Software Misadventures Growing and selling an indie business | Michael Lynch (TinyPilot)
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Jul 9, 2024 Michael Lynch, founder of TinyPilot and a former Google employee, shares his candid journey of bootstrapping an indie hardware business. He discusses the complexities of selling TinyPilot for $600K and the toughest challenges faced during the process. Humorously citing his shift away from hardware, Michael explains the inherent risks and operational hurdles of running a hardware business. He emphasizes the importance of outsourcing, proper delegation, and the emotional journey of finding personal identity post-sale.
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Outsourcing Priorities
- Outsource customer service before development, especially for technical founders.
- Focus on tasks outside your expertise and comfort zone.
Tracking Hours
- Tracking developer hours is easier than support engineer hours due to clearer expectations.
- Michael used time-tracking tools but preferred a more flexible approach.
Projecting Profitability in Hardware
- Projecting profitability is complex for hardware businesses with significant reinvestment.
- Reinvestment in development and future iterations makes short-term profitability less representative.