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Patterns of Entrepreneurship Management, 3rd Edition
by
Kaplan, Jack M., Columbia Business School ; Warren, Anthony C., Pennsylvania State University
Publisher: John Wiley & Sons
Publishing Date: 2009/08/03
eText ISBN-10
0-470-55981-0
eText ISBN-13
978-0-470-55981-9
Print ISBN-10
0-470-16969-9
Print ISBN-13
978-0-470-16969-8
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Patterns of Entrepreneurship Management, 3rd Edition
by
Kaplan, Jack M., Columbia Business School ; Warren, Anthony C., Pennsylvania State University
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Copyright, ii
Preface, iii
List of Cases and Profile...
Part One. Getting Started...
Part Two. Money Sources—F...
Part Three. Implementatio...
Part Four. Communicating ...
Addendum: Three Case Stud...
Notes, 393
Glossary of Terms, 403
Index, 409
Table of Contents
Copyright, ii
Preface, iii
List of Cases and Profiles, x
Part One. Getting Started as an Entrepreneur, 1
Chapter 1. What Is an Entrepreneur?, 3
Introduction, 3
Profile: Wayne McVicker—A Typical Entrepreneur, 4
An Entrepreneurial Perspective, 5
Commonly Shared Entrepreneurial Characteristics, 5
Types of Entrepreneurs, 6
The Need to Control, 7
Entrepreneurship Roller Coaster, 9
So Why Become an Entrepreneur?, 9
Use the Master-Case to Develop Management Skills, 10
Summary, 11
Study Questions, 11
Exercises, 11
Interactive Learning on the Web, 12
Appendix: The Master-Case, Neoforma, Inc., 12
Neoforma—A Summary of the Master-Case, 13
Additional Resources, 17
Chapter 2. The Entrepreneurial Process, 21
Introduction, 21
Profile: Ted Graef and Scott Johnson—Getting Started with an Off-the-Shelf Idea, 22
The Spiderweb Model, 22
Finding Early Mentors, 23
Managing Stress, 24
The Five-stage Entrepreneurial Process, 25
The Growth of Entrepreneurial Companies, 29
The Growth Period, 29
Summary, 30
Study Questions, 30
Exercises, 30
Interactive Learning on the Web, 31
Additional Resources, 31
Chapter 3. The Art of Innovation—Developing Ideas and Business Opportunities, 35
Introduction, 35
Profile: Becky Minard and Paal Gisholt—Finding a Point of Pain, 36
Why Innovation Is Important, 40
Definition and Types of Innovation, 41
Frameworks for Learning Innovation Skills, 43
Finding and Assessing Ideas, 48
Converting an Idea into an Opportunity, 49
Opportunity: Five Phases to Success, 50
Summary, 59
Study Questions, 60
Exercises, 60
Interactive Learning on the Web, 60
Appendix: The Bayh-Dole Act, 61
Additional Resources, 61
Chapter 4. Analyzing the Market, Customers, and Competition, 65
Introduction, 65
Profile: Donn Rappaport—Marketing Visionary in Using Data, 66
Formulating a Successful Marketing Plan, 67
Preparing the Marketing Analysis and Plan, 68
Defining the Market Segmentation, 71
Conducting a Competitive Analysis, 74
Preparing the Pricing and Sales Strategy, 76
Penetrating the Market and Setting Up Sales Channels, 78
Summary, 80
Study Questions, 82
Exercises, 82
Interactive Learning on the Web, 83
Case Study: Smart Card LLC Marketing Plan, 84
Appendix: Marketing Research Techniques, 86
Additional Resources, 89
Chapter 5. Writing the Winning Business Plan, 91
Introduction, 91
Profile: Nikolay Shkolnik—Business Plan Turns a Dream into Reality, 92
The Value of a Business Plan, 93
Setting Goals and Objectives, 94
Starting the Process to Write the Plan: Five Steps, 95
Determining What Type of Business Plan Is Best, 97
A Typical Business Plan Format and Content, 99
Understanding Why Business Plans Fail, 104
Summary, 105
Study Questions, 107
Exercises, 107
Case Study: Surfparks LLC, 108
Appendix: The Roadmap Guide for Writing a Business Plan, 121
Interactive Learning on the Web, 125
Additional Resources, 125
Chapter 6. Setting Up the Company, 127
Introduction, 127
Profile: Ethan Wendle and Matt Chverchko—When to Convert from an S- to a C-corporation, 128
Identifying What Form of Ownership Is Best, 129
Forms of Doing Business, 129
Sole Proprietorship, 129
C-corporation, 132
S-corporation, 138
Partnership, 140
Limited Liability Company, 142
Business Start-up Checklist, 143
Summary, 147
Study Questions, 148
Exercises, 149
Interactive Learning on the Web, 150
Part Two. Money Sources—Finding and Managing Funds, 151
Chapter 7. Bootstrapping and Financing the Closely Held Company, 153
Introduction, 153
Profile: James Dyson—Bootstrapping out of Necessity, 155
Securing Early-stage Funding, 157
Self-funding, 157
Family and Friends, 161
Using Factoring and Bank Loans as a Source of Cash, 161
How to Use Commercial Banks, 162
Using Government Sources of Funding, 167
Summary, 170
Study Questions, 171
Exercises, 172
Interactive Learning on the Web, 172
Appendix: Start-up Entrepreneurs and Business Incubators, 172
Additional Resources, 176
Chapter 8. Equity Financing for High Growth, 181
Introduction, 181
Profile: Matt Brezina—Staged Investments, 183
Equity Investment Fundamentals, 183
Angel Investors, 193
“Microequity”—Little Money with a Lot of Mentoring, 194
Understanding the Venture Capital Process, 195
Guide to Selecting a Venture Capitalist, 198
Private Placements, 199
Strategic Partnerships and Corporate Investments, 200
Learning How to Value a Business, 202
Summary, 208
Study Questions, 209
Exercises, 209
Case Study: CoreTek, Inc., 210
Interactive Learning on the Web, 211
Additional Resources, 211
Appendix 1: Due Diligence Checklist, 214
Appendix 2: Model Venture Capital Term Sheet—Series a Preferred Stock, 219
Chapter 9. Managing the Money, 231
Introduction, 231
Profile: Alvin Katz—Managing Cash in Tight Situations, 232
The Value of the Balance Sheet, 233
Review and Analysis of the Balance Sheet, 234
The Value of an Income Statement, 241
How to Use Ratios for Profitability, 242
The Value of the Statement of Cash Flows, 243
Understanding Footnotes to Financial Statements, 244
Preparing Financial Projections, 245
Preparing a Cash Flow Forecast, 249
Preparing a Breakeven Analysis, 252
Analyzing an Investment Decision, 254
Taxes and Filing, 256
The Stresses of Managing Money, 257
Summary, 257
Study Questions, 258
Exercises, 258
Interactive Learning on the Web, 259
Additional Resources, 259
Part Three. Implementation, 261
Chapter 10. Discovering Value in Intellectual Property: The Competitive Edge, 263
Introduction, 264
Profile: Ian Kibblewhite—An Integrated IP Strategy, 264
The Value of Trademarks, 266
The Value of Copyrights, 269
The Value of Patents, 272
How to Protect Intellectual Property, 278
Getting Started with the Patent Idea, 280
What Is Prior Art?, 280
Using Search Options, 281
Progress from Idea to Patent to Enterprise, 285
The Value of Trade Secrets, 286
Reverse Engineering, 287
Summary, 287
Study Questions, 288
Exercises, 289
Interactive Learning on the Web, 289
Internet IP Source Sites, 290
Additional Resources, 290
Chapter 11. Business Models and the Power of Information, 293
Introduction, 293
Profile: Neal DeAngelo—Using Data Collection, 294
Definition of Business Models, 297
Capturing Value in the Supply Chain, 298
Using Databases to Create Value, 299
Locking in Customers, 300
Licensing and Franchising, 301
Outsourcing Resources, 307
Models Built around Social Networks, 310
Corporate Partnering, 311
Summary, 312
Study Questions, 312
Exercises, 312
Interactive Learning on the Web, 313
Additional Resources, 314
Chapter 12. Managing the Team, 317
Introduction, 317
Profile: Paul Silvis—Building an Embracing Culture, 318
Developing a Strong Corporate Culture, 319
Finding and Hiring the Best People, 321
Dealing with Firing an Employee, 323
Dealing with a Resignation, 325
Conflicts of Interest and Business Ethics, 325
Legal Issues, 327
Setting up Stock-Option Agreements, 329
Summary, 329
Study Questions, 330
Exercises, 330
Interactive Learning on the Web, 331
Appendix: Legal Document Templates, 331
Part Four. Communicating and Exiting, 343
Chapter 13. Communicating the Opportunity, 345
Introduction, 345
Profile: Craig Bandes—Matching Presentations to Investors, 346
Locating Investors, 347
Preparing a Teaser, 349
The Elevator Pitch, 353
After the Presentation, 359
Summary, 361
Study Questions, 361
Exercises, 362
Interactive Learning on the Web, 362
Chapter 14. Scaling and Exiting the Venture, 365
Introduction, 366
Profile: Alan Trefler—Private to Public Ownership, 366
Create an Exit Strategy, 366
Selling an Equity Stake to a Partner, 367
Implementing the Plan of Action, 368
Selling the Business, 369
Preparing a Selling Memorandum, 370
Searching for Buyers, 371
Evaluating Offers, 372
Create the Letter of Intent, 373
Performing Due Diligence, 374
Closing the Deal, 375
Merge with Another Business, 375
Consider a Public Offering, 376
Determining the Benefits of Going Public, 376
Determining the Disadvantages of Going Public, 378
Managing the IPO Event, 379
Completing the Registration Process, 379
Presenting a Road Show, 381
The Expenses of Going Public, 382
Delivering Value and Meeting Market Expectations, 383
Summary, 383
Study Questions, 384
Exercises, 384
Interactive Learning on the Web, 385
Additional Resources, 385
Addendum: Three Case Studies Covering the Whole Book, 387
Notes, 393
Glossary of Terms, 403
Index, 409
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