Critical learnings over the last 6 months as a solo(ish) & bootstrapped founder (and how you can use them):
1. De-prioritising co-founder and investors puts you at a disadvantage. Here’s how you find leverage elsewhere:
Being solo or bootstrapped means you cripple yourself with: A. Less human capital and B. Less financial capital, so how do you compete with your peers?
My primary source of leverage was (like most people today), AI.
The key thing with AI systems is you need iteration & best practice consolidation to improve it. Something inefficient? Improve the skills & workflows once, and they will become future leverage to take you further.
Another source of leverage is having distribution channels already set up (i.e. a large network/following of your target audience). If you don’t have this; you’re going to have to build it.
2. Reflection is the MOST critical activity pre-PMF, regardless of whether you are bootstrapping or not.
Leverage is great, but having huge resources working towards the wrong direction is still pointless.
The way to properly reflect requires a breather and a step back. I like to ask myself two questions: “What is not in my control?”; and “What is all the feedback actually saying? What am I assuming”
When I realised I lowkey just need to get better at being visible in front of my target audience, that helped me achieve actual results. No shame in admitting that.
3. Bootstrapping or solo-founding should always be a means to an end, not the end goal
I sincerely believe the ultimate goal for any ambitious founders, is still to give themselves the best shot for the highest return.
In that sense, it actually makes very little sense to bootstrap or solo-found. Why should you compete with one arm tied?
I think bootstrapping gives you a great way to get started, when the business is not aligned with a strong raise yet.
And being a solo-founder allows you to take your time finding the right people to cofounder or hire.
Neither of these things should glorify bootstrapping or solo-founding. When it makes sense to raise, or bring someone on, do it.
Stay safe out there and don’t get carried away!
