Entrepreneurship Skills for New Ventures (Hardcover, 4 ed)

About the Authors Preface Part I: Selecting The New Venture 1 What's Entrepreneurship About? Do You Want to Start Your Own Business? Entrepreneurs and Small Business Pros, Cons, and Myths of Entrepreneurship Entrepreneurship Characteristics and Orientation The Entrepreneurial Process Preparing to Become an Entrepreneur 2 New Venture Options: Do You Want to Start a New Business, Buy One, be a Franchisee, or a Corporate or Nonprofit Entrepreneur? What Type of New Venture do You Want to Start? Starting a New Business Buying an Existing Business Buying a Franchise Buying Licensee Rights Starting a New Venture as a Corporate Entrepreneur Starting a New Venture Nonprofit Family Business as an Entrepreneurial Option 3 What Business? How do You Find Opportunities and Develop a Business Model? Creativity and Opportunity Developing Creative Skills Entrepreneurial Characteristics for Recognizing and Exploiting Opportunities Opportunities in Trends Solving Problems Creates Opportunities Developing Your Business Model Other Options for Starting a New Venture, and Entrepreneurial Behavior 4 How do You Assess the Chances of Venture Success? Feasibility Analysis and Protecting the Business Model Legally Feasibility Analysis Are Your Products and Services Feasible? Are Your Industry and Target Market Feasible? Are Your Operations Feasible? Are Your Profits Feasible? Is Your Business Model Feasible? Protecting Your Ideas and Intellectual Property Legally Other Options for Starting a New Venture, and Entrepreneurial Behavior Part II: Planning The New Venture 5 Business Planning: What's Your Legal Form and Strategy? From Business Model to Business Plan The Business Plan, Why it is Important, and Resources Major Sections of the Business Plan Legal Form of Ownership Strategy Formulation of the Business Plan Other Options for Starting a New Venture, and Entrepreneurial Behavior 6 The Marketing Plan: Who are Your Customers? The Interrelationship Between the Marketing Plan and the Other Business Plan Components Identify the Target Customer and Forecast Sales Through Marketing Research Product Price Place Promotion Advertising and the Media Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net 7 The Location and Layout Plan: What Facilities do You Need? The Interrelationships Between Location and Layout and Other Business Plan Components Selecting the Location Lease, Buy, or Build Facilities Facility Layout Sources of Information Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net 8 The Operations Plan: How Will You Make the Product? The Interrelationship Between the Production/Operations Function and Other Business Plan Components Operations and the Transformation Process Supply Chain Management Inventory Scheduling Quality Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net 9 The Human Resource Plan: How do You Develop the New Venture Team and Employees? The Interrelationship Between the Human Resources Function and the Other Business Plan Components The New Venture Team The Human Resource Management Process Attracting Employees and Independent Contractors Developing, Retaining, and Terminating Employees Management Succession and Exit Strategies Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net 10 The Finance Plan: How Much Money do You Need? The Interrelationship Between the Accounting Function, Taxation, and the Other Business Plan Components Financial Statement Basics Pro Forma Cash Flow Statement Breakeven Analysis Taxation Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net Part III: Financing And Controlling The New Venture 11 Sources of Funds: Where do You Get the Money? The Interrelationship Between the Financial Function and the Other Business Plan Components Determining Capital Needs Sources of Equity Financing Sources of Debt Financing Sources of Bootstrap Financing Government-Sponsored Agencies Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net 12 Controls: How do You Keep the New Venture on Track? The Interrelationship Between Control, Financial Analysis, and the Other Business Plan Components Organizational Controls and Quality Budgets Financial Ratio Controls and the Balanced Scorecard Risk Management Other Options for Starting a New Venture, and Entrepreneurial Behavior Take it to the Net Appendix A: Where Can You Get Help? Sources of Domestic and Global Assistance Appendix B: The Business Plan Example Notes Index