Dan Housman and I kicked off Bootstrap Boston on Monday, July 25. We and 20+ bootstrappers meet at a local watering hole, Flat Top Johnny's. I spoke briefly about the principles of the Bootstrap Network: community, expertise and knowledge. We also discussed how things have progressed in Austin and the "Power of 2" in founding teams.

Most of the Boston Bootstrappers are in the Valley of Death (slide 10) stage, with a few in Ideation. I'm constantly amazed when I meet with other bootstrappers. Their incredible energy, grit and inventiveness are truly inspiring. And for most of us, it's the ability to continue the fight that extra day that makes all the difference. The comradery and mutual support was evident at the meeting. If the Bootstrap Network helps just one entrepreneur make it through the Valley of Death, we will have succeeded in our mission.

I'm excited to see this new chapter get started! We're now up to 7 active chapters around the world and it appears that Bootstrap LA is next!

I gave this talk at yesterday's Bootstrap Austin meeting. This is similar to the one I gave at Austin Rice Alliance in May, 2005.

The slides incorporate Darius Mahdjboubi's Bio-venture model with the MRE Framework. Darius' model shows the first three critical stages of any venture: Ideation, Valley of Death (or Survival) and Growth. How the entrepreneur chooses to navigate the second stage determines whether she is a bootstrapper.

The MRE Framework is used to show the critical roles that founders play in a Bootstrap venture. The founder must understand her core talents (Maven, Relater or Evangelist) and those of her co-founders. Indeed, most successful Bootstrap ventures had two founders with very different and complementary talents.

Awesome speech by William Brody, president of Johns Hokpins University, on risk.

Bootstrappers resolve the "St. Petersburg Paradox" by continuing to play the game, long after others have given up. They're guided by their belief and inner resolve that their efforts will eventually bear fruit.

I recently read Richard Branson's autobiography, Losing My Virginity, and the ability to take risks, time and time again is one of his key defining characteristics. Indeed, Branson makes a habit out of putting himself in risky situations, even beyond business. His attempts at various ballooning records is just one of many examples cited in the book.