about this week's developments at Bootstrap Austin
, including our talk at SXSW and the demo of BootKarma
is a member of Bootstrap Austin and is featured on CNET's Webware
Details of tomorrow's radio interview are on the Bootstrap Austin Blog
by Doug Burke
on Bootstrapping, which reiterates the Demo/Sell/Build approach.
, cofounder of FLOW
alerted the Bootstrap community to this 2001 paper
by Professor Saras Saraswathy
. Kevin Koym, fellow bootstrap leader also commented
on it on his blog. It is particularly of note that the paper is also listed
on Vinod Khosla's
website. Vinod is one of the few VCs today who actually founded his own company, SUN
, with minimal investor startup capital.
This is easily one of the best articles on the topic. It at once explains the truly differentiating qualities of entrepreneurs and why traditional MBA programs will never prepare individuals for entrepreneurship - and indeed have a reverse effect. It also reveals the weakness of writing a business plan to raise money for a new venture.
Dr. Saraswathy has a website on Effectuation
where she is conducting further research.
The Bootstrap Book Club gathered yesterday and had an inspiring and heartfelt discussion of the hero's journey as it relates bootstrapping.
Dr. Elliot McGucken kicked off the discussion on conference call. Dr. E is an Evangelist for bootstrapping and artistic entrepreneurship. He teaches a course called Arts Entreperneurship
on the subject and has laid out the elements of the hero's journey. His website describes Joseph Campbell's "monomyth
" as it relatest to the stages of entreperneurship.
Participants were encouraged to check out one or more sources on the Hero's Journey:
1. Joseph Campbell
's book: Hero with a Thousand Faces
, which oultines the monomyth
2. Joseph Campbell and Bill Moyers television series: The Power of Myth
3. Professor Candace Allen's journal article (.pdf): Entrepreneur as Hero
Dr. E's talk will be on the Boot Rap Podcast
(powered by HearThis
Michael Skye, founder of Vision Force Academy
, has a blog post
about his first interaction with Bootstrap through the book club.
My definition of Bootstrapping is simply: "the right action at the right time." Significant capital from investors does not belong in the Ideation or VoD stages, but is appropriate to consider in the Growth stage.
This article reveals a very positive trend where capital is finding its appropriate place in the entrepreneurial adventure. When capital comes into the system earlier, it should rightly be in very small amounts and without a timeline associated with it.
This trend bodes well for bootstrappers AND investors.