able to catch their e…

How would you recommend approaching them?

Re: We bootstrapped to $11M in ARR

#103

Post by ithinkso »

cosmodisk wrote: post #92

One thing I don't understand is this notion that any startup can happen only in the valley,or if someone starts there, it's 100 times easier. The main benefit,which the US startups take for granted is the market size. You don't need to learn German, French ,or Spanish just to sell to your neighbors.

Well, of the two neighbors, one speaks Spanish and the other speaks French a bit

Re: We bootstrapped to $11M in ARR

#104

Post by blacktriangle »

brandonmenc wrote: post #84
robertlagrant wrote: post #67

Earlier quoted context omitted.

This is exactly right - I've had my kids in my mid 30s, and while there are upsides, there are downsides. At a friend's wedding, his great grandmother was there. Hearing that, I realised there is an amazing upside to having kids a little earlier.

My great grandmothers were alive until I was in my 20s, but they were like, practically in arranged marriages when they were 14. I know this is an extreme example but, talk about downsides!

Is it? Every study on arranged marriages I've seen points to lower divorce rates and higher general happiness. Assuming your parents aren't assholes they'll try and do right by their kids. And the nice thing about an arranged marriage is that it's two people not following some illusions of effortless love and happiness, but two people coming together to collaboratively build that love and happiness.

Re: We bootstrapped to $11M in ARR

#105

Post by BackBlast »

artemonster wrote: post #56
bootstrapper101 wrote: post #7

Earlier quoted context omitted.

I run one of these companies. USD 50M+ ARR, USD 20M+ profit. 3 people company. Could grow 10x if we want to. But we are enjoying staying low and enjoying our family lives. Excellent article by the Canary guys. They seem like really honest people. We didn't raise any money. Only focus was how to do faster iterations. By the time 25 of my ideas didn't succeed, every iteration became very fast. Idea to launch in 3 month…

How did you stumble on all the ideas to try? I am at a point that I want to try literally anything , but its is exceptionally hard to judge success chances if the target niche is absolutely outside your domain/experience. How did you find all these 20 ideas?

I spent years and years in the "I just need a good idea" rut. In reality they are everywhere. Every spreadsheet sitting on a company computer, doing some work no other system will do, is a potential SaaS niche.

It does help to elevate your exposure to industries and companies. Go to trade shows for your hobbies, learn their pain points. Consider switching jobs more frequently, or find some work at a consulting firm which can get you on a different contract every few months. Seeing the inside of more companies will give you more exposure and will help you see where they struggle.

Working on an idea (even a bad one!), doing the deep dive, will result in logical branches out to other ideas. You need to work on your execution anyway, because the best idea in the world won't take you far if you fail to deliver.

Since I started trying to build my ideas, I find that I have far more than I could possibly build myself.

Re: We bootstrapped to $11M in ARR

#107

Post by Communitivity »

nonameiguess wrote: post #97
Communitivity wrote: post #94

From friends I've talked with, the benefits of the valley are real, but diminishing. At the same time downsides are increasing: cost of living, homelessness, real estate prices (though I read these are coming down a bit). I've been told the benefit has been the ease of networking, and likely will always be so. As startup hubs grow around the country this networking benefit will start to be there. It is already there…

Northern Virginia for any sort of federal work, though it's not the same situation since the clearance requirements disqualify most non-citizens, people of foreign birth, or just most people at all since most people don't have security clearances. Still fertile ground for people who meet the requirements, though.

Agreed. I think defense startups are different animals though, based on my experience as a contractor in startup size defense contracting firms in the past. I could see different networking circles, different hiring requirements (you mentioned clearances), different software setups (I've worked on teams where using git over ssh not allowed on government networks). I plan the curate the results from this ask into https://github.com/BillBarnhill/AwesomeStartupHubs, and will include defense hubs there too.

Re: We bootstrapped to $11M in ARR

#110

Post by BackBlast »

throwaway11002 wrote: post #82
bootstrapper101 wrote: post #68

Earlier quoted context omitted.

Think about how many non-basic need products that you know which consumers pay which is not some kind of exclusive or monopoly: Utilities, Cable, Cell phone, NetflixEtc, Uber*. Today's consumer doesn't like to pay for anything, especially if it is a digital product. They will do whatever they can to get out of paying either by pirating or trying to get a refund/chargeback after using it. Sometimes they will do an imp…

How do I identify the ungrateful ones early enough? :D

Anyone trying to beat you up on price or haggle tends to fit in this bucket. If they love the service the price won't be much of an obstacle.
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