As an early stage company founder and CEO, I am obsessed with money management. Meaning – I have the perpetual sense that we’re about to run out of it. Sometimes we are, sometimes we’re not, but it definitely keeps my paranoid mind alert (at night).
I think that bootstrapping (which is what we’ve done) has a very profound effect on the culture of a company. It creates a mind-set of “essentiality”, not excess. It creates a mind-set of how much we can get done on how little. It’s a mind set of really appreciating reward when it comes. And I think from a pure business perspective, it creates a mind-set of operational efficiency that results in higher margins.
I wonder what percentage of web 1.0 companies that made it through the long winter were bootstrapped companies.