Table of Contents:
Preface

List of Cases and Profiles



Part One: Getting Started as An Entrepreneur

Chapter 1 The Entrepreneurial Process

Introduction
Profile: Wayne McVicker--A Typical Entrepreneur
An Entrepreneurial Perspective
Commonly Shared Entrepreneurial Characteristics
Types of Entrepreneurs
The Need to Control
The Spider web Model
Finding Early Mentors
Managing Stress
The Five-Stage Entrepreneurial Process
The Growth of Entrepreneurial Companies
The Growth Period
Entrepreneurship Roller Coaster
So Why Become an Entrepreneur?
Use the Master-Case to Develop Management Skills
Summary
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Additional Cases for Reading
Endnotes


Chapter 2 The Art of Innovation

Introduction
Profile: Becky Minard and Paal Gisholt--Finding a Point of Pain
Why Innovation is Important
Definition and Types of Innovation
Frameworks for Learning Innovation Skills
Finding and Assessing Ideas
Converting an Idea into an Opportunity
Opportunity: Five Phases to Success
Summary
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Endnotes


Chapter 3 Designing Business Models

Introduction
Profile: Neal Deangelo--Using Data Collection1
Definition of Business Models
Frameworks for Constructing Business Models
Capturing Value in the Supply Chain
Using Databases to Create Value
Locking- In Customers
Example: General Fasteners
Licensing and Franchising
Outsourcing Resources
Models Built around Social Networks
Corporate Partnering
Summary
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Endnotes


Chapter 4 Analyzing the Market, Customers and Competition

Introduction
Profile: Donn Rappaport--Marketing Visionary1
Conducting Marketing Research to Start the Venture
Mini-Case: Breathe Simple "Smokescreen" Market Research2
Formulating a Successful Marketing Plan
Defining the Market Segmentation
Conducting a Competitive Analysis
Positioning the Product or Service
Preparing the Pricing and Sales Strategy
Penetrating the Market and Setting Up Sales Channels
Summary
Study Questions
Exercises
Interactive Learning on the Web
Case Study: Smart Card LLC Marketing Plan
Appendix: Marketing Research Techniques
Additional Resources
Endnotes


Chapter 5 Writing the Winning Business Plan

Introduction
Profile: Nikolay Shkolnik--Business Plan Turns a Dream into Reality1
The Value of a Business Plan
Setting Goals and Objectives
Starting the Process to Write the Plan: Five Steps
Determining What Type of Business Plan Is Best
A Typical Business Plan Format and Content
Understanding Why Business Plans Fail
Summary
Study Questions
Exercises
Case Study: Surf parks LLC (Online)
Appendix: The Roadmap Guide for Writing A Business Plan
Interactive Learning on the Web
Additional Resources
Endnotes


Chapter 6 Setting Up the Company

Introduction
Profile: Ethan Wendle and Matt Chverchko--When to Convert from an S- to a C-Corporation
Identifying What Form of Ownership Is Best
Forms of Doing Business
Sole Proprietorship
C-Corporation
S-Corporation
Partnership
Limited Liability Company
Business Start-Up Checklist
Summary
Study Questions
Exercises
Interactive Learning on the Web
Endnotes


Part Two: Special Topics: Social Entrepreneurship Technology Entrepreneurship

Chapter 7 Special Topic: Social Entrepreneurship

Introduction
Social Entrepreneurs and Green Initiatives
Profile: Khanjan Mehta--A Social Entrepreneur
To Profit or Not to Profit
Social Entrepreneurship and Tax Issues
Differences between Business and Social Entrepreneurs
Stakeholder Issues and Challenges
Growth and Management Challenges
Enhanced Revenue Opportunities
Social Entrepreneurship Business Models
Using the Inverse Commons to Build a Social Enterprise
Using Social Media to Grow
Applying Other Chapters in this Book to Social Entrepreneurship
Summary
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Endnotes


Chapter 8 Technology Entrepreneurship

Introduction
Profile: Ian Kibble white--An Integrated IP Strategy
Concepts Relevant to Technology-Based Companies
Intellectual Property Management
Summary
Internet IP Source Sites
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Endnotes


Part Three: Funding The Venture

Chapter 9 Early-Stage Funding

Introduction
Profile: James Dyson--Bootstrapping out of Necessity
The Virtual Company--Mini-Case, Halare Inc.
Securing Early-Stage Funding
Self-Funding--Example, Bench Prep Inc.
Moonlighting and Part-Time Consulting
Bootstrapping Methods--Example, Injection Research Specialists
Family and Friends
Angels
Micro-Equity and Micro-Loans--A Little Money, a Lot of Help
Bank Loans, Factoring, and Supplier Lines of Credit
Managing Your Personal Credit Rating
Government Sources of Funding
How to Qualify
Summary
Study Questions
Exercises
Interactive Learning on the Web
Appendix: Start-Up Entrepreneurs and Business Incubators
Web Sites of Leading For-Profit Incubators
Additional Resources
Using University Outreach Programs
Endnotes


Chapter 10 Equity Financing

Introduction
Profile: Jason Cong, AutoESL Inc.--Super Angels, VC and Corporate Investors
The State of the Venture Capital Industry
Super-Angels
Equity Investment Fundamentals
Using Private Equity for Fundraising
Understanding the Venture Capital Process
Guide to Selecting a Venture Capitalist
Private Placements and Crowdfunding
Home Runs or Singles?
Corporate Debt
Strategic Partnerships and Corporate Investments
How to Value a Business at the Early Stage
Summary
Study Questions
Exercises
Case Study: Coretek, Inc.
Interactive Learning on the Web
Addition al Resources
Appendix 1: Due Diligence Checklist (Online)
Appendix 2: Model Venture Capital Term Sheet--Series A Preferred Stock (Online)
Endnotes


Part Four: Building and Exiting

Chapter 11 Managing Resources--Money and People

Introduction
Profile: Paul Silvis--Conserving Cash While Building an Embracing Culture
Financial Statements
The Value of the Balance Sheet
The Value of an Income Statement
The Value of a Cash Flow Statement
Preparing Financial Projections
Preparing an Annual Budget
Preparing a Cash Flow Forecast
Preparing a Breakeven Analysis
Analyzing an Investment Decision
Taxes and Filing
The Stresses of Managing Money
Managing Human Resources--Introduction
Developing a Strong Corporate Culture
Finding and Hiring the Best People
Dealing with Firing an Employee
Dealing with a Resignation
Conflicts of Interest and Business Ethics
Legal Issues
Setting Up Stock-Option Agreements
Summary
Study Questions
Exercises
Interactive Learning on the Web
Additional Resources
Appendix: Legal Document Templates (Online)
Endnotes


Chapter 12 Communicating the Opportunity

Introduction
Profile: Craig Bandes--Matching Presentations to Investors
Locating Investors
Preparing a Teaser
The Elevator Pitch
Note on Confidentiality
After the Presentation
Summary
Study Questions
Exercises
Interactive Learning on the Web
Endnotes


Chapter 13 Exiting the Venture

Introduction
Profile: Alan Trefler--Private to Public Ownership
Why Create an Exit Strategy and Plan
Selling an Equity Stake to a Strategic Partner
Valuing a Later-Stage Company
Implementing the Plan of Action
Selling the Business
Preparing a Selling Memorandum
Merge with Another Business
Selling the Company to Its Managers, Employees, or Family Members
Using an Employee Stock Ownership Plan (ESOP)
Using a Management Buy-Out (MBO)
Passing on the Company to Family Members
Consider a Public Offering
Summary
Study Questions
Exercises
Interactive Learning on The Web
Additional Resources
Endnotes


Addendum: Three Case Studies Covering the Whole Book

Glossary of Terms

Index

This fourth edition prepares entrepreneurs for the rewards and pitfalls of this career choice. It explores a new theme throughout the chapters on how to effectively manage a start-up company. Focus on Real Entrepreneurs sections highlight how entrepreneurs position their companies to meet the various marketing, financial and technological challenges. Management Track sections present key management issues while following the development of a real company. Entrepreneurs will also find real situations and examples on which they can practice the broad range of skills required to start and build a company in today's complex world.