What is Bootstrap?Distinct from cookie cutter and funding-driven entrepreneurship.

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Entrepreneurial Paths
Bootstrap: Third Way of Entrepreneurship
@bootstrapaustin
Founder, ……..…………….
August 30, 2017

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Human Fugue
Processes
Entrepreneurship
Democracy
JOurneY
Sc Method
Business Models
Laws
Philosophies/
(Meaning Models)
Theories
—> Outputs

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House 3: Resources
Bootstrap
Funding-Driven
Two Paths
Craft
H3
H2
H4
H1

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Cookie Cutter/Craft/Lifestyle
Make a copy of a Proven Business Model
⬥Most Small Biz
⬥Low barriers to entry
⬥Make a copy of a proven Biz Model
⬥Low innovation  low economic impact
⬥Present everywhere

5. © 2003-2017 Aviri Inc
Funding-Driven
Create a brand new business model
⬥Drives Innovation
⬥Company is the product
⬥Scale is the meaning, not founder’s passions
⬥Requires a thriving ecosystem of VCs (Silicon
Valley)
⬥VC is the main player: betting on horses on the
racetrack: 1 in 10
⬥Lean Startup: designed for this model
⬥Long-term economic value is side effect
⬥Most-studied – business schools, etc.
⬥Time-constrained, resource unconstrained

6. © 2003-2017 Aviri Inc
Silicon Valley’s Unique Role
⬥49ers
⬥Stanford, railroad baron
⬥Government Funding
⬥Bootstrap (1930s) —> Angels (1940s) —> VC
(1970s)
⬥Platforms (Media platforms in SoCal)
⬥Extreme capitalism
Difficult/Impossible to replicate

7. © 2003-2017 Aviri Inc
Bootstrap: 3rd Way
⬥Best of both worlds
⬥Founders’ Passions and Talents
⬥Low-cost
⬥Long-term, broad-based economic value
⬥Long-lived ventures (Living Company)
⬥Biz Model emerges from process
⬥NOT technology-based
⬥Least understood
⬥Resource Constrained, time unconstrained

8. © 2003-2017 Aviri Inc
Baron Munchhausen

9. © 2003-2017 Aviri Inc
Austin: Bootstrap City
⬥Stanford, Scott Cook, Intuit
⬥Bootstrap Austin, founded 2003
⬥Learning & Support Community
⬥Bootstrap Map: stages, principles actions

10. © 2003-2017 Aviri Inc
Bootstrap Map
rebootstrap
ideation
prod/serv/exp/
cause/community
(demo)
customer
valley
of death
($ell)
Right Action Right Time
growth
organization
(build)
founder
you
(discover)
Know
thyself
QUEST(ion)
(awaken)
Yes!meaning
Uy

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You Stage: discover, know thyself)
( )

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QUEST(ion) Stage: awaken, YES!

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Ideation Stage: demo, use everything!

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Vod Stage: sell, constraint creates innovation

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a
c
n, r,s
t!
VOD Stage: Iterate: failure = feedback
k
b

16. © 2003-2017 Aviri Inc
Growth: scale the model
⬥Systems
⬥Infrastructure
⬥Bring in the MBAs!
⬥$$$
⬥Founder transition
⬥Meaning: Essence Mining

17. © 2003-2017 Aviri Inc
Growth: scale the model
Innovator’s Dilemma

18. © 2003-2017 Aviri Inc
Bootstraps Companies are Built to Last (longer)
The Living Company
SOUTHWEST

19. © 2003-2017 Aviri Inc
A Fugue

20. © 2003-2017 aviri
Bootstrap
Funding-Driven
House of Resources
H3 + H4 = Journey Entrepreneurship
Craft
Journey
H3
H2
H4
H1

21. © 2003-2017 Aviri Inc
_____________________’s
ideation
prod/serv/exp/
cause/community
customer
valley
of death
Bootstrap Map
growth
organization
founder
you QUEST(ion)
meaning

22. © 2003-2017 Aviri Inc
Bootstrap Community
⬥Journey capital: give help, get help
⬥Learning: models, stories,
⬥Groups: Stage, Industry, Topic
⬥Boot Boards: accountability

23. © 2003-2017 Aviri Inc
Form Boot Boards
⬥5-7 members
⬥get together once a month
⬥share your progress, get feedback

24. © 2003-2017 Aviri Inc
Resources
1. Bootstrap Austin: Facebook, twitter
2. Bootstrap Map
3. Bootstrap Videos
4. Bootstrap Books
5. bootRap Podcasts
6. Mystic Cab – craft, funding-driven, bootstrap!