Entrepreneurship is more popular than ever: courses are
full, policymakers emphasize new ventures, managers yearn to go off on their
own. Would-be founders often misplace their energies, however. Believing in a “big
money” model of entrepreneurship, they spend a lot of time trying to attract
investors instead of using wits and hustle to get their ideas off the ground. A
study of 100 of the 1989 Inc. magazine “500” list of the fastest growing
U.S. start-ups attests to the value of bootstrapping. In fact, what it takes to
start a business often conflicts with what venture capitalists require. Seven
principles are basic for successful start-ups: get operational fast; look for
quick, break-even, cash-generating projects; offer high-value products or
services that can sustain direct personal selling; don’t try to hire the crack
team; keep growth in check; focus on cash; and cultivate banks early. Subjects
covered include development-stage enterprises, entrepreneurial finance,
entrepreneurship, and venture capital.
The Featured Tracks are:
1. Introduction
2. The Big Play
3. The False Promise
4. The Bottom Line
5. The Manager’s Role
6. Sustaining the Hustle
7. Exceptions to the Rule
8. Measuring Risk
9. Recruiting Hustlers
10. The Value of Vision;
11. Amar Bhide’s Biography.
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