As an entrepreneur myself, I really enjoyed the back story on building your start up. Thanks again, look forward to using it even more on my future runs and rides. Craig Boyd.

Canada Mike – yes, big fan of social media, word of mouth. press, etc.—all the free stuff that in my experience, works better anyways.

Aaron – sure, if we could crack that code, it would be a no-brainer. Difficult to track though, plus I am skeptical that the numbers could work with such a small one-time non-recurring price point. A bootstrapped company also does not have much wiggle room for mis-steps. But hey, if you figure it out, I am all ears!

Sebastian – we think it is a lot more than this, but for starters, those are iPhone ads and Nike+ doesn’t work on the iPhone (only iPod and Touch)

Manish – thanks for the support!

Martin – very interesting, thanks for sharing!

I think the biggest theme that emerged was that for any entrepreneur, you have to adapt to the climate you’re in. Like you alluded to, if this was 1999, you’d probably have to take capital to stay in the game. In today’s market, you’re positioning yourself well to ride it out – and if you can ride this out, you can ride out almost anything.

So while you should never say never when it comes to raising capital, the extraordinary effort it takes right now to get the extraordinarily poor valuations just doesn’t add up.

One might say this attitude of keeping the company lean and mean, or fit, makes you the “Chief Fitness Keeper”

Thanks for keeping us all connected with the update posts.

I just wanted to propose a counter argument to the marketing thoughts. Marketing does not always produce a negative return. My guess is that you could find some paid search advertising and display advertising that would actually earn you more revenue than you pay for it. Especially if it is being supported by free marketing from Apple. I wouldn’t write those channels off and I would think about experimenting with small dollar amounts. If you could spend $1 and get $1.50 plus increase your market share wouldn’t that be a great investment?