Bootstrapping NOT a con
With the term gaining acceptance including a listing in the latest edition of the Concise Oxford English Dictionary (See article at Telegraph.co.uk) you're liable to read a lot more about bootstrapping from now on in the mainstream media.
Unfortunately, not all the publicity is good and some misunderstanding out there about what a bootstrapped business startup really is remains.
Take this article in The Sun Chronicle about an Attleboro, MA, trio who allegedly spent three horrendous days working for a questionable magazine sales company in New Jersey.
Bootstrapping does not mean:
• Tricking employees into working for little or nothing
• Forcing them to work under substandard conditions
• Lying or misrepresenting to bring in cash flow
Sure, bootstrappers may take an unorthodox approach at times and sacrifice their own financial rewards in the short-term to grow their companies.
But ultimately bootstrapping entrepreneurs must be dedicated to the creation of value for both customers and employees, and misrepresentation and bad working conditions endanger the long range goals of sustainability and growth.
Don't let bootstrapping become a dirty word. Good business should never be conducted unethically. Bootstrapping and scams should never be synonymous.
Photo Credit: Dawn M Turner, MorgueFile