Startups For the Rest of Us

Episode 615 | Bootstrappable Businesses, Cargo Culting, and How Pricing Affects Growth (A Rob Solo Adventure)

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Aug 9, 2022
Explore what makes a business truly bootstrappable, focusing on revenue timelines and market dynamics. Discover the pitfalls of cargo culting and how it can mislead entrepreneurs into imitating success without understanding its roots. Delve into strategies for effective marketing and commitment, emphasizing the need for focus over multitasking. Finally, unpack the complexities of customer lifetime value and pricing strategies, revealing how they can significantly impact business growth.
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ADVICE

Bootstrapping Advice

  • Bootstrap your business unless it falls into specific categories.
  • These categories include delayed revenue, winner-take-all markets, and hardware businesses.
INSIGHT

Startup Funding Landscape

  • Roughly 1% of startups are suitable for venture funding, 9% for indie funding, and 90% for bootstrapping.
  • Indie funding targets smaller outcomes than venture capital, changing the landscape.
ANECDOTE

Cargo Culting in Startups

  • Cargo cults imitated soldier behaviors to bring back supplies, misattributing the cause.
  • This mirrors startups blindly copying successful companies without understanding their context.
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