THE BUSINESS OF SELF FUNDING
August 4th, 2017.


Here, Jake Madders, co-founder and director of Hyve, discusses how you can go about self-funding your own business.


Open the pages of any business publication these days and there are a plethora of announcements about this company or that company receiving another round of funding. Funding firms are shaping the startup industry with their millions and providing incentives to develop the ideas that they deem important. But does it really have to be this way? Is this the only way to get an idea off the ground and make it into a real business? Let me tell you Hyve’s story to help answer this question.

Working as part of a big tech company was great, I got lots of experience, met some really smart people and learned a whole lot, but I always felt like a little cog in a big machine – and that is never what I wanted from my career. Take one restless tech geek and there is likely another one in close proximity, and that is exactly what I found in my co-founder, Jon Lucas.

Jon and I started playing around with technology, rented space in a data centre and built the best hosting platform that we could. We realised it was our passion for technology, our desire to work for ourselves and the investment of our own capital to start the business that fuelled the many evenings and weekends spent in the data centre. We started hosting a few companies and our customer base grew gradually – we reinvested everything we made in the technology, determined to make it a new hosting standard.

Then came the big decision – when are we big enough to dedicate ourselves fully to Hyve and growing the company. This came quicker than expected and we have never looked back.

As the company continued to expand, we remained dedicated to reinvesting our profits into growing and building out our hosting infrastructure. Since the beginning, we have focused on taking smaller (quality) steps and doing it this way we have organically grown the business, but we have always been cautious with our cash flow, every penny counted and we haven’t invested in anything that wasn’t essential.


For the full story at smallbusiness.co.uk CLICK HERE.