Table of Contents

Preface
Acknowledgments
About the Authors
Chapter 1. The Entrepreneurial Venture
Chapter Learning Objectives
The Entrepreneur
Types of Entrepreneurial Ventures
Where Are Today’s Entrepreneurs Coming From?
Your Challenge
Global Entrepreneurship and the Acceleration of Competition
Customer-Focused Business Models
Developing an Entrepreneurial Culture
The Need for Continuous Change
Social Entrepreneurship in Our Economy
Conclusion
Entrepreneurial Exercises
Chapter 2. Creativity and Market Viability
Chapter Learning Objectives
In Search of the Valuable Idea
The Power of Human Creativity
Screening and Evaluating Ideas
Market Evaluation Steps
Creating a Potential Adopter Profile
Building an Opportunity Evaluation Model
The Seven-Part Assessment Model
Assessing the Actual Market Potential: The Ugly Realities
Conclusion
Entrepreneurial Exercises
Chapter 3. Industry and Competitive Analysis
Chapter Learning Objectives
Assessing the Industry
The Macroenvironmental Analysis Process
Components of the Macroenvironment
Stages of Industry Development
Analyzing Industry Behavior
Competitive Analyses and Competitive Profile Matrices
Creating Your Business Model
Entrepreneurial Exercises
Chapter 4. New Venture Marketing
Chapter Learning Objectives
Customers and the Market
“Market Disruptors”
Switching Cost: A Barrier to Adoption
Market Research and Market Segmentation
Effective Marketing Strategies
Components of a Marketing Strategy
Product Strategies
Place Strategies
Pricing Strategies
Promotion Strategies
Conclusion
Entrepreneurial Exercises
Chapter 5. The Financial Plan
Chapter Learning Objectives
By the Numbers
Financial Analysis
Basic Financial Statements
Breakeven Analysis and the Pro Forma Financial Statement
Financial Ratio Analysis
Conclusion
Entrepreneurial Exercises
Chapter 6. Cash Flow Management
Chapter Learning Objectives
Cash and Profits Are Not the Same
Cash Flow Process
Cash Flow Management: Inventories
Cash Flow Management: Accounts Payable
Avoiding the Cash Crunch
Conclusion
Entrepreneurial Exercises
Chapter 7. The Founder and the New Venture Team
Chapter Learning Objectives
Founder’s Responsibility
The Founder as Leader
Leadership in Action
Team Member Success = Organizational Success
Team Member Selection
Creating an Ethical Environment
Conclusion
Entrepreneurial Exercises
Chapter 8. Forms of Ownership
Chapter Learning Objectives
Protecting Intellectual Property
Protecting Intellectual Property Rights
Selecting an Appropriate Form of Ownership
Business Licenses and Permits
Contracts
Selecting an Attorney
Conclusion
Entrepreneurial Exercises
Chapter 9. The Business Plan
Chapter Learning Objectives
The Value of Writing a Business Plan
Road Map to Success
Challenges of the Business Plan
Structure of the Business Plan
Presenting the Business Plan
Entrepreneurial Exercises
Chapter 10. Equity Capital
Chapter Learning Objectives
Equity Capital
Sources of Equity Financing
Types of Equity Instruments
Raising Equity Capital
Entrepreneurial Exercises
Chapter 11. Debt and Alternative Forms of Investment Capital
Chapter Learning Objectives
Fundamentals of Non-Equity Financing
Government Sources of Capital
Entrepreneurial Exercises
Chapter 12. Structuring the Deal
Chapter Learning Objectives
Managing Investor Expectations
Valuing the Start-Up Company
Example of a Draft Private Placement Memorandum
Entrepreneurial Exercises
Chapter 13. Harvesting the Venture
Chapter Learning Objectives
Preparing For Your Exit
Selling the Venture
Mergers
Public Liquidity Event
Bankruptcy
Entrepreneurial Exercises
Cases
Case 1: Never Underestimate the Power of Marketing
Case 2: A Little Bit of Science Never Hurts
Case 3: When Adversity Strikes
Case 4: Knowing When to Regroup
Case 5: When to Trust Your Gut
Case 6: Listen to Customers and Advance Incrementally
Case 7: Mitigate Risk
Case 8: Venture Capitalist Turned Entrepreneur
Case 9: Living an Entrepreneur’s Life
Case 10: To Sell or Not to Sell
References
Index

About the Author

Michael Fountain serves as the Founding Director of the University of South Florida Center for Entrepreneurship.  He also serves as the Director of the USF Student Innovation Incubator.  Michael served as the National Director of the National Consortium for Life Science Entrepreneurship from 1999-2004 and as an Entrepreneur –in-Residence at the Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation.  Dr. Fountain currently holds Five professorships including:

The John & Beverley Grant Endowed Chair in Entrepreneurship, the Muma College of Business

Professor, USF Industrial Management and Systems Engineering

Professor, Psychiatry and Behavioral Neurosciences, the Morsani College of Medicine

Professor, USF College of Pharmacy

Professor, USF Institute for Advanced Discovery and Innovation

 

Dr. Fountain founded or co-founded eleven new ventures based on his research, three of which became publicly traded companies.  Michael holds 30 issued United States patents and over 100 international patents.  These patented technology platforms are currently utilized in over 180 products.

Dr. Fountain has published over 70 peer-reviewed publications.

During his corporate career Michael served as the Chief Executive Officer, Chairman of the Board and Chief Scientific Officer of a number of public and private companies.


Tom Zimmerer has spent the majority of his career in academics serving as the Entrepreneurial Scholar in Residence at the University of South Florida’s Center for Entrepreneurship.  Prior to that he served as the dean of the School of Business at Saint Leo University and the Director of the Breech School of Business at Drury University.

Tom held the Allen and Ruth Harris Chair of Excellence at East Tennessee State University.  While a professor at Clemson University he was the co-founder of Clemson University Emerging Technology and Marketing Center.

Tom has published 10 textbooks and over 200 articles and professional papers.  In 1984 he was honored by the Industrial Research Institute with the Maurice Holland award.

Tom was a consultant and executive trainer to over 100 United States and international businesses, governments, universities and trade and professional associations.

Reviews

"Finally a textbook about entrepreneurship written by those who have actually done it rather than just studied it."
*W. Don Stull*

"This is a practical hands-on approach that is worth considering for your course–concise and full of meaningful exercises and examples." 
*Violet Z. Christopher*

"This book is a great resource for potential entrepreneurs and a good foundation for those brave enough to strike out on their own." 
*Kim L. Wangler*

"Launching Successful Ventures is a decent resource for an introductory or mid-level course. It has the potential to be an excellent resource alongside writing a business plan. It also offers a detailed breakdown of the most vital concepts comprising entrepreneurship." 
*Adam Starks*

"This book is well written with concepts that would engage students’ intellect in the Launching New Venture class." 
*Benjamin K. Ofili*

"Practical with meaningful learning activities." 
*Ayisha E. Sereni*

"This text attempts to offer the new entrepreneur a guide for success and focuses a good deal of attention on the analytical skills that many new entrepreneurs lack."
*Aaron M. Butler*

"This text is tuned for the high-growth venture founder who has a preconceived business concept." 
*Stephen E. Lanivich*

"An excellent tool for entrepreneurship classes." 
*William J. Carner*

"A great text for non-business majors, students without prior business knowledge, or nascent entrepreneurs to quickly gain an understanding of the process of entrepreneurship and access to some tools to quickly get them working on building their business." 
*April J. Spivack*