We're building a different business from my first company and it’s centered around profitability and self-sustainability. I get to share the profit with my employees. And because we don’t have external investors or venture capital, we have a lot of flexibility. When we need money for something, we use our own profit to fund the business. I’ve taken a different approach with Apps Without Code. More often, for startups, that leads to going after investors. When you build something that’s not profitable from day one, you have to look for other alternatives to raise capital. One of the things I would have done differently was building a business model that could be really successful even when it was small. And we were generating revenue but we were not exceptionally profitable.
With Kollecto, I got caught up in the hype of the Uber and AirBnb business models and saw the cool 99 cent apps in the app store. These business models have small profit margins so you need a large volume of transactions in order for the business to work. Some of the danger zones are building low-priced apps or only taking transaction fees (like Uber or AirBnB). Reed: I teach a lot about business models in the AppsWithoutCode boot camp and there are a couple that I consider to be danger zones.
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Syphrett: How has building Apps Without Code been different from your first startup? And it followed the pattern of launching as a side project before vetting whether it's a viable business. It felt seamless for me because my interest in building companies has always been around launching things that I think should exist. At that point, I realized there was a business there. But when I launched it again, I had fifty-eight entrepreneurs sign up. I ran that first class with four entrepreneurs and thought it would be a side project.
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It would be with five entrepreneurs and I would teach them how to build their apps without code. I sent an e-mail out to my blog subscribers, and list of people who had been e-mailing me, saying that I was going to try out a several week boot camp. But the emails kept coming so I figured I could help these people by sharing more details from my journey. At first, I turned them down because I was building my own company. After the talk, I got a lot of emails from fellow non-technical entrepreneurs who had ideas for apps but didn't know how to build them. Reed: When I did the TEDx talk I had already been blogging about my experiences, so it was a natural transition for me. Learning how to launch a business from that program (Orbital Boot Camp, led by Gary Chou) is how I fell in love with entrepreneurship. I did the program on weekends and worked remotely on Mondays. My partner, at the time, asked me what the point of having a cushy tech job was if I couldn’t fly to New York every week. But I lived in Seattle and wasn’t sure what to do. And in 2014, I found out about a side project accelerator program in New York. I was working at Microsoft and I really wanted to be able to create and lead my own projects. Tara Reed: I fell in love with it by accident. Shani Syphrett: When did you fall in love with entrepreneurship? As transparent as she is knowledgeable, we talked about her experience of testing the waters with side projects, how important it is to not rely on scale to be successful and how vulnerability is a great business asset.
The company helps entrepreneurs turn their app ideas into viable businesses. Over one hundred thousand YouTube views later, Tara is now the founder and CEO of Apps Without Code, a startup school that offers webinars, coaching and an intensive boot camp. After launching a successful personalized art recommendation app (Kollecto) without using code, she garnered the attention of the TEDx selection committee and a growing number of non-technical entrepreneurs who had ideas.
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