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Viddyoze is an eight-figure bootstrapped business – not bad going for three entrepreneurs who took a calculated punt on a video animation platform in 2015. How did they get there? How financially savvy were they? What kind of financial nous is needed to scale a business like that?

Well, you can find out in this episode of Just 3 Clicks. Join Joey and David as they discuss what it means to bootstrap a business, what the pros and cons of investment are, and what it feels like to spend some serious dollars on paid ads. Oh, and how much Joey spent on a pair of Gucci-studded shoes.

Yeah … gold studded.

As ever, if you like the episode, please share and review.

Talking Points

  • New blog and website (1:49)
  • General financial nous (19:02)
  • Perspectives and investors (25:57)
  • Understanding money from a business perspective (34:06)
  • Money affects you in different ways (39:10)
  • Quick-fire questions (44:54)
  • Wrapping up (50:24)

Quotes

“In general, bootstrapping refers to a self-starting process that is supposed to continue without external input. That’s bootstrapping.” – Joey Xoto

“I think your perspective is different when you’ve got an investor.” – Joey Xoto

“My perspective has changed over the last 18 months. It’s just back and forth like ping-pong pretty much. It just changed so much again and again.” – Joey Xoto

“Some people might be a little bit upset about that answer because people want instant results. There isn’t really an instant big result. You can’t get instant results in the sense that you can get quick wins, but big, scaled-up results like that do take time.” – Joey Xoto

“It’s owning your ambition, owning your problems as well, and not expecting to buy your way out of them with somebody else’s money.” – David Chamberlain

“You don’t tend to make big purchases and big decisions like that unless you’re big enough to do it. And you don’t get big enough to do it without making smaller purchases and smaller decisions in relation to how big you are, if that makes sense.” – David Chamberlain

“There are always two sides to a business, you as a person, you as an operator.” – David Chamberlain

“I don’t think [money] ever brings a level of freedom you anticipate you’re going to get, but there still going to be a lot more choices.” – David Chamberlain

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