Preface --
section I. The challenge of entrepreneurship --
1. The foundations of entrepreneurship --
The world of the entrepreneur --
What is an entrepreneur? --
The benefits of entrepreneurship --
The potential drawbacks of entrepreneurship --
Behind the boom : what's feeding the entrepreneurial fire --
The cultural diversity of entrepreneurship --
The power of "small" business --
The ten deadly mistakes of entrepreneurship --
Putting failure into perspective --
How to avoid the pitfalls --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
2. Inside the entrepreneurial mind : from ideas to reality --
Creativity, innovation, and entrepreneurship --
Creativity, a necessity for survival --
Creative thinking --
Barriers to creativity --
How to enhance creativity --
The creative process --
Techniques for improving the creative process --
Intellectual property : protecting your ideas --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... section II. Building the business plan : beginning considerations --
3. Designing a competitive business model and building a solid strategic plan --
Building a competitive advantage --
The strategic management process --
Conclusion --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
4. Conducting a feasibility analysis and crafting a winning business plan --
Conducting a feasibility analysis --
Why develop a business plan? --
The elements of a business plan --
What lenders and investors look for in a business plan --
Making the business plan presentation --
Conclusion --
Business plan format --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
5. Forms of business ownership --
The sole proprietorship --
The partnership --
Corporations --
Other forms of ownership --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
6. Franchising and the entrepreneur --
Types of franchising --
The benefits of buying a franchise --
The drawbacks of buying a franchise --
Franchising and the law --
The right way to buy a franchise --
Trends shaping franchising --
Conclusion --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
7. Buying an existing business --
Buying an existing business --
The steps in acquiring a business --
Evaluating an existing business, the due diligence process --
Methods for determining the value of a business --
Understanding the seller's side --
Negotiating the deal --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... section III. Building the business plan : marketing and financial considerations --
8. Building a powerful marketing plan --
Building a guerrilla marketing plan --
Pinpointing the target market --
Determining customer needs and wants through market research --
Plotting a guerrilla marketing strategy : how to build a competitive edge --
Marketing on the World Wide Web --
The marketing mix --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
9. E-commerce and the entrepreneur --
Benefits of selling on the Web --
Factors to consider before launching into e-commerce --
Twelve myths of e-commerce --
Strategies for e-success --
Designing a killer Web site --
Tracking Web results --
Ensuring Web privacy and security --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
10. Pricing strategies --
Three potent forces : image, competition, and value --
Pricing strategies and tactics --
Pricing strategies and methods for retailers --
Pricing concepts for manufacturers --
Pricing strategies and methods for service firms --
The impact of credit on pricing --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
11. Creating a successful financial plan --
Basic financial statements --
Creating projected financial statements --
Ratio analysis --
Interpreting business ratios --
Break-even analysis --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
12. Managing cash flow --
Cash management --
Cash and profits are not the same --
The cash budget --
Preparing a cash budget --
The "big three" of cash management --
Avoiding the cash crunch --
Barter --
Conclusion --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... section IV. Putting the business plan to work : sources of funds --
13. Sources of financing : debt and equity --
Planning for capital needs --
Equity capital versus debt capital --
Sources of equity financing --
The nature of debt financing --
Federally sponsored programs --
Small Business Administration --
State and local loan development programs --
Internal methods of financing --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
14. Choosing the right location and layout --
Location : a source of competitive advantage --
Location criteria for retail and service businesses --
Location options for retail and service businesses --
The location decision for manufacturers --
Layout and design considerations --
Layout : maximizing revenues, increasing efficiency, or reducing costs --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
15. Global aspects of entrepreneurship --
Why go global? --
Strategies for going global --
Barriers to international trade --
International trade agreements --
Conclusion --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
16. Building a new venture team and planning for the next generation --
Leading in the new economy --
Building an entrepreneurial team : hiring the right employees --
Creating an organizational culture that encourages employee retention --
Management succession : passing the torch of leadership --
Exit strategies --
Chapter summary by learning objectives --
Discussion questions --
Business plan pro --
Beyond the classroom ... --
Appendix. Sample business plan : total health and fitness --
Cases --
Endnotes --
Photo credits --
Name index --
Subject index.