Bootstrap Third Way of Entrepreneruship

What is Bootstrap? Third Way of Entrepreneurship Bijoy Goswami Founder, ……..……………. November 7, 2009

Bootstrap: Third Way b Cookie Cutter Funding Driven I. Three Entrepreneurship Paths Bootstrap!

Cookie Cutter/Craft/Lifestyle

Most Small Biz in US

Low barriers to entry

Make a copy of a proven Biz Model

Low innovation  low economic impact

I. Three Entrepreneurship Paths

Funding-Driven

Drives Innovation

Company is the product

Long-term economic value not the goal

Requires a thriving ecosystem of VCs (Silicon Valley)

1 in 10

Biz Model set up-front

Most-studied – business schools, etc.

Bootstrap: 3 rd Way

Best of both worlds

Founders’ Passions and Talents

Low-cost

Long-term, broad-based economic value

Long-lived ventures (Living Company)

Biz Model emerges from process

NOT technology-based

Least understood

Baron Munchhausen II. What is Bootstrap?

You: discover, know thyself) II. Bootstrap Map ( )

QUEST(ion): awaken, YES! II. Bootstrap Map

ideation: demo, use everything! II. Bootstrap Map

Vod: sell, constraint creates innovation II. Bootstrap Map

vod/prod: Iterate: failure = feedback II. Bootstrap Map a c n, r,s t! k b

II. Bootstrap Map vod/prod: Iterate: failure = feedback

Growth: scale the model

Systems

Infrastructure

Bring in the MBAs!

Investors

Founder transition

Mission – the QUEST(ion)

Culture – Corporate Energy

II. Bootstrap Map

Stage 6: rebootstrap Eiji Toyoda , Taiichi Ohno TPS :Right Process  Right Results II. Bootstrap Map

II. Bootstrap Map Right Action Right Time A fugue! rebootstrap ideation prod/serv/exp/ cause/community (demo) Use everything customer valley of death Constraint creates innovation ($ell) growth organization (build) Scale the model founder you (discover) Know thyself QUEST(ion ) (awaken) Yes! inner journey U y

Bootstraps Companies are Built to Last SOUTHWEST

James Madison and the Constitution James Madison King George III The US is a Bootstrap! America 1.0 America 2.0 America 2.1

Bootstrappers live in the question And the Rockets' red glare, the Bombs bursting in air, Gave proof through the night that our flag was still there;

O! say does that star-spangled Banner yet wave,

O’er the Land of the free, and the home of the brave?

O! say can you see by the dawn’s early light, What so proudly we hailed at the twilight’s last gleaming, Whose broad stripes and bright stars through the perilous fight, O'er the ramparts we watch’d, were so gallantly streaming? The US QUEST(ion)

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