> I speak with startups who have a product that is poorly differentiated, me-too like, that think they are going to take over the world. The reality, the vicious Darwinian reality, is that you and your team have to bust your collective rear-ends. And get lucky.
Even being Early (or in our case the first to do something) doesn't always work, we had to give our services away for free, or at a significant loss when operating costs were accounted for, because we were using technology that was not really understood (much less by our demographic) and had not been attempted in the past to facilitate or service the Industry we chose. So we had to engage our future paying customers in a way that they relied on us for something they found useful and pay for it in the future, so I boot-strapped and fell back on my other skill-sets, that ultimately took time from further development that could have otherwise yielded a better product in less time, but again... uncharted territory means you are make the Map as you go along, with all the mistakes and hidden landmines along the way.
> This is very ... very hard for bootstrapped companies, operating on shoestring budgets at best.
I'd say Bootstrapping is a Pyrrhic Victory, because on a financial level, had I decided to stay on the sidelines and just DCA while trimming the fat from my budget working a normal day job, as so many now in this space did, I'd have an ROI way better than my Startup, and most ever created in that space for that matter, ever was. They thought they were geniuses, when in reality they were just 'free-riders' that directly benefited from the work done by risk takers and people who actually did the heavy lifting to get the project to where it was and currently is. But ultimately looking at our holdings and net-worth on paper wasn't the point for some of us, it was to bring our vision into existence and prove a technology could solve far more problems than even it's core developers and even the greater community at large could ever think it could and bring about a desirable change to the Enviorment. And for that it takes a lot of sacrifice, which ultimately made me understand that 'disruption isn't always profitable' is a very true statement in a financial sense, but can be very profitable if you're goals are to do more than that. It's just how you quantify it.
> And the cost to you, financially, mentally, physically, will be huge. Not can be. Will be.
Agreed. Still dealing with that to this day. Just my Physical Therapy costs alone have been something I didn't anticipate to be so expensive in every sense of the word.
Even being Early (or in our case the first to do something) doesn't always work, we had to give our services away for free, or at a significant loss when operating costs were accounted for, because we were using technology that was not really understood (much less by our demographic) and had not been attempted in the past to facilitate or service the Industry we chose. So we had to engage our future paying customers in a way that they relied on us for something they found useful and pay for it in the future, so I boot-strapped and fell back on my other skill-sets, that ultimately took time from further development that could have otherwise yielded a better product in less time, but again... uncharted territory means you are make the Map as you go along, with all the mistakes and hidden landmines along the way.
> This is very ... very hard for bootstrapped companies, operating on shoestring budgets at best.
I'd say Bootstrapping is a Pyrrhic Victory, because on a financial level, had I decided to stay on the sidelines and just DCA while trimming the fat from my budget working a normal day job, as so many now in this space did, I'd have an ROI way better than my Startup, and most ever created in that space for that matter, ever was. They thought they were geniuses, when in reality they were just 'free-riders' that directly benefited from the work done by risk takers and people who actually did the heavy lifting to get the project to where it was and currently is. But ultimately looking at our holdings and net-worth on paper wasn't the point for some of us, it was to bring our vision into existence and prove a technology could solve far more problems than even it's core developers and even the greater community at large could ever think it could and bring about a desirable change to the Enviorment. And for that it takes a lot of sacrifice, which ultimately made me understand that 'disruption isn't always profitable' is a very true statement in a financial sense, but can be very profitable if you're goals are to do more than that. It's just how you quantify it.
> And the cost to you, financially, mentally, physically, will be huge. Not can be. Will be.
Agreed. Still dealing with that to this day. Just my Physical Therapy costs alone have been something I didn't anticipate to be so expensive in every sense of the word.