> That being said, you do get the consistency of independence and autonomy. As I watch my peers deal with crappy work environments, losing their jobs, and other bullshit, I just keep chugging along: self-directed and happy to not have to answer to anyone.
Yes, I completely agree.
Bootstrapping, you realize that employment smooths out a lot of issues for you. Like if you're sick for two weeks as an employee, maybe it hurts your OKRs, but you'll be fine. If you're sick for two weeks as a solo founder, that can be catastrophic. And if you need to do something like take parental leave for six months, the company can't just continue on without you like it could if you worked for a large company.
But as you said, you get the consistency of being your own boss and directing your own time, which more than makes up for it for me.
Almost all growth was done via word of mouth. There are business models whose network effects lean in this direction. In order to use my product, you must bring along peers so it's inherently 'viral'. I fell into this by accident rather than by some grand design, but it became obvious to me after I saw it happen. Design a business in which the flywheel can spin without you, if you don't want to spend your time marketing.
My next business that I'm working on is B2B, so I'll have to have a much stronger handle on marketing and sales. But I'm more ready for that now, after a decade of running a B2C business.
Don't bother spamming with FAANG, as the conversion rates are still hypothetical for many. Go to trade shows, and note how sales people operate with the public... hint, the big deals are never done on the floor area.
The sales conversion rates and tax postures will determine if this type of business is viable in your area. =3
I've witnessed many firms run the gauntlet with varying levels of success, and would suggest the following:
1. sell what the customer already wants, as people with loss aversion stick with what they already know.
2. sell what makes customers feel good buying, and reward them with actual functional utility in their life
3. Never compete, focus on service with a novel niche product. Stupid people by their nature destroy everything around them regardless of long term benefit.
4. Never hire people unless absolutely necessary, and contract with tax responsibility clauses when possible.
5. Never buy equipment unless absolutely necessary, or lease when possible
6. Never enter legal or subscription agreements even with your own legal specialists feedback
7. Never become a poser burning $170k/month on labor in a vestigial office
8. Position your firm to leverage tax and grant programs
9. Stay quiet (especially online in a sea of cons), and only talk about the distant past when people try to goad you into telling them how you make revenue
10. Avoid bums in suits as many are dangerous well practiced thieves. Never let technical staff talk with the customers, or vendors. Some people go crazy when they see a bit of money, and do not behave rationally.
11. There must only be 1 president, and all agreements must be in contract form.
12. Never risk more than 15% of annual revenue on ANY deal. Customers lie and disappear on rare occasion... Large firms can grab your firm like a dog with a rag doll, and may still stiff you on the contract knowing the legal and fiscal power asymmetry
13. Chasing customers means your business model still needs work. If people are happy with what you are providing, than growth should naturally happen every year
14. Go to trade shows to see what other people are selling, and ask yourself what else does the customer need
15. Cash is king, as long as the money flows most other problems are irrelevant
Best of luck, =3