Why I’m switching from being a bootstrapper to a funded startup

Sounds like you're certainly more keen on the startup than the consulting. I'm in a similar situation, where I do a little contract web development as well as building up my bootstrapped revenue-generating startup on the side. My plan is to stay bootstrapped, but build up the revenues to a point where I can focus fully on the startup. It will take a little longer than if I had angel investment, but I believe it is totally worth it, and I have already managed to drop my contract work a little.

What I'm intrigued about is whether you believe you can't build up the startup to ramen-profitability and drop the consulting work without getting angel investment? If you can, then why would you not hold off the investment until that point?

Another related thing I'm wondering is whether you agree with the wisdom of "get investment when you don't need it" and "leave it as late as possible"? It seems like you could drive up the valuation if you waited.

I get what you mean when you say you are reluctant to get funding for unsure ideas until they are tested. I'm afraid, even with someone else's money, to bark up the wrong tree.

My startup is going through an incubator now, and one of the biggest things I've seen is that fear of failure motivating rather than limiting. I'm more willing to pivot and change because even though we are still calling the shots, we've got to look our angels in the eye and tell them it's a good idea.

Bootstrapping is great if you can do it. So is building a startup while working a full time job. But like quitting the daytime job, receiving funding helps to kick you into action.

I think you'll find it a bit difficult if you don't explain where the growth is going to come from. It's easy to make a trickle of money, but will it grow enough to make an investor his money back and more?

I think this makes sense for you and the product. Someone needs to compete with UserCycle ;)

Good luck with the round.

are you using any other means besides the blog to drum up investment? i'd be interested to hear what and if/when you succeed..