Entrepreneur Bootstrappers

Wednesday, August 2, 2006 at 01:10pm by Dan Marques in Bootstrapping

I am very excited to be one of the contributors to the bootstrapping column of Mindpetals. Bootstrapping is not a buzzword, individual technique, or get rich quick scheme. It is a philosophy of entrepreneurship. Bootstrapping is the truest form of entrepreneurship, doing more with less is the central tenet.

Why is this important?

When someone wants to start a venture, it generally requires capital. Oftentimes you need to seek that capital from other individuals or institutions that have their own mission, vision, and process that may not align with yours. By using the least amount of capital possible you can conserve the maximum amount of equity (read: control) and you are a more nimble and stronger company. If you take on debt you maintain ownership but then you have to handle the monthly debt service payments and what will happen if you miss a month? How far can bootstrapping take you? There are countless examples of successful entrepreneurs who have launched ventures with no money down up to as little as $5,000. Richard Branson started his first company with �pocket money� from his mother. Need another example? Subway was started by Fred Deluca for $1,000. Can you still do that today? How about you ask the guys over at Facebook.

This bootstrapping column will feature tips, techniques, resources, motivation, and examples of bootstrapping. It will serve as a transparent source of honest information from young entrepreneurs like yourself who are in the trenches and making things happen with less than you can imagine.

Success on your terms�

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