Interestingly enough this song is not about the band Boston. Many people just figure it is because the way the lyrics are laid out being in the first person and they sing about being from Boston, which they are. Group leader Tom Scholz wrote the song based on conversations he had with Jim Masdea,  a local musician whom played with many bands in Boston. Masdea mentioned to Tom Scholz about struggling bands trying to get signed to record contracts.
Boston had quite the opposite experience of the group they sing about here.
Boston didn't pay their dues on the road, Boston released such a well-produced album it became an instant hit. They didn't bother to tour at all before the album was released .
http://youtu.be/0aN_k5F8PZc