Getting Started in Entrepreneurship

by Kaplan, Jack M.

• ISBN13: 9780471294566
• ISBN10: 047129456X
• Edition: 1st
• Format: Paperback
• Copyright: 2001-02-14
• Publisher: Wiley

Summary

"Jack Kaplan is an entrepreneur's entrepreneur. His book reflects his in-the-trenches experience and provides practical wisdom for anyone launching a company. Read this and get started right!"--Ray Smilor, Vice President, Kauffman Center for Entrepreneurial Leadership "Jack is not only a successful entrepreneur, but also a student and teacher of entrepreneurship. Getting Started in Entrepreneurship is a guidebook of experience and wisdom from the inception of an idea to starting a business. This is an important book about the science of entrepreneurship."--Kevin O' Connor, Chairman, DoubleClick Inc. "If you want to start a business but have no time for an MBA, all you'll need is in this book. It's full of up-to-date, easy-to-understand information that will save you time and money. Don't put it on your shelf. Put it beside your bed for those sleepless nights that are part of the entrepreneurial journey."--Professor Murray Low, Executive Director, Eugene M. Lang Center for Entrepreneurship at Columbia Business School "Jack brings a unique perspective to the world of entrepreneurship; his success in his own business has taught him what needs to be done to build a business; his years as a judge for the Ernst & Young Entrepreneur Of The Year award program have given him a close-up view of how others have succeeded; and his years as a business school professor have taught him how to organize, summarize, and share that knowledge. The road to entrepreneurial success starts here; read this book!"--Ralph A. Subbiondo, Partner, Ernst & Young's Entrepreneurial Services Group

Author Biography

JACK M. KAPLAN is President of Datamark Technologies, Inc., an entrepreneurial firm specializing in stored value, electronic gift certificates, and customer loyalty programs. He is also Adjunct Professor of Entrepreneurial Studies at the Eugene M. Lang Center for Entrepreneurship at Columbia Business School and judge of the Ernst & Young Entrepreneur Of The Year® award program.

Table of Contents

Introduction	1	(1)
Challenging the Role of Entrepreneurs	2	(1)
Features Designed to Aid Learning	3	(2)
Developing Ideas and Business Opportunities	5	(23)
Introduction	5	(1)
Do You Have a Business Idea?	5	(2)
Idea Assessment	7	(4)
Opportunity Analysis: Five Phases to Success	11	(9)
Case Study: New Payment Idea, New Opportunity	20	(1)
What's Protecting You?	21	(1)
Preparing a Cash Flow Forecast	22	(2)
Designing a Cash Flow Worksheet	24	(1)
Summary	25	(1)
Additional Resources	26	(2)
Analyzing the Market, Customers, and Competition	28	(29)
Introduction: How Will You Market Your Vision?	28	(1)
Five Steps to Formulating a Successful Marketing Plan	29	(3)
Preparing the Marketting Analysis and Plan	32	(4)
Five Steps to Successful Database Marketing	36	(1)
Define the Market Position	37	(1)
Know Your Competition and Prepare a Competitive Analysis	38	(3)
Prepare the Pricing and Sales Strategies	41	(1)
Market Penetration---Selling the Product	42	(8)
Sample Marketing Plan---Datamark Technologies, Inc.	50	(3)
Summary	53	(3)
Additional Resources---Database Searches	56	(1)
Starting Home-Based Businesses, Opening Franchises, and Buying Existing Businesses	57	(33)
Introduction: Choosing the Right Business	57	(1)
Home-Based Businesses	58	(5)
Franchises	63	(5)
Buying and Existing Business	68	(3)
The Financial Plan	71	(1)
Prepare an Annual Budget	72	(2)
Projected Cash Activity	74	(1)
Financial Statements	75	(9)
Break-Even Technique	84	(3)
Summary	87	(1)
Additional Resources---Franchise References	88	(2)
Preparing a Winning Business Plan	90	(23)
Introduction	90	(3)
What Is a Business Plan?	93	(1)
Choosing Your Goals and Objectives	93	(1)
Setting Performance Benchmarks	94	(1)
Start the Process: Five Steps	94	(2)
What Kind of Plan Is Best for You?	96	(2)
Writing the Business Plan	98	(9)
How Long Will It Take?	107	(2)
Understanding Why Business Plans Fail	109	(1)
Summary	110	(2)
Additional Resources	112	(1)
Getting the Funding	113	(25)
Introduction to Funding	113	(2)
Funding Sources	115	(12)
Finding Investors	127	(3)
Guide to Selecting a Venture Capitalist	130	(2)
Checklist for Evaluating a Company	132	(3)
Summary	135	(1)
Additional Resources---Venture Capital Guides	136	(2)
Bank Loans and Debt Financing	138	(20)
Introduction	138	(1)
How to Use Commercial Banks	139	(2)
How to Write a Loan Proposal	141	(1)
How to Apply for a Loan	142	(3)
Establishing the Terms of Debt	145	(2)
Build a Relationship with a Banker	147	(1)
Other Sources of Debt Capital	148	(3)
Government Programs	151	(4)
Summary	155	(2)
Additional Resources---Banking References	157	(1)
The IPO Process (Going Public)	158	(37)
Introduction	158	(1)
Evaluating High-Growth Businesses	159	(7)
Deciding Whether to Go Public	166	(2)
Benefits and Opportunities	168	(3)
Drawbacks of a Public Company	171	(2)
The IPO Event	173	(1)
Registration Process	174	(2)
The Road Show	176	(1)
Expenses of Going Public	176	(4)
Preparing a Valuation for Your Company	180	(1)
What Is the Business Worth?	180	(7)
Determine the Investors' Share	187	(2)
Summary	189	(2)
Ernst & Young's Entrepreneur of the Year Awards Program	191	(4)
Launching an Internet Business	195	(23)
Introduction	195	(2)
Is the Internet Right for Your Business?	197	(2)
Advantages to an Internet Business	199	(2)
Why Some Internet Companies Fail	201	(1)
Launching an Internet Site	202	(1)
Finding a Web Page Designer	202	(2)
What Makes a Good Web Page?	204	(2)
Obtaining a Domain Name	206	(1)
Web Hosting	207	(1)
Secure Method for E-Commerce	207	(1)
Four Models of Revenue	208	(2)
Business-to-Business Opportunities	210	(1)
Opportunities for Application Service Providers	210	(1)
Establishing an Internet Presence	211	(4)
Summary	215	(3)
Discovering Value in Intellectual Property: The Competitive Edge	218	(30)
Introduction	218	(2)
Trademarks	220	(5)
Copyrights	225	(2)
Patents	227	(3)
Starting Securely	230	(3)
Documenting Your Ideas	233	(1)
Prior Art	234	(3)
Applying for a Patent	237	(4)
Trade Secrets	241	(3)
Summary	244	(2)
Additional Intellectual Property Resources	246	(2)
Building the Resources and Setting Up the Company	248	(31)
Introduction	248	(2)
Which Form of Ownership Is Best?	250	(1)
Forms of Doing Business	251	(1)
Sole Proprietorship	251	(3)
C Corporation	254	(4)
Subchapter S Corporation	258	(2)
Partnership	260	(4)
Limited Liability Company (LLC)	264	(1)
Business Start-Up Checklist	265	(4)
Setting Up Employer---Employee Agreements	269	(1)
Setting Up Stock Options Agreements	270	(6)
Summary	276	(3)
References	279	(3)
Glossary	282	(3)
Index	285