Extraordinary Entrepreneurship [Hardback]The Professional′s Guide to Starting an Exceptional Enterpriseby Stephen C. Harper
Usually ships within 2 to 4 working days Description of Extraordinary EntrepreneurshipDon′t let your innovative business idea sit on the shelf one more day! Extraordinary Entrepreneurship is packed with insights on how to create an exceptional enterprise and examples of ventures that were created to capitalize on market gaps. It also provides more than 600 "Entrepreneurial Dos and Don′ts" from interviews with 200 successful entrepreneurs.
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Press and Industry Reviews"Customers today are more open to new ideas. It's an incredible time to start a new business or introduce a new product because people are eager to try new things."- Howard Schultz, CEO of Starbucks "Dr. Harper has ingeniously captured and collected literally hundreds of years of entrepreneurial experience into an easy-to-read experience. Chapters 6 and 7 are the best treatment I've seen on business plans. You will find Chapters 8 through 12 extremely valuable if you ever seek funding of any kind-especially venture capital." -Scot Wingo, cofounder of ChannelAdvisor Corporation "Dr. Harper captures the excitement and anxiety, the courage and commitment, and the concepts and tools that stand at the very heart of entrepreneurship. He opens the door and gives us an insightful, comprehensive look at the entrepreneurial way of life-an attitude, a process, and a journey by which we can turn compelling ideas into profitable realities." -Roger Rains, founder of Global Analytics "Extraordinary Entrepreneurship touches all the essential steps an entrepreneur needs to start and grow his business. Steve tells it straight and to the point. His 'reality checks' contain all the essential ingredients for success." - Michael Cain, entrepreneur and angel investor "Dr. Harper demonstrates that opportunities are everywhere . . . as long as you offer a product or service that truly fills a need. Many of the techniques profiled in Chapter 3 have contributed to our success. More important, we will use a number of the new techniques in the future." - Dr. Roy A. Archambault, DPM, founder of Xero Products "Dr. Harper demystifies the process of critically evaluating each business opportunity. He has reminded us that opportunities have not dwindled after the age of irrational exuberance, but instead require both the enthusiasm of a true believer and the pragmatism of a sage. In a profession defined by risk and gamble, he asks the challenging questions that lead to the most confident solutions." - Michael Rhoades, founder of Learning Perspectives, Inc. Write a review of this book Customer Reviews from AmazonAbout Stephen C. HarperSTEPHEN C. HARPER is President of Harper and Associates, Inc., a management consulting firm. He is also Progress Energy/Betty Cameron Distinguished Professor of Entrepreneurship at The University of North Carolina at Wilmington. Steve has worked with entrepreneurs in the United States and Canada for more than thirty years. He is on the editorial review board of the Journal of Business and Entrepreneurship and serves on the board of directors of Wachovia Bank (Wilmington area), and the Coastal Entrepreneurial Council, of which he is a cofounder and a former president and executive director.Contents of Extraordinary EntrepreneurshipPrefaceAcknowledgments 1. Essential Entrepreneurial Qualities and Capabilities Step One: Know Thyself! Check Your Motives Show Me the Money? Step Two: Developing the Entrepreneurial Profile Step Three: Identifying the Entrepreneurial Gaps Step Four: Can You Bridge the Entrepreneurial Gaps? Step Five: Supplementing Your Skills and Capabilities Personal Qualities that Can Make a Difference Entrepreneurs Dont Have To Be Inventors Entrepreneurs Need To Be Entrepreneurs Entrepreneurs Need To Be Leaders Entrepreneurs Need To Be Managers There Are Various Types of Entrepreneurs Wanted: An Entrepreneur for All Seasons Key Entrepreneurial Qualities Never Underestimate the Value of Experience Conclusion: I Do Not Have Superhuman Powers! 2. What Type of Venture Do You Have in Mind? Lifestyle Ventures: An Alternative to Working for Someone Else Modest Ventures: Viable Ventures But Not That Profitable Promising Ventures: Capitalizing on Hospitable Markets High-Growth Ventures: Professional Management Is Essential Revolutionary Ventures: Rolling the Dice to Change the World Factors Affecting New Venture Success and Growth Operating at the Edge: The Innovation Portal Conclusion: In Search of Goodness of Fit 3. Identifying New Venture Opportunities New Venture Creation Process Mistake 1: Dont Succumb to Entrepreneurship by Braille Mistake 2: Dont Expect Customers to Come to You The Door is Wide Open for Entrepreneurial Ventures Is There an Ideal Business Situation? Identifying Business Opportunities: Raise Your Opportunity Antennae Change Brings Challenges and New Venture Opportunities The Marketplace Is Exploding with Entrepreneurial Opportunities Developing a Kaleidoscope Perspective Can Help Identify Opportunities Examples of Market Gaps that Were Filled by Perceptive Entrepreneurs Techniques for Identifying Business Opportunities Acquiring Ideas versus Inventing them Alliances and Joint Ventures Can Open Entrepreneurial Doors Franchises May Offer New Venture Opportunities Sold! Buying a Business to Capitalize on an Opportunity Keep a Notebook of Potential Entrepreneurial Opportunities Broaden Your Perspective: Opportunities Are Out There Stop, Look, and Listen Look Ahead Listen and Ask Most Large and Established Companies Are Not Entrepreneurial Conclusion: The Door Is Wide Open for Entrepreneurial Ventures 4. Ventures That Capitalized on Market Gaps Entrepreneurial Perceptiveness Created Some of Todays Household Names Pick an Area and Identify Potential Opportunities Proximity Plays a Key Role in Identifying Market Gaps Enter the Brave New World of the Netrepreneurs Opportunities Also Exist in the Softer Side of Technology Entrepreneurs Relish the Opportunity to Change the Rules of the Game Adopting a Kaleidoscope Perspective Regulation and Deregulation International Opportunities Conclusion: The Possibilities Are Limitless! 5. Evaluating New Venture Opportunities New Venture Creation Process Step Four: Evaluating New Venture Opportunities Evaluation Thresholds and Critical Mass Reflections: What Can Prospective Entrepreneurs Learn from the Original Wave of Dotcoms? Its Time to Apply Various Screens for Evaluating the Opportunities What Does the Overall Market Look Like? What Is the Nature and Duration of the Window? First Mover Advantage: The Jury Is Still Out What Is the Nature of the Target Market? What Is the Competitive Situation? How Distinct Will Your New Ventures Market Offering Be? Identifying Each Opportunitys Resource Requirements What Happens if None of the Opportunities Exceeds the Three Thresholds? Ranking the Opportunities Its Time to Determine if the Market Truly Values Your Product/Service Concept Step Four: Market Research Round Two Step Five: Learning from the Market Research Step Nine: Its Time to Test Market Your Product/Service Its Time for the Dog Food Test Step Twelve: Estimating Demand How to Use Market Research to Look before You Leap: An Example Testing Patent Ability and Market Acceptance Its Time for a Technical and Logistics Test Vulnerability Analysis Conclusion: Insights Identify Opportunities and Reduce Risk 6. Developing the Business Plan Role of the Business Plan Yes, You Really Need to Prepare a Business Plan! Developing a Business Plan Takes Commitment Business Plan is a Reflection of the Entrepreneur Basics of the New Venture Business Plan Nature of Planning: Constructing a Business Model for the Venture Business Plan Puts Things in Perspective Documentation, Documentation, and More Documentation Business Plan Provides Focus Separate the Funding from the Plan Business Plans, Like Entrepreneurs, Come in All Shapes and Sizes Plan Evolves through a Number of Iterations Going from the Preliminary Plan to the Comprehensive Business Plan Comprehensive Business Plan Will Require Additional Brain Power Find a Mentor Who Will Help You Shoot the Rapids External Advisors/Service Providers Business Plan Fosters Execution Avoid Paralysis by Analysis Business Plan Must Be a Living Document Business Plan Emphasizes Hitting the Target, Not Hitting the Bulls Eye! Business Plan Should Provide a Compelling Reason for Creating the Venture Business Plan Shows How You Plan to Deal with Risk Software Is Not the Panacea Resist the Temptation to Outsource the Business Plan Time Line for Preparing and Writing the Business Plan Conclusion: Predicting Rain versus Building Arks! 7. Components of the Business Plan Plan Must Fulfill its Purpose Confidentiality: The Nondisclosure Agreement Executive Summary Table of Contents Context Industry Marketing Part of the Business Plan: Selecting the Right Target Market Competitive Matrix Competition Market Offering/Competitive Advantage How Will Your Competitors Respond? Your Marketing Mix Must Focus on Your Target Markets Bulls Eye Product/Service Strategy Price Strategy Promotion Strategy Distribution Strategy Getting Your First Customers Financial Part of the Business Plan Projecting Sales Projected Income Statements Projected Initial Capital Requirement Projected Cash Flow Projected Balance Sheets Key Financial Ratios and Indicators Sources and Uses of Funds Budgeting and Financial Management Operational Issues Key Risks and How They Will Be Addressed Exit Strategy Summary of the Business Plan Appendices Conclusion: The Plan Is Not an End in Itself 8. Sources of Funding Entrepreneurs Need to Know The Facts of Funding Life Developing an F-Plan for Your Venture Amount, Timing, and Type of Funding Play a Critical Role in the F-Plan Proactive Ways to Raise and Conserve Cash Funding Sources They Come in All Shapes and Sizes Conclusion: Funding Should Be Tailored to Your Unique Venture 9. Debt Financing Advantages of Debt Financing Disadvantages of Debt Financing Commercial Loans Are Tied to the Concept of Leverage What Entrepreneurs Need to Know about Banks Not All Banks Are Alike Banks Prefer Certain Types of Loans Banks Do Not Like to Make Small Loans What Do Bankers Look for When Reviewing a Loan Request? Documentation, Documentation, Documentation Prepare to Enter the World of Bankers Developing a Favorable Relationship with the Bank and Banker Prospecting: Finding the Right Bank and the Right Banker Timing: Adopt the Gretzky Approach Covenants: The Banks Ten Commandments SBA Financing May Be a Possibility Conclusion: Borrowing Money Is Possible if You Know What You Are Doing 10. Seeking Investors Stages of Funding Are Closely Tied to the Stage of New Venture Evolution Each Stage of Evolution Has its Own Financing Challenges Nature of the New Venture Will Affect its Ability to Attract Investors Profiles of Investor Categories Types of Angels Angels Help Bridge the Equity Gap Who Are Angel Investors? Degree of Involvement Angels Can Leverage Their Positions Beware of Strangers Bearing Gifts How Are Angels Different from Venture Capitalists? Conclusion: Angels Fill a Critical Void 11. Going the Angel Route How Do You Find Angel Investors? Timing Plays an Important Role When Seeking Funding To Attract an Angel: Think Like an Angel Doing the Deal: How the Deal May Be Structured Valuation Can Make or Break a Deal Tips on Prospecting: Look for Goodness of Fit Profile of the Ideal Angel Profile of the Ideal Investment Why Do Angels Reject Deals? Investors Wanted: Using Intermediaries, Angel Networks, and Electronic Listings Dont Forget about Legal Issues When Seeking Investors Tips When Seeking Angel Funding Its a Whole New Ballgame Exit Strategy: Begin with the End in Mind A Few Reminders When Seeking Angel Investors Conclusion: Angel Route Offers 12. Venture Capital Funding 1 in 1000: Start-ups Rarely Qualify for Funding 30 Seconds: Gone in the Blink of an Eye! 2 in 100: Many May Seek Funding But Few Are Chosen 2 in 10: Of the Few that Are Chosen, Even Fewer Will Succeed How Do Venture Capital Funds Work? Venture Capital Firms Provide Smart Money Securing Venture Capital Is Not Just a Funding Event Embark on the Venture Capital Journey with Both Eyes Open Timing is Everything: VCs Rarely Fund a Business Before its Time Venture Capitalists Fill a Gap in the Financial Marketplace Show Me the Money! Venture Capital Criteria Choose the Right Venture Capital Firm(s) Know Thyself and What You Want Out of the Deal Submitting the Request for Funding: Have Your Act Together and Dont Self-Destruct Presentation to Venture Capitalists What Happens Next? Conclusion: Its a Whole New Ballgame! 13. Initial Public Offering Taking the Firm to the Next Level IPO: Its Benefits IPO: Its Drawbacks Will Your Firm Fit the IPO Profile? Timing Plays a Key Role in Going Public Valuation: Art and Science Combined Investment Bankers: Take My Firm Public, Please! Choosing the Investment Banker Selling to the Public versus Doing an Initial Public Offering Legal Counsel: An Important Part of Your IPO Team Conclusion: The IPO Process Is Not Simple Nor Is it Easy Epilogue- Entrepreneurial Do's and Dont's Take the Mirror Test: Take a Good Look at Yourself, Your Life, and What Is Driving You? Time Is Your Enemy: You Will Never Have Enough Time Preparation: Stack the Odds in Your Favor Management: Who Ever Said it Would Be Easy? The Business Plan: The Mental Journey Must Precede the Physical Journey Strategy: How Do You Plan to Gain Sustainable Competitive Advantages? Human Resources: You Will Only Be as Good as Your People Financial Side: Money Is Like Oxygen You Need it to Live The Business Opportunity and Business Concept Market Opportunity: Analyze the Marketplace and Do the Right Marketing Marketing Plan Marketing: Competition Marketing: Customers Suppliers: You Cant Live without Them Legal: Its a Minefield Out There! Things to Remember after You Have Started Your Business Closing Points |
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