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Guiding students through a complete "life cycle of the firm," ENTREPRENEURIAL FINANCE, 6e, introduces the theories, knowledge, and corporate finance tools and techniques an entrepreneur needs to start, build, and eventually harvest a successful venture. With a strong emphasis on sound financial management practices, the text explores how to secure financing, use business cash flow models, and strategically position the early-stage company. Students also learn how to effectively interact with financial institutions and regulatory agencies that can affect venture growth and enable liquidity for investors. Drawing on real-life entrepreneurial ventures and common financial scenarios, the authors include in-depth capstone cases, mini-cases, and examples that engage students and vividly illustrate such key concepts as venture capital funds, institutional investors, strategic alliances, the role of business angels, licensing agreements, and exit strategies.
- Completely up to date and packed with new examples, ENTREPRENEURIAL FINANCE, 6e, reflects the latest trends, issues, and developments from the field.
- The sixth edition includes the most current materials available from the clarification of the new securities law features enabled by the JOBS Act -- including securities crowdfunding.
- All-new "From the Headlines" stories highlight recent early-stage companies and their financing histories, giving students real-world insight into chapter concepts.
- TWO CAPSTONE CASES ENABLE STUDENTS TO SYNTHESIZE ESSENTIAL IDEAS. In addition to thorough coverage of key concepts and engaging, real-world examples to bring them to life, the text includes two in-depth capstone cases that give students hands-on experience integrating and applying the numerous concepts they have explored.
- END-OF-CHAPTER MATERIALS PROVIDE WEALTH OF OPPORTUNITIES TO APPLY CONCEPTS. Each chapter concludes with a variety of learning features to help students review and apply the material, assess their understanding, and identify any areas in need of additional attention. Highlights include Chapter Summaries, Key Terms, Discussion Questions, Internet Activities, Exercises and Problems, Supplemental Exercises, and Mini Cases.
- ENGAGING, CONVERSATIONAL STYLE MAKES THE TEXT REMARKABLY STUDENT FRIENDLY. The authors' conversational, reader-friendly tone and straightforward explanations make even complex concepts easier to understand, apply, and retain.
- TIME-SAVING INSTRUCTOR MATERIALS SIMPLIFY CLASS PREPARATION. The text's robust companion website includes a variety of resources to enhance your teaching experience and reduce preparation time. Written by the text authors, the Instructor's Manual includes answers to end-of-chapter questions and problems, and an extensive Test Bank provides true/false and multiple-choice questions as well as short test problems. Microsoft® PowerPoint® lecture slides bring lectures to life, while supplementary Excel® spreadsheet models allow students to complete exercises linked to specific text chapters.
1. Introduction to Finance for Entrepreneurs.
2. Developing the Business Idea.
Part 2: ORGANIZING AND OPERATING THE VENTURE.
3. Organizing and Financing a New Venture.
4. Preparing and Using Financial Statements.
5. Evaluating Operating and Financial Performance.
Part 3: PLANNING FOR THE FUTURE.
6. Managing Cash Flow.
7. Types and Costs of Financial Capital.
8. Securities Law Considerations When Obtaining Venture Financing.
Part 4: CREATING AND RECOGNIZING VENTURE VALUE.
9. Projecting Financial Statements.
10. Valuing Early-Stage Ventures.
11. Venture Capital Valuation Methods.
Part 5: STRUCTURING FINANCING FOR THE GROWING VENTURE.
12. Professional Venture Capital.
13. Other Financing Alternatives.
14. Security Structures and Determining Enterprise Values.
Part 6: EXIT AND TURNAROUND STRATEGIES.
15. Harvesting the Business Venture Investment.
16. Financially Troubled Ventures: Turnaround Opportunities?
Part 7: CAPSTONE CASES.
Case 1. Eco-Products, Inc.
Case 2. Spatial Technology, Inc.