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Bootstrapping and the Problem of Being New
內容大綱
Strategic Bootstrapping is a six-chapter book published by the Business Expert Press in 2015 and written by Matthew W. Rutherford, associate professor and Johnny Pope chair in entrepreneurship at Oklahoma State University. The book presents a decision-making strategy for successful entrepreneurial ventures funded through bootstrapping. The author emphasizes the need to understand funding issues with a specific orientation towards new ventures. He explains that there are two main components of bootstrapping: a decision to avoid external finance and the methods used to operate the new venture, and then shares insight both. Using real-world examples and current research, he outlines a model for survival and successful growth for new firms. In Chapter 2, Bootstrapping and the Problem of Being New, the author explains why initial financing decisions are critical for new firms. He recommends that all entrepreneurs begin with a process of self-reflection to determine their goals, mainly whether they desire to retain control or make money from the new venture. He also offers a review of basic factors in start-ups to inform later strategy decisions. He describes the three main reasons why new ventures fail: newness, legitimacy, and signaling, and offers ideas for overcoming these challenges.