Saint/Rebel

I spent the better part of the last 3 years building our 3rd business from revenues and sweat. We went from an idea to sustainable, growing, and profitable business. It was not easy, nothing ever is. At times we flirted with taking funding, had offers on the table, and sought out a few commitments. Even had a 2 larger companies approach for acquisition. Ultimately though we chose to stay independent.

During this same time a close friend of mine left a huge internet company, founded a new startup, raised 10′s of millions in VC, folded that startup in what they call a ‘soft landing’, and started another one. He was convinced he needed funding for the new project. I doubt my words made any real difference but I tried to steer him away from it. He did the math and ultimately decided to tell some of the biggest names in the angel and VC world he would forgo their cash for few months to see if this idea had legs.. and was met with utter contempt.

With VC  you gain cash, and the ability to spend it. You do not gain the assurance of success. And all along you have to deal with other people telling you how you should conduct your business. Meh.

As bootstrapper you have earned the freedom and independence to make your own mistakes, revel in your own success, and work you ass off. The success or failure is 100% yours.

Why is this important to me? It allows me to build the company I want to see. One that does not push useless upsells on their customers to maximize profit, one that can operate from a mindset other then win at all costs, one that has integrity and character. Sure a few extra 0′s in the bank would come in handy from time to time. But I also like knowing that every 0 in there was a result of choices that were made with our values in mind. The soul of a business runs through every aspect of it. Your customers, your employees, and the public at large see it for what it is. Good and bad, motivated by greed or passion. Asshats or elegant problem solvers.

I have a hunch that the majority of startup centers in the nation lean left.

SF, Austin, NYC, Boston, Boulder.. predominantly vote blue in presidential elections.

Infrographic: Graph the last 5 presidential elections and the number of startups, or successful startup exits, or successful startup IPO’s by city. We know tech is an easy one, but what about finance, energy, or bio tech. Are certain types of startups more red or blue?  Is it based on geography or industry?

I have a feeling liberals are better  (high paid knowledge economy) job creators over the last 20 years.

This came thru the GangPlank backchannel today.

We interrupt your regularly scheduled programming to remind you that it’s okay to “Be Dangerous’.

The warning signs of defending the status quo

When confronted with a new idea, do you:

• Consider the cost of switching before you consider the benefits?
• Highlight the pain to a few instead of the benefits for the many?
• Exaggerate how good things are now in order to reduce your fear of change?
• Undercut the credibility, authority or experience of people behind the change?
• Grab onto the rare thing that could go wrong instead of amplifying the likely thing that will go right?
• Focus on short-term costs instead of long-term benefits, because the short-term is more vivid for you?
• Fight to retain benefits and status earned only through tenure and longevity?
• Embrace an instinct to accept consistent ongoing costs instead of swallowing a one-time expense?
• Slow implementation and decision making down instead of speeding it up?
• Embrace sunk costs?
• Imagine that your competition is going to be as afraid of change as you are? Even the competition that hasn’t entered the market yet and has nothing to lose…
• Emphasize emergency preparation at the expense of a chronic and degenerative condition?
• Compare the best of what you have now with the possible worst of what a change might bring?
• Calling it out when you see it might give your team the strength to make a leap.

http://sethgodin.typepad.com/seths_blog/2011/08/the-warning-signs-of-defending-the-status-quo.html

“But it takes time to reach product/market fit. Founders have to choose a market long before they have any idea whether they will reach product/market fit. In my opinion, the best predictor of whether a startup will achieve product/market fit is whether there is what David Lee calls “founder/market fit”. Founder/market fit means the founders have a deep understanding of the market they are entering, and are people who “personify their product, business and ultimately their company.”

source

not to toot my own horn too much, but this has worked well for Sally and I