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Founder's Journey: Getting out of the startup rat race

I’m done. I’m bowing out of the startup rat race.

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Josh Pigford@shpigford · Founder of Baremetrics, maker of beards.
I’m done. I’m tapping out. I’m bowing out of the startup rat race. No, we’re not shutting down Baremetrics. Very much the opposite. I’m just finished subscribing to and following the traditional startup mentality as we build our company. In June 2016, I realized we had less than two months of runway left. We had an existential crisis on our hands, the kind that you’ve read about hundreds of times. The kind where the business was there one day, then all of the sudden just…wasn’t. We were just burning money way too fast. We had to course-correct very quickly. The whole team took a 15% pay cut and I took a 30% pay cut. Long story short (a story that I’ll write about more in depth in the next month or so), we got back on course. Everyone is now back up to full salaries and we’re profitable on top of that. We’ll be a million-dollar company by this summer. But getting here has been quite the struggle. https://blog.baremetrics.com/get...
Ben Tossell@bentossell · Community Lead, Product Hunt
@shpigford crazy! like that you are publishing the story
Josh Pigford@shpigford · Founder of Baremetrics, maker of beards.
@bentossell Thanks Ben! 🙌
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Josh Pigford
Maker
@shpigford · Founder of Baremetrics, maker of beards.
I’m done. I’m tapping out. I’m bowing out of the startup rat race. No, we’re not shutting down Baremetrics. Very much the opposite. I’m just finished subscribing to and following the traditional startup mentality as we build our company. In June 2016, I realized we had less than two months of runway left. We had an existential crisis on our hands, the kind that you’ve read about hundreds of times. The kind where the business was there one day, then all of the sudden just…wasn’t. We were just burning money way too fast. We had to course-correct very quickly. The whole team took a 15% pay cut and I took a 30% pay cut. Long story short (a story that I’ll write about more in depth in the next month or so), we got back on course. Everyone is now back up to full salaries and we’re profitable on top of that. We’ll be a million-dollar company by this summer. But getting here has been quite the struggle. https://blog.baremetrics.com/get...
Ben Tossell@bentossell · Community Lead, Product Hunt
@shpigford crazy! like that you are publishing the story
Josh Pigford
Maker
@shpigford · Founder of Baremetrics, maker of beards.
@bentossell Thanks Ben! 🙌
Loic Jeanjean@jjloic · Head of Marketing, Advisor Websites
Hi Josh, thank you for wearing your heart on your sleeve and sharing this story (and article on medium). I agree with your comment about Jason Lemkin vision on what it takes to be a successful CEO. You don't have to work 16hrs day, 7 days a week to make it. Don't get me wrong, I love SaaStr and he as been an inspiration for me for past 4 years, however, I feel that most of their content is focused on hypergrowth, which is not necessarily the best option for YOUR startup. Anyways, keep up the great work and awesome podcasts!