Strategic Bootstrapping

This book is about helping entrepreneurs sift through the 'noise' regarding bootstrapping to craft an informed strategy for successfully navigating the beginning period of a firm's existence. The book is a theory-driven, evidence-based look at bootstrapping, defined as: 'highly creative ways of acquiring the use of resources without borrowing money or raising equity financing from traditional sources' (Freear, Sohl, & Wetzel , 1995). In this era of lean startups, effectuation, and bricolage; bootstrapping is oft romanticized, but seldom analyzed. The evidence, while admittedly still in infancy, is compelling: bootstrapping is a non-ideal state.. So, practically speaking, an entrepreneur should avoid bootstrapping; however, realistically, most entrepreneurs will need to engage in some form of bootstrapping. The argument then, importantly, shifts to: how should one bootstrap? This book on 'strategic bootstrapping' outlines methods for bootstrapping with the goal of ceasing bootstrapping activities. This includes a highlighting of the useful aspects of bootstrapping, effectuation, and bricolage. It will attempt to provide the cold-hard facts on bootstrapping; it will outline how to minimize time in bootstrapping mode; and it will report--from research--best practices in bootstrapping. Without this more strategic stance on bootstrapping, an entrepreneur will likely never exit this bootstrapped configuration.

Richmond, VA; Associate Professor of Management; Virginia Commonwealth University