Wow! This is such a cool story - congratulations! This might seem like a strange question, but I'm curious...after the investor agreed to invest and you took him out for dinner, he said one of the things that encouraged him to invest was the fact that he:
"saw how well everything was documented"
What exactly did he mean by this? What were the key things you were documenting that he was referring to? And did you use any specific software/system to help you do this?
It makes sense that having information readily available and organized would make him see you as someone reliable and trustworthy, but I can only assume that, like me, a lot of early-stage bootstrappers don't think about documenting their every move from the start. At which stage did you start to document everything? Did you always think this could one day be important to future investors?
Good question! From my experience with my previous startups, I know how important it is to document and collect data. So we have custom dashboards with all kinds of data + internal documentation on processes etc. Whether you're a small or a big company, trust me, from documenting you'll get insights you can use to help scale your business. Go and read 'Built to Sell' if you want to learn more about this :)
Wow! This is such a cool story - congratulations! This might seem like a strange question, but I'm curious...after the investor agreed to invest and you took him out for dinner, he said one of the things that encouraged him to invest was the fact that he:
"saw how well everything was documented"
What exactly did he mean by this? What were the key things you were documenting that he was referring to? And did you use any specific software/system to help you do this?
It makes sense that having information readily available and organized would make him see you as someone reliable and trustworthy, but I can only assume that, like me, a lot of early-stage bootstrappers don't think about documenting their every move from the start. At which stage did you start to document everything? Did you always think this could one day be important to future investors?
Good question! From my experience with my previous startups, I know how important it is to document and collect data. So we have custom dashboards with all kinds of data + internal documentation on processes etc. Whether you're a small or a big company, trust me, from documenting you'll get insights you can use to help scale your business. Go and read 'Built to Sell' if you want to learn more about this :)