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Written by award-winning experts, Steve Mariotti and Caroline Glackin, Entrepreneurship and Small Business Management presents complex economic, financial and business concepts in a manner easily understood by a variety of students.

Based on a proven curriculum from the Network for Teaching Entrepreneurship (NFTE), it is organized to follow the life-cycle of an entrepreneurial venture–from concept through implementation to harvesting or replication. Filled with examples from a broad range of industries, it moves further into the entrepreneurial process–discussing the business plan and also the unique aspects of managing and growing entrepreneurial ventures and small businesses.

This program will provide a better teaching and learning experience―for you and your students. Here’s how:

  • Help Students Apply Knowledge from the Text to the Real World: Cases give students the opportunity to solve real-world challenges.
  • Present Special Insights on Presenting and Writing a Business Plan: Go beyond formulating a business plan to include critical topics of management, marketing and operations.
  • Guide Student’s Learning: A proven curriculum builds on the expertise of the authors and the Network for Teaching Entrepreneurship (NFTE) to teach the nuts and bolts of how to start and operate an entrepreneurial small business.

 

Table of Content:

  1. UNIT 1 Entrepreneurial Pathways
  2. Chapter 1 Entrepreneurs Recognize Opportunities
  3. Learning Objectives
  4. Entrepreneurship Defined
  5. What Is an Entrepreneur?
  6. The Economic Questions
  7. Voluntary Exchange
  8. Benefits and Challenges of Free Enterprise
  9. What Is a Small Business?
  10. Why Become an Entrepreneur?
  11. The Desire to Make Money Is Not the Only Reason to Start a Business
  12. Definitions of Success—Monetary and Other
  13. Taking the Long View
  14. Benefits and Costs of Becoming an Entrepreneur
  15. Cost/Benefit Analysis
  16. Opportunity Cost
  17. Seeking Advice and Information to Succeed
  18. Entrepreneurial Options
  19. How Do Entrepreneurs Find Opportunities to Start New Businesses?
  20. Entrepreneurs Creatively Exploit Changes in Our World
  21. Where Others See Problems, Entrepreneurs Recognize Opportunities
  22. Train Your Mind to Recognize Business Opportunities
  23. Entrepreneurs Use Their Imaginations
  24. An Idea Is Not Necessarily an Opportunity
  25. Opportunity Is Situational
  26. The Five Roots of Opportunity in the Marketplace
  27. Integrating Internal and External Opportunities
  28. Establishing Strategies
  29. Paths to Small Business Ownership
  30. Securing Franchise Rights
  31. Buying an Existing Business
  32. Licensing Technology
  33. Do Not Take Unfair Advantage of Someone Else’s Creativity
  34. The Many Faces of Entrepreneurship
  35. Gazelles
  36. Microenterprises
  37. Mainstream Small Firms
  38. Making the Business Work Personally and Professionally
  39. A Business Must Make a Profit to Stay in Business
  40. Profit Is the Sign That the Entrepreneur Is Adding Value
  41. Profit Results from the Entrepreneur’s Choices
  42. Seven Rules for Building a Successful Business
  43. The Team Approach
  44. Chapter Summary
  45. Key Terms
  46. Entrepreneurship Portfolio
  47. Critical Thinking Exercises
  48. Key Concepts Questions
  49. Application Exercises
  50. Exploring Your Community
  51. Exploring Online
  52. Case Study Urban Decay: Finding an Entrepreneurial Opportunity
  53. Case Study Analysis
  54. Case Sources
  55. Case Study Foursquare
  56. The Founders
  57. Creating at the Kitchen Table
  58. The App
  59. Financing
  60. Cofounder Perspective
  61. Case Study Analysis
  62. Case Sources
  63. Chapter 2 Franchising
  64. Learning Objectives
  65. Defining Franchising
  66. What Are the Types of Franchises?
  67. Facts to Know Before Investing in a Franchise
  68. Positive Aspects of Franchises
  69. Start-Up Assistance
  70. Instant Recognition
  71. Purchasing Power
  72. Advertising and Promotional Support
  73. Operating Guidelines and Assistance
  74. Record of Success
  75. Drawbacks of Buying a Franchise
  76. Constraints on Creativity and Freedom
  77. Costs
  78. Standards and Termination
  79. The Structure of the Franchise Industry
  80. Franchising and the Law
  81. Steps for Franchise Selection
  82. Exploring Global Franchising Opportunities
  83. Chapter Summary
  84. Key Terms
  85. Entrepreneurship Portfolio
  86. Critical Thinking Exercises
  87. Key Concept Questions
  88. Application Exercise
  89. Exploring Online
  90. Case Study SarahCare of Snellville—A Franchise Opportunity in Adult Day Care
  91. Case Study Analysis
  92. Case Sources
  93. Case Study Pietsch Siblings: Wahoo’s Fish Taco® Franchisees
  94. How Wahoo’s Began
  95. Wahoo’s Comes to Hawaii
  96. Learning Valuable Lessons
  97. Marketing the Business
  98. Wahoo’s Franchise Information
  99. Case Study Analysis
  100. Case Sources
  101. Chapter 3 Finding Opportunity in an Existing Business
  102. Learning Objectives
  103. Reasons to Buy an Existing Business
  104. Quicker, Easier Start-Up
  105. Reduced Risk
  106. Bargain Potential
  107. Your Knowledge Can Be Beneficial
  108. Potential Pitfalls of Buying an Existing Business
  109. Investment Requirements
  110. Buying Someone Else’s Problems
  111. Business Is Not a Good Fit
  112. Finding and Evaluating Available Businesses
  113. Sources of Existing Businesses
  114. Due Diligence—Reality versus the Story
  115. Determining the Value of a Business
  116. Negotiating and Closing a Purchase
  117. Buying into a Business over Time
  118. Family Business as an Entrepreneurial Opportunity
  119. Chapter Summary
  120. Key Terms
  121. Entrepreneurship Portfolio
  122. Critical Thinking Exercises
  123. Key Concept Questions
  124. Application Exercise
  125. Exploring Online
  126. Case Study A Family Affair
  127. Case Study Analysis
  128. Case Source
  129. Case Study Krispy Kreme Doughnuts®
  130. Prospects and Risks in Buying a Business
  131. Building on a Secret Formula
  132. Continued Growth and Success
  133. The Wrong Fit
  134. Getting Back on Track
  135. Going Public: Transferring Ownership Again
  136. Earning a Place in History
  137. Case Study Analysis
  138. Case Sources
  139. Chapter 4 The Business Plan: Road Map to Success
  140. Learning Objectives
  141. Feasibility Analysis: Does My Idea Work?
  142. Analyzing Product and/or Service Feasibility
  143. Analyzing Market and Industry Feasibility
  144. Existing Competitive Rivalry
  145. Barriers to Entry
  146. Threat of Substitutes
  147. Supplier Power
  148. Buyer Power
  149. Analyzing Financial Feasibility
  150. Creating a Business Model Canvas
  151. What Is a Business Plan?
  152. Why Do You Need a Business Plan?
  153. Writing a Business Plan Early Will Save You Time and Money
  154. Your Business Plan Is the Key to Raising Capital
  155. The Business Plan Is an Operations Guide
  156. Business Plan Components
  157. Cover Page and Table of Contents
  158. Executive Summary: A Snapshot of Your Business
  159. Mission, Vision and Culture
  160. Company Description—Background and Track Record
  161. Opportunity Analysis and Research: Testing Ideas
  162. Marketing Strategy and Plan: Reaching Customers
  163. Management and Operations: Making the Plan Happen
  164. Financial Analysis and Projections: Translating Action into Money
  165. Funding Request and Exit Strategy: The Ask and the Return
  166. Appendices: Making the Case in Greater Detail
  167. Business Plan Suggestions
  168. Presenting Your Business Plan
  169. Business Plan and Venture Competitions
  170. Chapter Summary
  171. Key Terms
  172. Entrepreneurship Portfolio
  173. Critical Thinking Exercises
  174. Key Concept Questions
  175. Application Exercises
  176. Exploring Online
  177. In Your Opinion
  178. Mission Statement
  179. Executive Summary
  180. Company Story
  181. The Product
  182. Production and Manufacturing
  183. Market Opportunity
  184. Beyond Snapple–The Emerging Market for Quality Bottled Tea
  185. Profile of Target Customer
  186. Market Research
  187. Market Response
  188. Marketing & Distribution
  189. National natural/specialty foods channels
  190. Higher end food service
  191. Promotion
  192. Packaging and Pricing
  193. International Markets
  194. Product Development and Future Products
  195. Management
  196. Statement and Aspirations for Social Responsibility
  197. Financial Statements–Year-to-Date and Projections
  198. Exhibit E Honest Tea Income Statement 1998
  199. Exhibit F Honest Tea Income Statement Projections 1999
  200. The Investment Opportunity4
  201. The Offering
  202. Financing History
  203. Exit Strategies
  204. Investment Risks
  205. Competitive Advantage
  206. A Parting Thought
  207. UNIT 1 Entrepreneurial Pathways
  208. SPANX—Idea to Entrepreneurial Opportunity
  209. Seeing Opportunity in a Problem
  210. The Woman Behind the Brand
  211. Resources
  212. Team
  213. Spanx Expands into Shape Wear, Swimwear, and Hosiery
  214. Turning Profits into Philanthropy
  215. Case Study Analysis
  216. Case Sources
  217. UNIT 2 Who are Your Customers?
  218. Chapter 5 Creating Business from Opportunity
  219. Learning Objectives
  220. Apple and the Personal Computer
  221. Business Definition
  222. What Sort of Organization Do You Want?
  223. Your Company’s Core Values
  224. Your Company’s Mission Is to Satisfy Customers
  225. Your Company’s Vision Is the Broader Perspective
  226. Your Company’s Culture Defines the Work Environment
  227. The Decision Process
  228. Your Competitive Advantage
  229. Find Your Competitive Advantage by Determining What Consumers Need and Want
  230. You Have Unique Knowledge of Your Market
  231. The Six Factors of Competitive Advantage
  232. Is Your Competitive Advantage Strong Enough?
  233. Checking Out the Competition
  234. The Most Chocolate Cake Company
  235. Competitive Strategy: Business Definition and Competitive Advantage
  236. Strategy versus Tactics
  237. Feasibility Revisited: The Economics of One Unit as a Litmus Test
  238. Defining the Unit of Sale
  239. Cost of Goods Sold and Gross Profit
  240. Your Business and the Economics of One Unit
  241. The Cost of Direct Labor in the EOU—An Example
  242. Hiring Others to Make the Unit of Sale
  243. Going for Volume
  244. Chapter Summary
  245. Key Terms
  246. Entrepreneurship Portfolio
  247. Critical Thinking Exercises
  248. Key Concept Questions
  249. Application Exercises
  250. Exploring Online
  251. BizBuilder Business Plan Questions
  252. 1.0 Executive Summary
  253. 2.0 Mission, Vision, and Culture
  254. Case Study Happy Belly Curbside Kitchen—Finding Opportunity in Healthy Food
  255. Case Study Analysis
  256. Case Sources
  257. Case Study Translating Talent in Three Businesses
  258. Sol y Canto
  259. MusicAmador
  260. Amador Bilingual Voice-Overs
  261. Organization and Culture
  262. Case Study Analysis
  263. Case Sources
  264. Chapter 6 Exploring your Market
  265. Learning Objectives
  266. Markets and Marketing Defined
  267. A Business That Markets versus a Market-Driven Business
  268. Market and Marketing Research Support Success
  269. Research Your Market Before You Open Your Business
  270. Types and Methods of Research
  271. Getting Information Directly from the Source: Primary Research
  272. Getting Information Indirectly: Secondary Research
  273. Market Research Helps You Know Your Customer
  274. Customer Research
  275. Industry Research: The 50,000-Foot Perspective
  276. Make Market Research an Integral Part of Your Business
  277. How Customers Decide to Buy
  278. Owning a Perception in the Customer’s Mind
  279. Features Create Benefits
  280. Home Depot: Teaching Customers So They Will Return
  281. Which Segment of the Market Will You Target?
  282. Successful Segmenting: The Body Shop
  283. Applying Market Segmentation Methods
  284. The Product Life Cycle
  285. Is Your Market Saturated?
  286. Market Positioning: Drive Home Your Competitive Advantage
  287. Developing a Marketing Plan
  288. Chapter Summary
  289. Key Terms
  290. Entrepreneurship Portfolio
  291. Critical Thinking Exercises
  292. Key Concept Questions
  293. Application Exercises
  294. Exploring Online
  295. BizBuilder Business Plan Questions
  296. 4.0 Opportunity Analysis and Research
  297. 4.1 Industry Analysis
  298. 4.2 Environmental Analysis
  299. 4.3 Competitive Analysis
  300. Case Study American Electrical: Understanding the Market Sparks a New Venture
  301. Case Study Analysis
  302. Case Study Russell Simmons, Hip-Hop Entrepreneur
  303. Window of Opportunity
  304. Marketing Insight: Authenticity Matters
  305. Simmons’s Empire Grows
  306. Case Study Analysis
  307. Case Sources
  308. UNIT 2 Opportunity Assessment
  309. Kitchen Arts & Letters, Inc.—An Independent Bookstore Defies Industry Odds
  310. Not Just a Cookbook Store
  311. Serving up Customer Satisfaction
  312. Not Every Book Is for Sale
  313. A Market Divided
  314. Bookstore Industry Background
  315. Case Study Analysis
  316. UNIT 3 Integrated Marketing
  317. Chapter 7 Developing the Right Marketing Mix and Plan
  318. Learning Objectives
  319. The Four Marketing Factors
  320. Product: What Are You Selling?
  321. Create Your Total Product or Service Concept
  322. Focus Your Brand
  323. Ford’s Costly Failure: The Edsel
  324. Ford’s Focus on Success: The Mustang
  325. How to Build Your Brand
  326. Price: What It Says about Your Product
  327. Place: Location, Location, Location!
  328. Promotion: Advertising ∙ Publicity
  329. The Fifth P: Philanthropy
  330. Cause-Related Marketing
  331. Gaining Goodwill
  332. Not-for-Profit Organizations
  333. Teach for America and Upromise
  334. What Entrepreneurs Have Built
  335. You Have Something to Contribute
  336. Developing a Marketing Plan
  337. Marketing Analysis
  338. Marketing as a Fixed Cost
  339. Calculate Your Breakeven Point
  340. Breakeven Analysis for an Artist
  341. Breakeven Analysis of a Restaurant
  342. Chapter Summary
  343. Key Terms
  344. Entrepreneurship Portfolio
  345. Critical Thinking Exercises
  346. Key Concept Questions
  347. Application Exercise
  348. Exploring Online
  349. BizBuilder Business Plan Questions
  350. 5.0 Marketing Strategy and Plan
  351. 5.1 Products/Services
  352. 5.2 Pricing
  353. 5.3 Promotion
  354. 5.4 Place
  355. Case Study 23andMe
  356. Case Study Analysis
  357. Case Sources
  358. Case Study Malia Mills: Love Thy Differences
  359. The Polaroid Project
  360. Place Matters: Setting the Right Tone
  361. The Price/Production Connection
  362. Smart Selling Requires Trial and Error
  363. Promotions: Getting the Word Out
  364. Case Study Analysis
  365. Case Sources
  366. Chapter 8 Pricing and Credit Strategies
  367. Learning Objectives
  368. Pricing: Image, Value, and Competition Together
  369. Strategies and Tactics for Effective Pricing
  370. Value Pricing Strategy
  371. Prestige Pricing Strategy
  372. Cost-Plus Pricing Strategy
  373. Penetration Pricing Strategy
  374. Skimming Price Strategy
  375. Meet-or-Beat-the-Competition Pricing Strategy
  376. Follow-the-Leader Pricing Strategy
  377. Personalized Pricing Strategy
  378. Variable Pricing Strategy
  379. Price Lining Strategy
  380. Pricing Varies by the Type of Firm
  381. Pricing Techniques for Manufacturers
  382. Pricing Techniques for Wholesalers
  383. Pricing Techniques for Retailers
  384. Keystoning—The Retailer’s Rule of Thumb
  385. Pricing Techniques for Service Businesses
  386. Pricing Principles
  387. Extending Credit to Customers
  388. The Costs and Benefits of Credit
  389. Types of Credit
  390. Credit Cards
  391. Installment Credit
  392. Trade Credit
  393. Credit’s Impact on Pricing
  394. Managing the Credit Process
  395. Sources of Credit Information
  396. Aging of Receivables
  397. Credit Regulation
  398. Discounts, Incentives, and Other Price Adjustments
  399. Chapter Summary
  400. Key Terms
  401. Entrepreneurship Portfolio
  402. Critical Thinking Exercises
  403. Key Concept Questions
  404. Application Exercises
  405. Exploring Online
  406. BizBuilder Business Plan Questions
  407. Case Study Credit Policies—Harold Import Company
  408. Case Study Analysis
  409. Case Source
  410. Case Study Texas Jet—Premium Pricing for Premium Service8
  411. Lead with Service and Turn Time into an Asset
  412. Price it High
  413. Case Study Analysis
  414. Chapter 9 Integrated Marketing Communications
  415. Learning Objectives
  416. Use Integrated Marketing Communications for Success
  417. Reinforce the Company’s Unique Selling Proposition
  418. Promotional Planning
  419. Create a Promotional Strategy Using Promotions Opportunity Analysis
  420. Determine a Promotional Budget
  421. Percentage of Sales
  422. Competitive Spending
  423. Excess Funds
  424. Objective and Task
  425. The Advertising Advantage
  426. Advertising Agencies and Freelancers
  427. Types of Advertising
  428. Media Planning and Buying: Focus on Your Customer
  429. The Media
  430. Broadcast Media
  431. Print Media
  432. Outdoor Advertising (Out-of-Home Advertising)
  433. Advertising Measurement: Beyond Reach and Frequency
  434. Marketing Materials Should Reinforce Your Competitive Advantage
  435. Collateral Materials: Print and Multimedia
  436. Sales-Promotion Solutions
  437. When to Use Promotional Tools
  438. Advertising Specialties
  439. Trade Show Exhibits
  440. Mall Carts or Kiosks
  441. Alternative Marketing
  442. Other Media Venues
  443. Database and Direct-Response Marketing
  444. Data Collection, Coding, and Mining
  445. Marketing Communications Driven by Databases
  446. E-mail Marketing
  447. Direct Mail
  448. Catalogs
  449. Coupons
  450. Infomercials and Direct-Response Commercials
  451. Telemarketing
  452. E-Active Marketing
  453. Publicity Potential
  454. Generating Publicity
  455. Telling the Story
  456. Sample Press Release
  457. Follow Up a Press Release
  458. Public Relations
  459. Special Events
  460. Sponsorships
  461. Networking
  462. Public Speaking
  463. Chapter Summary
  464. Key Terms
  465. Entrepreneurship Portfolio
  466. Critical Thinking Exercises
  467. Key Concept Questions
  468. Application Exercises
  469. Exploring Your Community
  470. Exploring Online
  471. BizBuilder Business Plan Questions
  472. 5.0 Marketing Strategy and Plan
  473. 5.3 Promotion
  474. Case Study Dr. Farrah Gray: Young Millionaire, Entrepreneur, and Philanthropist
  475. Case Study Analysis
  476. Case Source
  477. Case Study eHarmony
  478. Turn a Small Idea into a Big One
  479. Charge More and Demand More Than Your Competition
  480. Find an Advertising Strategy
  481. Case Study Analysis
  482. Chapter 10 Marketing Globally
  483. Learning Objectives
  484. Reasons to Market Globally
  485. Market Expansion
  486. Access to Resources
  487. Cost Reduction
  488. Location-Specific Advantages
  489. Improving Quality Levels
  490. Strategy Options for Global Ventures
  491. Importing
  492. Exporting
  493. Cymbals Heard Globally
  494. Strategic Alliances
  495. International Licensing
  496. International Franchising
  497. International Facilities
  498. Challenges to International Trade
  499. Economic Risk
  500. Political Risk
  501. Organizational Capacity
  502. Legal and Regulatory Barriers
  503. Tariffs
  504. Quotas
  505. Embargoes
  506. Dumping
  507. Cultural and Ethnic Considerations
  508. Support for Global Ventures
  509. Market Research, Analysis, Planning, and Readiness
  510. Customer and Partner Identification and Relationship Building
  511. Financing
  512. Letters of Credit
  513. Working Capital Loan Program (EWCP)
  514. Export Express Loan Program
  515. International Trade Loans
  516. Ex-Im Bank’s Export Working Capital Guarantee Program
  517. Export Medium-Term Delegated Authority Program
  518. Ex-Im Bank’s Loan Guarantee
  519. Trade Agreements Influence Global Marketing
  520. Chapter Summary
  521. Key Terms
  522. Entrepreneurship Portfolio
  523. Critical Thinking Exercises
  524. Key Concept Questions
  525. Application Exercise
  526. Exploring Online
  527. BizBuilder Business Plan Questions
  528. 3.0 Company Description
  529. 4.0 Opportunity Analysis and Research
  530. 4.2 Environmental Analysis
  531. 5.0 Marketing Strategy and Plan
  532. 5.4 Place
  533. Case Study Luggage Concierge
  534. Case Study Analysis
  535. Case Sources
  536. Case Study Lourdes “Chingling” Tanco, MIDA Trade Ventures, Inc.
  537. A Global Seafood Legacy
  538. In the Beginning
  539. Keys to Global Success
  540. Case Study Analysis
  541. Case Sources
  542. Chapter 11 Smart Selling and Effective Customer Service
  543. Learning Objectives
  544. Selling Skills Are Essential to Business Success
  545. Selling Is a Great Source of Market Research
  546. The Essence of Selling Is Teaching
  547. The Principles of Selling
  548. Make a Good Personal Impression
  549. Know Your Product or Service
  550. Believe in Your Product or Service
  551. Know Your Field
  552. Know Your Customers
  553. Prepare Your Sales Presentation
  554. Think Positively
  555. Keep Good Records
  556. Make No Truly “Cold Calls”
  557. Make an Appointment
  558. Treat Everyone You Sell to Like Gold
  559. The Sales Call
  560. Electronic Mail, Blogs, and Social Networks
  561. Prequalify Your Sales Calls
  562. Focus on the Customer
  563. The Eight-Step Sales Call
  564. Three Call Behaviors of Successful Salespeople
  565. Analyze Your Sales Calls to Become a Star Salesperson
  566. Turning Objections into Advantages
  567. Use Technology to Sell
  568. Successful Businesses Need Customers Who Return
  569. Customer Service Is Keeping Customers Happy
  570. The Costs of Losing a Customer
  571. Customer Complaints Are Valuable
  572. Customer Relationship Management Systems
  573. Why Does CRM Matter?
  574. Components of CRM for the Small Business
  575. How Technology Supports CRM
  576. Chapter Summary
  577. Key Terms
  578. Entrepreneurship Portfolio
  579. Critical Thinking Exercises
  580. Key Concept Questions
  581. Application Exercises
  582. Exploring Your Community
  583. BizBuilder Business Plan Questions
  584. 5.0 Marketing Strategy and Plan
  585. 5.1 Products/Services
  586. 5.3 Promotion
  587. Case Study BNI—Building Businesses through Networking
  588. Case Study Analysis
  589. Case Sources
  590. Case Study Amazing Customer Service Propels Amazon
  591. A Culture of Service
  592. Swimming Against the Current
  593. Using Technology to Sell
  594. Actively Seeking Customer Feedback
  595. The Total Customer Experience
  596. Case Study Analysis
  597. Case Sources
  598. UNIT 3 Integrated Marketing
  599. Empact: Making an Impact for EntrepreneUrs
  600. Making a Strategic Pivot
  601. Marketing for the Tour
  602. Empact Showcases: Building Recognition, Market, and a Supply of Speakers
  603. Empact Summits
  604. Guest Author: Building Credibility and Broadening Reach
  605. Social Media
  606. Recognition
  607. Case Study Analysis
  608. Case Sources
  609. UNIT 4 Show Me the Money: Finding, Securing, and Managing It
  610. Chapter 12 Understanding and Managing Start-Up, Fixed, and Variable Costs
  611. Learning Objectives
  612. What Does It Cost to Operate a Business?
  613. Start-Up Investment
  614. Brainstorm to Avoid Start-Up Surprises
  615. Keep a Reserve Equal to One-Half the Start-Up Investment
  616. Predict the Payback Period
  617. Estimate Value
  618. Fixed and Variable Costs: Essential Building Blocks
  619. Calculating Critical Costs
  620. Calculating Total Gross Profit (Contribution Margin)
  621. Calculating EOU When You Sell Multiple Products
  622. Fixed Operating Costs
  623. Fixed Operating Costs Can Change Over Time
  624. Allocate Fixed Operating Costs Where Possible
  625. The Dangers of Fixed Costs
  626. Using Accounting Records to Track Fixed and Variable Costs
  627. Three Reasons to Keep Good Records Every Day
  628. Use Accounting Software
  629. Keep Receipts and Invoices
  630. Keep at Least Two Copies of Your Records
  631. Use Business Accounts for Business Expenses
  632. Avoid Using Cash for Business.
  633. Deposit Money from Sales Right Away.
  634. Cash versus Accrual Accounting Methods
  635. Recognizing Categories of Costs
  636. Chapter Summary
  637. Key Terms
  638. Entrepreneurship Portfolio
  639. Critical Thinking Exercises
  640. Key Concept Questions
  641. Application Exercise
  642. Exploring Your Community
  643. Exploring Online
  644. In Your Opinion
  645. BizBuilder Business Plan Questions
  646. 7.0 Financial Analysis and Projections
  647. 7.1 Sources and Uses of Capital
  648. 7.2 Cash Flow Projections
  649. Case Study A Cool Business—MooBella, LLC
  650. Case Study Analysis
  651. Case Sources
  652. Case Study Damon White Party Promotions5
  653. The Problem
  654. Problems Can Lead to Opportunities
  655. Getting Organized
  656. Damon Investigates His Costs
  657. The Party
  658. Keeping Good Records
  659. Future Possibilities
  660. Case Study Analysis
  661. Chapter 13 Using Financial Statements to Guide a Business
  662. Learning Objectives
  663. Scorecards for the Entrepreneur: What Do Financial Statements Show?
  664. Income Statements: Showing Profit and Loss Over Time
  665. Parts of an Income Statement
  666. A Basic Income Statement
  667. The Double Bottom Line
  668. An Income Statement for a More Complex Business
  669. The Balance Sheet: A Snapshot of Assets, Liabilities, and Equity at a Point in Time
  670. Short- and Long-Term Assets
  671. Current and Long-Term Liabilities
  672. The Balance Sheet Equation
  673. The Balance Sheet Shows Assets and Liabilities Obtained through Financing
  674. The Balance Sheet Shows How a Business Is Financed
  675. Analyzing a Balance Sheet
  676. Depreciation
  677. Financial Ratio Analysis: What Is It and What Does It Mean to You?
  678. Income Statement Ratios
  679. Return on Investment
  680. Return on Sales
  681. Common-Sized Statement Analysis
  682. Balance-Sheet Analysis
  683. Quick and Current Ratios
  684. Debt Ratios: Showing the Relationship between Debt and Equity
  685. Operating-Efficiency Ratios
  686. Chapter Summary
  687. Key Terms
  688. Entrepreneurship Portfolio
  689. Critical Thinking Exercises
  690. Key Concept Questions
  691. Application Exercise
  692. Exploring Online
  693. BizBuilder Business Plan Questions
  694. 7.0 Financial Analysis and Projections
  695. 7.3 Balance Sheet Projections
  696. 7.4 Income Statement Projections
  697. 7.5 Breakeven Analysis
  698. 7.6 Ratio Analysis
  699. 7.7 Risks and Assumptions
  700. Case Study Gentle Rest Slumber, LLC: Using Financials to Build Employee Performance4
  701. Case Study Analysis
  702. Case Study Portland Freelancers’ Café: Amy and Steve’s Business Idea5
  703. We Can Do Better
  704. Deluxe Purchases
  705. Financing
  706. Computer Glitch
  707. Business Troubles Brew
  708. Amy and Steve’s EOU
  709. In Hot Water
  710. Changes in the Environment
  711. Amy and Steve’s EOU Revisited
  712. An Uncertain Future
  713. Case Study Analysis
  714. Chapter 14 Cash Flow and Taxes
  715. Learning Objectives
  716. Cash Flow: The Lifeblood of a Business
  717. The Income Statement Does Not Show Available Cash
  718. Rules to Keep Cash Flowing
  719. Noncash Expenses Can Distort the Financial Picture
  720. The Working Capital Cycle
  721. The Cyclical and Seasonal Nature of Cash Flow
  722. Reading a Cash Flow Statement
  723. The Cash Flow Equation
  724. Forecasting Cash Flow: The Cash Budget
  725. Creating a Healthy Cash Flow
  726. Managing Inventory to Manage Cash
  727. Freeing Up Cash by Reducing Inventory
  728. Tracking Inventory
  729. Controlling Inventory Levels
  730. Managing Receivables to Manage Cash
  731. The Cash Effects of Accounts Receivable
  732. The Life Cycle of Accounts Receivable
  733. The Financing of Accounts Receivable
  734. Managing Accounts Payable to Manage Cash
  735. Negotiating Payment
  736. Timing Payables
  737. Capital Budgeting and Cash Flow
  738. The Burn Rate
  739. The Value of Money Changes Over Time
  740. The Future Value of Money
  741. The Present Value of Money
  742. Taxes
  743. Cash Flow and Taxes
  744. Filing Tax Returns
  745. Collecting Sales Tax
  746. Tax Issues for Different Legal Structures
  747. Make Tax Time Easier by Keeping Good Records
  748. Chapter Summary
  749. Key Terms
  750. Entrepreneurship Portfolio
  751. Critical Thinking Exercises
  752. Key Concept Questions
  753. Application Exercise
  754. Exploring Online
  755. BizBuilder Business Plan Questions
  756. 7.0 Financial Analysis and Projections
  757. 7.2 Cash Flow Projections
  758. 7.7 Risks and Assumptions
  759. Case Study Holterholm Farms—Radical Change for Maximum Impact
  760. Case Study Analysis
  761. Case Sources
  762. Case Study Managing Cash: CakeLove and Love Café
  763. Case Study Analysis
  764. Case Sources
  765. Chapter 15 Financing Strategy: Debt, Equity, or Both?
  766. Learning Objectives
  767. Going It Alone versus Securing Financing
  768. How Often Do Small Businesses Really Fail?
  769. What Is the Best Type of Financing for You and Your Business?
  770. Gifts and Grants
  771. Debt Financing
  772. Debt Financing: Pros and Cons
  773. Equity Financing
  774. Equity Financing: Pros and Cons
  775. Where and How to Find Capital That Works for You
  776. Having an Excellent Business Plan Goes a Long Way
  777. How Capital Sources Read Your Business Plan
  778. Family and Friends
  779. Financial Institutions and Dimensions of Credit
  780. Community Development Financial Institutions (CDFIs)10
  781. Community Development Banks
  782. Community Development Credit Unions
  783. Community Development Loan Funds
  784. Community Development Venture Capital Funds
  785. Community Development Financial Institution Resources
  786. Venture Capitalists
  787. Angels
  788. Insurance Companies
  789. Vendor Financing
  790. Federally Supported Investment Companies
  791. Financing for Rural/Agricultural Businesses
  792. Self-Funding: Bootstrap Financing
  793. Accessing Sources Through Online Networking
  794. Investors Want Their Money to Grow: Can You Make It Happen?
  795. How Stocks Work
  796. How Bonds Work
  797. Chapter Summary
  798. Key Terms
  799. Entrepreneurship Portfolio
  800. Critical Thinking Exercises
  801. Key Concept Questions
  802. Application Exercises
  803. Exploring Online
  804. Exploring Your Community
  805. BizBuilder Business Plan Questions
  806. 8.0 Funding Request and Exit Strategy
  807. 8.1 Amount and Type of Funds Requested
  808. Case Study Sweet Success—The Gelato Fiasco Scoops Up Financing
  809. Case Study Analysis
  810. Case Sources
  811. Case Study Chilly Dilly’s Ice Cream Company: Financing Growth
  812. Dylan’s Dream
  813. Revenue Streams
  814. Business Expansion
  815. Funding Chilly Dilly’s Growth
  816. Organic Growth Through Bootstrapping.
  817. Loans from Friends, Family, and Strangers.
  818. Equity Investors or Partners.
  819. Conclusion
  820. Case Study Analysis
  821. UNIT 4 Show Me the Money: Finding, Securing, and Managing It
  822. Lee’s Ice Cream
  823. Getting Started: Jimmie Does His Research
  824. Can Jimmie Reduce His Start-Up Investment?
  825. Financing Strategy
  826. Where Is the Money Coming From?
  827. To Sell or Not to Sell?
  828. Case Study Analysis
  829. UNIT 5 Operating a Small Business Effectively
  830. Chapter 16 Addressing Legal Issues and Managing Risk
  831. Learning Objectives
  832. Business Legal Structures
  833. Sole Proprietorship
  834. How to Register a Sole Proprietorship
  835. Steps to Registering
  836. Partnership
  837. Corporation
  838. Tips for Entrepreneurs Who Want to Start a Nonprofit Organization
  839. Contracts: The Building Blocks of Business
  840. Working with an Attorney
  841. Drafting a Contract
  842. A Successful Contract Should Achieve the Four A’s
  843. Avoid Misunderstanding
  844. Assure Work
  845. Assure Payment
  846. Avoid Liability
  847. Letter of Agreement
  848. Breach of Contract
  849. Small Claims Court
  850. Arbitration
  851. A Contract Is No Substitute for Trust
  852. The Uniform Commercial Code (UCC)
  853. The Law of Agency
  854. Bankruptcy
  855. Protecting Intangible Assets: Intellectual Property
  856. Trademarks and Service Marks
  857. Copyright
  858. Electronic Rights
  859. Patents
  860. Protecting Tangible Assets: Risk Management
  861. Insurance Protects Your Business from Disaster
  862. Basic Coverage for Small Business
  863. How Insurance Companies Make Money
  864. Protect Your Computer and Data
  865. Disaster Recovery Plans
  866. Licenses, Permits, and Certificates
  867. Chapter Summary
  868. Key Terms
  869. Entrepreneurship Portfolio
  870. Critical Thinking Exercises
  871. Key Concept Questions
  872. Application Exercise
  873. Exploring Your Community
  874. BizBuilder Business Plan Questions
  875. 3.0 Company Description
  876. 6.0 Management and Operations
  877. 6.2 Research and Development
  878. 6.3 Physical Location
  879. 6.5 Inventory, Production, and Quality Assurance
  880. Case Study The Bun Companies—Rising through Time
  881. Case Study Analysis
  882. Case Sources
  883. Case Study Airbnb—Navigating the Sharing Economy
  884. The Process
  885. Legal Guidelines from Airbnb
  886. Safety and Security
  887. Challenges to Airbnb from Competitors and the Law
  888. Case Study Analysis
  889. Case Sources
  890. Chapter 17 Operating for Success
  891. Learning Objectives
  892. Operations Permit Businesses to Deliver on Their Promises
  893. The Production-Distribution Chain
  894. Supply Chain Management
  895. Finding Suppliers
  896. Managing Inventory
  897. Visual Control
  898. Safety Stock and Reorder Points
  899. Economic Order Quantity
  900. Creating a Purchasing Plan
  901. Managing the Chain: Analyzing and Selecting Vendors
  902. Legal Considerations
  903. The Idea-To-Product Process
  904. Why Manufacturing Is Unique
  905. Job Shops
  906. Manufacturing Tips
  907. Just-in-Time Manufacturing
  908. Product Design and Costs
  909. Making versus Buying
  910. Facilities Location and Design
  911. Defining Quality: It Is a Matter of Market Positioning
  912. Profits Follow Quality
  913. Organization-Wide Quality Initiatives
  914. Benchmarking
  915. ISO 9000
  916. Six Sigma
  917. Total Quality Management
  918. Malcolm Baldrige Award
  919. Using Technology to Your Advantage
  920. Computer Access Is Essential
  921. Capture the Potential of the Telephone
  922. Identify Market-Specific Software and Technology
  923. Electronic Storefront (Web Site)
  924. Chapter Summary
  925. Key Terms
  926. Entrepreneurship Portfolio
  927. Critical Thinking Exercises
  928. Key Concept Questions
  929. Application Exercises
  930. Exploring Your Community
  931. Biz Builder Business Plan Questions
  932. 6.0 Management and Operations
  933. 6.5 Inventory, Production, and Quality Assurance
  934. Case Study Producing Quality American Made Furniture: Gat Creek Furniture
  935. Case Study Analysis
  936. Case Sources
  937. Case Study Sewing Up Business in New Ways—Sew What? Inc.
  938. Case Study Analysis
  939. Case Sources
  940. Chapter 18 Location, Facilities, and Layout
  941. Learning Objectives
  942. The Importance of Physical Location
  943. Key Factors in Deciding on a Location
  944. Different Types of Businesses Have Different Location Needs
  945. Options and Criteria for Manufacturing Facilities
  946. Options and Criteria for Wholesale Businesses
  947. Options and Criteria for Retail Businesses
  948. Options and Criteria for Service and Professional Businesses
  949. Evaluating Location Alternatives
  950. Facilities Design and Layout
  951. Special Considerations for Home-Based Businesses
  952. Special Considerations for Web-Based Businesses
  953. Chapter Summary
  954. Key Terms
  955. Entrepreneurship Portfolio
  956. Critical Thinking Exercises
  957. Key Concept Questions
  958. Application Exercises
  959. Exploring Online
  960. BizBuilder Business Plan Questions
  961. 5.0 Marketing Strategy and Plan
  962. 5.4 Place
  963. 6.0 Management and Operations
  964. 6.3 Physical Location
  965. 6.4 Facilities
  966. Case Study Democratizing Education Worldwide
  967. Case Study Analysis
  968. Case Sources
  969. Case Study The Nightmare—Mike the Mechanic6
  970. Case Study Analysis
  971. Chapter 19 Human Resources and Management
  972. Learning Objectives
  973. Business Management: Building a Team
  974. What Do Managers Do?
  975. Adding Employees to Your Business
  976. Growing Your Team
  977. Creating and Managing Organizational Culture
  978. Determining Organizational Structure
  979. Getting the Best Out of Your Employees
  980. Communicating Effectively
  981. Human Resources Fundamentals
  982. Compensation and Payroll
  983. Benefits
  984. Organizational Development
  985. Education and Development
  986. Labor Law and HR Compliance
  987. Performance Management
  988. Human Resources Strategy
  989. Firing and Laying Off Employees
  990. Chapter Summary
  991. Key Terms
  992. Entrepreneurship Portfolio
  993. Critical Thinking Exercises
  994. Key Concept Questions
  995. Application Exercises
  996. Exploring Online
  997. In Your Opinion
  998. BizBuilder Business Plan Questions
  999. 6.0 Management and Operations
  1000. 6.1 Management Team
  1001. Case Study If at First You Don’t Succeed . . . Enablemart Learns a Valuable Lesson
  1002. Case Study Analysis
  1003. Case Sources
  1004. Case Study Casino Grande5
  1005. About Casino Grande
  1006. Case Study Analysis
  1007. UNIT 5 Operating a Small Business Effectively
  1008. ONLC Training Centers: Virtual IT Training in a Classroom
  1009. Riding the Tide and Battling the Currents
  1010. Pivoting the Business
  1011. Differentiation through Remote Classroom Instruction
  1012. Systematic Site Selection
  1013. The Business of ONLC Is Logistics
  1014. Case Study Analysis
  1015. Case Source
  1016. UNIT 6 Leadership, Ethics, and Exits
  1017. Chapter 20 Leadership and Ethical Practices
  1018. Learning Objectives
  1019. The Entrepreneur as Leader
  1020. Leadership Styles That Work
  1021. How Entrepreneurs Pay Themselves
  1022. Manage Your Time Wisely
  1023. Ethical Leadership and Ethical Organizations
  1024. An Ethical Perspective
  1025. Establishing Ethical Standards
  1026. Corporate Ethical Scandals
  1027. Integrity and Entrepreneurial Opportunities
  1028. What Is Integrity?
  1029. Doing the Right Thing in Addition to Doing Things Right
  1030. Balancing the Needs of Owners, Customers, and Employees
  1031. Complying with the Law
  1032. Social Responsibility and Ethics
  1033. Leading with Integrity and Examples
  1034. Encourage Your Employees to Be Socially Responsible
  1035. Chapter Summary
  1036. Key Terms
  1037. Entrepreneurship Portfolio
  1038. Critical Thinking Exercises
  1039. Key Concept Questions
  1040. Application Exercises
  1041. Exploring Online
  1042. BizBuilder Business Plan Questions
  1043. 6.0 Management and Operations
  1044. 6.1 Management Team
  1045. Case Study Crisis at Agritechno Hybrid
  1046. Case Study Analysis
  1047. Case Study AYZH Inc.—Seeing Opportunities to Improve Women’s Health
  1048. Addressing Social Issues
  1049. Operating as a For-Profit Business with a Social Mission
  1050. Growing the Organization’s Outreach through Partnerships
  1051. Case Study Analysis
  1052. Case Sources
  1053. Chapter 21 Franchising, Licensing, and Harvesting: Cashing in Your Brand
  1054. Learning Objectives
  1055. What Do You Want from Your Business?
  1056. Continuing the Business for the Family
  1057. Growth through Diversification
  1058. Growth through Licensing and Franchising
  1059. Focus Your Brand
  1060. When Licensing Can Be Effective
  1061. Franchising Revisited from the Franchisor Perspective
  1062. How a McDonald’s Franchise Works
  1063. Do Your Research before You Franchise
  1064. Harvesting and Exiting Options
  1065. When to Harvest Your Business
  1066. How to Value a Business
  1067. The Science of Valuation
  1068. Creating Wealth by Selling a Profitable Business
  1069. Harvesting Options
  1070. Exit Strategy Options
  1071. Investors Will Care about Your Exit Strategy
  1072. Chapter Summary
  1073. Key Terms
  1074. Entrepreneurship Portfolio
  1075. Critical Thinking Exercises
  1076. Key Concept Questions
  1077. Application Exercise
  1078. Exploring Online
  1079. Bizbuilder Business Plan Questions
  1080. 8.0 Funding Request and Exit Strategy
  1081. 8.2 Exit Plan
  1082. 8.3 Milestones
  1083. Case Study Anago Cleaning Systems—Growth through Franchising
  1084. Franchising from the Start
  1085. Master Franchises
  1086. Unit Franchises
  1087. Continued Opportunities for Growth
  1088. Case Study Analysis
  1089. Case Sources
  1090. Case Study iContact—Exiting through a Sale
  1091. iContact
  1092. Vocus Inc.
  1093. iContact’s Founders
  1094. Case Study Analysis
  1095. Case Sources
  1096. UNIT 6 Cashing in the Brand
  1097. Honest Tea—From Start-Up to Harvest
  1098. The Honest Tea Story
  1099. Honest Tea’s Competitive Advantages
  1100. Socially Responsible Business
  1101. Staying in the Game
  1102. Honest Tea and Coca-Cola—A Marriage Made in Beverage Heaven?
  1103. Case Study Analysis
  1104. Case Sources
  1105. Appendix 1 Sample Student Business Plan
  1106. Appendix 2 BizBuilder Business Plan
  1107. BizBuilder Business Plan Worksheet Questions/Notes
  1108. If You Are Starting a Not-for-Profit Organization, Also Consider
  1109. Appendix 3 Resources for Entrepreneurs1
  1110. Additional Resources
  1111. Awards for Entrepreneurs
  1112. Appendix 4 Useful Formulas and Equations
  1113. Liquidity Ratios
  1114. Activity Ratios (Efficiency Ratios)
  1115. Profitability Ratios
  1116. Market Ratios
  1117. Debt Ratios (Leverage Ratios)
  1118. Glossary
  1119. Index

 

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