David Heinemeier Hansson of 37signals and the creator of Ruby on Rails delivers a must-see speech on the merits of running a sustainable business without the desire to get bought out by a conglomerate. To set the stage, David is speaking after attendees have just been taught, by speaker after speaker, how to pitch VC's and get high-level financing for their business.
The counter-argument is the so-called 'mom and pop shop' of the Internet
that fills a niche and charges for it's services in order to create consistent revenue and profit. The numbers are simple; with the large number of online consumers and the relatively low overhead of most Internet businesses, consistent cash flow can keep you wealthy and happy for years. Find the hole in the market and create a product to fill the void. This idea is only rational because, as David points out, selling your business to a large company is the equivalent to winning the lottery.
Tuesday, February 2, 2010
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