Sramana Mitra: How did you get it off the ground? Did you bootstrap it, did your raise money, or use your own money? Andrew Witkin: I realized that I wasn’t in a position to self-fund this. I was not technically smart enough to code this. I needed to hire a development team. I wrote a
Sramana Mitra: How much did the equipment cost you? Michael Nemeroff: I remember the bill was about $10,500 for the initial investment. Then there’s all the ancillary stuff like the inks. I couldn’t tell my friends about it because I didn’t know if you’re allowed to have that equipment inside the house. We just kept
Andrew Witkin: I was fascinated with the experience of building blocks and observing the behavior of children. I was fascinated with digital marketing because of all the customization that you could do. Facebook had just started to come. This was 2007. We also owned a craft company that did coloring crayons, markers, and stickers. I was
Sramana Mitra: Who was making these t-shirts? Michael Nemeroff: They had a friend in the industry who did the printing for them. It wasn’t a partnership. It was like, “I have my own business. Do you want to start your own?” They went to the same guy to do the printing. Sramana Mitra: You decided
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Andrew started with a B-to-C idea but has built a business that is primarily B-to-B from a revenue standpoint. Learn more about the nuances. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. From setting up a printing machine in the dining room to $23 million in revenue, Mike’s RushOrderTees journey is one of steady, diligent execution. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were your born, raised, and in
Sramana Mitra: What are some of the inflection points in the business when things started clicking in gear? We’ve talked about one of the key issues which is really turning into this metrics-driven organization. What other inflection points have you experienced in building this business? Josh McCarter: I think there are a few. The early
Sramana Mitra: What is your conclusion about where you wanted to pin your customer acquisition cost? How does that correlate to your lifetime value for your SaaS business? Josh McCarter: All of the benchmark studies say that you need to be north of three times LTV. That seems to be the number where people feel