Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
Answers to Questions in the Text
Chapter 12: Bootstrapping for Resources
ENTREPRENEURSHIP IN ACTION
Gregor Lawson, AFG Media / MorphCostumes (formerly Morphsuits)
1. What evidence do you see of Gregor Lawson and his co-founders using assets other
than cash to get their business started?
2. What level of accomplishment did the entrepreneurs have to achieve before they were
able to secure investment capital?
3. What insights does this example provide to help you get your venture started with little
to no cash?
ENTREPRENEURSHIP MEETS ETHICS
Bootstrapping for Resources
1. Do you want to work in a company with a cultural story about success achieved from
lying or tricking others?
2. How much “embellishment” is it acceptable for entrepreneurs to convey about their
product or service?
Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
3. How do you determine the point at which an embellishment has to be acknowledged
and the truth told—or the embellishment exaggerated even further?
RESEARCH AT WORK
Crowdfunding: A Revolutionary Change in Funding New Ventures
1. What would you consider to be the pros and cons of crowdfunding?
2. How would you use crowdfunding to raise funds for your own project?
3. How would you ensure your product was delivered on time to meet demand and
expectations?
MINDSHIFT
Kickstarter Assessment
1. What conclusions can you draw about the project category you chose? In what ways is it
typical or atypical of Kickstarter projects?
Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
2. Of the top five reasons for success, which do you think are most attainable for your
entrepreneurial idea?
3. Of the top five reasons for failure, which do you think your entrepreneurial idea is most
vulnerable to?
Summary Questions
1. Define bootstrapping and illustrate how it applies to entrepreneurs.
Bootstrapping is the process of starting and building a business with very little start-up capital.
2. Identify common bootstrapping strategies used by entrepreneurs.
The list of common bootstrapping techniques is extensive. It includes ideas like using the home
3. Explain the difference between crowdsourcing and crowdfunding.
4. Describe the effects of crowdfunding on entrepreneurship.
5. Define the four contexts for crowdfunding.
Instructor Resource
6. Explain the advantages of crowdfunding for entrepreneurs.
7. Describe ways in which entrepreneurs can conduct a successful crowdfunding campaign.
Crowdfunding is flexible and exciting but not without its challenges; it is not free money.