BOOTSTRAPPING ★ 4 upvotes 2019

Ask HN: Should I raise, stay bootstrapped or quit?

The Founder's Submission

Direct narrative and submission text authored by @trez on Hacker News:

Hi HNers,

I am Anthony, solo French founder of LiNote. We build a device so obvious to use really old people ( 75 to 100 ) can use it even with cognitive diseases. Their caregivers can video call them, send them reminders, pictures, etc.

I've been working on it for 5 years now. Our MRR is now over 12kE. We were at 4kE a year ago. Our 350 customers love it and talk about us a lot. Yet we are growing slowly at 5-8% a month.

Our team is 4 people only: 1 dev 1 content marketing my girlfriend at operations and simple customer supports me at tech support and "CEO stuffs".

My girlfriend and I love what we do but we provide support 7 day a week, 24H a day. We have worked every day for the last 18 months.

We are about to get cash positive. We haven't raised money but from family. I am now able to pay my girlfriend and I enough to live decently but far from what I use to earn as a python dev.

We aren't at product market fit yet but our retention is great and we think we are on something but our dev is busy with bug fixes and tiny improvements.

I am getting worse at selling my vision the more operational tasks I do and the more time I struggle with the company. 1000 of customers seems far when you fight for 20 each months.

I've talked with local investors but that didn't work 3 times. I wasn't really committed and feel disconnected to their way of thinking ( hire blindly, build partnerships with big companies). Local investors doesn't seems knowledgeable.

I can't decide between staying bootstrapped which fit us better but the road seems so long before being able to live comfortably and before being able to hire new critical people.

Raising money is a good option to grow faster but not being at product-market fit seems like a non-optimal time to raise. I sometimes feel like I am being stubborn and if anything big should have happen, it would have already happened before.

I am sure the HN crowd would have insightful comments.

Retrospective Overview & Key Insights

Distilled analysis of the business dynamics, operational challenges, and strategic takeaways:

Published in 2019, this chronicle by @trez details the mechanics of building a profitable, self-funded business without venture backing.

Core Principles for Independent Builders:
1
Charging customers from day one acts as the ultimate filter for building software that solves genuine, high-urgency problems.
2
Keeping fixed overhead low and leveraging lean infrastructure allows founders to stay alive until market tailwinds kick in.
3
Small, repetitive improvements in customer retention and conversion rates yield massive returns over multi-year horizons.
Community Debate Themes:

The community focused on B2B customer acquisition channels, cold email vs SEO distribution, and balancing full-time employment with side-project development.

Community Discussions & Critical Reviews

High-signal perspectives, counter-arguments, and peer founder insights debated on Hacker News (3 total discussions):

BE @bellwether Peer Contributor

Some questions that I hope will help :)

For growth: How much do your competitors make? Where and how do they market products?

For brand: Why did you build this product? Do you feel you can still fulfill your mission?

For options: Does this need to be a full time business? Or, can you run it part time for additional income?

ST @staticautomatic Peer Contributor

Who are you marketing to, through what channels, and how much does the product cost?

HISTORICAL ERA Cloud & Mobile Era (2014–2019)
COMMUNITY SCORE ★ 4 points
TOTAL DISCUSSIONS 3 comments
TOPICS & TECH STACK: