About the Book

Patterns of Entrepreneurship Management is the essential road-map for anyone interested in starting a new business. The text is infused with the authors’ experience teaching, writing, and launching successful ventures.

In the Fourth Edition, the authors have incorporated the most up-to-date content, addressing the enormous changes in the investment climate, stunning new applications for social networks, and the evolution of new business models.

With updated themes, cases and features, Patterns of Entrepreneurship Management 4th Edition supports a greatly enhanced interactive learning experience that addresses the challenges, issues and rewards faced by entrepreneurs starting, growing, and exiting a venture.

About the Author

Jack M. Kaplan, President, Founder of Datamark Technologies Inc, is a serial entrepreneur who has founded and managed three successful companies in high tech ventures. His focus is on businesses that require guidance and management team expertise during the initial growth stages. Companies started and acquired include Comprehensive Computer Systems, Health Information Technologies and his current company Datamark technologies Inc. specializing in electronic gift stored value cards, loyalty programs, database marketing, and incentive promotional programs for the retail, resort, and restaurant markets. As Adjunct Professor of Entrepreneurship, at Columbia Business School he has developed and taught the entrepreneurial graduate MBA and EMBA courses concentrating in The Entrepreneurial Manager and technology new ventures. His other activities include, assisting students in preparing for business plan competition, judging best plan awards, and providing guidance and venture capital assistance to students in starting their business ventures. He is on the board of advisors for The Center for Advanced Technology, Columbia University, to promote and facilitate the commercial use of academic based technology and intellectual property.

Table of Contents:
Preface List of Cases and Profiles PART ONE: GETTING STARTED AS AN ENTREPRENEUR Chapter 1 The Entrepreneurial Process Introduction Profile: Wayne McVicker--A Typical Entrepreneur An Entrepreneurial Perspective Commonly Shared Entrepreneurial Characteristics Types of Entrepreneurs The Need to Control The Spiderweb Model Finding Early Mentors Managing Stress The Five-Stage Entrepreneurial Process The Growth of Entrepreneurial Companies The Growth Period Entrepreneurship Roller Coaster So Why Become an Entrepreneur? Use the Master-Case to Develop Management Skills Summary Study Questions Exercises Interactive Learning on the Web Additional Resources Additional Cases for Reading Endnotes Chapter 2 The Art of Innovation Introduction Profile: Becky Minard and Paal Gisholt--Finding a Point of Pain Why Innovation is Important Definition and Types of Innovation Frameworks for Learning Innovation Skills Finding and Assessing Ideas Converting an Idea into an Opportunity Opportunity: Five Phases to Success Summary Study Questions Exercises Interactive Learning on the Web Additional Resources Endnotes Chapter 3 Designing Business Models Introduction Profile: Neal Deangelo--Using Data Collection1 Definition of Business Models Frameworks for Constructing Business Models Capturing Value in the Supply Chain Using Databases to Create Value Locking- In Customers Example: General Fasteners Licensing and Franchising Outsourcing Resources Models Built around Social Networks Corporate Partnering Summary Study Questions Exercises Interactive Learning on the Web Additional Resources Endnotes Chapter 4 Analyzing the Market, Customers, and Competition Introduction Profile: Donn Rappaport--Marketing Visionary1 Conducting Marketing Research to Start the Venture Mini-Case: Breathe Simple "Smokescreen" Market Research2 Formulating a Successful Marketing Plan Defining the Market Segmentation Conducting a Competitive Analysis Positioning the Product or Service Preparing the Pricing and Sales Strategy Penetrating the Market and Setting Up Sales Channels Summary Study Questions Exercises Interactive Learning on the Web Case Study: Smart Card LLC Marketing Plan Appendix: Marketing Research Techniques Additional Resources Endnotes Chapter 5 Writing the Winning Business Plan Introduction Profile: Nikolay Shkolnik--Business Plan Turns a Dream into Reality1 The Value of a Business Plan Setting Goals and Objectives Starting the Process to Write the Plan: Five Steps Determining What Type of Business Plan Is Best A Typical Business Plan Format and Content Understanding Why Business Plans Fail Summary Study Questions Exercises Case Study: Surfparks LLC (Online) Appendix: The Roadmap Guide for Writing A Business Plan Interactive Learning on the Web Additional Resources Endnotes Chapter 6 Setting Up the Company Introduction Profile: Ethan Wendle and Matt Chverchko--When to Convert from an S- to a C-Corporation Identifying What Form of Ownership Is Best Forms of Doing Business Sole Proprietorship C-Corporation S-Corporation Partnership Limited Liability Company Business Start-Up Checklist Summary Study Questions Exercises Interactive Learning on the Web Endnotes PART TWO: SPECIAL TOPICS: SOCIAL ENTREPRENEURSHIP TECHNOLOGY ENTREPRENEURSHIP Chapter 7 Special Topic: Social Entrepreneurship Introduction Social Entrepreneurs and Green Initiatives Profile: Khanjan Mehta--A Social Entrepreneur To Profit or Not to Profit Social Entrepreneurship and Tax Issues Differences between Business and Social Entrepreneurs Stakeholder Issues and Challenges Growth and Management Challenges Enhanced Revenue Opportunities Social Entrepreneurship Business Models Using the Inverse Commons to Build a Social Enterprise Using Social Media to Grow Appplying Other Chapters in this Book to Social Entrepreneurship Summary Study Questions Exercises Interactive Learning on the Web Additional Resources Endnotes Chapter 8 Technology Entrepreneurship Introduction Profile: Ian Kibblewhite--An Integrated IP Strategy Concepts Relevant to Technology-Based Companies Intellectual Property Management Summary Internet IP Source Sites Study Questions Exercises Interactive Learning on the Web Additional Resources Endnotes PART THREE: FUNDING THE VENTURE Chapter 9 Early-Stage Funding Introduction Profile: James Dyson--Bootstrapping out of Necessity The Virtual Company--Mini-Case, Halare Inc. Securing Early-Stage Funding Self-Funding--Example, BenchPrep Inc. Moonlighting and Part-Time Consulting Bootstrapping Methods--Example, Injection Research Specialists Family and Friends Angels Micro-Equity and Micro-Loans--A Little Money, a Lot of Help Bank Loans, Factoring, and Supplier Lines of Credit Managing Your Personal Credit Rating Government Sources of Funding How to Qualify Summary Study Questions Exercises Interactive Learning on the Web Appendix: Start-Up Entrepreneurs and Business Incubators Web Sites of Leading For-Profit Incubators Additional Resources Using University Outreach Programs Endnotes Chapter 10 Equity Financing Introduction Profile: Jason Cong, AutoESL Inc.--Super Angels, VC, and Corporate Investors The State of the Venture Capital Industry Super-Angels Equity Investment Fundamentals Using Private Equity for Fundraising Understanding the Venture Capital Process Guide to Selecting a Venture Capitalist Private Placements and Crowdfunding Home Runs or Singles? Corporate Debt Strategic Partnerships and Corporate Investments How to Value a Business at the Early Stage Summary Study Questions Exercises Case Study: Coretek, Inc. Interactive Learning on the Web Addition al Resources Appendix 1: Due Diligence Checklist (Online) Appendix 2: Model Venture Capital Term Sheet--Series A Preferred Stock (Online) Endnotes PART FOUR: BUILDING AND EXITING Chapter 11 Managing Resources--Money and People Introduction Profile: Paul Silvis--Conserving Cash While Building an Embracing Culture Financial Statements The Value of the Balance Sheet The Value of an Income Statement The Value of a Cash Flow Statement Preparing Financial Projections Preparing an Annual Budget Preparing a Cash Flow Forecast Preparing a Breakeven Analysis Analyzing an Investment Decision Taxes and Filing The Stresses of Managing Money Managing Human Resources--Introduction Developing a Strong Corporate Culture Finding and Hiring the Best People Dealing with Firing an Employee Dealing with a Resignation Conflicts of Interest and Business Ethics Legal Issues Setting Up Stock-Option Agreements Summary Study Questions Exercises Interactive Learning on the Web Additional Resources Appendix: Legal Document Templates (Online) Endnotes Chapter 12 Communicating the Opportunity Introduction Profile: Craig Bandes--Matching Presentations to Investors Locating Investors Preparing a Teaser The Elevator Pitch Note on Confidentiality After the Presentation Summary Study Questions Exercises Interactive Learning on the Web Endnotes Chapter 13 Exiting the Venture Introduction Profile: Alan Trefler--Private to Public Ownership Why Create an Exit Strategy and Plan Selling an Equity Stake to a Strategic Partner Valuing a Later-Stage Company Implementing the Plan of Action Selling the Business Preparing a Selling Memorandum Merge with Another Business Selling the Company to Its Managers, Employees, or Family Members Using an Employee Stock Ownership Plan (ESOP) Using a Management Buy-Out (MBO) Passing on the Company to Family Members Consider a Public Offering Summary Study Questions Exercises Interactive Learning on The Web Additional Resources Endnotes Addendum: Three Case Studies Covering the Whole Book Glossary of Terms Index