Bootstrapped businesses, async & remote with Amir Salihefendic (CEO @ Doist)

In a riveting Life on Mars podcast episode, Amir Salihefendic, the CEO and founder of Doist, shares invaluable insights into the world of bootstrapped businesses, communication, and entrepreneurship. The narrative of the episode revolves around thriving in a competitive market without the backing of venture capitalist (VC) funding, making for an inspiring and thought-provoking conversation.

We recorded this episode life during a Startup Grind Barcelona session, as a follow-up to this episode we recorded almost two years ago with Amir. Our A/V team didn't configure the cameras properly and this is why you will see a weird setup in the video version.

Listen to the audio version instead:

Amir breaks down his journey as a solo founder, offering insights into navigating a competitive market without VC backing. A key takeaway from the discussion is the importance of building a sustainable business without relying on external funding. This notion challenges the conventional wisdom in the tech industry, where VC funding often drives the growth narrative. His approach offers an alternative model that emphasizes sustainability and self-discipline and this is something we deeply agree with here at MarsBased, hence our alignment in visions of the industry and of the future, if you will.

Community and transparency are integral to Doist's business philosophy, as is something we share here at MarsBased too (as you will see, we share a lot!). Amir believes in the power of sharing and building in public, highlighting the benefits of social accountability and valuable feedback from a broader audience. This level of transparency has not only shaped his company but has also inspired a community of followers who appreciate the company's commitment to openness. In fact, do yourself a favor and follow Amir on Twitter.

One of the intriguing topics in the conversation between Amir and yours truly is the exploration of asynchronous communication. While it may seem challenging, Amir argued that it paves the way for more thoughtful and productive discussions. Asynchronous communication is a powerful tool that can improve efficiency and collaboration in a remote work environment, proving to be a game-changer in the modern work landscape. For us, while we implemented in two years ago, as announced on Betting hard on async, we're not exactly loving it. We will discuss it on another blog post! Let's stay on topic!

As the conversation advances, it gives us a glimpse into the future of AI in product development. I advocate for seamless integration and functionality, stressing the potential of AI to revolutionise product development without grandiloquent endeavours, while Amir shares that starting a product nowadays without AI is a recipe for failure: all the big players have been using AI for years and thus have it as a strong moat. This discussion is particularly relevant in a world where AI is becoming increasingly integrated into our daily lives, highlighting the need for businesses to adapt and innovate relentlessly.

In fact, earlier this year, we started offering AI services at MarsBased to our clients and it's proving to be a turning point for a lot of the companies we work with.

Finally, Amir shares his thoughts on legacy building. This theme resonates with aspiring business owners, encouraging them to look beyond immediate success and consider the long-term impact of their work. The episode ends on a motivational note, emphasizing the importance of resilience, innovation, and community in building a successful business, and a few questions from the audience.

In summary, this podcast episode offers a gold mine of strategies and practical advice for anyone looking to navigate their business journey, away from the conventional "go big or go home" and "move fast, break things" and other nonsense mantras. These narratives have for too long dominated the startup landscape and are now causing more harm than good.

If you ask me, I'd interview Amir every day, as he is transparent, insightful and very educational in all his responses, and a person I deeply admire for being an outlier in the crazy VC-dominated startup world.

I'd like to wish Amir, the whole Doist team and everyone who's reading this a wonderful start of the new year, as I'm logging off for holidays! Last blog post of the year for MarsBased!

See you in 2024!