UCM Digital Health co-founder and CEO Keith Algozzine recently joined David (Ledge) Ledgerwood on his Leaders of B2B Podcast for an insightful conversation where they explored the ways founders can build a company without an immediate infusion of capital. Ledgerwood, as sales leader for tech-enabled companies wanted to learn more about and share Algozzine’s story of launching UCM Digital Health without a large initial infusion of capital. Ledgerwood believes that Algozzine’s journey proves that founders can build in a manner where there’s a minimum viable product that doesn’t cost much, so long as the key to this strategy is selling and banking revenue to fund product growth.
As Ledgerwood explains, bootstrapping from startup until the growth stage is a great way to financially sustain a company. However, he cautions, this approach requires careful planning, smart decision-making, and using your own expertise. Algozzine also shares some other key advantages a bootstrap method offers, including the idea that it allows you to have a better product and that focusing on your current customers and revenue forces you to deliver the best. Plus, Algozzine says, you will also boost your customer experience scores and explains how keeping them closer and involving them in your company’s growth will reflect on them immensely.