I don’t see signs of this yet. We’re still seeing the same level of companies with traction come through each time we run an application process for TinySeed (accelerator focused on bootstrapped SaaS).
But realistically, there are a couple camps in bootstrapped SaaS. Folks who want to build an audience (often by “building in public” on social media), then hope they can monetize it. And folks who focus on non-audience-driven marketing and sales.
We only fund the latter, so take my comment with that context.
I should have guessed this was your handle Rob :)
I listen to your podcast whenever I need a boost, but somehow never made the connection that you are one of "us", here.
If you'd like to get some scandi guys on your show, I am a GP at www.likeminded.vc, and connected into the community around Copenhagen and the nordics.
100% I would move out of the bay area if I had the means and I was bootstrapping.
I grew up in the East Bay, but I bootstrapped my companies in New Haven, CT and Fresno, CA, both much cheaper to live than the Bay Area.
It happened that my wife was getting her PhD, which is why we moved to those cities, but I commented often that I was grateful that we lived in such low cost of living cities while I was trying to conserve cash and get my companies off the ground.
I run MicroConf, and each year we run a survey and a report called The State of Independent SaaS, where we survey 600 or 700 bootstrapped or mostly bootstrapped SaaS founders. One of the questions we ask is about location.
And unlike venture backed companies, which cluster in a handful of cities, Independent/Bootstrapped SaaS founders are located in more than 340 cities around the world, with the most populated city (London) having only 4% of the population.
You can bootstrap from pretty much anywhere. Personally, in your shoes, I would pick a place with great quality of life and great culture, plus low cost of living. Cities like Minneapolis, Charlotte, Raleigh & Durham, Boulder, etc.
Good luck, you have plenty of runway and I wish you the best on this journey.
Thanks for the kind mention in this article. I’m going to be honest, I started blogging and writing books (and now podcasting) because I was SO TIRED of the vague business advice I saw on the internet.
A couple weeks ago I saw a founder ask: “What podcasts should I listen to for practical advice on bootstrapping a SaaS?” And people responded with suggestions like Tony Robbins, GaryVee, and the Founders podcast (which summarizes business biographies).
Don’t get me wrong, those resources have their audience and fulfill a need. But that’s not what a bootstrapper needs to hear at that point in time. They need specific advice that’s as prescriptive as possible without crossing the line and becoming overly prescriptive. “Rules of thumb” if you will ;-)
That kind of situation is why I started talking about startups. To take an opinionated stance and be as specific as possible. Which is why I focus on SaaS and not entrepreneurship in general.
In any case, I appreciate the mention and consider myself among esteemed company with the other folks mentioned in your essay.
In addition to the content we (MicroConf) have put out on this topic, and the community we’ve built that allows people to find co-founders, we’re also gearing up a co-founder matching service.
But realistically, there are a couple camps in bootstrapped SaaS. Folks who want to build an audience (often by “building in public” on social media), then hope they can monetize it. And folks who focus on non-audience-driven marketing and sales.
We only fund the latter, so take my comment with that context.