At the Indianapolis Lean Startup Circle November 2011 meetup, James Paden gave a great talk about the differences between Lean Startups and Bootstrapping. He highlighted the major difference being that bootstrapped startups are unlikely to try to spend money most of the time, while Lean Startups do so strategically to get validated learning quickly and once they have validated learning (product/market fit.) James cited Steve Blank’s post titled Lean Startups Aren’t Cheap Startups and Ben Horiwitz’s The Case for the Fat Startup.
Check out the slides here:
(Having trouble seeing the slides? Click here)
In an effort to get practice with the fine line between doing things the “Lean Startup way” and the “bootstrapping way”, two of the co-organizers of the Indianapolis Lean Startup Circle came up with some scenarios to work through. They stress the complicated nature of having few resources and needing to get validated learning. The people who attended the meetup seemed to really enjoy the exercise. Check out the exercise here!