Building Astropad Podcast Episode 22: Our approach to bootstrapping, the snowball effect
Subscribe on Apple Podcasts, Spotify, Overcast, YouTube, or anywhere you get your podcasts.
Most startups raise money from investors, but what if there was a better, more sustainable way to build a company?
On this episode, Matt and Savannah break down how we’ve bootstrapped Astropad from nothing to a multi-million dollar business. We talk about why we’ve opted not to raise money from investors and how our approach has shaped the company, from hiring to what products we build.
Matt talks about working for a venture capital-backed startup and how that experience turned him off from pursuing VC money. Hear how we instead rely on what we call the “snowball effect” to tackle bigger problems and grow the company.
Bootstrapping isn’t for everyone, though. We talk about the biggest limitations of bootstrapping and why it can feel like sometimes “sailing into the wind.”
Finally, hear about the times Matt does think it’s a good idea to take VC funding (and if would he ever consider doing so) 👀
On this episode, you’ll learn:
- How to decide whether to raise money or bootstrap
- Why we’ve opted not to raise money
- Our “snowball” approach for bootstrapping
- The biggest downsides to bootstrapping
- The main differences between bootstrapped and VC startups
Links and resources