Description
Book Synopsis"Finally a textbook about entrepreneurship written by those who have actually done it rather than just studied it."
–W. Don Stull,
Texas Tech University The majority of new businesses don’t survive their first year.
Launching Successful Ventures teaches students the nuts and bolts of creating new ventures while helping them avoid the common pitfalls that often lead to failure. Entrepreneurial exercises, case studies, step-by-step guidelines, and in-depth coverage of important financial topics such as managing cash flow, equity capital, and debt and investment capital are designed to help students build sustainable, lucrative ventures. Authored by successful serial entrepreneurs and award-winning researchers Michael Fountain and Tom Zimmerer, this new text provides a concise, practical guide for students seeking to develop high-growth ventures.
Trade Review"Finally a textbook about entrepreneurship written by those who have actually done it rather than just studied it." -- W. Don Stull
"This is a practical hands-on approach that is worth considering for your course–concise and full of meaningful exercises and examples." -- Violet Z. Christopher
"This book is a great resource for potential entrepreneurs and a good foundation for those brave enough to strike out on their own." -- Kim L. Wangler
"Launching Successful Ventures is a decent resource for an introductory or mid-level course. It has the potential to be an excellent resource alongside writing a business plan. It also offers a detailed breakdown of the most vital concepts comprising entrepreneurship." -- Adam Starks
"This book is well written with concepts that would engage students’ intellect in the Launching New Venture class." -- Benjamin K. Ofili
"Practical with meaningful learning activities." -- Ayisha E. Sereni
"This text attempts to offer the new entrepreneur a guide for success and focuses a good deal of attention on the analytical skills that many new entrepreneurs lack." -- Aaron M. Butler
"This text is tuned for the high-growth venture founder who has a preconceived business concept." -- Stephen E. Lanivich
"An excellent tool for entrepreneurship classes." -- William J. Carner
"A great text for non-business majors, students without prior business knowledge, or nascent entrepreneurs to quickly gain an understanding of the process of entrepreneurship and access to some tools to quickly get them working on building their business." -- April J. Spivack
Table of ContentsPreface Acknowledgments About the Authors Chapter 1. The Entrepreneurial Venture Chapter Learning Objectives The Entrepreneur Types of Entrepreneurial Ventures Where Are Today’s Entrepreneurs Coming From? Your Challenge Global Entrepreneurship and the Acceleration of Competition Customer-Focused Business Models Developing an Entrepreneurial Culture The Need for Continuous Change Social Entrepreneurship in Our Economy Conclusion Entrepreneurial Exercises Chapter 2. Creativity and Market Viability Chapter Learning Objectives In Search of the Valuable Idea The Power of Human Creativity Screening and Evaluating Ideas Market Evaluation Steps Creating a Potential Adopter Profile Building an Opportunity Evaluation Model The Seven-Part Assessment Model Assessing the Actual Market Potential: The Ugly Realities Conclusion Entrepreneurial Exercises Chapter 3. Industry and Competitive Analysis Chapter Learning Objectives Assessing the Industry The Macroenvironmental Analysis Process Components of the Macroenvironment Stages of Industry Development Analyzing Industry Behavior Competitive Analyses and Competitive Profile Matrices Creating Your Business Model Entrepreneurial Exercises Chapter 4. New Venture Marketing Chapter Learning Objectives Customers and the Market “Market Disruptors” Switching Cost: A Barrier to Adoption Market Research and Market Segmentation Effective Marketing Strategies Components of a Marketing Strategy Product Strategies Place Strategies Pricing Strategies Promotion Strategies Conclusion Entrepreneurial Exercises Chapter 5. The Financial Plan Chapter Learning Objectives By the Numbers Financial Analysis Basic Financial Statements Breakeven Analysis and the Pro Forma Financial Statement Financial Ratio Analysis Conclusion Entrepreneurial Exercises Chapter 6. Cash Flow Management Chapter Learning Objectives Cash and Profits Are Not the Same Cash Flow Process Cash Flow Management: Inventories Cash Flow Management: Accounts Payable Avoiding the Cash Crunch Conclusion Entrepreneurial Exercises Chapter 7. The Founder and the New Venture Team Chapter Learning Objectives Founder’s Responsibility The Founder as Leader Leadership in Action Team Member Success = Organizational Success Team Member Selection Creating an Ethical Environment Conclusion Entrepreneurial Exercises Chapter 8. Forms of Ownership Chapter Learning Objectives Protecting Intellectual Property Protecting Intellectual Property Rights Selecting an Appropriate Form of Ownership Business Licenses and Permits Contracts Selecting an Attorney Conclusion Entrepreneurial Exercises Chapter 9. The Business Plan Chapter Learning Objectives The Value of Writing a Business Plan Road Map to Success Challenges of the Business Plan Structure of the Business Plan Presenting the Business Plan Entrepreneurial Exercises Chapter 10. Equity Capital Chapter Learning Objectives Equity Capital Sources of Equity Financing Types of Equity Instruments Raising Equity Capital Entrepreneurial Exercises Chapter 11. Debt and Alternative Forms of Investment Capital Chapter Learning Objectives Fundamentals of Non-Equity Financing Government Sources of Capital Entrepreneurial Exercises Chapter 12. Structuring the Deal Chapter Learning Objectives Managing Investor Expectations Valuing the Start-Up Company Example of a Draft Private Placement Memorandum Entrepreneurial Exercises Chapter 13. Harvesting the Venture Chapter Learning Objectives Preparing For Your Exit Selling the Venture Mergers Public Liquidity Event Bankruptcy Entrepreneurial Exercises Cases Case 1: Never Underestimate the Power of Marketing Case 2: A Little Bit of Science Never Hurts Case 3: When Adversity Strikes Case 4: Knowing When to Regroup Case 5: When to Trust Your Gut Case 6: Listen to Customers and Advance Incrementally Case 7: Mitigate Risk Case 8: Venture Capitalist Turned Entrepreneur Case 9: Living an Entrepreneur’s Life Case 10: To Sell or Not to Sell References Index
