8 reasons to bootstrap as long as you can
TRANSCRIPT
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8 Reasons to Bootstrap as Long as You Can
Alan MendelevičFounder & CEOAdDuplex@ailon
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In general parlance, bootstrapping usually refers to the starting of a self-sustaining process that is supposed to proceed without external input.
Bootstrapping in business means starting a business without external help or capital.
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Just a few bootstrapped companies(at least for quite a while)
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Empowering developers to help each other grow.
• Launched in early 2011 (solo founder)• Break-even in late 2011• FFF investment in late 2011 + first
employee• Ramen-profitable in late 2012• Seed investment from Practica Capital
in mid-2013• Current status: 12 employees,
profitable
www.adduplex.com
The largest cross-promotionnetwork for Windows Phone and Windows Store apps
Looking for:
• Business developer – mid-to-large game/app developers and publishers
• Senior .NET developer
Details at www.adduplex.com/jobs
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My assumptions about you…• You have never sold a
company for millions• You have never raised
money from institutional investors
• You don’t have a high-level position in a high profile company on your resume
• You are not in Silicon Valley
• You don’t have a product with decent traction
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Reason #1. The obvious one.
No one will fund your PowerPoint deck
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2015 definition
• Pre-funding: You talk about your idea, you build a prototype & launch an MVP.
• Seed Round: The funding necessary to get product traction.• A Round: The funding necessary to scale your product.• B Round: The funding necessary to get founder liquidity, build groovy headquarters,
and make competitors give up (or not start in the first place).
Jason Calacanis
http://calacanis.com/2015/01/18/the-official-definitions-of-seed-series-a-and-series-b-rounds/
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Reason #2.Fundraising takes time. Spend it on building your product.
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Reason #3.The best time to raise funding is when you don’t need the money.
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Reason #4.Cash constraints make you think about the business side of your business.
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Reason #5.Cash constraints make you more creative in marketing and customer acquisition.
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Reason #6.Cash constraints instill discipline.
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Reason #7.You became an entrepreneur to be your own boss.
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Reason #8.You can fail faster.
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Yeah, OK, but how?
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Don’t quit your 9-to-5 job too early
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Ensure some passive income
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Learn how to code or find a technical co-founder
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Be Jack of All Trades
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Start selling early. Help your customers fund you.
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Leverage startup offers from tech giants
• Microsoft• Amazon• Google• etc.
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Personal debt