Ask HN: Bootstrapped startup 'forced' to spend $10k. How?
Im in an odd situation.
We are a bootstrapped startup. We got a $10k grant to use in startup services, but we cant use it in paying ourselves. And if we don't spend it completely there's a fine we have to pay.
We have to spend the money before the end of July.
Why we asked for the grant in the first place? We thought we need the money to hire developers, but in the end we did the MVP ourselves (I learned to program in rails in the process :)
Being a pre-launch bootstrapped startup, we are not used to spend money like this, so I have been looking in for services that we can pay for 12 months in advance, but they are scarce.
Also I'm looking for some consulting work like web designers for a new logo, get domain names in multiple languages, etc.
Fellow HNers, How can I spend the money? (I have around $8k left)
Published in 2011, this chronicle by @throwaway1267 details the mechanics of building a profitable, self-funded business without venture backing. Key verified financial milestone: $10k.
The community focused on B2B customer acquisition channels, cold email vs SEO distribution, and balancing full-time employment with side-project development.
If you want domain names in other languages, you could spend a bundle on translations. You could also get some copywriting done in several versions, and then a/b test with them. You could talk to a patent lawyer and try to get some of your tech patented (file provisionals at this point), file trademarks both nationally and internationally, ... and spend some money on design. If you learned to code by yourself, did you design it too? I have been amazed at what a good designer has done when they have remade some of my creations.
But mostly I agree with customer acquisition. That is the best place to put your extra cash.
Hire some writers to make your help docs and how-to guides more robust. That content can last forever and boosts your page rank plus eases customer retention/acquisition (at least while its still accurate to your implementation) but the ppc ad investments only last until the money is spent. Also get those articles translated into some languages as the non-English world is under served.
Run many ad tests but spend small amounts (less than $50) each time while you learn how to do it (analytics, AB tests) and what works (platform, content, offerings) and what changes help.
Simple answer: one weekend in Las Vegas.
Honest rationale: if you accept a $10,000 grant for your "startup" but don't know how to spend it, you're clearly gambling your time away. You might as well gamble the money away.
Land grab your domain names if the start-up successful you won't have to worry about squatters.
I am interested in your learning rails were you a previous programmer in another language or Business/Designer.
Legal fees for incorporation and shareholder agreement. The rest on PPC to gather your first customers. or Prepay some of your recurring expenses to get a discount (hosting, etc...)