Well, $12,107 to be exact, but believe me that is peanuts for a working, potentially-profitable business. What’s more, the owner, Guy Kawasaki, is also promoting it in the process of explaining how he did it. It doesn’t get much better.
The deal is to cut out as many operators as possible, with the exception of the tech guys to design the site, and some lawyers. Without those, it could have been done much cheaper, but probably not without anxiety.
Here are a couple of his 26 bullet points that caught my eye :
* 0. I wrote 0 business plans for it. The plan is simple: Get a site launched in a few months, see if people like it, and sell ads and sponsorships (or not).
* 0. I pitched 0 venture capitalists to fund it. Life is simple when you can launch a company with a credit-card level debt.
* 4. I learned four lessons launching Truemors: Thereâ€™s really no such thing as bad PR. $12,000 goes a very long way these days. You can work with a team that is thousands of miles away. Life is good for entrepreneurs these days.
So-called Web 2.0 businesses can be set up for peanuts — we did that with Syntagma Media because we weren’t sure if it would ever make any money. Our lack of faith has been amply rewarded in monetary terms ever since. Why invest money in something unpredictable if you can bootstrap the business from a credit card? A good idea is not more of a good idea because it has been funded by VCs, and you might just be selling chunks of a very good idea indeed.
Kawasaki is a shrewd guy, and not very experienced in technical terms. In fact, he’s quite like me really, minus the rough edges. So it’s great to see him make a go of Truemors. We wish him well and great fortune to come.