Bootstrapping Backwoods Brew

Bootstrapping Backwoods Brew Paul and Jesse threw their backpacks on empty seats as the train left the New Brunswick, NJ train station. They were headed to their internships at a real estate accounting firm a few towns down the line. Pulling their tickets out of their wallets, they grabbed seats across the aisle from each other. The two university undergraduates had met in an accounting class several semesters ago, but they became closer friends as they shared the train ride back and forth to work twice a week. During these train trips, during lunch breaks, and at school after classes they often discussed their long-term goals and aspirations. Paul, noted, “We would always talk about starting our own business.” They both wanted an independent lifestyle and they felt that starting their own firm was the vehicle that would get them there. As Jesse stated, their goal was to “not have to work for the man.”

Table 1: Backwoods Brew Event Timeline
|YEAR (approx.) |EVENT |
|1993-1994 |Idea for beer company surfaced |
|1994-1995 |Regulation research (e.g., licensing requirements, state sales tax regulations) |
| |Product development |
| |Market testing |
|March 1995 |Incorporation |
|Late 1997 |Granted State and Federal beer distribution licenses |
|April

References: Brush, C. G.; Greene, P. G. and Hart, M. M. 2001. From initial idea to unique advantage: The entrepreneurial challenge of constructing a resource base. Academy of Management Executive, 15(1): 64-78. Katz, J. and Gartner, W. B. 1988. Properties of Emerging Organizations. Academy of Management Review, 13(3): 429-441.