Bootstrapping primarily means building your business 100% without outside capital. This gives the founders necessary freedom to explore their own ideas. But on the other hand it’s a challenge to maintain cash flow on customer revenues alone without VC. We bring you two very different entrepreneurs with different businesses to share their success story with bootstrapping. Here Chetanya C, Co-founder of Ozonetel Systems and Kabandi Saikia , Co-founder of Omnify guide us forward.
Chaitanya talks about bursting some of the Myths of bootstrapped companies. Did they think about investment, was investment available during the time they setup. What were the requirements of the investors that were keen on exploring. They urge us to find right co-founders to collaborate with. Further they illustrate us importance of Customer satisfaction for success of bootstrapped entities. What are some of the lessons that Chaitanya learnt when he and his co-founders decided not raise the money. What line of business did they decide to pursue to dontinue to build the business while continuing to bootstrap.
Value SaaS Series focus on businesses surviving in their path to first million. They bootstrap or raise tiny external investments. During this period they iterate rapidly to create a growth engine for scaling to $10Mn and beyond. By accessing & deploying founder-ownership friendly capital, they grow rapidly and thrive.
Organization that is able to make $1 of revenue through less than $1 of spend is a Value SaaS Business. Veeva, Zoho, MailChimp, Atlassian, BrowserStack, even SalesForce, are all Value SaaS startups – they made more than $1 Mn ARR with less than $1Mn in spend.