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by bootstrapping
2964 days ago
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That's one thing about bootstrapping, your P&L practically mirrors the cashflow statement so we had to be profitable from the get-go. We're well past that take-off stage where I was unsure if the business was going to fly or not, so now I'm following the Bezos strategy of re-investing all earnings back into the company (sure beats coughing up income taxes). So yes, with the caveat that I'm not paying myself a cent, since as majority shareholder I think of equity as my comp, it's profitable. It helped a lot that on Day One we had $5000 of AWS credits, two founders with spare time and tons of business & tech experience, a market segment ripe for the picking, an enthusiastic (and well-connected) launch customer for the MVP, and disruptive home-grown IP that created more customer value (even in MVP form) than anything else on the market. I couldn't have asked for better initial conditions for a bootstrapped company. (yes I was surprised the account ID wasn't taken already. maybe I won't throw it away) |
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