BootStrapMe interviews Bijoy Goswami (Part 4)
(Editor's note: In the conclusion of the interview with Bijoy Goswami at BootStrapMe.com on the Creative Weblogging network, we discuss the true nature of bootstrapping, it's social impacts and it's implications for the future of companies)
SH: It seems to me when we talk about starting businesses that will generate cash flow with few startup resources there could be a tremendous social entrepreneurship aspect to this as well, especially in communities or even countries with limited resources. Greg Gianforte believes, and I do too, that the other way of pursuing business, forever chasing deep pockets, forever playing politics to gain approval from investors instead of simply focusing on creating value for customers, has harmed the image of the business community in the eyes of society at large and maybe more importantly in the eyes of young people who no longer see entrepreneurship as a worthwhile thing to do with their lives. Obviously you believe there's more to bootstrapping than trying to make a fast buck. What are we really promoting here and what's really at stake?
BG: Agreed. We are simply promoting individuals combining their passions and talents to make the world a better place through their products and services. It's that simple. The integration of profit and social good is already underway and we see many examples of this. Really, whether you are a for-profit or a non-profit, you're still in the same business. Nonprofits fall into the "investor" trap by focusing on their donors for capital. Muhammad Yunus, founder of the Grameen Bank and winner of the Nobel Peace Prize is one of the finest examples of treating the poorest of people as customers – not victims – and building a sustainable enterprise in the process. This is much better approach to helping others that will empower everyone involved.
SH: Anything else to add?
BG: Shell did a study on this and found that long-lasting companies are bootstraps. It turns out, how we raise our companies will have a huge impact on how they thrive and succeed as adults. It's not much different to raising a child. The Shell book and others on bootstrapping are listed on my Bootstrap Bootcamp Listmania list on amazon: http://www.amazon.com/Bootstrap-Bootcamp/lm/R2YOLC8MY70CBB/ref=cm_lm_byauthor_title_full
Our ability to build long-lasting companies is one of the most important competitive advantages we have. We should nurture it to not only encourage entrepreneurs, but bootstrap entrepreneurship in particular.
TO READ THE INTERVIEW FROM THE BEGINNING VISIT THIS LINK