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BACKGROUND SLIDES ON ENTREPRENEURSHIP
©Professor Barry Unger unger@bu.edu
Updated January 9, 2008
Boston University
CONTENTS:
INTRO –
• The Changing Nature Of Business Competitive Advantage.
• Starting Companies In A World Of Dynamic Technology And Market Innovation Requires Interactive Planning.
PART I -THE BASICS
"ENTREPRENEURSHIP 101"
• The Entrepreneurial Process: A Systems Model.
• “Promoter” Vs Committed Entrepreneur Vs “Trustee/ Manager”: A Continuum On Which To Characterize Entrepreneurial Behavior.
• Various Criteria For A Good Business Opportunity.
• Purposes And Contents Of The Business Plan and Request for Financing.
FINANCE - THE LIFEBLOOD OF A COMPANY.
• Potential Sources Of Cash Flow.
• Bootstrapping: Why And How?
• Bootstrapping Vs Rapid Rollouts - The Pro's And Cons
• Angels And Informal Capital.
• When Are “Venture Capitalists” (Professional Institutional Investors) Right For Your Company?
• Initial Public Offerings (“I.P.O.”) For The Young Company?
• Small Business Innovation Research (S.B.I.R.) Grants — An Important Source Of High Risk Funds In The United States.
• A Realistic Look At Cash Flow Sources For Early Stage Cos. In 2008 – Both Private Venture Capital And Public Offerings May Never Again “Party Like Its 1999.”
• The Implications for Your Business Model And Company Financing Strategy.
PART II – “ENTREPRENEURSHIP 102” – INTEGRATING THE BEST OF TRADITIONAL ENTREPRENEURIAL PRACTICES AND WHAT WAS LEARNED IN THE NEW STYLE INTERNET HIGH TECH HIGH GROWTH COMPANIES. A NEWER MORE SOPHISTICATED WAY.
• The New Companies Must Be "Fast" And Efficient.
• Reduce Inherent Technological And Market Risk By Emphasizing A "Chain Of Credibility And Momentum" (©Unger And McDonald, 1995)
• Emphasize Fast Value Creation Through Shortening Time To Market And Increasing Flexibility Of Response.
• Aggressively Motivating Effective Employees And Teams.
• H.R. Implications:
o Emphasize...