book

Entrepreneur

Name: Entrepreneur
ISBN: 9781119521235

by Lars Tvede, Mads Faurholt

October 2018

Beginner

480 pages

10h 1m

English

Wiley

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COVER
INTRODUCTION BY PETER WARNOE
PART 1. ABOUT ME AS AN ENTREPRENEUR
1. MY ENTREPRENEURIAL ROLE
Why do people become entrepreneurs?What kind of entrepreneur?It has become easier!Lifestyle or growth entrepreneur?How big is the risk?How can I reduce the risk?Alternative paths to the entrepreneurial lifeRisk is relativeWhat does it require of my personality?Who are most successful?Can entrepreneurship be taught?Do I need to be an expert within the sector?Is it really as hard as they say?Is it economically worthwhile to become an entrepreneur?At what age should you become an entrepreneur?Does it require management experience to start?Does it require a lot of capital?Should I wait for the brilliant idea?Endnotes
2. MY PERSONAL EFFECTIVENESS
Decide how to tackle the unpleasant parts of your jobDon't defer your lifeOptimize the combination of work, sport and socializingCombine and time your effortsPlan your work week before it commencesA good dayRead and listen effectivelyUse voice recognitionOrganize your thoughts and control your projects effectivelyFree up time for the most important and what you do bestKeep track of the many invitationsStreamline your travelsOptimize the use of electronic productivity toolsKeep track of contactsBe practical with emailsManage your passwordsUse time-saving tools when designing documentsOrganize meaningful meetingsMaintain a positive attitudeMaintain your social ecosystemEfficiency in other wordsEndnotes
3. MY PUBLIC IMPACT
How do I get invited to give speeches?How do I prepare great speeches and presentations?How do I structure a good speech?How do I use illustrations during my speech?How do we optimize our presence at exhibitions and fairs?How do we get set up on social media?How do I use social media to become better informed?How do I promote my social media presence?How do I become a blogger and make webinars?Which equipment do I need for multimedia posting?How do I make compelling social media posts?How often should I post?How do I use social media at corporate events?What is the 70:30 rule?How can my business become well covered by the press?What should I do when I am contacted for an interview?Should I make an agreement with the journalist?Are there practical issues regarding the interview that I need to consider?How do I make journalists come back for more?Is there anything I should be careful about in interviews?Endnotes
4. MY FACE-TO-FACE IMPACT
How should I run sales processes?The sales funnelThe efficient sales meetingSales processes must be plannedMethods concerning the sales openingHow to prepare for a sales meetingUsing sales crutchesHow do I find out about the organization I am selling to?What is the sales compass?Part-closingsClosing the dealAfter-salesManaging complex salesWhat do I do if sales turn into negotiation?Can a negotiation process be scripted in advance?Partnership developmentHorse tradingLists of requirements and deadlinesEndnote
PART 2. ABOUT MY COMPANY'S IDEAS AND FUNDING
5. MY COMPANY'S BASIC IDEAS
Business idea generationTechniques to develop ideasExamples of product ideas to considerIdeas regarding speed and timingIdeas regarding marketingHow to think about ideasBut can it make money?Five mental toolsEndnotes
6. MY STRATEGIES FOR NETWORK EFFECTS
Viral effectsMulti-sided platformsThe chicken-and-egg problemUsing initial coin offeringsToken network effects

7. FOUNDING AND STARTING MY COMPANY
Where should the company be located?Other location criteriaThe quality of the overall start-up environmentHow successful are different venture scenes?The European venture capital marketWhy are European venture capitalists earning less than American VCs?Which accounting system should I use?How do I make a shareholders' agreement?How do I choose a company name and a web domain?How do I create a logo and website quickly and cheaply?What if I need a webshop?Endnotes
8. MY SOURCES OF FUNDING
Bootstrapping via free labourTypes of funding in various growth phasesWhich sources of capital can you choose between?How do investors think about return from my company?Where does the capital come from?What types of investors exist?The founders' investmentsInvestments from friends and familyFunding from business angelsHow do seed rounds work?Funding via convertible notesFunding via initial coin offeringUse of crowdfundingFunding and support from incubatorsFunding from acceleratorsFunding from venture capitalistsFounder friendlinessThe favourite childrenFunding from growth funds and private equity fundsPre-IPO financingFunding from companies, strategic investors and corporate VC fundsFunding/investment through venture debtFinancing via initial public offeringsPros and cons of external financingEndnotes
9. MY FUNDING PROCESSES
Tools you need from the startThe pitch and the summaryThe written summaryThe pitch emailsExcel with financialsDemo reel or physical working demoThe pitch deckHow should my pitch deck look?The pitch meeting: what's on investors' minds?The trend is your friendWhat do investors think about presenters at pitch meetings?How do I run my pitch meeting?Famous first wordsHow do investors determine my company valuation?Some mechanics of valuation calculations you need to knowWhat should I be aware of in the shareholders' agreement when dealing with investors?The term sheetWhat should I think about the term sheet they gave me?How does the share subscription work?How can I raise loan capital?Can I avoid raising capital by streamlining my working capital?How do I get grants for my business?Endnotes
PART 3. ABOUT MY TEAM AND MY CORPORATE CULTURE
10. MY CORE TEAM
Should I have a co-founder?Important discussions between foundersEntrepreneurs' deepest motives – from the investors' point of viewWho are the ideal co-founders?Relevant work experienceThe ability to understand each otherThe crucial differenceThe shareholders' agreementWhat is the value of previous experience?What is the idea worth?Dynamic versus static equity allocation?Which founder should be the CEO?How do I work with boards?A great boardHow should I cooperate with my board?How should my board meetings play out?Do I need a mentor, coach or advisory board?Endnotes
11. MY OUTSOURCING AND MY STAFF
When should I outsource?Crowdsourcing – the coolest outsourcingHow do I structure an employment process?How do I find my candidates?No-go companies and preferred companiesHow do I cooperate with recruiters?What about references?How do I interview a candidate?About highway builders in start-upsHow do I remunerate employees in my start-up?How do option schemes work?What should happen when an employee starts?Tell your colleagues who you have hiredWhat about job titles?How should I fire people?What if a CEO should be replaced?Purpose, virtuosity, culture and autonomyThoughts on cultureThe monkey's worldHow to avoid politicsStart-ups are unpolishedEndnotes
PART 4. ABOUT MY COMPANY'S GROWTH, STRATEGIES AND CHALLENGES
12. MY GROWTH PHASES
Product-centred developmentTraditional marketing cascadeAgile business developmentInquisitive TomCustomer development during the discovery phaseUser storiesThe earliest market analysis – desk researchThe earliest market analysis – field researchBusiness plans versus business canvasesThe validation phaseThe efficiency phaseFrom nailing to scalingHow the market for a product evolvesHow distribution structures change as markets evolveEndnotes
13. MY MARKETING MIX
Segmentation approachesWhat are mass customization and big data?Becoming ‘category king’Product policyWhich pricing strategies can I choose from?What is crucial to my promotion?Guerrilla marketingOptimization of the marketing mix in head-to-head competitionHow the company can be strengthened through alliancesWhen and how do I make a marketing plan?Endnotes
14. MY FIVE BIGGEST COMMERCIAL THREATS
Mistake #1: poor product/market fitMistake #2: internal disputesMistake #3: premature scalingMistake #4: unbalanced scalingMistake #5: unsuccessful transition from early adopters to mainstreamEndnotes
PART 5. ABOUT MY EXIT AND WHAT COMES AFTER
15. MY ALTERNATIVE EXIT ROUTES
Why should I sell out?In which ways can I make an exit?How do I sell shares on secondary markets?How do I sell to strategic partners?Selling shares to the publicWhat about my own role after a sale?Endnote
16. MY EXIT PROCESSES
How do I increase the exit value?How do I make a trade sale?What is my role after the trade sale?How does an IPO play out?What is the due diligence process and what is the red herring?How do the lock-up period and green-shoe work?Roadshow, quiet period, pricing, book building and allocation
17. MY NEXT PROJECT
We and our hubrisShould I become a serial entrepreneur?Lifestyle projectsFinancial investmentsAngel investmentsDo charityFinal words …Endnote
APPENDIX A: 116 BUSINESS STRATEGIES FOR ENTREPRENEURS
APPENDIX B: 46 TYPICAL CRITERIA FOR SUCCESS IN START-UP COMPANIES
APPENDIX C: LIST OF USEFUL WEBSITES, APPS AND WEB-EXTENSIONS FOR ENTREPRENEURS
GLOSSARY
ABOUT THE AUTHORS
INDEX
END USER LICENSE AGREEMENT

Content preview from Entrepreneur

PART 4.ABOUT MY COMPANY'S GROWTH, STRATEGIES AND CHALLENGES

12. My growth phases
13. My marketing mix
14. My five biggest commercial threats

Let us assume that you have your idea, your first funding, your business and your team in place, and now you need to do business!

But, how? How, for example, is operating a small start-up different from working in a well-established, large company? Which stages will your start-up go through? And how can you as manager in a start-up plan while going through the huge uncertainty you will experience? Which strategies can you choose from? When does each of these make most sense?

This chapter is about where the greatest strategic start-up opportunities lie and how you can create home runs. It touches on the typical traps that make start-ups fail. To address this, we present a selection of models, working methods, checklists and tools that we have found useful in our own entrepreneurial work.

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Entrepreneur

by Lars Tvede, Mads Faurholt

PART 4.ABOUT MY COMPANY'S GROWTH, STRATEGIES AND CHALLENGES

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.