Workfu is shutting down.
workfu.com
workfu.com
Get more traffic than you ever had in 9 months previous combined
...
Profit
(colour me sceptic)
But most likely you could have written it "whether a company could become viable soon"?
That sounds very interesting, could you care to elaborate please ?
In this case, income and its recurrence, expenses and their recurrence, current cash reserve and trends give you a pretty good picture to figure out if you can pay the 4 families behind workfu or not.
I'm not talking about complicated monster companies with heavy fiscal tactics, more about classic companies where you sell something.
Well - startups waiting to be acquired and/or do not charge the users is another story :)
But Workfu was one of the competitors I was most impressed with. They had a great team and great execution, so I hope they find a way to pull through somehow.
I guess this is the only time being a single founder is actually an advantage. Since I run Folyo by myself I have very few expenses, and can always feed myself by taking on client work if need be.
I believe that's also true if you're a team. In my opinion even more, because you don't have one person being distracted by too many things, but can distribute tasks to various people, where each of them can focus on those that are related.
Of course, the answer to that depends on the founder. I strongly suspect the latter would be the case here.
Worst case you're out a few hundred bucks for the company formation, best case you start making money.
Or it would take much more time than allowed, even with some outside funding?
For sure, I find the site is really, really beautiful and polished for a bootstrapped venture. It could maybe have helped to have something less polished but focusing on selling subscriptions earlier on? (no sarcasm really here, real question).
If one of the founders is reading, as a bootstrapper myself, I'd love to hear more about the underlying reasons to close.