Because we're acutely aware of the fact that we’re not creating a new market but entering
an established one our business philosophy is that of a flashy startup. Rather than raise
a bunch of venture capital and run at a high burn rate in order to gain market share we’ve
chosen to grow organically. There are several positive aspects to organic growth and
certainly a few negative aspects as well. On the positive side: no matter what happens in
the market we will never run out of operating capital and be forced to close our doors.
On the negative side: running a business and growing slowly isn’t sexy and we probably
won't get a ton of press.
Rather than measuring our success by hits, uniques, eyeballs,
or some other common vanity metric, we measure our success in profit. It’s an old school
boring approach to business and the biggest disadvantage that we will suffer because if
it is that should we ever sit across the table from investors or acquirers we’ll be
forced to value our company using formulas learned in Finance 101. The very worst thing
about being profitable is that your company has a fairly established value range based
on the scale of your profits. On the other hand, if we were spending $1mm per month on
headcount, advertising, conferences, and fancy office space but we didn’t have a penny
in profit we could argue that we’re worth a billion (or two) dollars. I suppose the moral
of this story is that if you’re going to build a business whose yardstick is profits,
you better be in it for the long haul.
We’re proud to say that we are in it for the long haul. We’re also proud of creating
something that helps so many other businesses. If you’re thinking about partnering with
us and your business philosophy is similar, we’d be happy to engage with you. If you’re
an interested investor you’ll probably be disappointed to learn that phrases like
"burn rate" make us feel dirty. If you’re a potential employee, you
should be happy to know that if you come work with us you will have job stability and a
great opportunity to build a long term career and grow with the company.