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Ebook Entrepreneurship: successfully launching new ventures – Part 1 includes the following chapters: Chapter 1 introduction to entrepreneurship, chapter 2 recognizing opportunities and generating ideas, chapter 3 feasibility analysis, chapter 4 writing a business plan, chapter 5 industry and competitor analysis, chapter 6 developing an effective business model.
The Entrepreneurial Process Decision to Become an Entrepreneur Introduction to entrepreneurship CHAPTER Developing Successful Developing Successful Business Ideas Business Ideas Recognizing opportunities and generating ideas CHAPTER Feasibility analysis CHAPTER Writing a business plan CHAPTER Industry and competitor analysis CHAPTER Developing an effective business model CHAPTER Passion plus Managing and Growing an Entrepreneurial Firm Moving from an Idea to an Entrepreneurial Firm CHAPTER 11 Unique marketing issues CHAPTER 12 The importance of intellectual property CHAPTER 13 Preparing for and evaluating the challenges of growth Preparing the proper ethical and legal foundation CHAPTER Assessing a new venture’s financial strength and viability CHAPTER CHAPTER 14 Building a newventure team CHAPTER Strategies for firm growth Getting financing or funding CHAPTER 15 Franchising CHAPTER 10 Where a great idea meets a great process Entrepreneurship Successfully Launching New Ventures This page intentionally left blank Entrepreneurship Successfully Launching New Ventures FOURTH EDITION Bruce R Barringer Oklahoma State University R Duane Ireland Texas A&M University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Senior Acquisitions Editor: Kim Norbuta Director of Editorial Services: Ashley Santora Editorial Project Manager: Claudia Fernandes Director of Marketing: Patrice Lumumba Jones Executive Marketing Manager: Maggie Moylan Assistant Marketing Manager: Ian Gold Senior Managing Editor: Judy Leale Production Project Manager: Ann Pulido Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Director of Design: Christy Mahon Creative Art Director: Blair Brown Senior Art Director: Kenny Beck Interior and Cover Designer: LCI Design Cover Art: Pearson Image Photographer, Shayle Keating; Pearson Image Specialist, Corin Skids; Chalkboard background, Shutterstock/leedsn; GIVE water bottle art © 2011 Burton Morris Lead Media Project Manager: Lisa Rinaldi Editorial Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/Bookmasters Composition: Integra Printer/Binder: Quebecor World Color/Versailles Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 10/12 Bookman Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on the appropriate page within text Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A and other countries Screen shots and icons reprinted with permission from the Microsoft Corporation This book is not sponsored or endorsed by or affiliated with the Microsoft Corporation Copyright © 2012, 2010, 2008, 2006 by Pearson Education, Inc., publishing as Prentice Hall All rights reserved Manufactured in the United States of America This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290 Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps Library of Congress Cataloging-in-Publication Data Barringer, Bruce R Entrepreneurship : successfully launching new ventures / Bruce R Barringer, R Duane Ireland.—4th ed p cm Includes bibliographical references and index ISBN 978-0-13-255552-4 Entrepreneurship New business enterprises I Ireland, R Duane II Title HB615.B374 2012 658.1'1—dc23 2011025010 10 ISBN 10: 0-13-255552-2 ISBN 13: 978-0-13-255552-4 DEDICATION To my wife Jan Thanks for your never-ending encouragement and support Without you, this book would have never been possible Also, thanks to all the student entrepreneurs who contributed to the chapter opening features in the book Your stories are both insightful and inspiring —Bruce R Barringer To my family: I am so proud of each of you and so blessed by your perseverance and never-ending love and support I know that sometimes it seems as though “we lose ourselves in work to and bills to pay and that it’s a ride, ride, ride without much cover.” But you are always in my heart, a gift for which I remain deeply grateful — R Duane Ireland This page intentionally left blank BRIEF CONTENTS Preface xvii PART Decision to Become an Entrepreneur CHAPTER Introduction to Entrepreneurship PART Developing Successful Business Ideas 39 CHAPTER CHAPTER CHAPTER CHAPTER CHAPTER Recognizing Opportunities and Generating Ideas 41 Feasibility Analysis 77 Writing a Business Plan 111 Industry and Competitor Analysis 147 Developing an Effective Business Model 179 PART Moving from an Idea to an Entrepreneurial Firm 211 Preparing the Proper Ethical and Legal Foundation 213 CHAPTER Assessing a New Venture’s Financial Strength and Viability 253 CHAPTER Building a New-Venture Team 289 CHAPTER 10 Getting Financing or Funding 319 CHAPTER PART Managing and Growing an Entrepreneurial Firm 355 CHAPTER 11 Unique Marketing Issues CHAPTER 12 CHAPTER 13 CHAPTER 14 CHAPTER 15 Glossary 357 The Importance of Intellectual Property 393 Preparing for and Evaluating the Challenges of Growth 431 Strategies for Firm Growth 461 Franchising 495 535 Name Index 547 Company Index Subject Index 551 557 vii ... New business enterprises I Ireland, R Duane II Title HB 615 .B374 2 012 658 .1'' 1—dc23 2 011 025 010 10 ISBN 10 : 0 -13 -255552-2 ISBN 13 : 978-0 -13 -255552-4 DEDICATION To my wife Jan Thanks for your never-ending... the Plan 11 5 11 6 11 9 11 9 SAVVY ENTREPRENEURIAL FIRM: Know When to Hold Them, Know When to Fold Them 12 0 PARTNERING FOR SUCCESS: Types of Partnerships That Are Common in Business Plans 12 5 WHAT... VC 9 .1 310 | You Be the VC 9.2 311 | CASE 9 .1 311 | CASE 9.2 313 ENDNOTES CHAPTER 10 316 Getting Financing or Funding 319 Opening Profile—INDINERO: Raising Money Carefully and Deliberately 319