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Vivek Bhaskaran
Bootstrapping
Why I did it
The VC (Not Greg G) (Not Greg G)
Our Business Plan Make Fucking Money!
Customers = VC = $$
Guerilla Marketing <ul><li>SEO </li></ul><ul><li>Book </li></ul><ul><li>Vaporware </li></ul>
Agile Revenue
Brother-In-Law Deal
Find Your Market Fast
Co-Founders
Friends
Break Bread  (Or get Wasted) (Or get Wasted)
Its the Journey Though we have heard of stupid haste in war, cleverness has never bee n seen associated with long delays. ...
Questions? @vivek1105 [email_address]
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Bootstrapping Your Startup - Vivek Bhaskaran

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Growing your startup successfully without taking outside money by founder of Survey Analytics and successful bootstrapper Vivek Bhaskaran. Presentation given at StartupDay 2010.
http://www.seattle20.com/startupday

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  • -how QP started -awards -how we’re doing now.
  • -its for people that don’t have inheritance or trust funds -its for poor college kids like me that only (at the time) knew how to smoke weed, not talk to VCs Caveats - - Good - Software (Saas, Cloud etc.) - B2B - Bad - Capital Intensive - Car
  • -I was poor college student -I didn&apos;t know even know what Angel/VC funding was -tell story of working with professor? -80% of VC funding fails - I didn’t want to accept that failure rate
  • -I’ve always been my own boss --tell story of having a zillion bosses as a consultant --non of them know their head from their ass -I can be more honest with myself and my colleagues --if something sucks, I say it sucks --if I have an idea thats a bad idea, my collagues can say so (mostly - laugh here) -I’ve always retained control -don&apos;t have to spend 1/2 of your time appeasing VCs
  • You’ve heard this a million times, but I’ll re-iterate: a startup is about writing the business plan. It could not be more prevalent in the world of bootstrapping. Everyday I’m working on our business plan. If I can’t recite the current business plan of the hour in my head, then I shouldn’t be in business. So writing it down is fruitless. Business plans are just a checkbox for a VC firm to feel [slightly] better about their investment. It means nothing for a real bootstrapped business. What am I gonna do, write a BS business plan and then submit it to myself for review and approval? (snicker)
  • - Ask for money
  • -millions of brand decisions when you run a business -when bootstrapped, you may feel like the underdog and back down on deals --do not give in - preserve your brand at all costs. --this is the stepping stone to move up the chain/crossthe chasm - SEO before SEO was cool - Cloud before cloud was cool - SaaS - ASP
  • -A startup, at its very core, is about writing a business model (not executing a business model) -at a bootstrapped startup, revenue is always the #1 goal -its built into our DNA from day one. -its not something thats deferred as a later problem (like funded startups) -there are two types of businesses: ones that are executing a business model, and one that is writing the business model (we’ll talk about this more later) --when revenue is day one objective, you are always writing the business model. --fans of the 4 steps to the epiphany and understand what I mean when I talk about this.
  • -millions of brand decisions when you run a business -when bootstrapped, you may feel like the underdog and back down on deals --do not give in - preserve your brand at all costs. --this is the stepping stone to move up the chain/crossthe chasm - SEO before SEO was cool - Cloud before cloud was cool - SaaS - ASP
  • -being small is better advantage than you think -being small forced me to find my market as fast as possible - I didn’t defer this -Art of War quote here (harass, attack head on, wear down) - Example of IdeaScale - Feature of a tool, then a separate brand, and then a website and now a separate company alogether
  • -Find Co-Founders that are in the same risk category --this is more important that you think --if you are single and see no difference between sleeping under the desk, at a friends house, or on a real bed, then don’t pair up with a family man
  • Hire Friends! -common myth that hiring friends is bad -I can be more honest with friends --I can tell them their work sucks, or be sincere when its great. --I make it clear that its my company -I know what I’m getting myself into -It actually doesn’t bother me to fire friends either (ok maybe the first one was hard) -I know whose in for the long haul much quicker than if I hire someone off the street -also, dealing with friends has made me better at hiring strangers, as my company has grown.
  • -always break bread --even with your enemies - talk about how Dave Sliwa / Ad Ready - Madrona -
  • -thanks to Marcello -thanks to startupday coordinators -hope I didn’t update any VCs in the audience - I still love you guys (sorta)
  • Transcript of "Bootstrapping Your Startup - Vivek Bhaskaran"

    1. 1. Vivek Bhaskaran
    2. 2. Bootstrapping
    3. 3. Why I did it
    4. 4. The VC (Not Greg G) (Not Greg G)
    5. 5. Our Business Plan Make Fucking Money!
    6. 6. Customers = VC = $$
    7. 7. Guerilla Marketing <ul><li>SEO </li></ul><ul><li>Book </li></ul><ul><li>Vaporware </li></ul>
    8. 8. Agile Revenue
    9. 9. Brother-In-Law Deal
    10. 10. Find Your Market Fast
    11. 11. Co-Founders
    12. 12. Friends
    13. 13. Break Bread (Or get Wasted) (Or get Wasted)
    14. 14. Its the Journey Though we have heard of stupid haste in war, cleverness has never bee n seen associated with long delays. -Sun Tzu, the Art of War -Sun Tzu, the Art of War -Sun Tzu, the Art of War Text Text Unless its 10x EBITDA
    15. 15. Questions? @vivek1105 [email_address]
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