個案資料

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 4, Financial Bootstrapping, the author analyzes the entrepreneur's decision-making process to provide deeper insight into success factors for a new venture. Summarizing current research on bootstrapping, he considers the motivation behind why an entrepreneur decides to utilize bootstrap funding, either personal preference or necessity. He describes characteristics of three different types of bootstrappers, cost-reducing, capital-constrained, and risk-reducing, with examples from Goldstar and Pandora. Second, he reviews three approaches to bootstrapping: cash cycle exploitation, minimizing investment, and joint utilization.

• Entrepreneurial financing
• Capital structure
• Start-ups