Revenue is Sales
Revenue > net profit
Revenue > cash flow
net profit != cash flow
Edit: I missed the bullet point about their 97% margin. 97%! Probably gross margin, but still...I am in the wrong industry.
At any rate, I want a fairly tight window between getting the revenue stream started and getting funded enough to make a living and hire more people. Any advice for keeping the size of that window down?
My best advice is not to drop your work for as long as you can
until you see traction. In our case, Joel only stopped working after
we hit ~$1k in monthly revenues.
(read: http://joel.is/post/6687368692/startup-bootstrapping) and I
only dropped out of College a lot later after Buffer actually had
already received funding and was supporting a team of 5.
I think the key might be to only drop your work once your
revenues are enough to support you. So I would try and make that
window almost 0, in our case working nights and weekends is a
great way to get there.
Right now, it's 20+ hours a week on the startup in my "copious spare time". What worries me is the pain waiting for me when the rubber meets the road... the support time and emergency fixes needed when I have real, paying customers. That's when the conflict between dayjob and startup will truly loom large.
But what the hell, I WILL make it work. I'm done with working for other people. I've already signed my Declaration of Independence, but if I want my freedom, I'm going to need to survive my Valley Forge as well.
Looking at the Team slide, they have a decent amount of social validation from their advisors & previous investors. I'm guessing this was critical for getting the intro's to ~200 prospective investors.
Loved the layout of the competition slide.
What we found was that if we can help someone go from sharing once a day to 5 times a day, that would help them much more than if we were to assist them in sharing that 1 post at exactly the right time. That's why we've kept much more on the side of pushing forward with integrations and simply making it easier to add content to Buffer rather than working too much on the intelligent sharing.