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Entrepreneurship, Second Edition

Book Description

Entrepreneurs who need to find the solutions to key challenges will turn to Bygrave. The second edition explores the trials and tribulations of entrepreneurship so that they'll have the necessary tools to start their own businesses. It offers new coverage on social enterprises and ethics due to the rise in green trends and corporate scandals. A new chapter has been added on entrepreneurial selling that examines how to sell to multiple stakeholders. New case studies have also been added to several chapters to provide more relevant views. In addition, updated examples and references are included to provide entrepreneurs with the most useful information.

Table of Contents

  1. Copyright
  2. PREFACE
  3. THE POWER OF ENTREPRENEURSHIP
    1. Entrepreneurship and Small Business in the United States
    2. Causes of the Entrepreneurial Revolution
    3. Global Entrepreneurship Monitor
    4. Principal Findings from GEM
    5. 21st-Century Economies: Anglo-Saxon or Social Models?
    6. CONCLUSION
    7. YOUR OPPORTUNITY JOURNAL
    8. WEB EXERCISE
    9. NOTES
    10. CASE: Malincho
  4. THE ENTREPRENEURIAL PROCESS
    1. Critical Factors for Starting a New Enterprise
    2. Evaluating Opportunities for New Businesses
    3. Determining Resource Needs and Acquiring Resources
    4. Profit Potential
    5. Ingredients for a Successful New Business
    6. CONCLUSION
    7. YOUR OPPORTUNITY JOURNAL
    8. NOTES
    9. CASE: Alison Barnard
  5. OPPORTUNITY RECOGNITION, SHAPING, AND RESHAPING
    1. From Glimmer to Action: How Do I Come Up with a Good Idea?
    2. Is Your Idea an Opportunity?
    3. The Opportunity Checklist
    4. "I Don't Have an Opportunity"
    5. CONCLUSION
    6. YOUR OPPORTUNITY JOURNAL
    7. WEB EXERCISE
    8. NOTES
    9. CASE: Jim Poss
  6. UNDERSTANDING YOUR BUSINESS MODEL AND DEVELOPING YOUR STRATEGY
    1. The Business Model
    2. The First-Mover Myth
    3. Formulating a Winning Strategy
    4. CONCLUSION
    5. YOUR OPPORTUNITY JOURNAL
    6. WEB EXERCISE
    7. NOTES
    8. CASE: Adam Aircraft
  7. ENTREPRENEURIAL MARKETING
    1. Why Marketing Is Critical for Entrepreneurs
    2. Entrepreneurs Face Unique Marketing Challenges
    3. Acquiring Market Information
    4. Marketing Strategy for Entrepreneurs
    5. Guerrilla Marketing
    6. Marketing Skills for Managing Growth
    7. CONCLUSION
    8. YOUR OPPORTUNITY JOURNAL
    9. WEB EXERCISE
    10. Appendix: Customer Interview
    11. NOTES
    12. CASE: College Coach
  8. BUILDING THE FOUNDING TEAM
    1. Power of the Team
    2. Where Do You Fit?
    3. How to Build a Powerful Team
    4. Bootstrapping: Building the Team Based on Stage-of-Venture Life
    5. Compensation
    6. External Team Members
    7. Keeping the Team Together
    8. CONCLUSION
    9. YOUR OPPORTUNITY JOURNAL
    10. WEB EXERCISE
    11. NOTES
    12. CASE: Ajay Bam
  9. THE BUSINESS PLANNING PROCESS
    1. The Planning Process
    2. The Story Model
    3. The Business Plan
    4. Types of Plans
    5. Style Pointers for the Written Plan and Oral Presentation
    6. CONCLUSION
    7. YOUR OPPORTUNITY JOURNAL
    8. WEB EXERCISE
    9. NOTES
    10. CASE: P'kolino
  10. BUILDING YOUR PRO-FORMA FINANCIAL STATEMENTS
    1. Common Mistakes
    2. Financial Statement Overview
    3. Building Your Pro-Forma Financial Statements
    4. Build-Up Method
    5. Comparable Method
    6. Building Integrated Financial Statements
    7. Putting It All Together
    8. CONCLUSION
    9. YOUR OPPORTUNITY JOURNAL
    10. WEB EXERCISE
    11. NOTES
    12. CASE: P'kolino Financials
  11. FINANCING ENTREPRENEURIAL VENTURES WORLDWIDE
    1. Entrepreneurial Financing for the World's Poorest
    2. Entrepreneurs and Informal Investors
    3. Venture Capital
    4. Factors Affecting Availability of Financing
    5. CONCLUSION
    6. YOUR OPPORTUNITY JOURNAL
    7. WEB EXERCISE
    8. NOTES
    9. CASE: DayOne
  12. RAISING MONEY FOR STARTING AND GROWING BUSINESSES
    1. Jim Poss, BigBelly Solar
    2. Bootstrapping New Ventures
    3. Valuation
    4. Financing a New Venture
    5. Harvesting Investments
    6. CONCLUSION
    7. YOUR OPPORTUNITY JOURNAL
    8. WEB EXERCISE
    9. NOTES
    10. CASE: BladeLogic
  13. DEBT AND OTHER FORMS OF FINANCING
    1. Getting Access to Funds—Start with Internal Sources
    2. Cash Conversion Cycle
    3. Working Capital: Getting Cash from Receivables and Inventories
    4. Using Accounts Receivable as Working Capital
    5. Sources of Short-Term Cash: More Payables, Less Receivables
    6. Obtaining Bank Loans Through Accounts Receivable Financing
    7. Obtaining Loans against Inventory
    8. Obtaining "Financing" from Customer Prepayments
    9. Choosing the Right Mix of Short-Term Financing
    10. Traditional Bank Lending: Short-Term Bank Loans
    11. Equipment Financing
    12. Obtaining Early Financing from External Sources
    13. Planning Cash Flow and Planning Profits
    14. CONCLUSION
    15. YOUR OPPORTUNITY JOURNAL
    16. WEB EXERCISE
    17. NOTES
    18. CASE: FEED Resource Recovery
  14. LEGAL AND TAX ISSUES
    1. Leaving Your Present Position
    2. Choosing an Attorney and an Accountant
    3. Choice of Legal Form
    4. Choosing a Name
    5. Stockholders' and Operating Agreements
    6. Legal and Tax Issues in Hiring Employees
    7. Insurance
    8. Raising Money
    9. CONCLUSION
    10. YOUR OPPORTUNITY JOURNAL
    11. WEB EXERCISE
    12. NOTES
    13. CASE: Cadence Design Systems and Avant! (A)
  15. INTELLECTUAL PROPERTY
    1. The Basics: What Is Protectable and How Should It Be Protected?
    2. Patents
    3. Trade Secrets
    4. Trademarks
    5. Copyright
    6. Summing Up
    7. International Protection for Intellectual Property
    8. Licensing and Technology Transfer
    9. Software Protection
    10. The Internet
    11. IP Agreements
    12. CONCLUSION
    13. YOUR OPPORTUNITY JOURNAL
    14. WEB EXERCISE
    15. NOTES
    16. CASE: Cadence Design Systems and Avant! (B)
  16. ENTREPRENEURIAL GROWTH
    1. Making the Transition from Startup to Growth
    2. A Model of Driving Forces of Growth
    3. The Growth Process
    4. Execution
    5. Opportunity Domain
    6. Organizational Resources and Capabilities
    7. Leadership
    8. CONCLUSION
    9. YOUR OPPORTUNITY JOURNAL
    10. WEB EXERCISE
    11. NOTES
    12. CASE: Lazybones
  17. SOCIAL ENTREPRENEURSHIP: AN OVERVIEW
    1. Definition
    2. New Forms of Organizations
    3. Getting Started
    4. CONCLUSION
    5. YOUR OPPORTUNITY JOURNAL
    6. WEB EXERCISE
    7. NOTES
    8. CASE: Earthwatch
  18. Glossary