Entrepreneurial finance (harback)

About half of all new businesses fail in the first five years. So whether you're bringing your new idea to market or investing in new ventures, make sure you have the tools, state-of-the-art valuation methods, and practical knowledge you need to make smart business decisions.

Now updated with late4-breaking data and references, Smith and Smith's ENTREPRENEURIAL FINANCE, 2^nd Edition equips you with an effective framework of financial economic principles to guide you through the process of incubating and growing a new venture. You'll learn to think of new ventures as portfolios of real options, value financial claims of the entrepreneur and venture capital investors, and structure financial contracts in light of new venture information problems.

KEY FEATURES

• Applies financial economic theory and the economics of contracts to the study of entrepreneurship and new venture finance.
• Blends finance theory with the practical aspects of new venture financing.
• Emphasizes the importance of strategy in new venture planning.
• Uses a valuation perspective to approach topics such as strategic planning, business planning, financial modeling, assessing financing needs, raising outside financing, structuring financial contracts with investors, and harvesting.

VALUABLE SOFTWARE AND ONLINE RESOURSES

• Venture SIM^TM, the authors' own custom simulation software.
• Cases complete with downloadable Excel templates.
• Tutorials on suing the simulation software, basic finance and statistical concepts, and on the more technical valuation tools covered in the text.
• Downloadable valuation templates.

Chapter 1. Introduction.

Chapter 2. An Overview of New Venture Financing.

PART 2. FINANCIAL ASPECTS OF STRATEGIC AND BUSINESS PLANNING.

Chapter 3. The Business Plan.

Chapter 4. New Venture Strategy.

Chapter 5. Developing Business Strategy Using Simulation.

PART 3. FINANCIAL FORECASTING.

Chapter 6. Methods of Financial Forecasting.

Chapter 7. Assessing Financial Needs.

PART 4. VALAUATION.

Chapter 8. The Framework of New Venture Valuation.

Chapter 9. Valuation in Practice: The Investor's Perspective.

Chapter 10. Valuation: The Entrepreneur's Perspective.

PART 5. ORGANIZATIONAL DESIGN AND FINANCIAL CONTRACTING.

Chapter 11. Financial Contracting with Symmetric Information.

Chapter 12. Dealing with Information and Inventive Problems.

Chapter 13. Financial Contracting.

PART 6. FINANCING AND HARVESTING CHOICES.

Chapter 14. Venture Capital.

Chapter 15. Choice of Financing.

Chapter 16. Harvesting.

PART 7. CONCLUSION.

Chapter 17. The Future of Entrepreneurial Finance: A Global Perspective.

Index.