Konamoxt, Inc.

As I’ve mentioned in my last couple posts, there’s been a lot of talk about bootstrapping, VC investments, and lifestyle businesses in the Seattle entrepreneur scene lately. I was recently sent a link to an interview with James Hong of HOTorNOT.com. He has an interesting, I’ll say fresh, perspective how they chose to build and manage their business.

What I found particularly interesting about this interview is that James is pretty direct about the fact that he and his co-founder will milking this business for the cash. They made business choices that would never have been accepted by their investors had they taking outside funding.

Sure, there was a lot of luck involved in their success, and they were very much there at the right time and the right place. And today, HOTorNOT has faded, and is far from the cash generating juggernaut it once was. But their business was generating as much as $5 million a year in PROFIT, split between two owners. Not a bad way to create “FU Money” as James calls it.

The interview is a little long, but it actually covers a lot of different topics, and is certainly worth a view. Thanks to Ram for sending this to me.

Filed by Brad Hefta-Gaub at 10:42 am under Bootstrapping, Entrepreneurship, Social Media, Venture Capital
Digg! this story.