Loving this story via FreshBooks and how it took them quite some time to make revenue that would sustain them:
The road hasn’t been easy. It took over 16 months to bring a product to market. When we launched no one cared and 24 months after starting we had only 10 paying customers and revenues of $99 per month. We moved into my parents’ basement for 3.5 years. But despite all the evidence pointing to our failure, we carried on. Why? We loved our customers, our company and working together, and we’d discovered a passion to serve others.
I’ve spent my time in basements and shared living. I did it with my parents and even some good friends. Starting a business takes sacrifice and the cost is high, not just financially but also emotionally.
The sacrifices that some have made at the startup altar have been incredibly large – my wife, in particular, has sacrificed much so that I could pursue the things that captured my attention. She hasn’t given up on me, defying all logic.
FreshBooks continued to grow and they have more than 5MM people that have used their service. They are profitable and proud, but it took a heckuva long time to get there.
Although I haven’t spent 3.5 years in someone’s basement I’ve cumulatively gotten close. If you add the time I spent above my parent’s garage and my friends basement bootstrapping a company it’s more than 2! You don’t have to physically be in someone’s basement though to feel like you’re in the metaphorical “basement” of your business and have only glimpsed the bright sunlight a few times – just enough to keep hope alive.
When people ask me why I do what I do I tell them that I love it. It’s 100% true and also 100% incomplete – I don’t always enjoy the long hours, the never-ending work, and the anxiety that nips at your heels as you lead an organization. Trust me though, at least for me, the alternatives are a living hell comparatively.
The road hasn’t and will never be easy. But it should be fun.
Check out this recent article on successful basement beginnings.
[Photo Credit: Whitlock/Hypepotamus]
