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9.1 Overview of Entrepreneurial Finance and Accounting Strategies
LEARNING OBJECTIVES By the end of this section, you will be able to: Distinguish between financing and accounting Describe common financing strategies for different stages of the company lifecycle: personal savings, personal loans, friends and family, c...
8.1 Entrepreneurial Marketing and the Marketing Mix
LEARNING OBJECTIVES By the end of this section, you will be able to: Distinguish between traditional marketing and entrepreneurial marketing Describe the seven elements of the marketing mix Being a successful entrepreneur often means being able to ...
11.1 Avoiding the “Field of Dreams” Approach
LEARNING OBJECTIVES By the end of this section, you will be able to: Understand the importance of planning Understand the concepts of product and service innovation, and define and understand key business models Describe and be able to construct a valu...
Introduction
Figure 11.1 The initial plan for Vita Coco did not work for its founders, Michael Kirban and Ira Liran, but the coconut water found later success, ultimately becoming the market leader, by using customer-focused design throughout the entrepreneurial process....
8.6 Sales and Customer Service
LEARNING OBJECTIVES By the end of this section, you will be able to: Explain the importance of sales strategy and provide an example Explain the importance of customer service A sales strategy is a plan that the entrepreneur uses to identify and en...
8.5 Marketing Strategy and the Marketing Plan
LEARNING OBJECTIVES By the end of this section, you will be able to: Distinguish between a marketing strategy, a marketing plan, and a pitch Describe the elements of a marketing plan Now that you have a better idea of what marketing is, you are rea...
8.4 Entrepreneurial Branding
LEARNING OBJECTIVES By the end of this section, you will be able to: Understand the importance of customer-focused branding Explain the steps in defining and developing a brand Describe the benefits of brand advocacy In a business context, the wor...
8.3 Marketing Techniques and Tools for Entrepreneurs
LEARNING OBJECTIVES By the end of this section, you will be able to: Describe effective entrepreneurial marketing techniques (guerilla, relationship, expeditionary, real-time, viral, digital, word-of-mouth) Discuss the pros and cons of these marketing t...
8.2 Market Research, Market Opportunity Recognition, and Target Market
LEARNING OBJECTIVES By the end of this section, you will be able to: Distinguish between primary and secondary market research Define a research goal and the importance of research design Understand how to choose a sample, and collect and analyze data ...
Introduction
Figure 8.1 Birchbox founders Katia Beauchamp and Hayley Barna have disrupted the beauty and fashion retail industries with their monthly cosmetics sample boxes. (credit: modification of “487908877AP00050_TechCrunch” by TechCrunch/Flickr, CC BY 2.0) ...
9.2 Special Funding Strategies
LEARNING OBJECTIVES By the end of this section, you will be able to: Identify funding strategies used by charitable organizations Describe financing opportunities available to startups Define bootstrapping Describe the advantages and disadvantages of ...
10.5 Growth: Signs, Pains, and Cautions
LEARNING OBJECTIVES By the end of this section, you will be able to: Determine the lifecycle of a business Identify strategies to manage the main needs of each lifecycle stage Explain how businesses grow and adapt to changes in their cycles The wo...
10.4 Managing, Following, and Adjusting the Initial Plan
LEARNING OBJECTIVES By the end of this section, you will be able to: Explain the difference between a business plan and a lean plan Know how to develop a lean plan quickly and accurately Run the build-measure-learn loop In this chapter, we’ve disc...
10.3 The Challenging Truth about Business Ownership
LEARNING OBJECTIVES By the end of this section, you will be able to: Explain the pros and cons of business ownership before you launch Understand current trends in entrepreneurship in the US Determine the challenges women face in entrepreneurship and w...
10.2 Why Early Failure Can Lead to Success Later
LEARNING OBJECTIVES By the end of this section, students will be able to: Determine several reasons for business failure and explore strategies to overcome them Understand the root of fear of failure Learn to spot signs of fear of failure and take step...
10.1 Launching the Imperfect Business: Lean Startup
LEARNING OBJECTIVES By the end of this section, you will be able to: Describe how businesses use lean startup principles to develop products and test markets Identify how the build-measure-learn method helps companies understand what potential customers...
Introduction
Figure 10.1 Dropbox, founded by Drew Houston and Arash Ferdowsi, has realized unprecedented growth, as the company is valued in the billions of dollars. (credit: modification of “Dropbox” by Ian Lamont/Flickr, CC BY 2.0) Chapter Outline ...
9.4 Developing Startup Financial Statements and Projections
LEARNING OBJECTIVES By the end of this section, you will be able to: Understand the three primary financial statements: balance sheet, income statement, and statement of cash flows Understand how financial projections are made and how to use the run rate an...
9.3 Accounting Basics for Entrepreneurs
LEARNING OBJECTIVES By the end of this section, you will be able to: Explain the accounting equation and define its parts (assets, liabilities, and equity) Define revenue, expenses, and income Although financing and accounting complement and rely on each o...
11.2 Designing the Business Model
Portions of the material in this section are based on original work by Geoffrey Graybeal and produced with support from the Rebus Community. The original is freely available under the terms of the CC BY 4.0 license at https://press.rebus.community/media-innova...