Building a business is hard. There’s no shortcut. No silver bullet. There’s nothing but hard work and dedication to turn your idea into a real business.
The traditional cycle of building an online business has been:
- Come up with an idea
- Write up a business plan
- Create a “pitch deck”
- Grovel every investor you can find
- Get a small pittance to fund your dream, while giving up a significant amount of control
- Hire a team of Developers to write the application
- Hire a team of Marketers to get it in front of an audience
- Pray for traction
- Succeed or Pivot
Although this system has made a lot of investors rich, most of the founders of businesses walk away with nothing but lost time. In fact, 60% of the companies that follow this model fail to make back even the initial money that was invested in them.
But, there is a way to build an online company without seeking outside funding. Bootstrapping.
Bootstrapping a Business
Having a business idea does not mean you need to run to the nearest investor and beg for money. Instead, you could buckle down and spend as little money as possible to build your Minimum Sellable Product (MSP), and bootstrap your company to profitability. What does this do for the success rates? Well, only 20% of bootstrapped companies fail within the first year! That means you have an 80% chance of reaching at least a small profit as opposed to a 40% with a traditional startup.
What does the bootstrap process look like?
- Come up with an idea
- Break it apart into smaller pieces
- Break it apart again. Find the smallest piece you can build that still provide value
- Talk to members of your target market. Pre-sell the smallest piece if you can!
- If no one wants the product idea you created, go back to step 1
- Build the small piece of an application (do it yourself! Do not hire anyone!)
- Sell the small piece to your target market
- Ask them what else they want and build it!
The biggest problem with bootstrapping a business is that you will need to learn every skill yourself. You don’t have money to hire developers or marketers, so you are on your own!
Learn to Code While you Build a Business
Assuming you find an idea the market is willing to pay for, you will need to build it before you can start selling it. But, learning to code can be a long process, and you don’t want to learn for the sake of knowing how to code, right? If you did, you would already know how to code!
What you need is a book that will teach you the bare minimum required for coding an application that you can launch to your target audience. Well, today is your lucky day! This book is designed to teach you how to go from an idea to a full application, while teaching you the core concepts you need to understand to continue building the application long after you finish this book.
Why Learn Ruby?
This book will teach you how to build an entire web application using the Ruby language and the web application framework called Ruby on Rails. Ruby is one of the easiest languages for beginners to learn, so it’s a great place to start the journey into web development. It’s also easy to find Ruby developers when you are making enough money to be able to hire someone full time to take over the application.
The other big benefit to Ruby is the Rails Framework. Rails provides a lot of tools that make building a business much easier. You could have an entire application up and running in an hour that has User Accounts and Subscription Services already built. The speed and ease of Ruby on Rails will surprise and delight you. What are you waiting for? Let’s start learning Ruby!