Entrepreneurial Finance, Third Edition: Finance and Business Strategies for the Serious Entrepreneur

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  • Edition: 3rd
  • Format: Hardcover
  • Copyright: 2014-04-15
  • Publisher: McGraw-Hill Education
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The premier guide to setting up and managing your business’s finances

Whatever business you run or plan to launch, Entrepreneurial Finance provides the essential tools and know-how you need to build a sturdy foundation that will support it for many years to come.

Entrepreneurial Finance, Third Edition, offers potent 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 that have made Entrepreneurial Finance the definitive book on the subject--from understanding financial statements 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 organizations
  • Pursuing "intrapreneurship," or the financing of growth within an existing company using a mindset of entrepreneurship
  • The "Entrepreneurship Spectrum," or the many ways to pursue your dreams of running your own company
  • Discovering sources of debt and equity capital for the fast-growing millions of women and minority business owners

Entrepreneurial Finance clearly explains the inescapable rules of timeless financial and business principles by using real-world examples and in-depth case studies. It features expert coverage of phantom stock, options, and ratio analysis used for businesses small and large.

Packed with powerful financial and business techniques you absolutely need for success today, Entrepreneurial Finance 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 Entrepreneurs

Entrepreneurial 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 setting up 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 them
  • Financial statements -- How to develop them, how to analyze them
  • Money -- Where and how to find it, techniques for maintaining positive cash flow

This 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 latest research and step-by-step guidelines for what must be done, how to do it, and what to do when things go wrong.

Table of Contents

Preface xi
Acknowledgments xxi
CHAPTER 1 The Entrepreneurial Spectrum 1
Introduction 1
The Entrepreneurial Spectrum 2
Entrepreneurial Finance 10
CHAPTER 2 Financial Statements 13
Introduction 13
The Income Statement 14
The Balance Sheet 24
The Statement of Cash Flows 28
Development of Pro Formas 33
Checklist of Financial Information 35
CHAPTER 3 Financial Statement Analysis 37
Introduction 37
Proactive Analysis 37
Income Statement Analysis 41
Ratio Analysis 41
Breakeven Analysis 50
Measuring Growth 51
Case Study—Clark Company 55
Gross Margins 64
Net Margins 72
Other Issues to Consider 75
CHAPTER 4 Cash Flow Management 79
Introduction 79
Types of Cash Flow 79
Cash Flow Forecasts 82
Cash Flow Management 85
Accounts Receivable 88
Accounts Payable 97
The Cash Gap 99
Working Capital 103
Finding Cash 104
CHAPTER 5 Valuation 107
Introduction 107
Valuing the Clark Company 110
Premoney and Postmoney Valuations 111
Why Value Your Company? 112
Key Factors Influencing Valuation 115
Valuation Methods 132
Valuing Technology andInternet Companies 148
CHAPTER 6 Raising Capital 155
Introduction 155
Value-Added Investors 156
Sources of Capital 157
CHAPTER 7 Debt Financing 161
Introduction 161
Types of Debt 162
Sources of Debt Financing 163
Creative Ways to StructureLong-Term Debt 185
Long-Term Debt Rules to Live By 186
Debt Financing for Working Capital 187
CHAPTER 8 Equity Financing 197
Introduction 197
Sources of Equity Capital 198
Private Placements 203
Corporate Venture Capital 206
Private Equity Firms 208
International Private Equity 216
Advice for Raising Private Equity 216
Small-Business Investment Companies 218
Initial Public Offerings 221
Direct Public Offerings 232
The Financing Spectrum 235
CHAPTER 9 Financing for Minorities and Women 237
Introduction 237
Minorities—Debt Financing 240
Minorities—Equity Financing 242
Women—Debt Financing 244
Women—Equity Financing 246
CHAPTER 10 Taking a Job with an Entrepreneurial Firm 251
Introduction 251
Case Study: Considering a Job Offerfrom an Early-Stage Company 252
Case Study Analysis 261
CHAPTER 11 Intrapreneurship 269
Introduction 269
The Intrapreneurship Spectrum 270
Intrapreneurship Models 272
Traits of the High-Growth Intrapreneur 273
Acts of Intrapreneurship 274
Signs of Intrapreneurial Success 276
Standard Operating Procedures 277
Intrapreneurship Blunder 278
CHAPTER 12 Crowdfunding 279
Introduction 279
Crowdfunding with Pledges 280
Crowdfunding Campaigns 281
Crowdfund Investing Through the JOBS Act 285
Alternative Crowdfund Investing Approaches 288
A Note on Crowdfunding Versus Crowdsourcing 291
Notes 297
Index 311

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