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Phil Liu

๐Ÿ‘ค Speaker
320 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

They're spending way too much on tax.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

They're losing money.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Are you guys profitable?

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

So we don't spend money on ads.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

So we only spend money on servers and like tools to help us manage.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

What would you say your total expenses every month are?

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Ah, let's say without salary, like without this, our own four salary.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Do all in, do all in, including, including what you pay yourself.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

I don't know.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Well, I break it down because salary, let's say everything else except salary, I would say like 20 Ks, mostly servers.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Yep.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

And factor in our salary, like Quebec based Canadian, like normal wage for a coder or programmer.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

So what are you guys, what, 30, 40,000 bucks in headcount expenses per month?

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Less than that.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Less than that.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

So as a founder, like I think this is an important question about sort of capital, right?

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

Each month, if you're all in costs or something like I'm making this up 40 or 50,000 bucks, 20K of server plus your headcount and you're doing 9,000 top line, that means you have like 40,000 of new cash hitting the bank every month.

SaaS Interviews with CEOs, Startups, Founders
How To Bootstrap to $1m with VC Funded Competitors With Just 4 People

How do you decide what to do with that?