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HOT TOPICS
- The Accelerator Conundrum
- The Startup Velocity Question
- Platform as a Service
- Man and Superman
- Web 3.0 = (4C + P + VS)
- The Future: End of Capitalism
- Capitalism 2.0
InRule
Best of Bootstrapping: Bootstrapped Using Services While Navigating a Recession
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Rik Chomko, now CEO at InRule, and his team had to navigate a long journey, including a recession that disrupted one of their key customer segments dramatically. Read our interview from 2014 to learn how they survived. Sramana: Rik, let’s start with the beginning of your
Best of Bootstrapping: InRule Was Bootstrapped Using Services
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Rik Chomko, now CEO at InRule, and his team had to navigate a long journey, including a recession that disrupted one of their key customer segments dramatically. Read our interview from 2014 to learn how they survived. Sramana: Rik, let’s start with the beginning of your
Bootstrapping Using Services: InRule COO Rik Chomko (Part 7)
Sramana: What does the business look like today? Where are you now? Rik Chomko: Last year, we had one of the biggest revenue growth we’ve ever had. We grew revenues by about 45%. We’re feeling very good about our business in Europe and North America. We have good traction in the market. We’ve done a great
Bootstrapping Using Services: InRule COO Rik Chomko (Part 6)
Sramana: In that timeframe, what kind of numbers were you doing? Were you still operating organically? That’s one million in financing and then you’re operating organically, what are the metrics of the business at this point? Rik Chomko: Back in 2005, we were operating organically. But 2005 and 2006 was quite a big jump for us. We increased
Bootstrapping Using Services: InRule COO Rik Chomko (Part 5)
Sramana: What was the number of customers? What were the major milestones in 2004? What were you able to accomplish? Rik Chomko: We had about 10 customers in 2004 and then probably another 15 in 2005, so we were starting to really get some momentum. We also started getting some bigger blue chip customers and a lot more attention from overseas. This was
Bootstrapping Using Services: InRule COO Rik Chomko (Part 4)
Sramana: That year in 2003, how many customers were you able to bring on? I assume you were targeting the insurance industry and all the customers who are from the insurance industry. Rik Chomko: Yes. Interestingly enough, while we were targeting people from the insurance industry, the customers we actually landed were completely outside of the insurance
Bootstrapping Using Services: InRule COO Rik Chomko (Part 3)
Sramana: What I’m trying to understand is how did you manage to bootstrap the Version 1.0 piece of your journey? Was there some of the services money that this company was paying you that went into building the product? Rik Chomko: Yes. That’s exactly how we did it. So we bootstrapped it and were trying
Bootstrapping Using Services: InRule COO Rik Chomko (Part 2)
Rik Chomko: Once we shut down the services company, my business partner and I wanted to start a product company. Our idea was to provide software to corporations which would allow them to modify logic without any coding effort. Sramana: What year are we talking here? Rik Chomko: This is in 2002.
