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Does anyone know of any Debt Free startups. Am wanting to ask a few questions of them since I am looking to start a company, but hate debt since it clouds my judgment. I am wanting to learn from startups that started debt free and have stayed that way. I hope this is an okay question to ask here. |
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Avoiding debt is a pretty simple formula, have income greater than your expenses. To do so means you will have to do one or more of the following though.
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My company has been in business since 2002 and has been profitable every year with no debt. I started off consulting while at the same time building a product, getting contacts in the industry and growing the customer base. As our software matured and the revenues grew, I slowly phased out consulting work. We are a tiny firm (4 employees) but I like it that way and we do okay revenue-wise. Like you I am very debt averse and don't like outside investors (or partners) telling me what to do and diluting my equity. It is a much slower way to grow your company and requires lots of patience (and luck). |
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ROb Walling has written a book and loads of articles on boot-strapping business. His blog at http://www.softwarebyrob.com/ is well worth a look. |
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I have just started a blog for companies who want to be debt free. Check it out and help start the community. |
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Talk to Jason Cohen about how he did it with his previous startup (Smart Bear). |
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