Dr Jeff Cornwall

I am working over the break between our fall and spring semesters on a new book on bootstrapping. It is a text that is part of a new Entrepreneurship series from Prentice-Hall. It got me reflecting a bit on why bootstrapping is such an integral part of the entrepreneurial experience. It is worn by so many entrepreneurs as a badge of honor. They beam with pride when they tell of the creative way that they have gotten things accomplished for their business when operating on a shoestring budget.
So why do so many entrepreneurs bootstrap their businesses? That is the question I ask at the beginning of the book. The answer to this question is not as simple as it might first appear. Some reasons for bootstrapping a business are borne out of necessity. Resource limitations are genuine constraint of many start-up businesses. The average start-up in the US only has about $10,000 in capital to launch their business.
But in other instances, the entrepreneur makes a conscious choice to be a bootstrapper outside of resource limitations. Whether it be to improve the performance of their business or be it borne out of the values of the entrepreneur, sometimes bootstrapping is a conscious management style. Many entrepreneurs start out of resource limitations, but make the choice to make bootstrapping part of their culture.
Over the next couple of weeks I thought it would be fun to blend my book writing and my blogging a bit. I will be making several posts reflecting on the various reasons entrepreneurs bootstrap.