How we bootstrapped our SaaS to $1M ARR
111–120 of 159 posts
Re: How we bootstrapped our SaaS to $1M ARR
#112Earlier quoted context omitted.
As another bootstrapped founder, I disagree with you. "Our standard terms are for 10-12% equity." The moment you give equity in exchange for money no matter whether its tinyseed or whatever, you are not bootstrapping. Your financial risk is lower because you don't have to pay this money back if your company fails. That is not called bootstrapping. I bootstrapped with my own money AND some smaller loans which I am ful…
My 2c as a bootstrapping founder (who has not taken outside money): I don't think there is any virtue in funding your business with your own money. Call yourself bootstrapped or funded, what ultimately matters is that the business survives and thrives.
Re: How we bootstrapped our SaaS to $1M ARR
#113Re: How we bootstrapped our SaaS to $1M ARR
#114Awesome story and congratulations! You recommended Rob Walling’s book, Start Small, Stay Small, but what else can I read? And where do “indie hackers” like you hang out on the internet, so that i can learn more about how to do this myself? Any other resources worth sharing?
https://www.indiehackers.com coined the term I believe
Re: How we bootstrapped our SaaS to $1M ARR
#115Earlier quoted context omitted.
My 2c as a bootstrapping founder (who has not taken outside money): I don't think there is any virtue in funding your business with your own money. Call yourself bootstrapped or funded, what ultimately matters is that the business survives and thrives.
Sure, but words have meaning and bootstrapping is specifically about not selling ownership for cash
Re: How we bootstrapped our SaaS to $1M ARR
#116Re: How we bootstrapped our SaaS to $1M ARR
#117Awesome story and congratulations! You recommended Rob Walling’s book, Start Small, Stay Small, but what else can I read? And where do “indie hackers” like you hang out on the internet, so that i can learn more about how to do this myself? Any other resources worth sharing?
Re: How we bootstrapped our SaaS to $1M ARR
#118Earlier quoted context omitted.
Bootstrapping means you funded the entire thing out of pocket without any outside investment. There's nothing bad/wrong about how you did it, but it's not bootstrapping. Saying it is makes it confusing for newbies which means they're more likely to be taken advantage of by VCs that realize they can market themselves as a "bootstrapper fund."
Thinking about it in such binary terms is quite limiting and unhelpful though. It's a spectrum. I would consider ScrapingBee closer to a bootstrapped company than a venture-funded company. Heck, by your definition if I took $5k of friends & family money to start a business that grew to $5M ARR,I could not call that "bootstrapped". This is why Rob Walling (co-founder of TinySeed) likes to use the term "fundstrapped".…
My exact point. It's just wordplay.
Re: How we bootstrapped our SaaS to $1M ARR
#119Re: How we bootstrapped our SaaS to $1M ARR
#120Earlier quoted context omitted.
> It's ridiculously hard to get to $1M ARR This is a blanket statement and it’s very wrong. Know better than to look at revenue versus profit. Then again, Silicon Valley seems to have long since given up on that idea!
Right, sure, silicon valley doesn't know how to turn a profit. /s
What I actually meant to say was that SV investing has ignored profit and looked at revenue for a while now.