Skip venture money and put each year's profits back into the app

Andrew Maguire… dollar a year business with no venture, own the whole thing, and that's awesome. And you have to respect what type of business it is. It's not just what do you hope it could be? It's like some companies have the space to become massive if you execute really well. Others you can execute incredibly well and they're just still not going to get that big. So just align the capital strategy to reflect what type of company you're trying to build.

Jacob EitingAnd include not just cash capital, but your time and not just your hours, but the years of your life. If you're going to spend five, 10 years on something or two years on something, know what your possible best outcome is and make sure that's aligned with. I won't disclose too much, but I just spoke with Curtis from Schlups who've had on the podcast and famously bootstrapped. I think they're, I don't know, 12 people now. I don't know. The company's in every year he just reinvests and keeps going and it's like he's built a really amazing business and he's very happy with how it is. He's built a great product with a good team and they have space to build and probably maybe could have been a venture thing if he wanted to do that, but was very conscious. He did a very thoughtful and conscious way of choosing how to build that business.

Jacob EitingThat's the kind of thoughtful decision-making people should be making.