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Launching Successful Ventures
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Launching Successful Ventures

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November 2018 | 352 pages | SAGE Publications, Inc
“Finally a textbook about entrepreneurship written by those who have actually done it rather than just studied it.”

–W. Don Stull, Texas Tech University 

The majority of new businesses don’t survive their first year. Launching Successful Ventures teaches students the nuts and bolts of creating new ventures while helping them avoid the common pitfalls that often lead to failure. Entrepreneurial exercises, case studies, step-by-step guidelines, and in-depth coverage of important financial topics such as managing cash flow, equity capital, and debt and investment capital are designed to help students build sustainable, lucrative ventures. Authored by successful serial entrepreneurs and award-winning researchers Michael Fountain and Tom Zimmerer, this new text provides a concise, practical guide for students seeking to develop high-growth ventures.
 

 
Preface
 
Acknowledgments
 
About the Authors
 
Chapter 1. The Entrepreneurial Venture
Chapter Learning Objectives

 
The Entrepreneur

 
Types of Entrepreneurial Ventures

 
Where Are Today’s Entrepreneurs Coming From?

 
Your Challenge

 
Global Entrepreneurship and the Acceleration of Competition

 
Customer-Focused Business Models

 
Developing an Entrepreneurial Culture

 
The Need for Continuous Change

 
Social Entrepreneurship in Our Economy

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 2. Creativity and Market Viability
Chapter Learning Objectives

 
In Search of the Valuable Idea

 
The Power of Human Creativity

 
Screening and Evaluating Ideas

 
Market Evaluation Steps

 
Creating a Potential Adopter Profile

 
Building an Opportunity Evaluation Model

 
The Seven-Part Assessment Model

 
Assessing the Actual Market Potential: The Ugly Realities

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 3. Industry and Competitive Analysis
Chapter Learning Objectives

 
Assessing the Industry

 
The Macroenvironmental Analysis Process

 
Components of the Macroenvironment

 
Stages of Industry Development

 
Analyzing Industry Behavior

 
Competitive Analyses and Competitive Profile Matrices

 
Creating Your Business Model

 
Entrepreneurial Exercises

 
 
Chapter 4. New Venture Marketing
Chapter Learning Objectives

 
Customers and the Market

 
“Market Disruptors”

 
Switching Cost: A Barrier to Adoption

 
Market Research and Market Segmentation

 
Effective Marketing Strategies

 
Components of a Marketing Strategy

 
Product Strategies

 
Place Strategies

 
Pricing Strategies

 
Promotion Strategies

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 5. The Financial Plan
Chapter Learning Objectives

 
By the Numbers

 
Financial Analysis

 
Basic Financial Statements

 
Breakeven Analysis and the Pro Forma Financial Statement

 
Financial Ratio Analysis

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 6. Cash Flow Management
Chapter Learning Objectives

 
Cash and Profits Are Not the Same

 
Cash Flow Process

 
Cash Flow Management: Inventories

 
Cash Flow Management: Accounts Payable

 
Avoiding the Cash Crunch

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 7. The Founder and the New Venture Team
Chapter Learning Objectives

 
Founder’s Responsibility

 
The Founder as Leader

 
Leadership in Action

 
Team Member Success = Organizational Success

 
Team Member Selection

 
Creating an Ethical Environment

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 8. Forms of Ownership
Chapter Learning Objectives

 
Protecting Intellectual Property

 
Protecting Intellectual Property Rights

 
Selecting an Appropriate Form of Ownership

 
Business Licenses and Permits

 
Contracts

 
Selecting an Attorney

 
Conclusion

 
Entrepreneurial Exercises

 
 
Chapter 9. The Business Plan
Chapter Learning Objectives

 
The Value of Writing a Business Plan

 
Road Map to Success

 
Challenges of the Business Plan

 
Structure of the Business Plan

 
Presenting the Business Plan

 
Entrepreneurial Exercises

 
 
Chapter 10. Equity Capital
Chapter Learning Objectives

 
Equity Capital

 
Sources of Equity Financing

 
Types of Equity Instruments

 
Raising Equity Capital

 
Entrepreneurial Exercises

 
 
Chapter 11. Debt and Alternative Forms of Investment Capital
Chapter Learning Objectives

 
Fundamentals of Non-Equity Financing

 
Government Sources of Capital

 
Entrepreneurial Exercises

 
 
Chapter 12. Structuring the Deal
Chapter Learning Objectives

 
Managing Investor Expectations

 
Valuing the Start-Up Company

 
Example of a Draft Private Placement Memorandum

 
Entrepreneurial Exercises

 
 
Chapter 13. Harvesting the Venture
Chapter Learning Objectives

 
Preparing For Your Exit

 
Selling the Venture

 
Mergers

 
Public Liquidity Event

 
Bankruptcy

 
Entrepreneurial Exercises

 
 
Cases
Case 1: Never Underestimate the Power of Marketing

 
Case 2: A Little Bit of Science Never Hurts

 
Case 3: When Adversity Strikes

 
Case 4: Knowing When to Regroup

 
Case 5: When to Trust Your Gut

 
Case 6: Listen to Customers and Advance Incrementally

 
Case 7: Mitigate Risk

 
Case 8: Venture Capitalist Turned Entrepreneur

 
Case 9: Living an Entrepreneur’s Life

 
Case 10: To Sell or Not to Sell

 
 
References
 
Index

Supplements

Instructor Resource Site

Password-protected Instructor Resources include the following:

  • Test banks provide a diverse range of pre-written options as well as the opportunity to edit any question and/or insert your own personalized questions to effectively assess students’ progress and understanding.
  • Editable, chapter-specific PowerPoint® slides offer complete flexibility for creating a multimedia presentation for your course.
  • Teaching Notes includes sample answers to the end-of-chapter entrepreneurial exercises. 

“Finally a textbook about entrepreneurship written by those who have actually done it rather than just studied it.”

W. Don Stull
Texas Tech University

“This is a practical hands-on approach that is worth considering for your course–concise and full of meaningful exercises and examples.” 

Violet Z. Christopher
Antelope Valley College

“This book is a great resource for potential entrepreneurs and a good foundation for those brave enough to strike out on their own.” 

Kim L. Wangler
Appalachian State University

“Launching Successful Ventures is a decent resource for an introductory or mid-level course. It has the potential to be an excellent resource alongside writing a business plan. It also offers a detailed breakdown of the most vital concepts comprising entrepreneurship.” 

Adam Starks
Alderson-Broaddus University

“This book is well written with concepts that would engage students’ intellect in the Launching New Venture class.” 

Benjamin K. Ofili
Northeastern State University

“Practical with meaningful learning activities.” 

Ayisha E. Sereni
Montgomery County Community College

“This text attempts to offer the new entrepreneur a guide for success and focuses a good deal of attention on the analytical skills that many new entrepreneurs lack.”

Aaron M. Butler
Warner Pacific College

“This text is tuned for the high-growth venture founder who has a preconceived business concept.” 

Stephen E. Lanivich
Old Dominion University

“An excellent tool for entrepreneurship classes.” 

William J. Carner
Westminster College

“A great text for non-business majors, students without prior business knowledge, or nascent entrepreneurs to quickly gain an understanding of the process of entrepreneurship and access to some tools to quickly get them working on building their business.” 

April J. Spivack
Key features

KEY FEATURES: 

  • Designed to provide step-by-step guidance through the entrepreneurial process and encourage students to apply key concepts to any potential real-world business venture.
  • Entrepreneurial exercises provide students with hands-on opportunities to apply chapter concepts. 
  • Real-world case studies introduce students to challenges and opportunities that entrepreneurs encounter.

Preview this book

Sample Materials & Chapters

Chapter 3: Industry and Competitive Analysis

Chapter 10: Equity Capital


For instructors

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