Bootstrapping is the right way. Pitching to investors (especially VCs) is both a waste of time and wrong. These are two principles I very strongly believe in, and I just read this blog post (thanks Massimo for sharing) by a fellow founder who is living some exceptionally exciting times. It’s true that when you have no other choice than make money to survive, you have no other option that succeed. Here is an excerpt:
I spent, and pitched, and hired, and pitched, and bitched, and pitched some more. I knew I needed to learn how to pitch better, and relished the opportunities to practice, but we were about to be out of money, fast, and I was running out of moves, and investors. Finally in February, I sat down with the team and we had ‘the talk’. March 1 was the end of the money, and it was up to Don (our CTO and my co-founder) and I to take it the last 10 yards. We stared deep into the abyss that day, and questioned every decision that had brought us here.
And then we jumped.
It was time to embrace the insanity. Don sold his car, dropped every expense but his phone, and moved in. I started looking for odd jobs to keep the coffee flowing and the internet on (thank you ayoudo.com!). Shit just got real.