Nobody asks a dentist or a landlord to come up with a "good idea" but software entrepreneurs for various reasons are socialized into believing that it is a necessary part of successful software companies and more prestigious than e.g. meat-and-potatoes sales execution.
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"What do these companies *do*, Patrick?" Mostly, verticalized workflow web-and-or-mobile applications. Workflow: there's a business process which is managed now by humans. Your job: make them more efficient. Verticalized: Your customers are very similar to each other.
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That's not the traditional definition of "vertical" but it's operationally the important thing for small software companies; customers being similar makes your product challenges more tractable, helps bootstrap marketing and sales by reducing it to "Find everyone like X", etc.
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what funding models do you see small companies tending to take? VCs tend to want outsized returns (though there's
@tinyseedfund!!) so I'm not sure what other options there are -
I'm so pumped for TinySeed (disclaimer: tiny LP) and similar things, as I think there are few good scaled options here. Overwhelmingly founders use personal savings, family funds, sometimes moonlighting or consulting, and credit cards (!) then grow from revenues.
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Are you thinking like the middle market single solution type shop? $20m in revenue solving two specific problems in one industry? Asking because I’ve been reflecting on non-unicorn startups in tech. Seems under appreciated.
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Yep, basically.
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I think I qualify
But how do you define small? Up to 50 employees? -
Call it "less than $50M in revenue."
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This is why it kills me whenever I hear people in SaaS say that all the "easy" and "obvious" ideas have been done. Really? I see so much fruit that's not just low-hanging but lying on the ground rotting for lack of love.
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Would you mind giving a few examples?
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