entrepreneurs are often creative and ingenious in bootstrapping their ventures a
ID: 441997 • Letter: E
Question
entrepreneurs are often creative and ingenious in bootstrapping their ventures and in getting a great deal out of limited resources. identify at least two or three entrepreneurs whose companies exceed $3million in sales and are less than 10years old and who have started their conpanies with less than $25,000 to 50,000of initial seed capital.
what methods, resources, and techniques did they devise to acquire resources?
why were they able to do so much whith so little?
what assumptions, attitudes, and mind-sets seemed to enable them to think and function in this manner?
what patterns, similarities and differences exist among the entrepreneurs you interviewed?
what impact did these minimizing bootstrapping approaches have on their abilities to conserve cash and equity and to create future options or choices to pursue other opportunities?
how did they devise unique incentive structures in the deals and arrangements whith their people, suppliers, and other resources provides( their first officer space or facility, brochures, etc)?
in lieu of money, what other forms of currencydid they use, such as bartering for space, equipment, or people or giving on extra day off or an extra day off or an extra week's vacation?
can they think od examples of how they acquired (gained control of ) a resource they could afford to pay for with real money and did not?
money experienced entrepreneurs say that for first-time entrepreneurs it cna be worse to start with too much money rather that too little. how do you see this, and why?
some of the strongest new companies are started during an economic recession, among tight credit and capital marketd. it is valuable to develop a lean-and-mean, make-do, less-is-more philosophy and sense of frugailty and budgetary discipline. can you think od any examples of this? do you agree or disagree? can you think of opposite eamples,such as companies started at or near the peak od the 1990s economic boom with more capital and credit than they needed?
Explanation / Answer
entrepreneurs are often creative and ingenious in bootstrapping their ventures a
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