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There's No Myth, Only Years of Hard Work
Written by Allan Branch on Nov 6
service business bootstrapping
service business bootstrapping

I recently read Richard Banfield’s article “The Myth of the Design Studio Turned Product Company.” The five-sentence version of Richard’s article is this…

Years ago, 37Signals inspired Richard Banfield to push his web consultancy, FreshTilledSoil, into building a SAAS product on the side in the hope of becoming a product company. Creating a SAAS product distracted Richard and his team from client services. The design, marketing and development cost his company a crap ton of money, plus opportunity costs. Now years later, Richard has not reached the place that 37Signals originally inspired him to seek.

Disclosure: I don’t know Richard or his life goals but I think that summarizes the article. I don’t know how he runs his company, or anything about his product. But I can do some myth busting of my own.

Like Richard, Steve and I have a similar story albeit slightly different. Like Richard, we started reading 37Signals writings in 2005 and were blown away. It cut to our core beliefs. Finally, someone had the same feelings about products and business as we did. OMG! In late 2006, Steve and I started working on LessAccounting, and over the next five years we SLOWLY crept in and out of being a consultancy. I say “in and out” because we’d take a client project periodically to gain a cash infusion. As it stands today, we’re not rich and certainly...

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