Patterns of Entrepreneurship Management (5^th Ed.)

CHAPTER 01 – THE ENTREPRENEURIAL PROCESS

Introduction

Profile: Wayne McVicker—A Typical Entrepreneur

An Entrepreneurial Perspective

Commonly Shared Entrepreneurial Characteristics

Types of Entrepreneurs

The Need to Control

The Spiderweb Model

Finding Early Mentors Managing Stress

The Five–Stage Entrepreneurial Process

The Growth of Entrepreneurial Companies

The Growth Period

Entrepreneurship Roller Coaster

So Why Become an Entrepreneur?

Use the Master–Case to Develop Management Skills

Summary

Study Questions Exercises

Interactive Learning on the Web

Additional Resources

Additional Cases for Reading

Endnotes

CHAPTER 02 – THE ART OF INNOVATION

Introduction

Profile: Becky Minard and Paal Gisholt—Finding a Point of Pain

Why Innovation is Important

Definition and Types of Innovation

Frameworks for Learning Innovation Skills

Finding and Assessing Ideas

Converting an Idea into an Opportunity

Opportunity: Five Phases to Success

Summary

Study Questions

Exercises

Interactive Learning on the Web

Additional Resources

Appendix: The Bayh–Dole Act (Online)

Endnotes

Chapter 3: Ideas Into Business Models

Introduction

Profile: Alexander Osterwalder

Definition of Business Models

The Business Model Canvas

Testing Assumptions and Value Proposition

Mini–case: tinyUpdates

Minimum Viable Product Concept

Mini–case: BreatheSimple

Examples of Innovative Business Models

Mini–case – DBI Using Data Collection

Mini–case – General Fasteners, Locking in Customers

Licensing and Franchising

Mini–Case – ChemStation

Models Built Around Social Networks

Corporate Partnering

Summary

Study Questions

Exercises

Interactive Learning on the Web

Additional Resources

Endnotes

CHAPTER 04 – CUSTOMERS, MARKETS, COMPETITORS IN A DIGITAL WORLD

Introduction

Profile: Brian Halligan co–founder of Hubspot

Conducting Marketing Research using digital marketing channels to Start the Venture

Mini–Case: BreatheSimple Market Research

Using digital channels to create demand

Formulating a Successful Marketing Plan

Defining the Market Segmentation

Conducting a Competitive Analysis

Preparing the Pricing and Sales Strategy

Penetrating the Market and Setting Up Sales Channels

Summary

Study Questions

Exercises

Interactive Learning on the Web

Case Study: Smart Card LLC Marketing Plan

Appendix: Marketing Research Techniques Additional Resources

Endnotes

CHAPTER 05 – USING THE CROWD

Introduction and definition of crowdsourcing

Profile: Daniel Gulati, FashionStake

Closed vs. Open Innovation

Motivational Reasons to Contribute to the Crowd

Types of Crowdsourcing

Applications of Crowdsourcing

Intellectual Property Issues

Summary

Study Questions

Exercises

CHAPTER 06 – WRITING THE WINNING BUSINESS PLAN

Introduction

Profile: Nikolay Shkolnik—Business Plan Turns a Dream into Reality1

The Value of a Business Plan Setting Goals and Objectives

Starting the Process to Write the Plan: Canvas model and the Five Steps

Determining What Type of Business Plan Is Best

A Lean and Full Business Plan Format and Content

Understanding Why Business Plans Fail Summary

Study Questions Exercises

Case Study: Surfparks LLC (Online)

Appendix: The Roadmap Guide for Writing a Business Plan

Interactive Learning on the Web Additional Resources

Endnotes

CHAPTER 07 – SETTING UP THE COMPANY

Introduction

Profile: Ethan Wendle and Matt Chverchko—When to Convert from an S– to a C–Corporation

Identifying What Form of Ownership Is Best

Forms of Doing Business

Sole Proprietorship

C–Corporation

S–Corporation Partnership

Limited Liability Company

Business Start–Up Checklist Summary

Study Questions

Exercises for determining best form of ownership

Interactive Learning on the Web

Endnotes

CHAPTER 08 – FUNDING THE VENTURE

Introduction

Profile: Jason Cong, AutoESL Inc.—Super Angels, VC, and Corporate Investors

The State of the Venture Capital Industry Super–Angels

Equity Investment Fundamentals

Using Private Equity for Fundraising

Understanding the Venture Capital Process

Guide to Selecting a Venture Capitalist

Private Placements and Crowdfunding

Home Runs or Singles?

Corporate Debt

Strategic Partnerships and Corporate Investments

How to Value a Business at the Early Stage Summary

Study Questions Exercises

Case Study: Coretek, Inc. Interactive Learning on the Web Additional Resources

Appendix 1: Due Diligence Checklist (Online)

Appendix 2: Model Venture Capital Term Sheet—Series A Preferred Stock (Online)

CHAPTER 09 – MANAGING RESOURCES—MONEY AND PEOPLE

Introduction

Profile: Paul Silvis—Conserving Cash While Building an Embracing Culture

Financial Statements

The Value of the Balance Sheet

The Value of an Income Statement

The Value of a Cash Flow Statement

Preparing Financial Projections

Preparing an Annual Budget

Preparing a Cash Flow Forecast

Preparing a Breakeven Analysis

Analyzing an Investment Decision

Taxes and Filing

The Stresses of Managing Money

Managing Human Resources—Introduction

Developing a Strong Corporate Culture

Finding and Hiring the Best People

Dealing with Firing an Employee

Dealing with a Resignation

Conflicts of Interest and Business Ethics

Legal Issues

Setting Up Stock–Option Agreements

Summary

Study Questions Exercises

Interactive Learning on the Web

Additional Resources

Appendix: Legal Document Templates (Online)

Endnotes

CHAPTER 10 – Communicating the opportunity

Introduction

Profile: Craig Bandes—Matching

Presentations to Investors

Locating Investors

Preparing a Teaser

The Elevator Pitch

Note on Confidentiality

After the Presentation Summary

Study Questions

Exercises

Interactive Learning on the Web

Endnotes

CHAPTER 11 – EXITING THE VENTURE

Introduction

Profile: Alan Trefler—Private to Public Ownership

Why Create an Exit Strategy and Plan

Selling an Equity Stake to a Strategic Partner

Valuing a Later–Stage Company Implementing the Plan of Action Selling the Business

Preparing a Selling Memorandum Merge with Another Business

Using an Employee Stock Ownership Plan (ESOP)

Using a Management Buy–Out (MBO)

Consider a Public Offering

Summary

Study Questions Exercises

Interactive Learning on the Web Additional Resources

Endnotes

Chapter 12 – SOCIAL ENTREPRENEURSHIP

Introduction

Social Entrepreneurs and Green Initiatives

Profile: Khanjan Mehta—A Social Entrepreneur

To Profit or Not to Profit

Social Entrepreneurship and Tax Issues

Differences between Business and Social Entrepreneurs

Stakeholder Issues and Challenges

Growth and Management Challenges

Enhanced Revenue Opportunities

Social Entrepreneurship Business Models

Using the Inverse Commons to Build a Social Enterprise

Using Social Media to Grow

Applying Other Chapters in this Book to Social Entrepreneurship

Summary

Study Questions Exercises

Interactive Learning on the Web Additional Resources

Endnotes

CHAPTER 13 – TECHNOLOGY ENTREPRENEURSHIP

Introduction

Profile: Ian Kibblewhite—An Integrated IP Strategy

Concepts Relevant to Technology–Based Companies

Intellectual Property Management

Summary

Internet IP Source Sites

Study Questions

Exercises

Interactive Learning on the Web

Additional Resources

Endnotes

CHAPTER 14 – FAMILY BUSINESSES – IMPORTANT & DIFFERENT

Introduction

Profile: Richard Edelman

The 3 Subsystem Model

Types of Family Businesses

Considerations and Challenges

Mini–Case: Motor Coils Manufacturing

Building a Legacy

Professionalization

Mini–case: Sheetz Inc.

Family Dynamics

Funding Methods

Governing the Family Firm

Family Business Capital and Competitive Advantage

Mini–case: Wilkin & Son

Summary

Study Questions

Exercises

Useful Websites

Additional Resources

Endnotes and References