We were lucky. We started late, and we hadn’t had a chance to hire very many people yet, so we didn’t burn through cash as quickly as others. And we were fortunate enough to have a software product under development, so that when the Web consulting industry disappeared, we still had money coming in. Because if you can survive the death of your industry, well, you can survive just about anything. In the next issue, I’ll tell you how Fog Creek pulled it off.
Joel provides some interesting perspective of the dotcom era in this article…but overall, I’m not getting “the day my industry died,” especially in relation to web consulting. In fact, weren’t most of the web companies that went out of business product-focused?
People simply weren’t smart with their money. That went from the VC’s who invested in “cool” businesses to the companies who had posh offices with all the perks.
Start small. Solve a problem. Be smart in the basics.