One of the better descriptions of bootstrapping that I have read in a long time comes from the blog Shmula when writing about lean thinking:
A Simple Principle
An unsaid principle of Lean Thinking is this, said in two different ways:
- Mind Before Money
- Creativity Before Capital
No explanation needed — before you spend money, think first; before you beg for resources, use your creativity first.
(Thanks to John Wark for passing this along).
Short and to the point. Well said!
Creative minds ? Maybe time to ditch or elimiate 50% of the MBAs and by creating MCAs?
Master of Business Creation instead of MBAs where what else are their for this fleet of “empty headers” to be administrating ? 🙂
Jeff,
Thanks for posting this. This is tremendous. Many people seem to rely on money too often to find their way, rather than finding their own way. Then, use money and capital as a supplement to the mind and creativity.
I swear by your blog. Keep up the amazing work.
Excellent Principle, I wonder how many businesses wouldn’t have failed had they used a lean thinking strategy! Now if we could just get the government to think this way.