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Inspiring and insightful, ‘Bootstrapping: Doing More with Less’ — Sramana Mitra’s new book in the EJ series — is a must-read for all of us as entrepreneurs. In a world still coming to terms with the global economic crisis, Mitra believes that entrepreneurship offers the only sustainable path forward.

In this book, the author lays emphasis on a core issue missed by most books on the subject of entrepreneurship, stating that the art of bootstrapping is not just an alternative, but an essential rung on the ladder of success for all start-ups.

Mitra raises two fundamental questions: why don’t more businesses get off the ground, and, once set up, why do so many fail? While ‘Bootstrapping…’ lucidly answers these questions, Mitra’s core hypothesis, ‘bootstrapped entrepreneurship, and not just entrepreneurship, is the true weapon of mass reconstruction’, is refreshing, especially in view of start-ups increasingly considering funding an important focus.

The media is replete with stories of ventures receiving funding; this has created a perception that if a venture has received funding, it must be good. Mitra, however, focuses on ‘mentor capital’ being the way forward, rather than ‘venture capital’.

Teeming with vivacious entrepreneurial tangents, theories and behind-closed-doors experiences, ‘Bootstrapping…’ is a must for all those looking to start up — and sustain — their own businesses.

Sramana Mitra is a technology entrepreneur and strategy consultant at Silicon Valley. She has founded three companies and writes a business blog, Sramana Mitra on Strategy (sramanamitra.com). Mitra, who holds a Master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology, is also a columnist for Forbes.