Bootstrapping A Product Company Version 2
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This document summarizes Dorai Thodla's experience bootstrapping his product company iMorph. He started iMorph to pursue projects that interested him after his previous company was acquired. iMorph developed products like InfoMinder and InfoFeeds using a small team and outsourced development. Thodla shares reflections on entrepreneurship such as the importance of having fun, imagination, and riding trends. He poses many questions entrepreneurs should consider regarding funding, business models, markets, and staying informed in this evolving industry.
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Bootstrapping A Product Company Version 2
- 1. Bootstrapping A Product Company Dorai Thodla iMorph, Inc. www.thodla.com/about
- 2. Current Startup: iMorph Why? Some one bought our previous company and I did not want to work there The startup Itch Trying to find a cool way to spend my life How? Lucky to have some seed money to start Trying various experiments – a small team, outsourced development, living across two continents (again) Bootstrapped What? InfoMinder – a tool for tracking information on the web InfoFeeds – an enterprise RSS aggregator and Alert Engine Information Portals (for NASA, Opencourse.org an NSF funded project) Talks, Seminars, Workshops Product Strategy Consulting Learning Wikis/Portals (Research) Some interesting tech explorations and pro bono work HyperScope with Doug Engelbart Innovation Center at NTTF Started several social networks on Ning Helping Entrepreneurs Teaching
- 3. Reflections This internet business is very different Different value propositions, different business models Scratching your own itch is good, but… Lots of things to Learn Social Media Marketing, Subscription Models, Leveraging Trends, Staying Informed The New Watering Holes Blogs, Participate in Social Networks, Twitter
- 4. More Reflections Role Models Shape Philosophy People: Dan Bricklin, Mitch Kapor Companies: Peter Norton Computing Having fun is as important as making money Small is Beautiful Imagination is more important than knowledge (stole this from Einstein) Being an Entrepreneur is a Life-style decision (not easy to go back) Life is full of small pleasures Entrepreneurship is a journey, not a destination
- 5. Lots of Opportunities Web 2.0, Web 3.0 … Multi-core Scalable Apps Social Networking for Specific Domains Data Integration, Pipelines Information Visualization Special Portals (Sharepoint, Drupal) Social Applications? Mobile Applications? Education/Learning? New problems New opportunities?
- 6. Questions! Questions! Funded or Bootstrapped? Local or Global? Products or Services? Give it Away or Charge for it? Breadth or Depth? Low-end or high-end? Use a platform? Or Be a platform? Tools or Applications? Improve Existing Product or Build New Product? Incremental Innovation or Radical Innovation? Established categories or New Categories? Do I scratch my own itch or find a few people with itches? Small or Big? Direct Sales or through internet? Java or dotnet?
- 7. And More Questions What is the business model? How does the world know we exist? How do we keep up with information? How do we validate an idea? How do we know what it is worth? How do we know that there is a market? How do we get your first customer? How can we be different? What if I am a marketing guy? What if I am a techie with no marketing expertise? How can we ride a wave? How do I catch one?
- 8. Is A Startup On Your List? Are you a student? Currently employed? An Entrepreneur?
- 9. Questions? www.thodla.com/about [email_address] www.twitter.com/dorait www.delicious.com/dorait