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Sole Founder and Bootstrapping – Ashamed to say it?

First of all, I would like to thank the creators of this platform, it is really great to see you are not alone struggling with a startup, in a world where everyone *appears* to have success come easy.

I am a sole founder that created a marketplace. We are doing quite well, with an average weekly growth of 7-8%. However, my problem is that I am a sole founder. At first, I did have a co-founder but the things were not working well because we were expecting really different things from the startup. So I went on alone, hired an intern to create the website and now I have learned to do some technical modifications (I have a business background).

I would really like to find a great co-founder, but I think it will take a lot of time. Meanwhile, when meeting clients and suppliers, I am kind of ashamed to tell them I am alone working in it, because I fear I’ll appear too small and they don’t want to work with us.

For now, I don’t have money to hire anyone and BA/VC won’t give me money because I am alone.

Ever happened to someone here? What do you think? Any advice?

  • It’s not embarrassing to be alone, unless you see it that way. If you can keep your growth going you’ll be fine.

    Finding a technical co-founder is hard, because many biz guys are dead weight and it’s very hard for tech people to tell good and bad biz guys apart. Consider joining an incubator/accelerator. Many of the startup in your class will flame out early on and that gives you plenty of opportunity to recruit.

    Reply

    • Many thanks for your reply. Yes, when they asked me how many people we are, I sometimes “lie” in a sense I work with virtual assistants & Freelancers. However, I don’t feel comfortable because I know that really I am alone managing everything… Good point about tech cofounders, maybe showing the figures and building relationship will lead to someone interesting…

      Reply

  • Solo founder here:

    I can relate for sure. It is easy to feel “less than.”

    First, many or most clients do not need to hear you are working alone. Sure if they specifically ask be honest (but that can even include saying you have a team if you have contractors/interns working with you). For the most part they don’t care. They are looking for whatever solution your problem solves; this is not some bake-off for an enterprise software sale to a Fortune 500.

    Look at the positive: you are growing 7-8% per week. If you can keep momentum anywhere like this without a co-founder you will be in an awesome position. You can decide when and more importantly IF you need one. Maybe you even realize hiring an technical EMPLOYEE makes more sense for you economically.

    Same thing applies to the lack of VC – you are in a better position if you can grow without them.

    One other suggestion: find a local group / network of bootstrappers. It can be a good support group and screens out a lot of the “tech cheerleader” types.

    Hang in there + keep it up!

    Reply

    • Hi,

      Sorry, I mixed both answers here. Yes, that was a long road and I have still a long road in front of me, but I begin to be a little burnt out… My life is my startup and my startup is my life, so I think you are right about the support group.

      Reply

  • Solo founder too. Having a co-founder is not always necessary for success, building something people want is.

    Investors shouldn’t be passing on that basis, so you should find out exactly why they are passing. Your traction looks good, is it the market size?

    Reply

    • Yes, I think the market size is interesting, however it is NOT a billion dollar market. But I prefer to begin in this market and make a product people really want. If it works, we can expand to the world and/or new services.

      Reply

      • Then explain it that way. Are there tangential markets you can expand to later on?

        One that I’ve heard is “we’re starting with a wedge into a much larger market.”

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    • Sorry, but you’re not a special little snowflake. History and data doesn’t lie. Solo founders that are serial entrepreneurs can win, but solo founders that don’t have a successful business under their belt always lose. So much research has been done on this. Books like Smartcuts and even Mastery will help you understand the reality of this.

      In the long-term, its TEAMS that build great businesses. I can’t express how great it is to have a team. It 10X your productivity, motivation, effort, etc.

      Reply

      • “Always” lose?

        Firstly, TEAMS can be built. Who do you think runs the team? Everyone has to start somewhere.

        Being a solo founder means you have to work harder to build the thing you’re selling and also your business. The last time I looked, Apple started with 2 people. However, I’ve seen million dollar businesses with only a single founder. It’s not impossible.

        Reply

  • Solo bootstrapping founder here as well. Why would you be ashamed to say it? It’s the greatest scariest most wonderful thing I ever did for myself career wise. It has taught me more about myself than anything Ifeet ever done. It’s been an amazing experience so far. Absolutely no shame in it.

    Reply

    • Hi there,

      Yes, this is a great pride to see what you have built from scratch, but alone, I feel I am not a “real” company and doesn’t look serious… Did it ever happened to you?

      Reply

      • It’s probably because your startup isn’t getting much traction or the idea sucks. If it has real potential, you wouldn’t be thinking or worrying about these things. You’d be out there hustling and selling your product.

        Reply

  • Solo bootstrapping founder here too.

    If you have 7-8% weekly growth you are doing something right regardless of a co-founder. I have learned (sadly) that a co-founder can be good in the beginning but longterm can become a real problem. Enjoy your growth, hire smart contractors to build out your company and maintain equity for yourself. Soon you’ll have a nice lifestyle business that hopefully will be self-sustaining. Enjoy.

    Reply

  • There’s a term fake it till you make it. Google it. By faking you don’t need to lie to people, just kind of lie to yourself. Pretend to yourself your company is larger than one person and act and speak with a conviction that goes with it.

    Pretend that you already have the team in place. When you talk to people say “we” and FEEL it. If they ask who is “we” you can always be honest and tell them your “distributed team”. But most of the time they won’t.

    You’ll find that it works wonders.

    Reply

    • Yes, that’s a true… But also, I am so stupidly honest that I think people see I am not 100% true, maybe it is just an impression of mine. I was raised to always say the truth (even unpleasant ones), and now I think it is really hard for me to fake it even if I think that would be good for me.

      I think you’re right, and if I want to reach heights, I should believe in our team 🙂 Cheers

      Reply

      • It’s only a big deal if you make it a big deal.

        It’s hard to recruit people to see your cause.

        I say that it’s me, but if I get hit by a bus, backup plans are in place.

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      • Maybe hire a VA through upwork, if you think that would help. Even if you have an intern, Thst’s someone. And that’s a team! Believe that and you don’t have to lie.

        Reply

  • Sole founder here as well. I plan to keep on building the company until I find someone who’s right to bring in. Bring in the wrong guy can kill the spirit. Revenue beats traction beats team. Keep going, generate revenue, the team and investors will follow.

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