Hey guys -
I wrote about something that’s been on my mind a while but only solidifying as a concept now.
Basically, I wanted to talk about Profitability, because I feel that gets overshadowed by revenue and other metrics. I think for us bootstrappers, that’s really about paying ourselves the salary we need to sustain our continued push to do what we do.
Also, the idea that Profit isn’t just the monetary aspect. If that’s all there is, then we’d all just sell our time for money in order to pay ourselves a comfortable enough salary. This is where, in my opinion, self funding a product business using our income from “client work” falls short.
It’s why I think launching a productized service first gets you there faster, because it can be profitable (financially) very quickly, but also establishes your business/brand/audience/customer-base to fuel other products and give them the oxygen they need.
That’s it in a nutshell, and I fully fleshed it out (with a 3-phase roadmap) here:
I’d love to hear any thoughts or comments.
Here’s to a great 2016!