Forbes columnist Sramana Mitra has a new book out on bootstrapping. She interviews 13 entrepreneurs from Silicon Valley. The review at the Sustainable Work Blog offers a nice snippet from Mitra’s opening (especially in light of the $30.4 billion that Obama is giving to GM today):
“So, what next? Where to from here? From my perspective it is clear that small business must be a top policy priority. There are approximately 5 million small businesses in the United Sates with fewer than 20 employees. Another 20 million mom-and-pops endeavor day in and day out without employees. Let us hope that in the coming decade, those numbers will double, then triple and quadruple. For here is the most powerful engine of economic growth and sustenance. Here is our way back”
“If the next Google is to emerge and bring with it thousands of new jobs, it must first start over some kitchen table where not only hope but opportunity is readily available. Where entrepreneurs not only start businesses at a higher rate, but also survive and thrive at a higher rate.”
“Through much discussion, writing, and brainstorming on each topic, I arrived at one core thesis: Not just entrepreneurship, but bootstrapped entrepreneurship is the true weapon of mass reconstruction.”
“Businesses often fail to take flight because they cannot raise funding. Well, start with the assumption that funding will not be available until the business is substantially further along, if ever, and that bottleneck is removed.”
“In this volume we will explore a dozen stories of entrepreneurs who have mastered the art of doing more with less, creating a great many options in the process. And making clear for the world over that prosperity and independence are not mutually exclusive. That in fact, they go best together.”
Bootstrapping is a must b/c anyone with capital is having it confiscated by the government so that a handful of industrial era firms can be saved. Thanks Sramana for this reminder that more can be done with less.