Transition to Traditional Funding from Personal Bootstrapping is a big decision!

My wife said to me tonight as we where taking the kids to see “CHI” here in Honolulu, honey you have been running at 250% for about 10 months straight don’t you think it’s time to take a break. Not wanting to make her feel bad for caring I know in my heart that this is only the beginning, I look back at what has been accomplished over the past 10 months and realized we are just getting going..

The challenge when bootstrapping a startup yourself and having to work a full time job to boot there are only so many hours in the day, and if I had 3 clones they all could not get done what needs to be done on a day by day basis.

With one company firing on all cylinders cash positive but needing a little nitro, and a second getting ready to launch it sure has been interesting. Although I had not planned on starting a second company this year I really had no choice as the ideas in my head that were time sensitive needed to be implemented quickly required partners, and I simply could not do it myself, it was just easier to formalize a second company and keep the two enterprises separate.

I told my wife though that a lot more long nights are ahead, and all kinds of excitement to boot. As thing have progressed, I have resigned myself to the fact I need some staff. Did I mention I am taking two college classes at all times, on top of this. Personally Bootstrapping a business comes with risk and it’s time to take the business plan #1 to the bank, being cash positive will help but hiring some help will require some real money and hopefully the bankers will like what we have to show them . The goal then will be to find 2-3 people that can work independently and like to work like I do, that will be the challenge.

About geeknews

Todd Cochrane is the Founder of Geek News Central and host of the Geek News Central Podcast. He is a Podcast Hall of Fame Inductee and was one of the very first podcasters in 2004. He wrote the first book on podcasting, and did many of the early Podcast Advertising deals in the podcasting space. He does two other podcasts in addition to Geek News Central. The New Media Show and Podcast Legends.