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Funding for Bootstrappers


#1

It may seem contradictory for Bootstrappers to take funding, but that’s exactly what two investment funds are offering:

  • TinySeed is pitched as an incubator and is co-founded by Rob Walling of MicroConf fame.

We help you move from nights and weekends to full-time focus, and through guidance, advice, and mentorship from founders who have been in your shoes. And we do this all without the headache of traditional fundraising, loss of control, or the pressure to build a unicorn.

We make seed stage investments in bootstrappers, indiehackers, makers and real businesses.

If you are starting to get traction but still not able to quit regular employment, these could be helpful.

In the early stages of my company, I would have definitely been interested in these.


#2

Strangely but I’ve talked recently with some folks in Bulgaria who claimed that $250K is not enough for starting a SaaS business. I cannot imagine how much would be needed elsewhere …


#3

It seems to me that that funding is for “grown-up” bootstrappers who’ve solved the market fit equation and got the initial sales coming. At that point they need funds to spin that machine faster.

Taking money earlier than that is a waste for a first-time bootstrapped, because we (me’d be the best example) have no foggiest idea what to do with all those money, let along do it efficiently.

As someone argued, at the stage when company brings in enough sales to cover its costs, it is not anymore a bootstrapped but a self-funded business. Self-funded is ready to take some seeding money.

Depends on SaaS business. Not enough to build a Facebook clone, but may be enough to build, say, Thermostat NPS.


#4

Thia might have less to do with SaaS, and more with a consulting “salary” in comparison.