Bootstrapped vs VC Speed-Scale

Mike Wittmeyer and Kendall Saville share their perspective on bootstrapping versus venture capital funding, drawing from their experience building successful businesses outside of Silicon Valley's typical tech ecosystem. They emphasize control and speed as key benefits of self-funding, while acknowledging potential limitations on scale.

Key Points:

• Benefits of Self-Funding:

  • Complete control over business decisions
  • Faster decision-making process
  • Ability to think long-term without external pressure
  • No need to meet revenue targets set by investors

• Geographic Perspective:

  • Built successful businesses outside Silicon Valley
  • Weren't exposed to traditional VC ecosystem
  • Found ways to succeed without typical tech startup playbook

• Trade-offs:

  • Harder to achieve massive scale ($10B+ outcomes)
  • Growth takes longer due to capital constraints
  • Must operate efficiently and profitably from early stages
  • Watch competitors with funding move faster initially

• Relationship with Investors:

  • Prefer working with aligned partners over traditional VC
  • Look for investors who feel like team members
  • Want collaborative decision-making rather than board oversight
  • Avoid "are we 10x yet?" type of pressure

• Philosophy on Growth:

  • Focus on sustainable, profitable growth
  • Willing to take longer to achieve goals
  • Maintain independence in decision-making
  • Build businesses that can last without external capital

• Learning Process:

  • Found ways to succeed with limited resources
  • Developed strategies to grow without significant capital
  • Built businesses based on cash flow rather than fundraising
  • Learned to operate efficiently out of necessity