Be as Transparent as Possible
Time spent worrying about office politics isn’t conducive to shipping working software, and transparency promotes trust. It’s no coincidence that many remote-by-design companies, such as Buffer, have radical transparency. In the case of Buffer, it shares revenue information and the salaries of all its employees.
Automattic, the company behind WordPress.com, also emphasizes transparency. In his book, The Year Without Pants, Scott Berkun shares his experience working remotely for Automattic, and that all decisions and discussions are internally available to employees in its P2 discussion platform as part of its emphasis on transparency.
The chat feature in Planio works in a similar way. Discussions are open for everyone to see and chat logs are linked automatically from the issues discussed so nobody is left out; even new hires can read up on what previous decisions were made and why. When I started building the chat feature, I considered adding a feature for chatting privately with others, but when we discussed it as a team, we ended up leaving it out because we wanted to keep team communication as transparent as possible.
Digitalize Your Systems
We choose our services based on what they offer by way of online platforms, from telephone providers to banks (many of them will even offer a small financial incentive for going paperless, plus it’s great for the environment, too). I’m lucky to have a lawyer and an accountant for Planio who are comfortable sending emails or messages with Google Hangouts instead of summoning me to their offices. (I strongly recommend you ask about this at the first meeting.) Bonus points for getting them to sign up with your project management tool and become a part of your team!
We’ve even digitized our postal mail; at Planio, we use a service called Dropscan that receives our letters, scans them and forwards the important ones to the appropriate person. You don’t want to your friend to pick up and read them out over Skype. If you cannot find a mail-scanning provider for your city or country, some coworking spaces offer virtual memberships to maintain a physical mailing address while you’re away.
Build on Open Source
A venture-backed business based on proprietary software is great when your play is a “Winner Takes All” game and own the market. When you’re a bootstrapped company, open source software can give you reach and leverage you could never have achieved, otherwise.
There’s precedence of profitable tech companies building a business around open source software; Basecamp famously open-sourced Rails, guaranteeing themselves a supply of highly qualified engineers for the rest of eternity. GitHub has become a unicorn, leveraging the open source project Git that Linus Torvalds started to manage the Linux kernel sources. Our friends at Travis-CI started as an open source project, ran a crowdfunding campaign and then turned it into a remote-focused bootstrapped business (which also campaigns for diversity in tech through its foundation).
Hire Proven Professionals
Hiring a fleet of interns every year makes sense only if you’re intent on scaling up your employee count as soon as you hit the next round of funding.
Outsourcing tasks is easy if it’s copy-and-paste, but you don’t want to outsource your DevOps to someone with the lowest hourly rate when you have thousands of customers relying on your servers. You’ll want proven professionals, such as those at Toptal.
Matt Mullenweg, the founder of the popular open-source blogging platform WordPress, stated that by focusing on quality means that his company, Automattic, predominantly hires experienced candidates who can handle the unstructured working environment of a remote company.
Price your Products Strategically
One of our first clients was a massive technology company with billions in annual revenue. Obviously, I was delighted that they’d choose us over much bigger, more established competitors. They’re still a happy customer, but we have moved away from very large enterprise accounts; I’ve found that they require a lot of hand-holding and in-person meetings before they’ll become a customer.