Does anyone know of any Debt Free startups. Am wanting to ask a few questions of them since I am looking to start a company, but hate debt since it clouds my judgment. I am wanting to learn from startups that started debt free and have stayed that way.
I hope this is an okay question to ask here.
Avoiding debt is a pretty simple formula, have income greater than your expenses. To do so means you will have to do one or more of the following though.
My company has been in business since 2002 and has been profitable every year with no debt. I started off consulting while at the same time building a product, getting contacts in the industry and growing the customer base. As our software matured and the revenues grew, I slowly phased out consulting work.
We are a tiny firm (4 employees) but I like it that way and we do okay revenue-wise. Like you I am very debt averse and don't like outside investors (or partners) telling me what to do and diluting my equity. It is a much slower way to grow your company and requires lots of patience (and luck).