New bootstrap book in the works
A new book on bootstrap entrepreneurship is on the way from Jeff Cornwall of The Entrepreneurial Mind and director of the Center for Entrepreneurship at Belmont University in nashville.
Jeff has started discussing some of the key issues in the upcoming book on his blog and we'll be following along for some of the posts.
Important topics include:
• Bootstrapping by choice versus by necessity. How many entrepreneurs choose this technique over venture funding as a way to start their business.
• Bootstrapping due to lack of funds. Jeff argues that many entrepreneurs simply use the approach as a way to get around financial limitations observing that the average US startup launches with about $10,000.
• Entrepreneurs who choose bootstrapping. For a variety of reasons (Greg Gianforte gives a great list here) some business owners either choose the bootstrapping route from the beginning or decide to continue long after they have the resources to follow a funded approach instead.
• Bootstrappers' many motives. Two that Jeff mentions specifically are a desire to improve performance and that it is a natural extension of entrepreneurial values.
I'll be eager to see Jeff's book when completed and am looking forward to future posts on the subject. Stay tuned!