Episode 149: Creating Open Source Software Along With a Viable Commercial Design with Tim Hinrichs of Styra
Tim Hinrichs, Co-Founder and CTO at Styra, talks about his startup journey and growth strategy. Hinrichs and his co-founders created an open source language that powers authorization and policies. This is significant for cloud software, back-end systems, applications, and almost everything digital.
Hinrichs describes his cavalier approach when he decided to become a founder. He left his comfort zone at VMware with an idea that would solve a major business problem. He believes that showing a strong sense of commitment can accelerate funding.
With no product to bootstrap, Styra had to juggle fundraising, product creation, and customer acquisition.
To fundraise for a product that doesn’t exist, it’s essential to have your problem space, vision, and team at the core of your pitch. The last component is especially important. The reputation and capability of the people behind the company are the key differentiators.
Hinrichs shares their business strategy, which is centered around open source software. They decided to attack a major gap in the market by creating OPA. With a customer base composed of developers, it was imperative to have them try the offering. Styra offers mastery of this open source software and creates customized solutions centered around OPA.
It’s essential to create your product alongside your commercial offerings from the very start.
Tech founders will find Hinrichs’ experience and strategic approach truly awe-inspiring. You will gain a greater understanding of creating your product in line with commercial offerings.
Website - https://www.styra.com/
LinkedIn - https://www.linkedin.com/in/timhinrichs/
Twitter - https://twitter.com/tlhinrichs
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