Making fun of Silicon Valley was the best thing that could happen to my startup



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Ten years ago, when I created a technology company designed to simplify planning for independent service professionals, I made fun of Silicon Valley. Not only was I perceived as the antithesis of the founding prototype, but the venture capital community also perceived the fact that my Montana site was difficult to access and dissuasive to attract the best talents. At the time, the reactions were humiliating, but I decided to expand my business here to Bozeman because I did not see Montana as a liability, but as an asset.

Since then, Montana has been recognized as a growing technology center. Now, I can not go to a coffee shop without meeting some of these same VCs, and my company has become a leader in the category. I have learned some poignant lessons about starting a company in Bozeman and looking for alternative sources of investment rather than continuing to look for institutional funds.

Access to capital changes

You hear all the time debates about the opportunity to start, but in our case, I had no choice. At first, without mobilizing a large amount of funds, my decision to go ahead was pure motivation and passion. Looking for alternative investors does not bring you tens of millions of dollars, but there are many benefits to finding "friendly" money from like-minded people to help you through the difficult times in the beginning. Securing just what you need to start the business gives you the track to find your goal.

As we build our product, we have seen countless companies enter the industry, often with massive funding from VC from the Bay Area or New York. I think that 70% of these companies do not exist anymore. When you have $ 40 million, you will probably have problems rather than getting on with the job and getting the job done. We saw these money-laden companies generate all the features imaginable, which was ultimately a trap.

Running lean, you never have the opportunity, nor the luxury, to spend millions of dollars to see what's left. Without this type of fund, you are forced to do things differently and be particularly attentive to what you do and do not implement. This can be hard work, but it will result in a more sustainable business if you can identify the two or three things that will actually benefit your users, and if you do that very well.

By building relationships with individuals in other sectors, I managed to raise funds to grow the business. This may seem like a harder path for financing, but in the long run, doing the right thing gives you a solid foundation. This path has taught us to sip water through the desert and come out on the other side.

Flowering where you are planted

By not having these venture capital funds and by resisting the temptation to build the company into a startup center like Silicon Valley, I never had to give up control of my company to a chairman of the board of another State. Owning every element of a business means that you control your destiny. This is important because it requires you not only to make thoughtful decisions, but also to stay true to your people.

Remained in Bozeman since our founding, we have experienced low turnover, an incredible quality of life and have been able to maintain our focus on our products and processes. When you are on your own island, you work harder and create and develop your own culture – not the culture of fear and uncertainty that often stems from external forces. This creates stronger teams, able to stay focused on your mission, without distraction.

While we are currently recruiting talent from across the country, our team is fortunate to have extraordinary people hired here in Bozeman. Our Vice President of Products, Jane Crites, worked in horticulture and wine before recruiting her at the start of the business. What is remarkable about Jane and many others like her is that she would have been totally neglected by a typical Silicon Valley technology startup, but she has been a driving force to garner critical feedback from our partners in the industry. growth of our company. I think it's crucial to remain open to taking into account non-traditional recruitment history, not only to maximize your pool of potential talent, but also to avoid dropping passionate people and offering a fresh perspective. .

Building a business off the beaten track can pay off in many ways. While new challenges come up every day, I find myself so lucky to be surrounded by extremely talented people who want to help make our users stronger, better and more efficient.

Jerry Nettuno is founder and CEO of Schedulicity, based in Bozeman, Montana.

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