A few points that came up:
- Three main entry methods:
- Seek financial investment/partners
- "Scratch own itch" and finance internally
- Sell a custom solution as a product to first customer, then market to others
- Developing internally:
- Benefits: Strong engineering expertise, Can work on it during "downtime"
- Drawbacks: Tough to focus and allocate enough time, Lack of sales/marketing expertise
- When bootstrapped, makes you highly focused on revenue generation and reaching profitability
- Big difference in attitude in Canada vs. United States with regards to VCs and financing
Thanks to Jeremy at JAR Creative for hosting!