Ep. 38 - Introduction to Bootstrap Entrepreneurship with Bijoy Goswami

Hi there folks! Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists and creatives to learn the ropes of entrepreneurship. This episode features Bijoy Goswami who joined us in November during our roundtable event on Bootstrap. You'll actually hear from him again in two weeks! This episode is the overview of the bootstrap business model and an outstanding overview of the other forms of business models out there. Let's hop in and hear what he has to say! 0:00 to 1:20 - Ashland Opening Remarks and Intro of Bijoy Goswami, Founder of Bootstrap Austin Link to Bijoy's Slides 1:21 to 4:12 - Musical Fugue and Human Fugue Definition of Fugue and Framework of Human Fugue Model Watch a Fugue! Four (4) Basic Houses of Human Fugue  Phenomena Rights  Resources Meaning Processes inside of houses to deal with each house Phenomena -- scientific methord Rights -- democracy // Produces laws Resources -- observe a problem, create a solution, sell to a customer // Produces business models Meaning 4:13 to 10:42 - Paths of Entrepreneurship Three different paths of entrepreneurship Craft Entrepreneurship Cookie cutter business - franchise Easy to enter businesses, hard to differentiate Present everywhere Funding-Driven VCs, Silicon Valley Investor is driving the whole story Invests in multiple endeavors expecting very few to succeed Creation of novel business models Most fail Hollywood Example Constrained by time, unconstrained in resources Bootstrap In-between these models Low cost, but not implementing a cookie cutter model Discovery of new business model, but using process of bootstrapping to discover the model Least understood because it's the least studied Term comes from Baron Munchausen pulling himself out of a swamp by his bootstraps Constrained in resources, unconstrained in time Austin examples - Tito's, Kendra Scott  10:43 to 13:15 - Steps in the Bootstrap Map You Stage - key action is discover // get to know yourself Question Stage - key action is awaken // embark on hero's journey Ideation Stage - key action is demo // create something Valley of Death Stage - key action is sell // find customers Growth Stage Rebootstrap, no model lasts forever 13:20 to 16:28 - Ashland Closing Remarks Book I'm reading - Originals by Adam Grant Tempered radicalism concept from book Like this podcast? Great! A rating and review is so helpful! Stay in touch, email us ([email protected]) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook) Big thanks to Jamal Knox (audio engineer) and Chris James (composer)! Link to Bijoy's Slides If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter. More on Bootstrap, so stay tuned! Thanks! Ashland, Creatives Meet Business