Entrepreneurial Bootstrapping Basics
PRE-MEETING DINNER at 5:15 PM (sharp) at Bertucci’s, Waltham
Entrepreneurs often think that the only way to grow their business is to raise capital from VCs or angel investors. While outside capital can fuel growth, it also carries a considerable cost in terms of time expended, loss of equity and loss of control. Surveys indicate that for the year ended 2011, of the 543,000 new business created in the U.S., only 29,626 (that is, only 5%) received VC or angel investor funding at the seed or early stage startup phase. And for many companies, the lack of VC or angel investment did not impede growth.
In August 2012, Inc. Magazine published its list of the 500 Fastest Growing Private Companies in the U.S., and 77% of the founders of those companies set up using only their own personal savings, with two thirds needing less than $100,000 to get started. And while 34% stated that access to external capital has been essential for growth, 42% have not utilized external funding in developing their business. Also, 74% have financed their growth over the past three years largely through cash flow from operations.
So, how do you do it? In a word – Bootstrapping. That is - using your own resources and effectively managing your cash flow to internally generate the funds that you need to operate your startup business.
Apple, Google and HP all began in garages with free rent and we will hear from three experienced CEOs who have also built their business using bootstrapping techniques without VC or angel investment until they achieved important milestones and were well on their away. In some cases, they progressed all the way through to a successful acquisition exit without external funding.
6:30-7:30 PM - Registration & networking
7:30-7:40 PM - ENET Chairman's announcements
7:40-7:55 PM - E Minute - Up to 3 Startup companies’ presentations
7:55-8:45 PM - 3 expert speakers on the night's topic
8:45-9:00 PM - Audience / Speakers Q & A
900-930 PM - Final networking includes meeting presenting speakers
A question and answer session follows the presentation, and panelists will be available afterwards for responses to individual questions. As with every ENET meeting you will also get the chance to network with the panelists and other meeting attendees, both before the start of the meeting and afterwards.
Igor Belagorudsky, President @ FastCTO, Co-founder and President @ KwipShare.
Igor is an Angel Investor; Startup Founder, Mentor, Advisor and Consultant, and above all, a technical, hands-on professional with over 20 years of experience. Serial entrepreneur having most recently scaled Erecruit from a team of 3 to over 120, through several rounds of investments and to a successful sale for $62.8M. Active in the Boston startup scene as a founder, advisor, pitch competition judge and angel investor. Confident full stack enterprise architect in several technology ecosystems. Trusted leader and mentor of professional services and R&D teams in multiple timezones and industries. Big believer in smart and transparent teams, open communication across the entire organization and leadership by example. Outside of work, avid skier, slow runner, decent hiker and dad.
Cheryl Hajjar, Founder & CEO @ Indigo Pixies and CEO @ Maid Brite Residential & Commercial Cleaning.
Cheryl is a serial entrepreneur, Cheryl has started multiple businesses in her career. From the start up phase to the revenue phase, Cheryl has a great understanding of how to grow a company. She has won grant funding in accelerator programs from MIT, E forAll and the University of Southern New Hampshire as well as raised funding from investors. Her children’s toy company, Indigo Pixies is endorsed by Harvard Business School and was also featured in the Mom Invented Handbook. Cheryl also owns Maid Brite Cleaning; a residential and commercial cleaning company that services the Greater Merrimack Valley and Southern New Hampshire. Cheryl is also a former National fitness competitor, published songwriter, children’s book author and public speaker. She lives in Bradford, Ma. with her 16 year old son Dylan and fiance, Jayson.
Tony Coufal, CTO @ IIoT-Oxys Corporation.
Tony is a multicultural leader with over 20 years’ experience building and growing cutting edge technology focused service companies in the US and LATAM markets. He operated businesses in IT/Telecom, Microwave and Cellular networks, Construction, Electrical, HVAC, Security to name a few. Today he is CTO of IIoT-Oxys Corporation where he helps develop and implement IIoT, Edge, and AI based solutions for manufacturing in the Pharma/Biotech/Medtech, Automotive Manufacturing, Aerospace and Defense, and Agriculture Industries.
Karen Miller, Co-founder @ DoInk (DK Pictures, Inc).
Karen is a serial technology entrepreneur whose previous company she co-founded, DOME Imaging Systems, Inc. a medical imaging company, was sold successfully to Planar Systems, returning $70M on a $2M angel investment.after earlier bootstrapping. Since then, Karen co-founded DoInk, a leading educational app company. The Green Screen by Do Ink app was featured in iTunes as a “Best New App” in Education two weeks after its release and is now a top iOS app downloaded in over 120 countries. The Animation and Drawing by Do Ink app was selected an “App Store Essential."
Robert Adelson, business and tax attorney, partner @ Engel & Schultz LLP (Boston) and Chair Emeritus @ Boston Entrepreneurs’ Network (ENET).
Rob has been an attorney for over 30 years specialized in business, tax, stock and options, employment, contracts, financing, trademarks and intellectual property. Rob began as an associate at major New York City law firms before returning home to Boston in 1985 where he has since been a partner in small and medium sized firms before joining his present firm in 2004. Rob represents entrepreneurs, start-ups and small companies, independent contractors and employees and executives. Rob is a frequent speaker on business law topics and author of numerous articles published in Boston Business Journal, Mass High Tech and other publications. He has been named among the “Top 20 Boston Startup Lawyers” by ChubbyBrain.com, a website that provides tools for entrepreneurs. Rob has been on the ENET Board since 2002, was Vice Chair 2005-2009, and ENET Chairman 2009-2019. He was also a Co-Founder and Board member of the 128 Innovation Capital Group (2004 -2015). In 2016, he received the IEEE USA Professional Achievement award for “extreme dedication to the entrepreneurship community.” He holds degrees from Boston University, B.A., summa cum laude, Northwestern University (Chicago), J.D., Law Review, and New York University, LL.M. in Taxation. His website - www.ExecutiveEmploymentAttorney.com
Eric S. Johansson
E-Minute Presentations will be given at the start of the meeting. These very short presentations enable young startup entrepreneurs to gain experience in presenting their summary business plans to expert panels and audiences.
Directions: Constant Contact is adjacent to RT 128 / 95 at Exit 28B.
Reservations: ENET Constant Contact meetings are free to ENET members and $20 for non-members. No reservations are needed for the pre-meeting dinner. To expedite sign-in for the meeting, we ask that everyone -- members as well as non-members -- pre-register for the online. Pre-registration is available until midnight the day before the meeting. If you cannot pre-register, you are welcome to register at the
LOCATION: Constant Contact is adjacent to RT 128 / 95 at Exit 28B. See: http://www.constantcontact.com/about-constant-contact/office-location-wa...
REFRESHMENTS: Cheese, crackers, chips, cookies, soft drinks & juice will be served at this meeting.
COST AND RESERVATIONS: ENET Constant Contact meetings are free to ENET members and $20 for non-members. No reservations are needed for the pre-meeting dinner. To expedite sign-in for the meeting, we ask that everyone -- members as well as non-members -- pre-register for the online. Pre-registration is available until midnight the day before the meeting. If you cannot pre-register, you are welcome to register at the door.
PRE-MEETING DINNER: Join us for a pre-meeting networking dinner (self-pay) at Bertucci’s in Waltham before the start of this meeting. Dinner at 5:15 sharp. No reservations required for the pre-meeting dinner.
REFUND POLICY: If you cancel your registration before the event, ENET will refund your registration fee in the form of a credit towards a future ENET event.