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The premier guide to setting up and managing your business's financesWhatever business you run or plan to launch, Entrepreneurial Finance provides the essential tools and know-how you need to build a sturdy foundationthat will support it for many years to come.Entrepreneurial Finance, Third Edition, offerspotent methods for keeping firm financial control of your enterprise and insightful tips for avoiding the multitude of financial barriers that may block your entrepreneurial dream.This exciting update covers all the major topics thathave made Entrepreneurial Finance the definitive book on the subject--from understanding financialstatements and measuring cash flow to making a company profitable, valuing a company, and raising additional debt and equity capital--as well as brand-new, need-to-know information about:Marketing your crowdfunding campaign to finance not only technology companies, but also arts, sciences,biotechnology, and community development organizationsPursuing "intrapreneurship," or the financing of growth within an existing company using a mindset ofentrepreneurshipThe "Entrepreneurship Spectrum," or the many ways to pursue your dreams of running your own companyDiscovering sources of debt and equity capital for the fast-growing millions of women and minority business ownersEntrepreneurial Finance clearly explains the inescapable rules of timeless financial and business principles by using real-world examples and in-depthcase studies. It features expert coverage of phantomstock, options, and ratio analysis used for businessessmall and large.Packed with powerful financial and business techniquesyou absolutely need for success today, EntrepreneurialFinance provides the essential tools for building and maintaining steady profitability and business longevity in the most difficult economy in generations.The Definitive Finance Guide for EntrepreneursEntrepreneurial Finance is a complete, one-stop resource that provides the information and strategies you need to ensure your business gets up and running--and stays up and running.The successful founder of several companies and one of today's top entrepreneurship educators, Steven Rogers teaches you all the best practices for financially settingup and managing a business. You'll learn everything you need to know about:Business plans -- What they are, what they can do, how to prepare themFinancial statements -- How to develop them,how to analyze themMoney -- Where and how to find it, techniques for maintaining positive cash flowThis new edition brings you fully up to date with important new information on what to do and what to avoid when it comes to crowdsourcing, "intrapreneurship," and debtand equity capital, and it provides case studies of companies that were successfully launched during recessions.Working for yourself will be the toughest job you ever have, but Entrepreneurial Finance makes it easier by giving you a single resource packed with the latestresearch and step-by-step guidelines for what must be done, how to do it, and what to do when things go wrong.
Contents
Preface xiAcknowledgments xxiCHAPTER 1 The Entrepreneurial Spectrum 1Introduction 1The Entrepreneurial Spectrum 2Entrepreneurial Finance 10CHAPTER 2 Financial Statements 13Introduction 13The Income Statement 14The Balance Sheet 24The Statement of Cash Flows 28Development of Pro Formas 33Checklist of Financial Information 35CHAPTER 3 Financial Statement Analysis 37Introduction 37Proactive Analysis 37Income Statement Analysis 41Ratio Analysis 41Breakeven Analysis 50Measuring Growth 51Case Study-Clark Company 55Gross Margins 64Net Margins 72Other Issues to Consider 75CHAPTER 4 Cash Flow Management 79Introduction 79Types of Cash Flow 79Cash Flow Forecasts 82Cash Flow Management 85Accounts Receivable 88Accounts Payable 97The Cash Gap 99Working Capital 103Finding Cash 104CHAPTER 5 Valuation 107Introduction 107Valuing the Clark Company 110Premoney and Postmoney Valuations 111Why Value Your Company? 112Key Factors Influencing Valuation 115Valuation Methods 132Valuing Technology andInternet Companies 148CHAPTER 6 Raising Capital 155Introduction 155Value-Added Investors 156Sources of Capital 157CHAPTER 7 Debt Financing 161Introduction 161Types of Debt 162Sources of Debt Financing 163Creative Ways to StructureLong-Term Debt 185Long-Term Debt Rules to Live By 186Debt Financing for Working Capital 187CHAPTER 8 Equity Financing 197Introduction 197Sources of Equity Capital 198Private Placements 203Corporate Venture Capital 206Private Equity Firms 208International Private Equity 216Advice for Raising Private Equity 216Small-Business Investment Companies 218Initial Public Offerings 221Direct Public Offerings 232The Financing Spectrum 235CHAPTER 9 Financing for Minorities and Women 237Introduction 237Minorities-Debt Financing 240Minorities-Equity Financing 242Women-Debt Financing 244Women-Equity Financing 246CHAPTER 10 Taking a Job with an Entrepreneurial Firm 251Introduction 251Case Study: Considering a Job Offerfrom an Early-Stage Company 252Case Study Analysis 261CHAPTER 11 Intrapreneurship 269Introduction 269The Intrapreneurship Spectrum 270Intrapreneurship Models 272Traits of the High-Growth Intrapreneur 273Acts of Intrapreneurship 274Signs of Intrapreneurial Success 276Standard Operating Procedures 277Intrapreneurship Blunder 278CHAPTER 12 Crowdfunding 279Introduction 279Crowdfunding with Pledges 280Crowdfunding Campaigns 281Crowdfund Investing Through the JOBS Act 285Alternative Crowdfund Investing Approaches 288A Note on Crowdfunding Versus Crowdsourcing 291CONCLUSION 295Notes 297Index 311NER(01): WOW
