{"product_id":"entrepreneurship-isbn-9781394262809","title":"Entrepreneurship","description":"\u003cp\u003e\u003cb\u003eGuides aspiring entrepreneurs through the process of starting a new venture in today’s economy\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEntrepreneurship\u003c\/i\u003e is an essential resource for both undergraduate and MBA courses on new venture creation. With a focused “hands-on” learning approach, this leading textbook integrates contemporary cases, practical examples, and foundational theory in a single volume. Student-friendly chapters explain each step of the entrepreneurial process, including idea generation, prototyping, opportunity evaluation, business model development, team building, marketing, financial forecasting, legal and tax considerations, and much more. \u003c\/p\u003e\u003cp\u003eNow in its sixth edition, \u003ci\u003eEntrepreneurship\u003c\/i\u003e is thoroughly updated to reflect today’s business environment. Entirely new material on Artificial Intelligence (AI) and digital marketing is accompanied by new examples and case studies of entrepreneurs facing issues in the real world. Throughout this edition, the authors provide timely insights on engaging with new ventures as investors, bankers, accountants, lawyers, vendors, customers, and employees. \u003c\/p\u003e\u003cp\u003eDelving into the real-world trials and tribulations of entrepreneurs in the US and around the world, \u003ci\u003eEntrepreneurship, Sixth Edition,\u003c\/i\u003e remains the go-to textbook for upper-level undergraduate business, management, and entrepreneurship majors, MBA students, early-career business professionals, and general readers wanting to understand what it takes to create a new venture in the modern business landscape. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eNew to this Edition:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eExpanded reflecting current approaches and recent developments in the sphere of entrepreneurship\u003c\/li\u003e\n\u003cli\u003eNew chapter on digital marketing, including real-world strategies and challenges\u003c\/li\u003e\n\u003cli\u003eNew coverage of the role and impact of AI in starting a new venture, especially around prototyping\u003c\/li\u003e\n\u003cli\u003eUpdated discussion of the entrepreneurial competitiveness of various nations\u003c\/li\u003e\n\u003cli\u003eRevised material on prototyping new ideas and business models\u003c\/li\u003e\n\u003cli\u003eNew end-of-chapter cases, examples, and references\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e\u003cb\u003eWiley Advantage:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eHelps students develop an inclusive perspective on how businesses are born, grow, and succeed or fail\u003c\/li\u003e\n\u003cli\u003eCovers all stages of the entrepreneurial process from pre-startup through harvest, including financing, business planning, and creating realistic financial forecasts\u003c\/li\u003e\n\u003cli\u003ePresents an up-to-date and well-balanced exposition of all concepts and cases\u003c\/li\u003e\n\u003cli\u003eContains actual cases of entrepreneurs facing the issues discussed in each chapter\u003c\/li\u003e\n\u003cli\u003eProvides an “Opportunity Journal” for students to reflect on the lessons and consider how to apply them to their future careers\u003c\/li\u003e\n\u003cli\u003eIncludes sample syllabi, chapter outlines, case lecture notes, an image bank, discussion questions, a test bank, classroom activities, and other teaching resources\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 An Opportunity to Lift All: The Power of Entrepreneurship 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobal Roots and an American Proliferation 3\u003c\/p\u003e \u003cp\u003eAn Evolution of Entrepreneurship and Small Business in the United States 5\u003c\/p\u003e \u003cp\u003eAn Entrepreneurial Evolution Becomes a Revolution 6\u003c\/p\u003e \u003cp\u003eThree Revolutions Converge 10\u003c\/p\u003e \u003cp\u003eEntrepreneurship Revolution Strikes Gold 11\u003c\/p\u003e \u003cp\u003eCauses of the Entrepreneurial Revolution 12\u003c\/p\u003e \u003cp\u003eChanges in the Entrepreneurial Framework Conditions 14\u003c\/p\u003e \u003cp\u003eGlobal Entrepreneurship Monitor 17\u003c\/p\u003e \u003cp\u003ePrincipal Findings from GEM 18\u003c\/p\u003e \u003cp\u003eActivity 19\u003c\/p\u003e \u003cp\u003eGender 21\u003c\/p\u003e \u003cp\u003eAge Distribution of Early-Stage Entrepreneurial Activity 21\u003c\/p\u003e \u003cp\u003eGrowth Expectations and Job Creation 22\u003c\/p\u003e \u003cp\u003eEnvironmental and Social Entrepreneurship 24\u003c\/p\u003e \u003cp\u003eEntrepreneurship and Today’s American Dream 25\u003c\/p\u003e \u003cp\u003eConclusion 26\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 27\u003c\/p\u003e \u003cp\u003eWeb Exercise 27\u003c\/p\u003e \u003cp\u003eNotes 27\u003c\/p\u003e \u003cp\u003eCase: Zoey Koko: Choosing an Alternative 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 The Entrepreneurial Process 39\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCritical Factors for Starting a New Enterprise 40\u003c\/p\u003e \u003cp\u003eEvaluating Opportunities for New Businesses 45\u003c\/p\u003e \u003cp\u003eDetermining Resource Needs and Acquiring Resources 50\u003c\/p\u003e \u003cp\u003eProfit Potential 54\u003c\/p\u003e \u003cp\u003eIngredients for a Successful New Business 55\u003c\/p\u003e \u003cp\u003eConclusion 57\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 57\u003c\/p\u003e \u003cp\u003eWeb Exercise 57\u003c\/p\u003e \u003cp\u003eNotes 57\u003c\/p\u003e \u003cp\u003eCase: Vedavoo 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Opportunity Recognition, Shaping, and Reshaping 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom Glimmer to Action: How Do I Come Up with a Good Idea? 70\u003c\/p\u003e \u003cp\u003eIs Your Idea an Opportunity? 76\u003c\/p\u003e \u003cp\u003eThe Opportunity Checklist 91\u003c\/p\u003e \u003cp\u003e“I Don’t Have an Opportunity” 91\u003c\/p\u003e \u003cp\u003eConclusion 93\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 93\u003c\/p\u003e \u003cp\u003eWeb Exercise 93\u003c\/p\u003e \u003cp\u003eNotes 93\u003c\/p\u003e \u003cp\u003eCase: ISlide, Inc. 95\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Prototyping Your Ideas 102\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Prototyping? 103\u003c\/p\u003e \u003cp\u003eTypes of Prototyping 106\u003c\/p\u003e \u003cp\u003eUsing AI to Accelerate Entrepreneurial Prototyping 111\u003c\/p\u003e \u003cp\u003eHow Is AI Useful for Entrepreneurs? 111\u003c\/p\u003e \u003cp\u003eUsing AI to Help Identify Unmet Needs 112\u003c\/p\u003e \u003cp\u003eUsing AI for Idea Generation 114\u003c\/p\u003e \u003cp\u003eAI for Rapid Prototyping 114\u003c\/p\u003e \u003cp\u003eRisks of Using AI 116\u003c\/p\u003e \u003cp\u003eConclusion 117\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 117\u003c\/p\u003e \u003cp\u003eWeb Exercise 117\u003c\/p\u003e \u003cp\u003eNotes 117\u003c\/p\u003e \u003cp\u003eCase: Design a Better Cable Trainer 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 The Importance of Business Models 126\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 126\u003c\/p\u003e \u003cp\u003eThe Core (Steps 1, 2, and 3) 129\u003c\/p\u003e \u003cp\u003eThe Market (Steps 4, 5, 6, and 7) 131\u003c\/p\u003e \u003cp\u003eCustomer Segments (Step 4) 132\u003c\/p\u003e \u003cp\u003eMarketing Channels (Step 5) 132\u003c\/p\u003e \u003cp\u003eDistribution Channels (Step 6) 133\u003c\/p\u003e \u003cp\u003eRevenue Streams (Step 7) 134\u003c\/p\u003e \u003cp\u003eProduct and Operations (Steps 8, 9, 10, and 11) 135\u003c\/p\u003e \u003cp\u003eResources (Step 8) 135\u003c\/p\u003e \u003cp\u003ePartners (Step 9) 135\u003c\/p\u003e \u003cp\u003eKey Metrics (Step 10) 136\u003c\/p\u003e \u003cp\u003eCost Drivers (Step 11) 136\u003c\/p\u003e \u003cp\u003eThe External Environment and Financial Strategy (Steps 12, 13, and 14) 138\u003c\/p\u003e \u003cp\u003eCompetitive Environment (Step 12) 138\u003c\/p\u003e \u003cp\u003eIndustry Attractiveness (Step 13) 138\u003c\/p\u003e \u003cp\u003eFinancial Strategy (Step 14) 138\u003c\/p\u003e \u003cp\u003eConclusion 139\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 139\u003c\/p\u003e \u003cp\u003eWeb Exercise 139\u003c\/p\u003e \u003cp\u003eNotes 139\u003c\/p\u003e \u003cp\u003eCase: Zumba Fitness 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Entrepreneurial Marketing 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Marketing Is Critical for Entrepreneurs 148\u003c\/p\u003e \u003cp\u003eEntrepreneurs Face Unique Marketing Challenges 148\u003c\/p\u003e \u003cp\u003eAcquiring Market Information 149\u003c\/p\u003e \u003cp\u003eMarketing Strategy for Entrepreneurs 151\u003c\/p\u003e \u003cp\u003eSegmentation, Targeting, and Positioning 151\u003c\/p\u003e \u003cp\u003eThe Marketing Mix 152\u003c\/p\u003e \u003cp\u003eValue Proposition: Articulating the Entrepreneurial Strategy 164\u003c\/p\u003e \u003cp\u003eSocial Media 167\u003c\/p\u003e \u003cp\u003eGuerrilla Marketing 168\u003c\/p\u003e \u003cp\u003eMarketing Skills for Managing Growth 169\u003c\/p\u003e \u003cp\u003eUnderstanding and Listening to the Customer 169\u003c\/p\u003e \u003cp\u003eBuilding the Brand 170\u003c\/p\u003e \u003cp\u003eConclusion 171\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 171\u003c\/p\u003e \u003cp\u003eWeb Exercise 171\u003c\/p\u003e \u003cp\u003eAppendix: Customer Interview 171\u003c\/p\u003e \u003cp\u003eGeneral Outline: It Needs To Be Tailored To Meet Your Research Needs 172\u003c\/p\u003e \u003cp\u003eNotes 172\u003c\/p\u003e \u003cp\u003eCase: Raised Right 174\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Digital Marketing for Entrepreneurs 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 183\u003c\/p\u003e \u003cp\u003ePoem Model 184\u003c\/p\u003e \u003cp\u003eGenerating Awareness and Leads Using Paid Media 185\u003c\/p\u003e \u003cp\u003eMetrics of Digital Advertising 185\u003c\/p\u003e \u003cp\u003ePaid Search Marketing 186\u003c\/p\u003e \u003cp\u003eProgrammatic Advertising 188\u003c\/p\u003e \u003cp\u003eNative Advertising 188\u003c\/p\u003e \u003cp\u003eSponsorships and Affiliate Marketing 189\u003c\/p\u003e \u003cp\u003eConnecting With Your Customers in Owned Media 189\u003c\/p\u003e \u003cp\u003eOwned Media: Websites and Landing Pages 189\u003c\/p\u003e \u003cp\u003eInternal Web pages versus direct landing pages 190\u003c\/p\u003e \u003cp\u003eWebpage Goals 192\u003c\/p\u003e \u003cp\u003eConversion Centered Design Goals 193\u003c\/p\u003e \u003cp\u003eMaking Your Website More Findable: Search Engine Optimization (seo) 193\u003c\/p\u003e \u003cp\u003eOn-Site: Keywords 193\u003c\/p\u003e \u003cp\u003eOther Aspects of On-site SEO 194\u003c\/p\u003e \u003cp\u003eOff Site SEO: Backlinks 194\u003c\/p\u003e \u003cp\u003eOff Site SEO: Creating Useful Content 194\u003c\/p\u003e \u003cp\u003eOwned Media: Social Media 195\u003c\/p\u003e \u003cp\u003eContent Strategy for Organic Posts 196\u003c\/p\u003e \u003cp\u003eTypes of Organic Social Posts 197\u003c\/p\u003e \u003cp\u003eOwned Media: Email 198\u003c\/p\u003e \u003cp\u003eOwned Media: Other Content 199\u003c\/p\u003e \u003cp\u003eEarned Media 199\u003c\/p\u003e \u003cp\u003eSentiment and Marketing Research 199\u003c\/p\u003e \u003cp\u003eInfluencers, Public Relations and Publicity 200\u003c\/p\u003e \u003cp\u003eLeveraging User generated Content (UGC) 200\u003c\/p\u003e \u003cp\u003eThe Buyer’s Journey—Planning and Assessing Your Digital Marketing Content 201\u003c\/p\u003e \u003cp\u003eConclusion 204\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 204\u003c\/p\u003e \u003cp\u003eExercises 204\u003c\/p\u003e \u003cp\u003eNotes 205\u003c\/p\u003e \u003cp\u003eCase: PetPax Co. 206\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Building the Founding Team 213\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePower of the Team 214\u003c\/p\u003e \u003cp\u003eWhere Do You Fit? 216\u003c\/p\u003e \u003cp\u003eHow to Build a Powerful Team 219\u003c\/p\u003e \u003cp\u003eBootstrapping: Building the Team Based on Stage-of-Venture Life 221\u003c\/p\u003e \u003cp\u003eCompensation 223\u003c\/p\u003e \u003cp\u003eEquity 223\u003c\/p\u003e \u003cp\u003eSalary 227\u003c\/p\u003e \u003cp\u003eOther Compensation Considerations 228\u003c\/p\u003e \u003cp\u003eExternal Team Members 228\u003c\/p\u003e \u003cp\u003eOutside Investors 229\u003c\/p\u003e \u003cp\u003eLawyers 229\u003c\/p\u003e \u003cp\u003eAccountants 230\u003c\/p\u003e \u003cp\u003eBoard of Advisors 230\u003c\/p\u003e \u003cp\u003eBoard of Directors 231\u003c\/p\u003e \u003cp\u003eKeeping the Team Together 232\u003c\/p\u003e \u003cp\u003eBurnout 233\u003c\/p\u003e \u003cp\u003eFamily Pressure 233\u003c\/p\u003e \u003cp\u003eInterpersonal Conflicts 234\u003c\/p\u003e \u003cp\u003eConclusion 234\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 234\u003c\/p\u003e \u003cp\u003eWeb Exercise 235\u003c\/p\u003e \u003cp\u003eNotes 235\u003c\/p\u003e \u003cp\u003eCase: Bin, Inc. 236\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 The Business Planning Process 245\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Planning Process 247\u003c\/p\u003e \u003cp\u003eThe Story Model 248\u003c\/p\u003e \u003cp\u003eThe Business Plan 249\u003c\/p\u003e \u003cp\u003eThe Cover 249\u003c\/p\u003e \u003cp\u003eExecutive Summary 249\u003c\/p\u003e \u003cp\u003eTable of Contents 250\u003c\/p\u003e \u003cp\u003eIndustry, Customer, and Competitor Analysis 250\u003c\/p\u003e \u003cp\u003eCompany and Product Description 254\u003c\/p\u003e \u003cp\u003eMarketing Plan 255\u003c\/p\u003e \u003cp\u003eDevelopment Plan 260\u003c\/p\u003e \u003cp\u003eTeam 261\u003c\/p\u003e \u003cp\u003eCritical Risks 263\u003c\/p\u003e \u003cp\u003eOffering 265\u003c\/p\u003e \u003cp\u003eFinancial Plan 265\u003c\/p\u003e \u003cp\u003eAppendices 265\u003c\/p\u003e \u003cp\u003eTypes of Plans 265\u003c\/p\u003e \u003cp\u003eStyle Pointers for the Written Plan and Oral Presentation 266\u003c\/p\u003e \u003cp\u003eConclusion 267\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 268\u003c\/p\u003e \u003cp\u003eWeb Exercise 268\u003c\/p\u003e \u003cp\u003eNotes 268\u003c\/p\u003e \u003cp\u003eCase: ONSUNDAYS: Business Brief 269\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Building Your Pro Forma 282\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial Statements 283\u003c\/p\u003e \u003cp\u003eCommon Mistakes 283\u003c\/p\u003e \u003cp\u003eFinancial Statement Overview 284\u003c\/p\u003e \u003cp\u003eBuilding Your Pro Forma Financial Statements 285\u003c\/p\u003e \u003cp\u003eBuild-Up Method 286\u003c\/p\u003e \u003cp\u003eRevenue Projections 287\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 288\u003c\/p\u003e \u003cp\u003eOperating Expenses 289\u003c\/p\u003e \u003cp\u003ePreliminary Income Statement 290\u003c\/p\u003e \u003cp\u003eComparable Method 291\u003c\/p\u003e \u003cp\u003eBuilding Integrated Financial Statements 293\u003c\/p\u003e \u003cp\u003eIncome Statement 295\u003c\/p\u003e \u003cp\u003eBalance Sheet 297\u003c\/p\u003e \u003cp\u003eCash-Flow Statement 298\u003c\/p\u003e \u003cp\u003ePutting It All Together 299\u003c\/p\u003e \u003cp\u003eConclusion 299\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 300\u003c\/p\u003e \u003cp\u003eWeb Exercise 300\u003c\/p\u003e \u003cp\u003eNotes 300\u003c\/p\u003e \u003cp\u003eCase: ONSUNDAYS: Understanding Your Market and Building Realistic Proformas 301\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Raising Money for Starting and Growing a Business 314\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBootstrapping New Ventures 315\u003c\/p\u003e \u003cp\u003eInformal Investors 316\u003c\/p\u003e \u003cp\u003eBusiness Angels 317\u003c\/p\u003e \u003cp\u003eSearching for Business Angels 318\u003c\/p\u003e \u003cp\u003eTypes of Business Angels 318\u003c\/p\u003e \u003cp\u003ePutting Together a Round of Angel Investment 319\u003c\/p\u003e \u003cp\u003eAmount of Capital Needed to Start a Business 321\u003c\/p\u003e \u003cp\u003eFinancial Returns on Informal Investment 321\u003c\/p\u003e \u003cp\u003eCrowdfunding 322\u003c\/p\u003e \u003cp\u003eVenture Capital 323\u003c\/p\u003e \u003cp\u003eClassic Venture Capital 323\u003c\/p\u003e \u003cp\u003eMechanism of Venture Capital Investing 324\u003c\/p\u003e \u003cp\u003eFinancial Returns on Venture Capital 325\u003c\/p\u003e \u003cp\u003eDealing with Venture Capitalists 326\u003c\/p\u003e \u003cp\u003eNegotiating the Deal 328\u003c\/p\u003e \u003cp\u003eValuation 328\u003c\/p\u003e \u003cp\u003eScorecard Valuation 329\u003c\/p\u003e \u003cp\u003eEarnings Capitalization Valuation 330\u003c\/p\u003e \u003cp\u003ePresent Value of Future Cash Flows 330\u003c\/p\u003e \u003cp\u003eMarket-Comparable Valuation (Multiple of Earnings) 330\u003c\/p\u003e \u003cp\u003eAsset-Based Valuation 331\u003c\/p\u003e \u003cp\u003eExample of Market-Comparable Valuation 331\u003c\/p\u003e \u003cp\u003eAsset-Based Valuation Example 333\u003c\/p\u003e \u003cp\u003eHarvesting Investments 334\u003c\/p\u003e \u003cp\u003eInitial Public Offering 335\u003c\/p\u003e \u003cp\u003ePros and Cons of an IPO 335\u003c\/p\u003e \u003cp\u003eThe Process of Going Public 337\u003c\/p\u003e \u003cp\u003eBFAI Goes Public 338\u003c\/p\u003e \u003cp\u003eSelling the Company 338\u003c\/p\u003e \u003cp\u003eWhy Be Acquired? 339\u003c\/p\u003e \u003cp\u003eConclusion 340\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 340\u003c\/p\u003e \u003cp\u003eWeb Exercise 340\u003c\/p\u003e \u003cp\u003eNotes 341\u003c\/p\u003e \u003cp\u003eCase: Auction Mobility 343\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Debt and Other Forms of Financing 349\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGetting Access to Funds—Start with Internal Sources 350\u003c\/p\u003e \u003cp\u003eStart with Credit Cards and Home Equity Lines 351\u003c\/p\u003e \u003cp\u003eCash Conversion Cycle 352\u003c\/p\u003e \u003cp\u003eWorking Capital: Getting Cash from Receivables and Inventories 352\u003c\/p\u003e \u003cp\u003eUsing Accounts Receivable as Working Capital 353\u003c\/p\u003e \u003cp\u003eThe Sales Pattern 354\u003c\/p\u003e \u003cp\u003eCash versus Credit Sales 354\u003c\/p\u003e \u003cp\u003eCredit Policies 354\u003c\/p\u003e \u003cp\u003eSetting Credit Terms 355\u003c\/p\u003e \u003cp\u003eCollection Policies 356\u003c\/p\u003e \u003cp\u003eSetting Credit Limits for Individual Accounts 357\u003c\/p\u003e \u003cp\u003eInventory 358\u003c\/p\u003e \u003cp\u003eSources of Short-Term Cash: More Payables, Less Receivables 359\u003c\/p\u003e \u003cp\u003eCash from Short-Term Bank Loans 359\u003c\/p\u003e \u003cp\u003eCash from Trade Credit 359\u003c\/p\u003e \u003cp\u003eCash Obtained by Negotiating with Suppliers 360\u003c\/p\u003e \u003cp\u003eCash Available Because of Seasonal Business Credit Terms 360\u003c\/p\u003e \u003cp\u003eAdvantages of Trade Credit 361\u003c\/p\u003e \u003cp\u003eCash Obtained by Tightening Up Accounts Receivable Collections 361\u003c\/p\u003e \u003cp\u003eObtaining Bank Loans Through Accounts Receivable Financing 362\u003c\/p\u003e \u003cp\u003ePledging 362\u003c\/p\u003e \u003cp\u003ePledging with Notification 362\u003c\/p\u003e \u003cp\u003eFactoring 362\u003c\/p\u003e \u003cp\u003eRecourse 362\u003c\/p\u003e \u003cp\u003eObtaining Loans against Inventory 363\u003c\/p\u003e \u003cp\u003eObtaining “Financing” from Customer Prepayments 363\u003c\/p\u003e \u003cp\u003eChoosing the Right Mix of Short-Term Financing 363\u003c\/p\u003e \u003cp\u003eTraditional Bank Lending: Short-Term Bank Loans 364\u003c\/p\u003e \u003cp\u003eMaturity of Loans 365\u003c\/p\u003e \u003cp\u003eInterest Rates 365\u003c\/p\u003e \u003cp\u003eCollateral 366\u003c\/p\u003e \u003cp\u003eApplying for a Bank Loan 366\u003c\/p\u003e \u003cp\u003eRestrictive Covenants 367\u003c\/p\u003e \u003cp\u003eGeneral Provisions 367\u003c\/p\u003e \u003cp\u003eRoutine Provisions 368\u003c\/p\u003e \u003cp\u003eSpecific Provisions 368\u003c\/p\u003e \u003cp\u003eEquipment Financing 369\u003c\/p\u003e \u003cp\u003eObtaining Early Financing from External Sources 369\u003c\/p\u003e \u003cp\u003eSBA-Guaranteed Loans 369\u003c\/p\u003e \u003cp\u003eApplying for an SBA Loan 370\u003c\/p\u003e \u003cp\u003eConclusion 371\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 371\u003c\/p\u003e \u003cp\u003eWeb Exercise 372\u003c\/p\u003e \u003cp\u003eNotes 372\u003c\/p\u003e \u003cp\u003eCase: FEED Resource Recovery 373\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Legal and Tax Issues, Including Intellectual Property 384\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy, When, and How to Choose an Attorney 385\u003c\/p\u003e \u003cp\u003eLeaving Your Present Position 385\u003c\/p\u003e \u003cp\u003eCorporate Opportunity 385\u003c\/p\u003e \u003cp\u003eRecruitment of Fellow Employees 386\u003c\/p\u003e \u003cp\u003eNoncompetition 386\u003c\/p\u003e \u003cp\u003eIntellectual Property 387\u003c\/p\u003e \u003cp\u003eThe Basics: What Is Protectable and How Should It Be Protected? 388\u003c\/p\u003e \u003cp\u003ePatents 388\u003c\/p\u003e \u003cp\u003eTrade Secrets 393\u003c\/p\u003e \u003cp\u003eTrademarks 395\u003c\/p\u003e \u003cp\u003eCopyright 397\u003c\/p\u003e \u003cp\u003eInternational Protection for Intellectual Property 399\u003c\/p\u003e \u003cp\u003eChoice of Legal Form 400\u003c\/p\u003e \u003cp\u003eControl 401\u003c\/p\u003e \u003cp\u003ePersonal Liability 402\u003c\/p\u003e \u003cp\u003eTaxation 402\u003c\/p\u003e \u003cp\u003eInitial Investment of the Founders 404\u003c\/p\u003e \u003cp\u003eChoosing a Name 405\u003c\/p\u003e \u003cp\u003eNegotiating Employment Terms 405\u003c\/p\u003e \u003cp\u003eDisposition of Equity Interests 405\u003c\/p\u003e \u003cp\u003eLegal and Tax Issues in Hiring Employees 408\u003c\/p\u003e \u003cp\u003eEmployees as Agents of the Company 408\u003c\/p\u003e \u003cp\u003eEmployment Discrimination 409\u003c\/p\u003e \u003cp\u003eEmployment Agreements 409\u003c\/p\u003e \u003cp\u003eRaising Money 409\u003c\/p\u003e \u003cp\u003eConclusion 410\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 411\u003c\/p\u003e \u003cp\u003eWeb Exercise 411\u003c\/p\u003e \u003cp\u003eNotes 411\u003c\/p\u003e \u003cp\u003eCase: Wefunder: Leading the Growth of a New Industry 412\u003c\/p\u003e \u003cp\u003eAppendix A: A Sample Wefunder Offerings 418\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Entrepreneurial Growth 420\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaking the Transition from Start-up to Growth 421\u003c\/p\u003e \u003cp\u003eLooking Forward: The Choice to Grow, or Not, or Sell 421\u003c\/p\u003e \u003cp\u003eA Model of Driving Forces of Growth 423\u003c\/p\u003e \u003cp\u003eThe Growth Process 424\u003c\/p\u003e \u003cp\u003eExecution 425\u003c\/p\u003e \u003cp\u003eInstituting Controls 426\u003c\/p\u003e \u003cp\u003eTracking Performance 427\u003c\/p\u003e \u003cp\u003eManaging the Cash Cycle 429\u003c\/p\u003e \u003cp\u003eLeveraging the Value Chain 431\u003c\/p\u003e \u003cp\u003eMaintaining the Entrepreneurial Organization 432\u003c\/p\u003e \u003cp\u003eOpportunity Domain 432\u003c\/p\u003e \u003cp\u003eOrganizational Resources and Capabilities 435\u003c\/p\u003e \u003cp\u003eObtaining Financial Resources for the Growing Company 435\u003c\/p\u003e \u003cp\u003eIntangible Resources and Capabilities 436\u003c\/p\u003e \u003cp\u003eLeadership 438\u003c\/p\u003e \u003cp\u003eStarting the Delegation Process 438\u003c\/p\u003e \u003cp\u003eFirst-Level Management 440\u003c\/p\u003e \u003cp\u003eFrom Delegation to Decentralization 440\u003c\/p\u003e \u003cp\u003eProfessional Management and Boards 440\u003c\/p\u003e \u003cp\u003eCoordinating the Driving Forces 441\u003c\/p\u003e \u003cp\u003eLeading People; Developing Entrepreneurs 441\u003c\/p\u003e \u003cp\u003eConclusion 442\u003c\/p\u003e \u003cp\u003eYour Opportunity Journal 443\u003c\/p\u003e \u003cp\u003eWeb Exercise 443\u003c\/p\u003e \u003cp\u003eNotes 443\u003c\/p\u003e \u003cp\u003eCase: Connecting Students with Therapists Immediately 445\u003c\/p\u003e \u003cp\u003eAppendix: Competitors 451\u003c\/p\u003e \u003cp\u003eGlossary G- 1\u003c\/p\u003e \u003cp\u003eIndex I- 1\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eAndrew Zacharakis\u003c\/b\u003e is John H. Muller, Jr. Chair in Entrepreneurship at Babson College. He is the Director of the Babson College Entrepreneurship Research Conference and past president of the Entrepreneurship Division of the Academy of Management. His writings and research focus on two major areas of entrepreneurship, the venture capital decision-making process and entrepreneurial growth strategies. Professor Zacharakis has been featured in \u003ci\u003eThe Wall Street Journal\u003c\/i\u003e, \u003ci\u003eThe Boston Globe\u003c\/i\u003e, the Bloomberg Small Business Report, and NPR Morning Edition. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAndrew C. Corbett\u003c\/b\u003e is Paul T. Babson Distinguished Professor of Entrepreneurial Studies and Faculty Director for the Butler Institute for Free Enterprise through Entrepreneurship at Babson College. His research examines behavioural aspects of the venturing process, corporate entrepreneurship and growth. Professor Corbett is also a Visiting Professor of Entrepreneurship at Nord University Business School in Bodo, Norway, and serves as a Director of the Board for the United States Association of Small Business and Entrepreneurship (USASBE). \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWilliam D. Bygrave\u003c\/b\u003e is Emeritus Professor of Entrepreneurship at Babson College, where he served as Director of The Center for Entrepreneurial Studies from 1993 to 1999. Bygrave founded a venture capital-backed high-tech startup, managed a division of a NYSE-listed company, co-founded a pharmaceutical database company, and sat on the investment committee of a venture capital firm. He has published more than 50 papers on venture capital, entrepreneurship, nuclear physics, hospital pharmaceuticals, and philosophy of science.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eGuides aspiring entrepreneurs through the process of starting a new venture in today’s economy\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEntrepreneurship\u003c\/i\u003e is an essential resource for both undergraduate and MBA courses on new venture creation. With a focused “hands-on” learning approach, this leading textbook integrates contemporary cases, practical examples, and foundational theory in a single volume. Student-friendly chapters explain each step of the entrepreneurial process, including idea generation, prototyping, opportunity evaluation, business model development, team building, marketing, financial forecasting, legal and tax considerations, and much more. \u003c\/p\u003e\u003cp\u003eNow in its sixth edition, \u003ci\u003eEntrepreneurship\u003c\/i\u003e is thoroughly updated to reflect today’s business environment. Entirely new material on Artificial Intelligence (AI) and digital marketing is accompanied by new examples and case studies of entrepreneurs facing issues in the real world. Throughout this edition, the authors provide timely insights on engaging with new ventures as investors, bankers, accountants, lawyers, vendors, customers, and employees. \u003c\/p\u003e\u003cp\u003eDelving into the real-world trials and tribulations of entrepreneurs in the US and around the world, \u003ci\u003eEntrepreneurship, Sixth Edition,\u003c\/i\u003e remains the go-to textbook for upper-level undergraduate business, management, and entrepreneurship majors, MBA students, early-career business professionals, and general readers wanting to understand what it takes to create a new venture in the modern business landscape. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eNew to this Edition:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eExpanded reflecting current approaches and recent developments in the sphere of entrepreneurship\u003c\/li\u003e\n\u003cli\u003eNew chapter on digital marketing, including real-world strategies and challenges\u003c\/li\u003e\n\u003cli\u003eNew coverage of the role and impact of AI in starting a new venture, especially around prototyping\u003c\/li\u003e\n\u003cli\u003eUpdated discussion of the entrepreneurial competitiveness of various nations\u003c\/li\u003e\n\u003cli\u003eRevised material on prototyping new ideas and business models\u003c\/li\u003e\n\u003cli\u003eNew end-of-chapter cases, examples, and references\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e\u003cb\u003eWiley Advantage:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eHelps students develop an inclusive perspective on how businesses are born, grow, and succeed or fail\u003c\/li\u003e\n\u003cli\u003eCovers all stages of the entrepreneurial process from pre-startup through harvest, including financing, business planning, and creating realistic financial forecasts\u003c\/li\u003e\n\u003cli\u003ePresents an up-to-date and well-balanced exposition of all concepts and cases\u003c\/li\u003e\n\u003cli\u003eContains actual cases of entrepreneurs facing the issues discussed in each chapter\u003c\/li\u003e\n\u003cli\u003eProvides an “Opportunity Journal” for students to reflect on the lessons and consider how to apply them to their future careers\u003c\/li\u003e\n\u003cli\u003eIncludes sample syllabi, chapter outlines, case lecture notes, an image bank, discussion questions, a test bank, classroom activities, and other teaching resources\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989143044325,"sku":"NP9781394262809","price":70.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394262809.jpg?v=1761782971","url":"https:\/\/k12savings.com\/es\/products\/entrepreneurship-isbn-9781394262809","provider":"K12savings","version":"1.0","type":"link"}