Why and how I bootstrapped to £1m ARR!

In this episode of Seed to Success, Alastair chats to founder and CEO of Trust Keith, Rory Codrington, who discusses his founder journey and shares how the lessons from previous ventures shaped his strategic decisions for his latest business.

 

Rory discusses the importance of market validation, understanding customer value, and leveraging strengths to shape the direction and value proposition in B2B. His practical insights on navigating regulatory compliance, bootstrapping, and thoughtful business model considerations provides inspiration for listeners looking to embark on their own founder journey and those seeking strategic guidance.

 

If you’re keen to hear about the complexities of entrepreneurship and gain some practical advice to fuel your founder mindset, then this one’s for you!

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Show notes:

00:00:00 - Introduction

00:01:16 - What is Trust Keith?

00:02:18 - The complexity of regulation

00:04:55 - Business growth and team size

00:05:53 - Founding principles and business evolution

00:12:23 - Entrepreneurial mindset and business strategy

00:15:04 - Passion vs. practicality

00:21:47 - Strategic planning and long-term goals

00:23:19 - All-you-can-eat business model

00:27:53 - Role of experts and technology

00:26:45 - Balancing technology and people

00:29:05 - Iterative product development

00:31:19 - Evolution of compliance solutions

00:34:52 - Technology development journey

00:36:40 - Bootstrapping and funding

00:41:00 - Building a business and understanding customer needs

00:46:22 - Overcoming hiring challenges and achieving efficiency

00:49:26 – Lessons learned

00:54:02 – Favourite metrics

00:56:06 – Advice for founders