Bootstrap Network

From Entrepedia: The Entrepreneurship Wiki

The Bootstrap Network is a global movement that has seen its greatest focus in Austin, Texas, where it was founded. However, its open source, community based approach makes it open to international entrepreneurs looking for alternatives to Venture Capital funding and "cookie-cutter" business models, in which, to quote founder Bijoy Goswami, bootstrapping "was somewhat disdained - if you hadn't raised $5MM, you weren't a bona fide entrepreneur"^[1]

The Bootstrap Network seeks to:

Remind entrepreneurs of the low-capital path available to them
Articulate and understand the unique rules of the bootstrap game
Provide a supportive community where we share ideas, solve problems and collaborate ^[1]

Describing the two main models of entrepreneurship, funding-driven entrepreneurship in cookie-cutter entrepreneurship, the Bootstrap Network locates bootstrapping as the third option, taking "the best from both models, using the founders' unique passions and talents, leveraging constraint to fuel innovation and allow the business model to emerge from the process."^[1]

1 Community
2 Organisation Structure
3 Founder: Bijoy Goswami
4 References

Community

The Bootstrap Network describes one of its primary aspirations as the ability to provide a community of trust and support for other bootstrapping entrepreneurs. They describe this support as being, "At the most basic level... simply the ability to share our experiences and struggles - we know that we're not alone and there are others like us facing similar challenges. At a more practical level, we offer advice and direct help."^[1] Where there is an established Bootstrap Network community, particularly in Austin but increasingly in other cities in America and globally, monthly meet-ups have been organised. There is also an online community for bootstrap entrepreneurs, similar to Facebook or MySpace, where like-minded entrepreneurs can connect and share experiences and advice.

The Bootstrap Network also offers the Bootstrap Bootcamp, a 90min DVD and live course developed by Bijoy on the stages, actions and principles of bootstrapping, as well as a Book Club and Podcast to further their goal of spreading knowledge to entrepreneurs about the benefits of bootstrapping, and how to implement it effectively into their funding mentality.

Organisation Structure

The Bootstrap Network is a service provided by Aviri, Bijoy's company. The network itself operates as a "for-profit with a non-profit/open-source mindset" ^[1] that aims to keep membership costs as close to free as possible. The membership fee is charged in Bootstrap Karma, the internal time exchange system used as the Bootstrap community's internal currency which allows Bootstrap members to trade time with each other. The exchange rate is listed as 1 BK = 1 hour of time.

The Bootstrap Network wiki describes the structure as "an example of an emerging set of organizations which blur the lines between public service and profit-making. We are committed to empowering and organizing entrepreneurs and educating them in the bootstrap way."^[1] The network is not run by committee or by a board, and membership is extended to those who are invited by mutual agreement. Members can remain within the network so long as they adhere to the organization's rules of conduct, but Bootstrap reserves the right to ask members to leave for any reason.

Founder: Bijoy Goswami

Bijoy Goswami was born in Bangalore, India but lived quite an international life before coming to the U.S., attending Stanford University in 1991 to study Computer Science, Economics, History, and inter-disciplinary honours in Science, Technology, and Society. He co-founded Aviri software in April 2000, but in 2003, he began his career in earnest, focusing on his work as a model-builder, bootstrapper and evangelist. Goswami's biography, available from BijoyGoswami.com, describes the heart of his work as "express[ing] and communicat[ing] his models through books, music, film, community, and websites. The process also deepens his understanding of the models and how to effectively convey them."^[2] It was through this work that Bijoy started The Bootstrap Network in July 2003, when he and 20 fellow bootstrappers met in a pub in Austin. ^[1]