(BQ) Part 2 book Essentials of entrepreneurship and small business management has contents: Building a powerful bootstrap marketing plan, managing cash flow, creating a successful financial plan, global aspects of entrepreneurship, choosing the right location and layout,...and other contents.
Find more at http://www.downloadslide.com SECTION III Launching the Business Rawpixel/Shutterstock Building a Powerful Bootstrap Marketing Plan Learning Objectives On completion of this chapter, you will be able to: Describe the principles of building a bootstrap marketing plan, and explain the benefits of preparing one Explain how small businesses can pinpoint their target markets 302 Discuss the role of market research in building a bootstrap marketing plan and outline the market research process Describe how a small business can build a competitive edge in the marketplace using bootstrap marketing strategies Find more at http://www.downloadslide.com CHAPTER • BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN 303 As you learned in Chapters and 5, creating a solid business model and business plan improves an entrepreneur’s odds of building a successful company The business model and business plan are valuable tools that help define whatt an entrepreneur plans to accomplish in both quantitative and qualitative terms and how he or she plans to accomplish it The plan consolidates many of the topics we have discussed in preceding chapters with those in this section to produce a concise statement of how an entrepreneur plans to achieve success in the marketplace This section focuses on building two major components of every business plan: the marketing plan and the financial plan Too many business plans describe in great detail what entrepreneurs intend to accomplish (e.g., “the financials”) and pay little, if any, attention to the strategies to achieve those targets Too often, entrepreneurs squander enormous effort pulling together capital, people, and other resources to sell their products and services because they fail to determine what it will take to attract and keep a profitable customer base Sometimes they fail to determine whether a profitable customer base even exists! To be effective, a solid business plan must contain both a financial plan and d a marketing plan Like the financial plan, an effective marketing plan projects numbers and analyzes them but from a different perspective Rather than focus on cash flow, net income, and owner’s equity, a marketing plan concentrates on the customer This chapter is devoted to creating an effective marketing plan, which is a subset of a total business plan Before producing reams of computer-generated spreadsheets of financial projections, an entrepreneur must determine what to sell, to whom and how, and on what terms and at what price and how to get the product or service to the customer In short, a marketing plan identifies a company’s target customers and describes how that business will attract and keep them Its primary focus is cultivating and maintaining a competitive edge for a small business Table 8.1 explains how to build a seven-sentence bootstrap (also sometimes called “guerrilla”) marketing strategy Building a Bootstrap Marketing Plan Marketing is the process of creating and delivering desired goods and services to customers and involves all of the activities associated with winning and retaining loyal customers The “secret” to successful marketing is to understand what your target customers’ needs, demands, and wants are before your competitors can; to offer them the products and services that will satisfy those needs, demands, and wants; and to provide customer service, convenience, and value so that they will keep coming back The marketing function cuts across the entire company, affecting every aspect of its operation—from finance and production to hiring and purchasing—as well as the company’s ultimate success As competition for customers becomes more intense, entrepreneurs must understand the importance of developing creative marketing strategies Their success and survival depend on it Traditional marketing techniques emphasize pushing messages out to potential customers However, modern technology gives consumers the ability to filter and block many of these messages, limiting the effectiveness of “push” techniques Successful entrepreneurs recognize that modern marketing strategies also must include techniques such as social media and cause marketing that pull customers into their companies’ sphere of influence The good news is that many of these “pull” strategies are relatively inexpensive and, when infused with a healthy dose of creativity, are extremely effective Although they may be small and cannot match their larger rivals’ marketing budgets, entrepreneurial companies are not powerless when it comes to developing effective marketing strategies By using bootstrap marketing strategies—unconventional, low-cost, creative techniques—small companies can wring as much or more “bang” from their marketing bucks For instance, facing the power of discount giants such as Wal-Mart, Target, and “category killer” superstores such as Best Buy and Home Depot that are determined to increase their market shares, small retail shops are turning to bootstrap marketing tactics to attract new customers and to keep existing ones Jay Conrad Levinson, the late guerrilla and bootstrap marketing guru, said bootstrap marketing is all about maximizing the efficiency of a small company’s marketing budget An effective bootstrap marketing campaign does nott require an entrepreneur to spend large amounts of money, but it does demand creativity, ingenuity, and an understanding of customers’ LO1 Describe the principles of building a bootstrap marketing plan, and explain the benefits of preparing one marketing the process of creating and delivering desired goods and services to customers; involves all of the activities associated with winning and retaining loyal customers bootstrap marketing strategies unconventional, lowcost, creative marketing strategies designed to give small companies an edge over their larger, richer, more powerful rivals Find more at http://www.downloadslide.com 304 SECTION III • LAUNCHING THE BUSINESS TABLE 8.1 A Seven-Sentence Bootstrap (Guerrilla) Marketing Strategy Building a successful bootstrap marketing plan does not have to be complex Bootstrap marketing expert Jay Conrad Levinson advised entrepreneurs to create a bootstrap marketing plan with just seven sentences: What is the purpose of your marketing? In other words, what action you want customers or prospective customers to take as a result of your marketing efforts? Should they visit your store? Go to your company’s Web site? Call a toll-free number for more information? What primary benefit can you offer customers? What is your company’s competitive advantage, and what does it for customers? Bootstrap marketers express their companies’ competitive advantage as a solution to a customer’s problem, which is easier to market than just a positive benefit Successful bootstrap marketing requires an entrepreneur to have a clear understanding of a company’s unique selling proposition, a key customer benefit of a product or service that sets it apart from its competition Who is your target market? At whom are you aiming your marketing efforts? Answering this question often requires some basic research about your target customers, their characteristics, their habits, and their preferences Bootstrap marketers know that broadcasting is old school; they realize that narrowcasting—focusing their marketing efforts on those people who are most interested in and are likely to purchase their goods and services—is much more efficient and effective Most small companies have more than one target market; be sure to identify all of them Which marketing tools will you use to reach your target audience? This list should include only those tools your company understands, knows how to use effectively, and can afford The good news is that marketing tools not have to be costly to be effective In fact, bootstrap marketers are experts at using low-cost methods to market their companies What is your company’s niche in the marketplace? How you intend to position your company against your competition? Bootstrap marketers understand that their markets are crowded with competitors, some of them much larger with gigantic marketing budgets that dwarf their own, and that finding a profitable niche to occupy can be highly profitable Recall from Chapter that many successful entrepreneurs position their companies in profitable niches One insurance agent markets his agency as specializing in serving the needs of small businesses It’Sugar, a company founded in 2006 by Jeff Rubin, a veteran of the candy industry, sells many types of candy, ranging from Jelly Belly jelly beans to five-pound Hershey chocolate bars through its Web site and its 70 retail stores Not a typical candy store aimed at children, It’Sugar stores mainly target adults and resemble Victoria’s Secret shops, with mannequins dressed in candy, unique displays, and vibrant colors Like It’Sugar, the key is to carve out a position that allows your company to differentiate itself from all of its competitors What is your company’s identity in the marketplace? A company’s identity is a reflection of its personality, its DNA Small companies often have an advantage over large businesses when it comes to communicating their identities because of the interesting, unique stories behind their creation and the enthusiasm and passion of their founders Customers enjoy doing business with small companies that have a clear, meaningful, and compelling identity in the marketplace Southwest Airlines built its business by attracting customers who were drawn to its fun-loving, somewhat irreverent culture and its reputation for taking care of its customers How much money will you spend on your marketing? What is your marketing budget? Entrepreneurs should decide how much they intend to invest in their marketing efforts, an amount usually expressed as a percentage of sales The average company in the United States devotes 4 percent of its sales revenue to marketing Small companies should allocate a portion of their budget to marketing; after all, it drives sales The good news is that many of the bootstrap marketing techniques that small companies can use (and that are described in this chapter) are either low cost or no cost When allocating their budgets, bootstrap marketers recognize the importance of putting their money where they will get the greatest “bang.” Answering these seven questions will give you an outline of your company’s marketing plan Implementing a bootstrap marketing plan boils down to two essentials: Having a thorough understanding of your target market, including what customers want and expect from your company and its products and services Identifying the obstacles that stand in your way of satisfying customers (competitors, barriers to entry, processes, outside influences, budgets, knowledge, and others) and eliminating them Sources: Based on Jay Conrad Levinson and Jeannie Levinson, “Here’s the Plan,” Entrepreneur, February 2008, pp 92–97; and Alan Lautenslager, “Write a Creative Marketing Plan in Seven Sentences,” Entrepreneur, April 24, 2006, http://www.entrepreneur.com/marketing/marketingideas/guerrillamarketingcolumnistallautenslager/ article159486.html Find more at http://www.downloadslide.com CHAPTER • BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN 305 buying habits Levinson estimated that bootstrap marketers spend between percent and percent of sales on marketing, but they put their money into clever, creative marketing efforts that reach their target customers and raise the profile of their products, services, and companies.1 ENTREPRENEURIAL PROFILE: Kimberly Causey: Home Décor Press After spending ten years working in the wholesale home furnishings industry, Kimberly Causey realized consumers wanted information on home furnishing bargains She took her knowledge of the industry and set out to self-publish a home furnishings buying guide Causey could not afford to get her guide professionally printed, so she made her first run of books in her kitchen She printed the interior pages on her home printer, folded them by hand, and glued them inside professionally printed covers using a glue gun and a butter knife She promoted the books by driving all over the Southeast to appear on local morning television shows Causey used the profits from her homemade books to buy a professionally printed run of books and an RV and began promoting her books across the country She was able to secure a nationwide contract with Barnes & Noble Her story eventually caught the attention of the Today show Her appearance on that show pushed her book to a top 10 title on Amazon Causey continues to promote her books through appearances on both local and national media outlets.2 ■ A sound bootstrap marketing plan reflects a company’s understanding of its customers and acknowledges that satisfying them is the foundation of every business It recognizes that the customer is the central player in the cast of every business venture According to marketing expert Ted Levitt, the primary purpose of a business is not to earn a profit; instead, it is to identify and attract customers If an entrepreneur focuses on this purpose and uses good sense to run the business, profits will follow.3 In other words, profits are the outcome of creating value for your target customers Every area of the business must practice putting the customer first in planning and actions A bootstrap marketing plan should accomplish three objectives: It should pinpoint the specific target markets the small company will serve It should determine customer needs and wants through market research It should analyze the firm’s competitive advantages and build a bootstrap marketing strategy around them to communicate its value proposition to the target market This chapter focuses on these three objectives of the small company’s marketing plan Pinpointing the Target Market One of the first steps in building a bootstrap marketing plan is to identify a small company’s target market—the specific group of customers at whom the company aims its goods or services The more a business knows about its local markets and its customers and their buying habits and preferences, the more precisely it can focus its marketing efforts on the group(s) of customers who are most likely to buy its products or services Most marketing experts contend that the greatest marketing mistake small businesses make is failing to define clearly the target markets they serve These entrepreneurs develop new products that not sell because they are not targeted at a specific audience’s needs They broadcast ads that attempt to reach everyone and end up reaching no one They spend precious time and money trying to reach customers who are not the most profitable, and many of the customers they attract leave because they not know what the company stands for Why, then, so many small companies make this mistake? Because it is easy and does not require market research or a marketing plan! Smart entrepreneurs know they not have the luxury of wasting resources They must follow a more focused, laserlike approach to marketing Entrepreneurs must identify a specific market niche that has a specific need or “pain point” and tailor a solution, be it a product or a service, to address this need As you learned in Chapter 4, an effective value proposition offers a specific solution to a specific market segment “It is amazing how many people assume they know what customers want without actually asking customers,” says Hunter Phillips, CEO, PRSM Healthcare in Nashville, Tennessee “Present it as if you are trying to solve a problem for them Remember, this is about their needs rather than your idea.”4 LO2 Explain how small businesses can pinpoint their target markets target market the specific group of customers at whom a company aims its goods or services Find more at http://www.downloadslide.com SECTION III • LAUNCHING THE BUSINESS To be customer driven, an effective marketing strategy must be based on a clear, comprehensive understanding of a company’s target customers and their needs A customer-driven marketing strategy is a powerful weapon for any company that lacks the financial and physical resources of its competitors Customers respond when companies take the time to learn about their unique needs and offer products and services designed to satisfy them ENTREPRENEURIAL PROFILE: Ron Henry: BlackRapid Ron Henry, a professional photographer for more than fifteen years, never was able to find a camera strap that was both comfortable and designed to make quick shots easier Using parts purchased at a hardware store, Henry constructed a strap that allowed his camera to hang comfortably at his side until he was ready to take a photograph, when it would glide quickly and easily into place Henry borrowed $5,000 from a friend to launch BlackRapid to produce and sell camera straps based on his new design At first Henry bought banner ads at wedding Web sites to promote his camera straps However, that proved to be an expensive strategy that resulted in very few sales Henry changed his strategy to promoting BlackRapid through photography blogs He sent each blogger a free strap hoping that they would spread the word about his product The strategy worked After only four years in business, BlackRapid’s revenues grew to more than $6 million a year.5 ■ Most successful businesses have well-defined portraits of the customers they are seeking to attract From market research, they know their customers’ income levels, lifestyles, buying patterns, likes and dislikes, and even their psychological profiles—why they buy These companies offer prices that are appropriate to their target customers’ buying power, product lines that appeal to their tastes, and service they expect The payoff comes in the form of higher sales, profits, and customer loyalty For entrepreneurs, pinpointing target customers has become more important than ever before as markets in the United States have become increasingly fragmented and diverse Mass marketing techniques no longer reach customers the way they did 30 years ago because of the splintering of the population and the influence exerted on the nation’s purchasing patterns by what were once minority groups such as Hispanic, Asian, and African Americans (see Figure 8.1) Peter Francese, marketing consultant and author of the research report 2010 America, says “the average American” no longer exists.6 The United States is a multicultural nation in 75.0% 70.9 67.3 61.2 Percentage of Total Population 306 48.4 50.0% 25.1 25.0% 14.6 11.7 12.1 3.8 0.0% 17.2 12.5 0.7 0.8 2010 2000 White Hispanic Black 0.7 0.8 0.6 0.7 2020 Asian and Pacific Islander FIGURE 8.1 U.S Population by Race, 2000, 2010, 20120, and 2050 Source: Based on data from the U.S Census Bureau 7.7 5.6 4.8 0.7 0.7 18.1 15.2 American Indian, Eskimo, and Aleut 2050 Other Find more at http://www.downloadslide.com CHAPTER • BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN 307 which no race or ethnicity comprises a majority in its two most populous states, California and Texas In addition, racial and ethnic minorities accounted for 92 percent of the population growth in the United States between 2000 and 2010.7 The U.S Census Bureau predicts that whites will no longer constitute the majority in America by 2043.8 By 2020, baby boomers’ spending will be in decline, the most economically disadvantaged market segments will expand, and household spending will grow at a slow pace, all of which will create a very different world for marketers.9 When companies follow a customer-driven marketing strategy, they ensure that their target customers permeate the entire business—from the merchandise sold and the music played on the sound system to the location, layout, and decor of the store These entrepreneurs have an advantage over their larger rivals because the buying experience they create resonates with their target customers That’s why they prosper ENTREPRENEURIAL PROFILE: Orlin Sorensen and Brett Carlile: Woodinville Whiskey Company The Woodinville Whiskey Company, a microdistillery in Woodinville, Washington, founded by Orlin Sorensen and Brett Carlile, builds relationships with its customers by putting them to work Customers help bottle, label, cork, and case whiskey During the nightly bottling parties, the company gives 16 customers T-shirts, food, and discounts on any whiskey they buy that evening in return for their efforts The bottling parties are posted on the company’s Facebook page, where the listed parties fill up within a few minutes of posting Sorenson says the bottling parties build brand awareness and increase customer loyalty Although it would be less expensive to hire employees to the bottling, the company has no plans to abandon the parties The relationship the company has built with its customers far offsets the higher costs associated with the bottling party method of production.10 ■ Determining Customer Needs and Wants through Market Research The changing nature of the U.S population is a potent force altering the landscape of business Shifting patterns in age, income, education, race, and other population characteristics (which are the subject of demographics) have a major impact on new opportunities in the market and on existing small businesses Entrepreneurs who ignore demographic trends and fail to adjust their strategies accordingly run the risk of becoming competitively obsolete Entrepreneurs who stay in tune with demographic, social, and economic trends are able to spot growing and emerging market opportunities ENTREPRENEURIAL PROFILE: Jennifer Lopez: Viva Móvil Celebrity Jennifer Lopez started the mobile phone reseller, Viva Móvil, to target the growing Latino market In addition to its online store, Viva Móvil operates brick and mortar locations in New York City, Los Angeles, and Miami The stores promise a retail experience that caters to the Latino market Each store has a PlayStation to keep children entertained while their parents shop for new phones and accessories All employees are bilingual, and the stores offer accessories designed by Lopez to go along with the iPhones and Samsung phones offered through a partnership with Verizon.11 ■ A demographic trend is like a train: A business owner must find out early on where it’s going and decide whether to get on board Waiting until the train is roaring down the tracks and gaining speed means it’s too late to get on board However, by checking the schedule early and planning ahead, an entrepreneur may find himself or herself at the train’s controls wearing the engineer’s hat! Similarly, small companies that spot demographic trends early and act on them can gain a distinctive edge in the market An entrepreneur’s goal is to make sure that his or her company’s marketing plan is on track with the most significant trends that are shaping the industry Trend tracking not only keeps a company on the pathway to success but also helps it avoid losing its focus by pursuing opportunities that are out of favor Trends are powerful forces and can be an entrepreneur’s greatest friend or greatest foe For entrepreneurs who are observant and position their companies to intercept them, trends can be to their companies what the perfect wave is to a surfer For entrepreneurs who ignore them or discount their importance, trends can leave their companies stranded like a boat stuck in the mud at low tide LO3 Discuss the role of market research in building a bootstrap marketing plan and outline the market research process demographics the study of important population characteristics, such as age, income, education, race, and others Find more at http://www.downloadslide.com 308 SECTION III • LAUNCHING THE BUSINESS You Be the Consultant CO Internet S.A.S Juan Diego Calle was born into an entrepreneurial family in Bogota, Colombia His parents owned and operated a highly successful wine and beer distribution company Because of political instability in Colombia, his parents became increasingly worried about the safety of their family When he was 15 years old, his parents moved Juan and his siblings to Miami However, his parents chose to stay behind in Colombia to manage the family business In 1998 while in college, Calle studied abroad in France There he became intrigued by the opportunity offered by the Internet When he returned to Miami, Calle launched an Internet-based business that failed when the Internet bubble burst in 2001 However, Calle continued to pursue Internet-related businesses after the failure of his first endeavor He had great success with a business that acquired and developed travel domains that matched keywords, such as New York Hotels and London Hotels While growing his domain name business, Calle recognized that available domain names ending in com extensions were becoming scarce A friend suggested he look into co extension, which was the domain name designation for his native country of Colombia After many false starts, Calle was able to convince the government of Colombia to accept his bid to manage the co extension through his new company called CO Internet S.A.S Calle made the decision to brand the co extension as a place for start-ups to build their Internet presence Calle was able to convince trend-setting tech companies to use the co extension for their Web presence To achieve his goal, he persuaded executives at Twitter to adopt t.co as its shortened URL address in Colombia Calle also sold AngelList, the service for connecting entrepreneurs and angel investors, the domain name Angel.co as its Internet address By associating the co brand with successful ventures such as these, CO Internet helped reinforce its branding efforts as the domain of choice for tech start-ups The company seeks to position its brand as having more value than just a URL address .CO Internet offers all businesses that adopt the co extension “membership,” which includes discounts on books and admission to events and forums to connect with other entrepreneurs To measure the success of its branding efforts, the company conducted a survey after it had been operating for only one year The results indicated that 80 percent of people thought co meant “company,” while only percent identified it with the country of Colombia CO Internet has more than 1.6 million domain names under management in 200 countries, with revenues of more than $21 million In 2014, Neustar, a publicly-traded company specializing in Internet analytics, agreed to purchase CO Internet S.A.S for $109 million Visit the company’s Web site to learn more about the business, the services it offers, and its culture Work with a team of your classmates to develop a list of bootstrap marketing techniques that the company can use to promote its services and its brand around the globe What steps can the company take to enhance its brand and build customer recognition of it? Refer to Figure 8.2 on page 319 (the connection between branding and a unique selling proposition) and use the table below to the following: a List threshold, performance, and excitement attributes for CO Internet S.A.S b Identify “proof points” (reasons for customers to believe in the brand) that support each of the attributes you list c Use the attributes and their proof points to develop a unique selling proposition for CO Internet Threshold Attributes Performance Attributes Excitement Attributes Threshold Proof Points Performance Proof Points Excitement Proof Points Unique selling proposition: Sources: Ron Jackson, “The Juan Diego Calle Story: How the CO CEO Is Turning a Seldom Used ccTLD into a Booming Global Brand,” DN Journal, December 5, 2010, www.dnjournal.com/cover/2010/november-december.htm; Paul Sloan, “.CO Internet is a Company Cool Enough for Brooklyn Hipsters,” CNET, March 13, 2012, www cnet.com/news/co-internet-is-a-company-cool-enough-for-brooklyn-hipsters/; Nancy Dahlberg, “Miami Tech Company CO Internet to be Acquired for $109 Million,” Miami Herald, March 22, 2014, www.miamiherald.com/2014/03/21/4009212/ miami-tech-company-co-internet.html market research the vehicle for gathering the information that serves as the foundation for the marketing plan; it involves systematically collecting, analyzing, and interpreting data pertaining to a company’s market, customers, and competitors The Value of Market Research By performing some basic market research, aspiring entrepreneurs and owners of existing small business can detect key demographic and market trends Marketing consultants argue that information is just as much a business asset as equipment, machinery, and inventory Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan It involves systematically collecting, analyzing, and interpreting data pertaining to a company’s Find more at http://www.downloadslide.com CHAPTER • BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN market, customers, and competitors The objective of market research is to learn how to improve the level of satisfaction for existing customers and to find ways to attract new customers Small companies cannot afford to make marketing mistakes because there is little margin for error when funds are scarce and budgets are tight Small businesses simply cannot afford to miss their target markets, and market research can help them zero in on the bull’s-eye Market research does nott have to be time consuming, complex, or expensive to be useful By applying the same type of creativity to market research that they display when creating their businesses, entrepreneurs can perform effective market research “on the cheap.” ENTREPRENEURIAL PROFILE: John Lusk: Rivet & Sway Before John Lusk launched the designer eyewear company, Rivet & Sway, he and his team spent evenings and weekends conducting market research They were seeking to identify specific problems that women have when they shop for eyewear The founding team went through industry reports; interviewed opticians, optometrists, and eyewear boutique owners; conducted surveys of the many people they had all built up in their personal social and professional networks; conducted bootstrap focus groups; and engaged in extensive competitive research The company’s budget for all of the market research was less than $5,000, with most of that being spent on buying a high quality industry report.12 ■ Established companies also can conduct market research on the cheap Ron Shaich, founder of Panera Bread, a chain of bakery cafés with 1,185 locations in 40 states, still visits stores regularly, where he works the cash registers and serves customers so that he can listen to their ideas and concerns.13 Hands-on market research techniques such as these allow entrepreneurs to get past the barriers that consumers often put up and to uncover their true preferences and hidden thoughts Many entrepreneurs are discovering the power, the speed, the convenience, and the low cost of conducting market research over the Internet Online surveys, customer opinion polls, and other research projects are easy to conduct, cost virtually nothing, and help companies to connect with their customers With online surveys, businesses can get real-time feedback from customers, often using surveys they have designed themselves Web sites such as Survey Monkey and Zoomerang allow entrepreneurs to conduct low-cost (sometimes free) online surveys of existing or prospective customers Many companies are using social media sites such as Facebook and Twitter as market research tools Entrepreneurs can use surveys and social media to gain insight into the market that used to require hiring a marketing research consultant ENTREPRENEURIAL PROFILE: Luca Daniel Lavorato and Mario Christian: Joseph Nogucci Joseph Nogucci, an online jewelry store and manufacturer founded by Luca Daniel Lavorato and Mario Christian, uses Facebook to generate customer reactions to new product offerings The company gauges customer interest in new designs before it puts them into production The customer feedback also helps the company determine how much inventory to carry and what demographic to target market with each of its new product offerings In addition to promoting and managing inventory for new products, the company posts inspirational stories from customers on its Facebook fan page to build customer loyalty Joseph Nogucci has 75,000 Facebook fans and devotes 80 percent of its marketing budget to Facebook The company also connects with customers through Twitter, Instagram, and other social media.14 ■ Faith Popcorn, a marketing consultant, encourages small business owners to be their own “trend-tracking sleuths.” Merely by observing their customers’ attitudes and actions, small business owners can shift their product lines and services to meet changing tastes in the market To spot significant trends, Popcorn suggests the following:15 ● Read as many current publications as possible, especially ones you normally would not read ● Watch the top 10 television shows because they are indicators of consumers’ attitudes and values and what they’re going to be buying ● See the top 10 movies They also influence consumer behavior, from language to fashion ● Talk to at least 150 customers a year Make a conscious effort to spend time with some of your target customers, preferably in an informal setting, to find out what they are thinking 309 Find more at http://www.downloadslide.com 310 SECTION III • LAUNCHING THE BUSINESS Start by asking them two important questions: “Will you buy from us again?” and “Will you recommend us to your friends?” ● Talk with the 10 smartest people you know They can offer valuable insights and fresh perspectives you may not have considered ● Listen to your children or younger siblings Next, entrepreneurs should make a list of the major trends they spot and should briefly describe how well their products or services match these trends Companies whose products or services are diverging from major social, demographic, and economic trends rather than converging with them must change their course or run the risk of failing because their markets can evaporate before their eyes How can entrepreneurs find the right match among trends, their products or services, and the appropriate target markets? Market research! How to Conduct Market Research The goal of market research is to reduce the risks associated with making business decisions For the entrepreneur, there is no bigger decision than the one to start or not start a new business Market research can replace misinformation and assumptions with facts Opinion and hearsay are not viable foundations on which to build a solid marketing strategy Remember, this is a key aspect of developing a sound business model (see Chapter 4) Successful market research consists of four steps: define the problem, collect the data, analyze and interpret the data, and draw conclusions, including how you may need to pivot your business model Step Define the objective The first—and most crucial—step in market research is to define the research objective clearly and concisely For a new business, the objective is to test the assumptions made while developing the business model For an existing business, the objective is to better understand changes occurring in its business or in its market A common error at this stage is to confuse a symptom with the true problem For example, dwindling sales is not a problem; it is a symptom To get to the heart of the matter, entrepreneurs must list all the possible factors that could have caused it Do we face new competition? Are our sales representatives impolite or unknowledgeable? Have customer tastes changed? Is our product line too narrow? Do customers have trouble finding what they want? Is our Web site giving customers what they want? Is it easy to navigate? individualized (one-to-one) marketing a system based on gathering data on individual customers and developing a marketing program designed to appeal specifically to their needs, tastes, and preferences Step Collect the data The marketing approach that dominates today is individualized (one-to-one) marketing, which involves gathering data on individual customers and then developing a marketing program designed specifically to appeal to their needs, tastes, and preferences In a society in which people feel so isolated and interactions are so impersonal, one-to-one marketing gives a business a competitive edge Companies following this approach know their customers, understand how to give them the value they want, and, perhaps most important, know how to make them feel special and valued The idea is to treat each customer as an individual, and the goal is to transform a company’s best and most profitable customers into loyal, lifetime customers Individualized marketing requires business owners to gather and assimilate detailed information about their customers Fortunately, owners of even the smallest companies now have access to affordable technology that creates and manages computerized databases, allowing them to develop close, one-to-one relationships with their customers Much like gold nuggets waiting to be discovered, significant amounts of valuable information about customers and their buying habits are hidden inside many small businesses, tucked away in computerized databases For most business owners, collecting useful information about their customers and potential new products and markets is simply a matter of sorting and organizing data that are already floating around somewhere in their companies The key is to mine the data that most companies have at their disposal and turn them into useful information that allows the company to “court” its customers with special products, services, ads, and offers that appeal most to them How can entrepreneurs gather valuable market and Find more at http://www.downloadslide.com CHAPTER • BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN customer information? Two basic methods are available: conducting primary research, data you collect and analyze yourself, and gathering secondary research, data that have already been compiled and that are available, often at a reasonable cost or even free Primary research techniques include the following: ● Customer surveys and questionnaires Keep them short Word your questions carefully so that you not bias the results and use a simple ranking system (e.g., a 1-to-5 scale, with 1 representing “unacceptable” and representing “excellent”) Test your survey for problems on a small number of people before putting it to use Online surveys are inexpensive, are easy to conduct, and provide feedback fast VerticalResponse, a self-service marketing firm for small businesses, regularly sends out e-mail surveys to its customers Because the company relies on word-of-mouth for much of its new business, knowing what its customers like and don’t like about how they are doing business and the products it offers is critical to adding new customers.16 ● Focus groups Enlist a small number of customers to give you feedback on specific issues in your business—quality, convenience, hours of operation, service, and so on Listen carefully for new marketing opportunities as customers or potential customers tell you what is on their minds Once again, consider using the Internet; one small bicycle company conducts 10 online focus groups each year at virtually no cost and gains valuable marketing information from them ● Social media conversations and monitoring With social media, companies have the opportunity to engage in direct conversations with their customers In addition, monitoring social media for comments about a business and its products or services can provide useful feedback from customers Many companies use the Google Alerts feature of the leading search engine to track and receive e-mail updates whenever someone writes about their brands online Most social networking sites, including Facebook and Twitter, offer search features that allow users to track what people are saying about a company and its products or services Shari’s Berries ships more than million gourmet berries every Valentine’s Day When the weather forecast showed that a major snow storm would be sweeping across the country on Valentine’s Day, the company proactively e-mailed customers and sent messages on Twitter warning of delivery delays As the storm hit, the company monitored Facebook and Twitter, responding to every customer who posted comments Although there was quite a bit of negative chatter in social media about the company when the storm first hit, within four days positive comments significantly outnumbered negative comments throughout social media.17 ● Test market One of the best ways to gauge customer response to a new product or service is to set up a test market When Smooth Fitness launched its new unobtrusive, low-cost exercise bicycle designed for aging baby boomers, the company test-marketed the new product on QVC The company sold 33,000 bikes in one day on QVC, which convinced its managers that the new product would be successful.18 ● Daily transactions Sift as much data as possible from existing company records and daily transactions—customer warranty cards, personal checks, frequent-buyer clubs, credit applications, and others ● Other ideas Set up a suggestion system (for customers and employees) and use it Establish a customer advisory panel to determine how well your company is meeting needs Talk with suppliers about trends they have spotted in the industry Contact customers who have not bought anything in a long time and find out why Contact people who are not customers and find out why Teach employees to be good listeners and then ask them what they hear Secondary research, which is usually less expensive to collect than primary data, includes the following sources: ● Business directories To locate a trade association, use Business Information Sources (University of California Press) or the Encyclopedia of Associations (Gale Research) To find suppliers, use the Thomas Register of American Manufacturers (Thomas Publishing 311 Find more at http://www.downloadslide.com Name Index A AAMCO Transmissions, 270, 273, 275 Aaron’s, 269, 286 Abbruzzese, Mia, 614 Abdullah, Muhammad, 529 Abrams, Rhonda, 151, 204, 261 Abt, David, 193 Abt, Jewel, 193 Abt, Jon, 194 Abt Electronics, 193–194 Academy of Art University, 559 Accenture, 40 AccessoryGeeks, 347 Accion, 504 AcuPOLL Research, 518 Adafruit Industries, 40 Adamowski, Craig, 356 Adamowski, Tiffany, 356 Adeyoola, Tom, 119 Adkins, Jason, 67, 68 Adobe, 97, 118, 552 Advani, Aman, 49 A&E, 702 Affordable Homes of South Texas, 75 Affordablekiosks.com, 52 After Feel Golf, 550 Agar, John, 87 Aguilera, Christina, 138 Aguinaldo, Lydia, 535 Aikens, Judson, 171 Albertsons, 403 Aldi, 576 Alison, Richard, 599 Aloompa, 159, 618 AlphaLab, 53 Alphey, Luke, 691 Al’s Famous Filled Bagels, 672 Alstin, Terese, 102 Altshuller, Genrich, 132 Amabile, Teresa, 105, 106 Amarasiriwardena, Gihan, 49 Amazon.com, 36, 97, 116, 126, 135, 217, 305, 330, 352, 399, 441, 502, 506, 512, 513 AMD, 393 Amenta, Tom, 355 American Association of Franchisees and Dealers, 286 American Bankers Association, 521 American Collectors Association, 478, 479 American Express, 35 American Express OPEN Small Business Monitor, 459 American Lawn, 595 American Management Association, 66 American Red Cross, 92 American Safety Razor Company, 107 Americare Pharmacy, 501 Amish Backyard Structures, 405 AmoeBAND, 97 Amoruso, Sophia, 42 Amundsen, Roald, 629 Anderson, Amy Rees, 634, 635 Anderson, Chris, 217 Anderson, Erin, 504 Anderson, Rebecca, 569 Andikian, John, 296 Andre, Eric, 295 Andruss, Paula, 637 Andy’s Market, 296 Angel Capital Association, 508 Angel Investor Group, 499 Angel Investors, 499 AngelList, 504, 508 Animal Refuge League of Greater Portland, 650 Anjolie Ayurveda, 526 Ankeny, Jason, 324 Annett, Cec, 657 Ann Taylor, 582 Ansel, Dominique, 125 Anything Coral, 33 706 Aon Hewitt, 649 Apax Partners, 435, 510 Apple, 36, 61, 98, 116, 118, 152, 233, 328, 401, 408, 506, 509, 530, 551, 582 Apple Inc., 390–391 Apple Pay, 375 Apple Stores, 317 Arabian Tent Company, 468 Aragon, Britta, 43 Arby’s, 270, 292, 317 Archambault, Roy, 596 Archilochus, 629, 630 ARCiPLEX, 501, 609 Aristotle, 63 Arkansas Department of Public Health, 91 Arntzenius, Linda, 436 Aron, Carey, 601 Aron, John, 601 Arora, Rohit, 471 Artsy, 507 Ashoka, 76 Aspect Development, 24 Aspire Beverages, 157 Association of Certified Fraud Examiners, 492, 493, 494 Astor Place Theater, 455 AT&T, 417 AT&T Small Business Lending, 528 Auburn Leather Company, 606 Au Grande Richelieu Boulangerie, 558 August Capital, 510 August Kitchen, 214 Auto City, 519 Automobile Film Club of America, 523 AutoTrader Group, 342 Avenue Bank, 204 Avery-Smothers, Ella, 292 Avery-Smothers, Ronald, 292 Axelton, Karen, 646 B B W Burdette and Sons, 257 Babesta, 438 Babson College, 255, 281, 293 Badger, Scott, 36 Badger Mining Corporation, 200, 653 Bad Newz BBQ, 18 Baheerathan, Sunith, 89 Bain Capital, 512 Baker, Calli, 29 Baker, Sherry, 68 Bakers Square, 437 Balboa Capital, 273 Baltimore Ravens, 702 Baltimore Sun, 435 Baltimore Symphony Orchestra, 702 Banana Republic, 620 Band-aid, 97 Banker, Joseph, 578 Bankers Association for Foreign TradeInternational Finance Services, 605 Bank of America, 24, 643, 658 Barber, Jerry, 126 Barbour, 99 Barefoot Cellars, 316 Barlyn, Suzanne, 106, 234 Barnes & Noble, 305, 317, 330, 576 Barr, Ryan, 27 Barrett, Amy, 50, 471 Barrett, Andrea, 109 Barrett, Deirdre, 127 Barton, Kimberly, 650 Batteries Plus Bulbs, 218 Battle Los Angeles, 121 Bauer, Marty, 47 Bay, Sami, 38 BBBOnline, 348, 357, 378 BBQ Guys, 324 Beachbody, 324 Beatles, 577 Beatty, Richard, 219 Becker, Brian, 219 Beesley, Caron, 503 Bell, Alexander Graham, 506 Bell, Gavin, 295 Bell, Lisa Nicole, 324 Bell Labs, 112 Bell Telephone, 506 Ben and Jerry’s, 75 Benham, David, 243 Benham, Jason, 243 Benham Companies, 243 Ben & Jerry’s, 270 Bennett, Julie, 294 Bennis, Warren, 98 Ben Sherman, 99 Bensonwood Homes, 585 Beresford, Lynn, 314 Bergland, Mark, 395 Bergman, Ingrid, 402 Berkshire Hathaway, 63 Berlin, Isaiah, 629, 630 Berliner, Uri, 294 Berman, Kallinis, 31 Berns, Gregory, 107 Berry, Halle, 138 Bessemer Venture Partners, 512 Best Buy, 172, 303, 392 Best Western Southwest, 126 Better Business Bureau, 359 BetterWeb, 378 Beyoncé, 138 Beyond Right Now Technologies, 506 Bezos, Jackie, 502 Bezos, Jeff, 36, 97, 126, 129, 399, 502, 506 Bezos, Mike, 502 Bhidé, Amar, 26 Bi, Fan, 352 Bianchi, Allessandra, 615 Bibber and Bell Wine and Spirits, 555 Bigelow, Robert, 118 Bigelow Aerospace, 118 Bigelow Expandable Activity Module (BEAM), 118 Bigler, Ollie, 380 Big O Tire, 269 Big Spaceship, 580 Big Train, 672 Bilanich, Bud, 641 Binding Legacies, 234 Bing, 366 Birdhouse on the Greenway, 560 Birg, Ziver, 52 BizBuySell, 254, 258 Bizbuysell.com, 257 BizFilings, 140, 249 BizMiner, 428, 447, 450, 469 Bizquest, 257 Bizstats, 447 Biz2Credit, 535 Blackboard, Inc., 639 Black Entertainment Television, 36 BlackRapid, 306 Blackwell, Pamela, 651 Blackwell Consulting Service, 651 Blado, Alan, 29 Blain, Bert, 395 Blain, Claude, 395 Blain Supply, 395 BLAK, 569 BLAKCHAOS, 569 Blanchard, Ken, 198, 201 Blandino, Stephen, 630 Blank Label, 352 Blazing Onion Burger Company, 207 Blendtec, 316 Blogger, 325 Bloomsbury, 122 Blowin’ in the Wind, 564 Blue, Gabrielle M., 657 Blue Chair Bay Rum, 513 Blue Men, 455 Bluestein, Adam, 50 Blumenthal, Neil, 389 Bluming, Jill, 574 BMW, 513, 571 BNP Paribas Bank, 322 Boatbound, 105 Bodine, Kerry, 317 Body Shop, 506 Bogart, Humphrey, 402 Bolsta, Phil, 594 Bombardier Inc., 546 Bongo World, 200 Bonnaroo Music and Arts Festival, 159, 618 Bonney, Tom, 633, 634 Bonobos, 99, 640, 645 Boomer Pizza LLC, 274 Boost Business Support, 481 Border7 Studios, 240 Bosker, Bianca, 89 Boulder Center for Sports Medicine, 594 Boulevard Tire Center, 478 Bounds, Gwendolyn, 471 Bowen, Susan, 473 Bowerman, Bill, 111 Bowie, David, 577 Bowles, Mark, 119 Box, Ron, 471 Box, Thomas M., 204 Boxed, 512 Box.net, 647 Boyer, E J., 705 Brady, Tom, 36 Branches Atelier, 535 Brandau, Mark, 324 BrandCity LLC, 297–298 Brandon, Andrea P., 87 Brands, Robert F., 106 Branson, Holly, 659 Branson, Richard, 49, 628, 659 Bravo, Tony, 559 Bray, Chad, 138 Bregman, Peter, 640 Bregman Partners, 640 Brenckle, Lara, 317 Brenda Marrero & Associates, 527 Brendan’s Irish Pub, 316 Brennan, Tony, 124 Briggs, John, 348 Brigham Young University (BYU), 546 BrightHouse Luxury Green Home Cleaning, 67, 68 BrightLocal, 337 BrightStar, 289 Bright-Star Franchising LLC, 273 Brill, Wilson, 126 Brin, Sergey, 98, 500 British Council for Offices, 576 Broadcast.com, 27 Brock, Terry, 211 Brodsky, Norm, 204, 218, 393, 396, 426, 445, 462, 472 Brody-Waite, Michael, 705 Brooks, Chad, 204 Brown, Andrew, 363 Brown, Mark, 403 Brown, Mike, 50 Brown, S., 704 Browning, Donna, 121 Browning, Tom, 348 Bruland, Laura, 559 Bruton, Alex, 149 Bryant, Sandi, 501 Bryden, Rich, 554 Buchanan, Leigh, 667 Buckingham, Marcus, 629 Buffalo Wild Wings Grill and Bar, 293, 395 Buffet, Warren, 63 Buie-Jackson, Carol, 560 Build-A-Bear Workshop, 530 Bujkovsky, Brina, 638 Bukhara Grill, 517 Bukhov, George, 167 Buoniconti, Nick, 198 Burchfield, Drew, 159 Find more at http://www.downloadslide.com NAME INDEX Bureau of Labor Statistics, 34, 52, 546, 635, 651 Burger King, 270, 271, 281, 292, 396, 558 Burger & Lobster, 167 Burke, John, 604 Burlingham, Bo, 630 Burns, Amy Clarke, 32 Burns, Crosby, 650 Burnstein von Seelen, 635 Burson-Marsteller and Landor, 77 Burton, Jake, 55 Burton Snowboards, 55 Burt’s Bees, 316 Bush, Alan, 253 Bush, Chuck, 253, 254 Business Model Fiddle, 168 Business Resources Software, 181 Business Software Alliance, 142 Butterfield, Sewart, 46 Buzan, Tony, 131 Byron, Ellen, 204 Byun, David, 347 Byus, Kent, 204 C C C Filson, 584 C Wonder, 353 Cabela’s, 558, 560, 576 Cachon, Jean-Charles, 204 Cacio e Vino, 404 Caffey, Andrew A., 282 Caggiano, Christopher, 111 Cain, Markys, 128 Calamunci, John, 541 Calamunci, Tony, 541 California Tortilla, 323 Callaway Golf, 522, 530 Calle, Juan Diego, 308 Callum-Penso, Lillia, 32 Calvillo, Bobby, 75 Calvin Klein Inc (CKI), 138 Campbell, Anita, 615 Campbell, Danny, 276 Campbell, Glen, 103 Camp Twin Lake, 315 Canaan Partners, 510 Canabou, Christine, 111 Canada Goose, 136, 137 Canadian Franchise Association, 286 Caneum, 477 Canoe and Kayak Rental, 184 Cantinflas Mexican, 44 Capital Access Programs (CAPs), 533 CAPLine Program, 526 Carafello, Greg, 560 CareerBuilder, 635, 644, 645, 646 Cargill, 655 CarGurus, 336, 634 Carhartt, 655 Carhartt, Hamilton, 655 Caribou Coffee, 675 CarInsurance.com, 155 Carlisle Development Group, 237 Carl’s Jr., 554 Carlyle Group, 65, 66 Carnegie Mellon University, 24 Carolina Honey Bee Company, 30 Carroll, Archie B., 64 Carter, Casey, 239 Carter, N., 165 Cartier, 554 Cartoon Network, 108 Cartridge World, 560 Carvel, 291, 298 Casablanca, 402 Casaburi, Eric, 215 Case Western Reserve University, 554 Cask and Larder, 563 Cassiday, George, 368 Castro, Fidel, 616 Catapult Systems, 478, 489 Cathy, Dan, 661 Cathy, Truett, 661 Cattail Ridge Family Market, 35 Cattaui, Jennifer, 438 Causey, Kimberly, 305 CCH, 447 CellAntenna Corporation, 614, 615 Cengage Learning, 435 Center for Entrepreneurship, University of California, Davis, 123 Centers for Disease Control and Prevention, 91 Central Market, 508 Century Personnel, 492 Cerejo, Lyndon, 376 Challenger, Gray, and Christmas, 47 Champion Awards, 473 Change.org, 691 Chaos & Harmony, 569 Chaplin, Heather, 503 Chapul, 162 Character Eyes, 233 Chatalog, 337, 355 Chauhan, Bhavesh, 116 Chautin, Jerry, 287 Chavel, George, 80 Chegg, 170 Chenault, Ken, 178 Cheng, Maria, 691 Cheng-Yu, Tsai, 97 The Cheshire Cat, 637 Chevrolet, 267 Chew, Tony, 600 Chicago Bulls, 239 Chicago Children’s Choir, 75 Chicago Tribune, 435 Chick-fil-A, 661 Chieng, Chieh, 282 Child, Julia, 53 Chili’s, 206 Chilon, 62 Chipotle Mexican Grill, 53, 55 Chitika Insights, 365 Chobani, 546 Chock Full ‘o Nuts, 675 Choice Translating, 314 Christensen, Dave, 645 Christian, Mario, 309 Christian Louboutin (CL), 138 Christopher, Doris, 398 Christopher Newport University, 193 Chu, Jennifer, 246 Chu, Kathy, 142 Chun, Janean, 314 Chung, Ray, 704 Chu Shu, 246 Ciccone, Alicia, 690 CiCi’s Pizza, 274 Cigar City Brewing, 163 Cinco Vidas SkinLabs, 43 Cinnabon, 291, 297, 298, 558, 578 Cisco Systems, 89, 241, 434, 513 Citigroup Global Markets, 515 CitiStorage, 393, 426 Citrus Lane, 211 CKE Restaurants, 554 Claeys, Charles F., 256 Claremont McKenna College, 550 Clark, Craig, 403 Clark Construction Group, 643 Classic Graphics, 521 Cleaning for a Reason Foundation, 68 ClearRisk, 313 Cleary, Chip, 541 Cleese, John, 114 Clem, Dennis, 522 Clementi, Dominica, 556 Clemson University International Center for Automotive Research, 571 Clem’s Service Station, 522 Cleveland, Carter, 507 ClifBar, 654 Clifford, Stephanie, 399 Cloud Store, 402 The Clymb, 200, 657 CMF Associates, 633 CNN, 97 Coach, 567, 576 CoatChex, 40 Coca-Cola, 29, 267, 672 Coffee, Peter, 403 Cohen, Heidi, 324 CO Internet, 308 Coldwater Creek, 620 Colera, Johnny, 541 Colera, Minnie, 541 Colicchio, Tom, 237 College Hunks Hauling Junk, 242 Collegiate Entrepreneurs Organization, 40, 53 Collins, Jim, 212, 629, 630 Combs, Sean “Diddy,” 582 Comcast, 513 Comfe Designs, 102 Commercial Law League of America, 471 Commercial News USA, 597, 603 Commission of Architecture and the Built Environment, 576 Common Ground, 75 Community Advantage Loans, 526 Community Development Block Grants (CDBGs), 531 Computer Security Institute, 381 comScore, 358 Comstock, Sherri, 637 Conley, Mike, 364 Consign Werks, 22 Constant Contact, 379 Constantine, Mark, 350 Constantine, Mo, 350 Consumers Energy, 86 Cooke, Raymond, 387 CoolPeopleCare, 703–704 Coombes, Andrea, 503 Cooper, Matt, 184, 185 Cooper, Robert, 99 Copernicus, 590 Corcoran, Barbara, 648, 655 The Corcoran Group, 648, 655 Corea, Reynolds, 289 Corkery, Michael, 484 Cornell, Andrew, 659 Cornell Iron Works, 659 Cornell University, 400 Cornwall, Jeff, 123, 165, 173, 704 Coronado Surfing Academy, 470 Costco, 403, 512, 530 Cost Xpert Group, 24 Cotton, Barry, 204 Coupon Chief, 371 Couri, Chris, 265 Covey, Stephen, 626 Covington, Katie, 211 CQuotient, 369 Cracker Barrel, 206 Craigslist, 33, 170, 218, 488 Crawford, Jon, 559 Crawford, Kit, 654 Creative Dental Care, 578 Creative Type, 574 Credit Union National Association, 530 Cree, Inc., 107 Creed, Greg, 114 Crème Brûlée Man, 322 Cronut, 125 Crowdvance, 193 Crowley, Patrick, 162 Crowther, Janet, 211 Crutchfield, Bill, 331 CryptPro, 239, 240 Cuban, Mark, 27, 40, 247, 248 Cubby’s Child Care Center, 525 Culinary Institute of America, 53 Culver’s, 277, 278 Cummings, John, 463 Curdes, Tom, 274 Curl Up & Dye, 233 Curtis, Dean, 128 Curves, 280 CustomInk, 645 Custora, 364 Cutter and Buck, 530 CVM Companies, 665 Cyclehoop, 44 D Dachtler, Kelly, 657 Daguerre, Louis, 119 Dahl, Darren, 234, 251 Dahlberg, Nancy, 106, 308, 690 The Daily Perc (TDP), 668–689 Daily Press, 435 Dairy Queen Corporation, 63 Dale Rogers Training Center, 75 Daley, Jason, 41, 294 Dallas BBQ, 392 Dallas Mavericks, 27, 248 Dance, Scott, 702 Daniel, Russell, 92 Daniel Ellsworth & The Great Lakes, 504 Daniel Enterprises, Inc., 92 Danziger, Pamela, 317 Darrow, Tom, 265 Dartmouth College, 49 Dashfire LLC, 488 Dassow, Diane, 234 Davenport, Carrie, 492 Davidson, Sam, 703 da Vinci, Leonardo, 120 Davis, Betty, 42 Davis, Grant, 403 Davis, Hil, 398 707 Davis, Holly, 398 Davis, Kathleen, 211 Davis, Paul, 106 Davison, George, 115 Davison Design and Development, 115 Dawson, Anita, 455 Day in the Life, Inc., 27 Dean, James, 239 DeBolt, Don, 266, 298 Deb Shops, 361 DeCastro, Olivia, 47 Decorating Dens Interiors, 534 Decorus Academy, 479 DeGennaro, Steven F., 509 Delight, Co., 79 Dell, Inc., 49, 551, 557, 653 Dell, Michael, 49 Delligatti, Jim, 280 Deloitte, 386, 412, 413, 636 Delphion’s Research Intellectual Property Network, 135 Del Taco, 270 DeLuca, Bryan, 348 de Mestral, Georges, 109 Dempsey, Thomas, 141 Denny’s, 292 DePinto, Joe, 627 Depp, Johnny, 118 DesMarais, Christina, 155 Dess, Gregory, 214 Detamore-Rodman, Crystal, 521 Detroit Lions, 702 DevDigital, 608 Development Dimensions International, 633 DHL, 352 Diageo Beverages, 598 Diana Classic Children, 47 Dickey, Cindy, 404 Dickson, Earl, 97 Dickson, Tom, 316 Di Lullo, Ken, 115 Di Lullo, Roni, 115, 116 Dinosaur Ridge, 126, 127 Discovery Channel, 552 Disney, 49, 390, 552 Disney, Roy, 541 Disney, Walt, 49, 52, 541, 542, 626 Disneyland, 541 Disney World, 170, 541, 542 Divurgent Healthcare Advisors, 313 Dixer, Hillary, 89 Do, 334 Doblin Group, 117 Doggles, 115, 116 Dolce and Gabbana, 21 Dolgoff, Ben, 171 Dollar General, 215 Dollar Shave Club, 211 Dollar Tree, 215 Domino’s Pizza, 271, 272, 273, 276, 295, 337, 569, 599 Donahue, Mike, 276 Don Bugito, 162 Don’t Call me Ma’am, 505 Door Number 3, 114 Doral Bank, 76, 77 Doral Financial Corporation, 76 Dorian Drake International, 595 Dorsey, Tommy, 103 Dos Caminos, 446 Dotcom-Monitor, 352 Dougherty, Sarah, 503 Douglas, Terry, 545 Dover, Tim, 30 Dow Chemical, 513 Dowell, Ted, 294 Downs, Daisy, 109 Doyle, Mark, 494 Drake, Jordan, 519 Drayton, Bill, 76 Dream Dinners, 565 Drenkard, Scott, 549 Drexel Building Supply, 332 Driscoll, Mike, 645 Dropbox, 170 Drucker, Peter, 97 DryCorp, 596 Dubin, Michael, 211 Duck Dynasty, 108 Ductz, 276 Dun & Bradstreet, 210, 428, 435, 447, 478 Duncan, Katherine, 123 Dunford, Naomi, 318 Dunis, Nancy, 482 Find more at http://www.downloadslide.com 708 NAME INDEX Dunis & Associates, 482 Dunkelberg, William, 391 Dunkin’ Donuts, 569, 675 Dunn, Andy, 640, 645 Dunnhumby, 330 Dupray, Charlene, 558 Dwolla, 417 Dyer, J Nicole, 111 Dyson, James, 52, 103 E Earth Fare, 508 Eastern Airlines, 506 Eastern Industries, 83 Eatwhatever, 523 eBay, 25, 42, 44, 217 Eclipse Aerospace, 547 EcoATM, 119, 120 Economic Development Administration (EDA), 530–531 Edelman, 65 Eden, Joe, 444, 450 Eden, Kaitlin, 444, 445, 450 Eden’s Garden, 444–445, 450 Edison, Shelley, 444, 445, 450 Edison, Thomas, 52, 107, 123, 135, 331 E! Entertainment, 552 Effland, Janet, 510 EGG-energy, 76 Eggs Up Grill, 555 Ehlert, Christine, 404 Eileen Fisher, 647 Einstein, Albert, 111, 436 Einstein Bros Bagels, 323 Elgin, Jeff, 287 Ellingson, Tom, 128 Ellis, Kim, 287 Ells, Steve, 53, 55 Ellsworth, Dan, 504 Elting, Elizabeth, 32 EMC, 595 Emerson Process Management, 556 Eminem, 233 Emma, 234 Emmett, Barb, 317 Endocyte, 125 Engelmeier, Shirley, 80 ENGEO, 630, 654, 655 English, David, 611, 612 ENK International, 690 Enright, Allison, 380 Enron, 69, 515 Entertainment Tonight, 33 Entrepreneur, 47, 286 Entrepreneur Week, 34 Envirosell, 577 EPC Cigar, 204 Equal Employment Opportunity Commission (EEOC), 81, 83, 86, 643 Equifax, 478 Erickson, Gary, 654 Ernst & Young, 30, 32 Esnault, Claude, 558 ESPN, 40, 552 Esposito, Mario, 26 Etheridge, Melissa, 103 Etsy, 316, 655, 656, 657 European Center of Innovative Textiles, 97 Evans, Michael, 611 Everitt, Lisa, 641 The Everyday Gourmet, 418 Ex-Im Bank, 605, 606, 614, 615 Experian, 478 Export Express Program, 524, 526, 605 Export.gov, 597 Export-U.com, 597 Export Working Capital (EWC) Program, 524, 526, 527, 605, 614 Express Oil Change, 269, 270, 274 ExxonMobil, 267 Eyink, Cheri, 413 Eyler, David R., 87 EZConserve, 498 F Facebook, 36, 40, 49, 61, 88, 89, 109, 190, 271, 309, 311, 313, 316, 319, 321, 322, 323, 324, 325, 326, 346, 353, 354, 355, 356, 360, 361, 363, 373, 379, 405, 499, 505, 514, 573, 610, 635, 636, 644, 646, 663, 677, 678 Fagan, Lawrence, 277 Fairbrothers, Gregg, 49 Fairlie, Robert W., 24, 43, 48 Fair Oaks Farms, 336 Faith, Mike, 398 Fake, Caterina, 46 Falkowski, Brendan, 362 Falle, Martin, 365 Families and Work Institute, 652 Family Dollar, 215 Fandeavor, 128 Fanminder, 323 Fard, Sam, 470 Farnham, Alan, 201 Farsi, Mehdi, 346 Farsi, Reza, 346 Father and Son Pizzeria, 694 Fat Wallet, 637 Federal Express, 352, 500, 530 Federal Reserve, 183 Federal Trade Commission (FTC), 90, 281, 447 Federation of International Trade Associations (FITA), 597, 609 FedEx, 509 FedEx Office, 170 FeedVisor, 403 Feld, Brad, 508 Felder, Larry, 127 Feldman, Amy, 484 Fenn, Donna, 123, 243, 403 Ferdowsi, Arash, 170 Ferguson, Eric, 346 Ferguson, Sara, 636 Ferguson-Riffe, Tina, 533 Fernandes, Claudia, 700 Ferrandi, Dianne, 594 Fields, Debbi, 49 Field Trip Factory Inc., 200 Findell, Elizabeth, 75 Finley Mauria, 211 Firehouse Bar & Grill, 29 Firehouse Subs, 29 Firer, Oleg, 26 Firestein, Aaron, 488 First Round Capital, 512 Fischer-Baum, Reuben, 549 FIS Group, 74 Fisher, Anne, 294 Fisher, Eileen, 647 Fisher, Greg, 638 Fisher, Jerry, 333 Fisher, Roger, 260 Fish Flops, 32, 33 Fitbit, 185–186 Fitzgerald, Chris, 170 Five Guys Burgers and Fries, 207, 279, 398, 688 Flagg, Steve, 554 Fleishman, Joel, 332 Fleiss, Jenny, 21 Fleming, Alexander, 97 Flickr, 46 Florida Keys Environmental Coalition, 691 Florist Gump, 233 FLO (thinkery), 513 Fock, Henry K Y., 426 Focus Brands, 291, 298 Fogg, B J., 359 Fogliasso, Chris, 204 Foiled Cupcakes, 323 Food and Drug Administration (FDA), 97, 99, 162 Food Network, 494 Foot Cardigan, 348, 349 Forbes, 31, 32, 476 Ford, Henry, 122 Ford Motor Company, 122, 267, 655 Forever 21, 118 Forrester Research, 349 Forster, Paul, 547 Forsythe, AJ, 25 For the Makers, 211 Fortune, 249, 636, 654 Fortune 500 companies, 24, 37, 44, 45 Foster, Tom, 399 Foundry Group, 508 Four Amigos Travel, Inc., 84 Four Seasons Hotels and Resorts, 328 FourSquare, 361 Fox, Dylan, 193 Francese, Peter, 306 Franchise Direct, 278 Franchise Registry, 273 FranChoice, 285 FranConnect, 286 FRANdata, 272, 273, 280 Frangos, Alex, 484 Frankel, Stuart, 280 Fraser, Jill Andresky, 440 Fraunhofer Institute for Integrated Circuits, 107 Fred’s, 215 Freeman, Crista, 508 Freemon, Stan, 555 Free2Be, 321 FremantleMedia Ltd., 113 French Open Tennis Tournament, 322 Fresh Direct, 508 Frey, Chuck, 111 Fried, Jason, 117 Fried, Limor, 40 Friedman, Eric, 185 Friedman, Nick, 242 Fry, Matt, 348 Fulbright, Robert, 563 Fulton, Robert, 135 Fundable.com, 505 Fundation, 535 Fuzzy’s Taco Shop, 253 G Gabeler, Cary, 526 Gabeler, Meryl, 526 Gafni, Izhar, 118, 119 Gage, David, 238 Gallagher, Carolyn, 611 Gallup, 33, 35 Gannon, Drew, 657 Ganong Brothers, 606 Gant, 99 Gantz, Sarah, 702 Gap store, 317 Garage, 116 Garcia, Lorena, 117 Gardein, 276 Gardella, Adriana, 696 Gardner, Susan, 30 Garland, John, 594 Gartner Group, 352 Gashkevich, Alex, 286 Gates, Bill, 36, 49 Gates, Dirk I., 509 Gatto, Tim, 265 Gazzola, John, 244 GE Capital, 489 GE Capital Small Business Finance, 528 Geller, Paul, 354 Gemcor II, LLC, 530 Gemvara, 342, 367 Genentech, 509 General Electric, 121, 122, 194, 513 General Motors, 155 General Services Administration, 581 Gensler, 572, 573 Georgetown Cupcake, 31 Georgetown University, 517 George Washington University, 181, 193 Gerler, Dan, 349 Gersh, Lewis, 507 Gerson, Keith, 286 GEWOS Chair, 107, 108 Giant supermarket, 335 Gilboa, David, 389 Gillette, 107, 406 Gillette, King, 107, 406 Gillman, Steve, 111 Gilmour, David, 25 Gioia, Nello, 564, 565 Giovanetti, Tom, 142 Gish, Jake, 506 Gladwell, Malcolm, 27 Glass, Lewis & Co., 89 Glazer’s Camera, 405 Global Connections, 276 GlobalEDGE, 605 Global Entrepreneurship Monitor (GEM), 19, 76, 499, 500, 502, 510 Global Student Entrepreneur Awards, 50 Gloria Jeans, 673, 675 Go Big Network, 24 Go Daddy, 234, 370 Goddard School, 269 Godfrey’s Welcome to Dogdom, 317 Gold, Michael, 625 Golden Corral, 272 Golden Spiral Creative, 445 Goldsmith, Samantha, 265 Goldstein, Jeff, 518 Goleman, Daniel, 630 Goltz, Jay, 463 Gomez, Alexander, 24 Gonzalez, Alex, 337, 355 Gonzalez, J., 704 Good Housekeeping Seal of Approval, 357, 378 Good Intents, 470 Goodner, Sam, 478, 489 Google, 61, 98, 114, 135, 155, 233, 271, 311, 318, 346, 351, 364, 365, 366, 367, 371, 378, 500, 506, 509, 513, 548, 550, 643, 653 Google AdWords, 366, 367, 376 Google Analytics, 376 Google Checkout, 375 Google Fiber, 548, 550 Google+Local, 361 Google Ventures, 513 Google Wallet, 417 Gordon, Zach, 690 Goslin, Roy, 594 Gould, David, 362 Goulson, George, 541 Gourmet Garage, 508 Governors State University, 605 Grabow, Robert, 70, 71 Graf, Damien, 555 Granite Rock Company, 90 Grassia, John, 269, 270, 274 Great Harvest Bread Company, 560 Greene, Jim, 609 Greenleaf, Clint, 548 Greenleaf, Robert, 630 Greenleaf Book Group, 548 GreenPrint Technologies, 607 Greenspan, Jason, 153 Greer, Matthew, 237 Gregersen, Hal, 114 Grensing-Pophal, Lin, 333 Greycroft Ventures, 512 Greylock Partners, 512 Griffin, Cynthia E., 314 Griff Paper and Film, 220 Griggs-Steele Empowerment Zone, 532 Gross, Bob, 662 Gross, Daniel, 211 Grossman, John, 523, 693, 694 Group One Safety and Security, 632 Growler Station, 31 Gruen, Victor, 565 Grunhagen, Marko, 280 gSchool, 334 GSI Commerce, 627 Guardian Life Small Business Research Institute, 42 Gulri, Gurpreet, 599 Gulri, Manpreet, 599 Gulvik, Jen, 323 Gurley, Bill, 402, 403 Gutierrez, Stephanie, 321 Gymboree, 530 H H J Heinz Company, 460 Häagen-Dazs, 297 Haarlander, Tom, 501, 609 Habitat for Humanity, 65 Hackett, Greg, 205 Hagerty, James R., 581 Haines, Angela, 696 Hale, Logan, 488 Hall, Aaron, 105 Hall, Doug, 111 Haller, Matt, 294 Hamburg-Coplan, Jill, 484 Hamburger University, 270 Hamel, Gary, 194, 647 Hamilton, Alexander, 615 Hamilton, Brian, 483 Hamilton, Hayden, 607 Hamilton, Jodi, 565 Hamilton, Ned, 353 Hamm, Jamey, 258 Hammond, Larkin, 31 Hammond, Mark, 31 Hand, Ann, 119 Handyman Matters, 277 Hanfree, 505 Hanger, Windsor, 40 Hangers Cleaners, 203 Hanks, Douglas, 693 Hao-Ming, Hsu, 97 Harari, Oren, 211 Hardee’s, 554 Find more at http://www.downloadslide.com NAME INDEX Hardig, Kali, 91 Harding, Lawrence, 593 Hargadon, Andrew, 123 Harpo Productions, 36 Harrington, Mike, 194 Harris, Dean, 418 Harris, Marcia, 418 Harris Interactive, 322, 326 Harry, Colleen, 556 Harry Potter and the Philosopher’s Stone, 122 Harten, David, 91 Hartford Courant, 435 Hartsfield-Jackson International Airport, 562 Harvard Business Review, 631 Harvard Business School, 155 Harvard University, 74 Harvey, Bonnie, 316 Haupt, Anna, 102 Hawkins, Quinn, 116 Hay, Ron, 50 Hayes, Jack L., 494 Hayes, Richard, 386 Haynes, William, 603 Headsets, 398 Heapsylon, 26 Heartwood Studios, 117 Hecht, Olivier, 277 Helmer, Jodi, 41 Helmer, Lalia, 77 Henchman, Joseph, 549 Henderson, Joshua, 394 Hendrick, Doug, 416 Henricks, Mark, 282 Henry, Ron, 306 Henrybuilt, 105 HerCampus, 40 Herrington, Aaron, 581 Heschong Mahone Group, 578 Hettinger, Bill, 422 Hewlett-Packard, 116 Hickey, Kit, 49 High Street Partners, 593 High Tech Connect, 241 Hillfresh Laundry, 37 Hills, Gerry, 40 Hilton, Bridget, 65 Hines, William, 508 Hinshaw, Drew, 295 HireBetter, 490 Hirons, Tom, 665 Hirons & Company, 665 Hirschmann, David, 142 Hirshberg, Gary, 35 Hirshberg, Meg, 35 Hixon, Todd, 505 Hodges, Jane, 581 Hodges, Teresa, 569 Hoffman, Reid, 512 Hofman, Mike, 667 Hogan, Kevin, 289 Holewa, Paula, 317 Holian, Janet, 342 Holland, Joel, 41 Holloway, James, 505 Holly, Krisztina, 97 Holmes, Bryan, 363 Holtz, Diane, 580 Holtzclaw, Eric, 120 Home Décor Press, 305 Home Depot, 303, 509 Hoodz, 276 Hoosier Coat Check, 40 HootSuite Media, 363 Hope Development Corporation, 532 Horvath, David, 47 Houlihan, Michael, 316 Houlihan’s Restaurants, 323 Houshi Ryokan, 658 Houston, Drew, 170 Hövding, 102 Howard, Cory, 138 Howell, Allison, 380 Howlett, Lisa, 606 Hoyt Hanvey Jewelers, 335 Hsieh, Tony, 33, 108, 128, 641 HTC, 390 Huang, Chieh, 512 Huawei, 391 HubSport, 324 Hudson, Katherine, 468 Hudson, Scott, 105 Hudson Bread, 489 Huffington, Arianna, 110 Huffington Post, 110 Hughes, Michael, 50 Hull, Patrick, 199 Human Capital Institute, 551 Hunt, Andrew, 389 Hunt, Taylor, 239 Huntington Learning Center, 290 Huselid, Mark, 219 Hutchen, Wesley, 425 Hyman, Jennifer, 21 I IBM, 172, 241, 551, 633 iCracked, 25 Ideal Printers, 656 The Idea Village, 179 Ideo Inc., 130, 133 Idols, 113 IHOP, 562 Immedion, 54 Impact Engine, 65 Impact Investors, 499 Inc., 22, 23, 24, 28, 31, 40, 112, 116, 286, 500 InclusionINC, 80 Incyte Group, 345 Indian Institute of Technology, 24 Indian River Investments of Miami, Inc., 237 IndieGoGo, 504 iNecklace, 40 Infusionsoft, 193 Ingles, 403 In-N-Out, 207 InnovationLabs, 100 Innowattech, 128 InPhonic, 22, 23 InQuicker, 705 Inspa Corporation, 491 Instagram, 40, 326, 354, 360, 363 Institute for the Future, 218 Institute for the Study of Labor, 32 Integrated Project Management, 653–654 Intel Corporation, 393, 500, 509, 513, 522, 530 Internal Revenue Service (IRS), 235, 447, 503, 661 International Association of Amusement Parks and Attractions, 541 International Business Brokers Association, 257 International Chamber of Commerce, 134 International Cocoa Organization, 697 International Council of Shopping Centers, 566 International Finance Corporation, 605 International Franchise Association, 265, 266, 267, 268, 272, 273, 280, 286, 291–292, 294, 297, 298 International Health, Racquet, and Sportsclub Association, 276 International Space Station (ISS), 118 International Trade Administration, 597, 600, 605 International Trade Commission, 604, 612, 613 International Trade Program, 527, 605 Internet Corporation for Assigned Names and Numbers, 370 InterSchola, 93 InterWest, 510 Intrepid Sportswear, 70 Intuit, 218, 651 Inventionland, 115 Invodo, 372 iPad, 25, 157, 233, 317, 347, 399, 401, 408 iPhone, 25, 233, 636 iPod, 25, 38, 347 It’Sugar, 304 IttyBiz, 318 iTunes, 118, 152, 217 Itzy Bitzy Ritzy Shop, 418 Iversen, Scott, 405 J J Crew, 369, 620 J Hilburn, 398 J M Smucker Company, 135, 660 Jackass, 133 Jack from Brooklyn, 27 Jack in the Box, 296 Jackson, Jay, 560 Jackson, Ron, 308 Jack Spade, 99 Jack’s Soap, 65 Jacobus Energy, 477 Jaffe, Larry, 662 Jaffe and Gross, 662 James, Ivey, 697, 699, 700 James, LeBron, 36 James, Telford, 697 James, William, 567 James Confectioners, 697–701 The Jam, 577 Jantsch, John, 615 Jarboe, Kathleen Johnston, 494 Jaridly, Sid, 489 Jay H Baker Retailing Initiative, 326 Jazzercise, 277 Jazz Impact, 625 Jeffery, Chris, 208 Jeffries, Courtney, 324 Jelly Belly Candy Company, 352 Jenkins, Holman W., Jr., 155 Jennings, Lisa, 277 Jessup, John, 243 Jimenez, Daniel, 50 Jimmy Beans Wool, 486, 695 Jimmy Choo, 554 Joas, Jen, 570 Jobs, Steve, 36, 98, 233, 331 Jobvite, 635, 638 Joe Design Inc., 129 Joe Money Machinery, 471 Johanson, Mark, 91 Johansson, Scarlett, 138 Johnny Rockets, 295 Johnny’s Lunch, 541, 542 Johns Hopkins University, 702 Johnson, Andrew, 465 Johnson, Annie, 705 Johnson, Dylan, 654 Johnson, Robert, 36 Johnson & Johnson, 513 Jones, Ashby, 138 Jones, Blake, 60 Jones, Bohnne, 534 Jones, Caleb, 618 Jones, David, 207 Jones, Jeanne Lang, 559 Jones, Kent, 19 Jones, Scott, 121, 133 Jordan, Michael, 51 Jorgovan, Jake, 173 Joseph Nogucci, 309 Josephson, Michael, 72 Joyner, April, 106 Jubilant FoodWorks Limited, 599 Julig, Louise, 321 Juma Ventures, 75 JumpStart Foundry, 506 Jumptap, 358 Junior Achievement, 92 K Kahan, Rony, 547 Kahn, Barry, 402 Kaman, Charles, 103 Kaman Aircraft Company, 103 Kao, John, 112, 115 Kaplan, Corey, 407 Kaplan, Rebecca, 405 Kaplan, Rob, 74 Kaplan, Stephanie, 40 Kappos, David, 37 Karmaloop, 634 Karp, Eric, 281, 293 Kassar, Ami, 182, 183 Katz, Mark, 645 Katzman, Denise, 403 Kauffman Foundation, 18, 41, 43, 48, 500, 509, 535, 536 Kaufman, Ben, 41, 122, 123 Kaufman, David, 281 Kavilanz, Parija, 162 Kawasaki, Guy, 185, 191, 459 Keating, Raymond J., 548 KeepTruckin, 513 KEF, 387 Kehrer, Dan, 471 Keimach, AmyLynn, 240 Keith, Kent, 630 Kelley, Christopher, 18 Kelly, Mervin, 112 Kelly, Scott, 78 Kelly-Green, Edith, 292 Kelvin Natural Slush, 416 Kemp, Hill, 153 Kennedy, John F., 88 Kent State University, 554 Kentucky Derby, 156, 206 Kerby, Sophia, 650 Kerr, Graham, 53 Kerr, Millie, 50 Kesling, Ben, 581 Kettering, Charles F., 110 KFC, 279, 292, 294, 295, 598 KFC Vietnam (KFCV), 600 Khan, Ansar, 249 Khazan, Olga, 690 Kia, 571 Kibitz Room, 570 Kickstarter, 504, 505, 559 Kim, Kyung Hee, 104 Kim, Larry, 236 Kim, Ryan, 211 Kim, Sun-Min, 47 Kim, Wan, 297 Kimball, Curtis, 322 Kindle Fire, 399 King, Martin Luther, Jr., 198 Kingsley-Hughes, Adrian, 408 Kinko’s, 170, 506 Kiser-Block, Lori, 269, 285 KissMetrics, 351 Kiva, 504 Klein, Gary, 127 Klein, Karen E., 505 Kleinworth, Gina, 490 Klien, Phillip, 345 Knitowski, Alan, 433, 434, 483, 552 KnowX, 478 Ko, Vincent, 690 Kohl’s, 407 Kohn, Daniel, 344 Koji, David, 380 Kolodziej, Mark, 489 Komen, Greg, 297 Komen, Rich, 297 KonaRed, 120 Kopelman, Steve, 470 Kopp, E C., 436 Kopp’s Cycle, 436 Kouri, Dick, 25 KPI Direct, 36 KPMG, 155, 463 KPMG Integrity Survey, 69 Kraus, Cheryl, 531 Kraus, Stephen, 531 Krauss Craft, Inc., 533 Krispy Kreme, 276 Kroc, Ray, 198, 542 Kroger, 195, 403 Kuhn, Charlie, 436 Kuhnau, Steve, 297 Kulikowski, Laurie, 277 Kumzelman, April, 637 Kunkel, John, 579 Kurtzig, Andy, 39 Kuyper, Scott, 608 Kvinta, Paul, 503 Kwik Fit, 371 L L L Bean, 375 Lackman, Ari, 405 Laddering Works, 120 Lady Circus, 248 LaFontaine, Francine, 293 Lagera, Luke, 690 Laja, Peep, 363 Lakhani, Karim, 113 Lam, Michelle, 37 Lambert, Leslee, 25 LaMontagne, Sophie, 31 Landers, Luke, 503 Land of Nod, 355 Landor, 234 Largent, Kelly, 348 La Rinascente Pasta, 532 Latin American Youth Center, 75 Lau, Anthony, 44 The Launch Pad, 49 Lauzon, Matt, 367 LaVida Massage, 271 Lavorato, Luca Daniel, 309 Laya, Patricia, 243 Leamon, Christopher, 125 Leamon, Erik, 359 Lee, Anna, 559 Lee, Jessica, 44 709 Find more at http://www.downloadslide.com 710 NAME INDEX Leegin, 406 Lefebure, Jake, 368 Lefebure, Pum, 368 LeFever, Steve, 461 Leffler, Ido, 399 Legacy Business Group, 529 LegalZoom, 249, 500 Leigh Rothschild Entrepreneurship Competition, 242 LeMond, Greg, 436 Lending Club, 535 Lennon, John, 103 Lenny’s Sub Shop, 292 Lenovo, 391 Lerner, Scott, 642 Leslie, Mark, 625 Lester’s, 404 Level Ventures, 24 Levere, Jane, 204 Levie, Aaron, 647 Levin, Brian, 98 Levinson, Jay Conrad, 303, 304, 305, 314 Levinson, Jeannie, 304 Levitt, Ted, 97 Lev-Ram, Michael, 581 Lewison, Dale M., 583 Lexis/Nexis, 447 Lexus, 155, 267, 333 LG, 390 Liberty Coaster Company, 46 Library of Congress, 142 Lidsky, David, 111 Lifetime Network, 702 Lime Fresh Mexican Grill, 579 Lin, Lee, 22 Lindblad Expeditions, 641 LinkedIn, 190, 319, 320, 323, 324, 346, 354, 361, 363, 499, 512, 514, 635, 636, 644 Liquid Crystal Institute, 554 Liquid Descent, 29 Lister, Kate, 521 Little, Tony, 33 Little White Chapel, 334 Litvan, Laura M., 333 Ljung, Alexander, 401 L&N Products, 672 Loan Finder, 535 Logosz, Jeff, 614 Logosz, Tony, 614 Lollicup USA, 545 Long John Silver, 295 Lopez, Jennifer, 307 Los Angeles Times, 435 Los Angeles Unified School District, 477 Loten, Angus, 106 Louisiana Caviar Company, 604 Louisville International Airport, 562 Louis Vuitton, 554 Lowe, Michael, 368 Lowell, Bret, 297 Lowe’s, 576 Luangrath, Mari, 323 Lubarsky, Max, 65, 66 Lubin, Fran, 269 Lucash, Jason, 106, 195 Lucci, Ralph, 523 Lulumon Athletica, 138 Lundstrom, Julia, 519 Lundstrom, Russell, 519 Lush Fresh Handmade Cosmetics, 350, 351 Lusk, John, 309 LYFE Kitchen, 276, 277 Lynch, Jonni, 572 Lynn, Jacquelyn, 201 Lyons, Tom, 276 M Maaco Auto Painting and Bodyworks, 266 Macagno, Maurizio, 26 Machin, Alex, 78 MacKenzie, Angus, 111 Macy, R H., 52 Macy’s, 33 Madden, Kevin, 632 Magnificent Baby, 39 Maier, Matthew, 204, 403 MailChimp, 357 Makani, Shoaib, 513 Malarney, Jim, 479 Malik, Hamad, 621 Mall of America, 568 Maltby, Emily, 106, 234, 294, 521 Mancini, Daniel, 569 Mandelbaum, Robb, 436 Mangalindan, J P., 408 ManpowerGroup, 632 Manta, 48 Marc Jacobs, 118 Marco’s Pizza, 274, 293 Marcum, Peter, 608 Mares, Justin, 53, 54 Maritime Parc, 442 Markels, Alex, 503 Markoff, Katrina, 400 Markowitz, Eric, 505 Marks, Gene, 106 Marn, Michael V., 413 Marotz, 24 Marrero, Brenda, 527 Marrero, Victor, 138 Marrone, Jason, 352 Mars, 655 Marshall, Frank, 101 Martin, Anthony, 25 Martin, Claire, 50 Martin, Greg, 187 Martin, Kip, 349 Martin, Rick, 559 Martinez, Douglas, 475, 476 Martinez, Monica, 162 Mashable, 325, 326 Mask, Clate, 193 Massachusetts Institute of Technology, 49, 107 Matheson, Martti, 293 Mathews, Merrill, Jr., 142 Matt, Jeff, 321 Matthews, Jessica, 29 Maxim Super Bowl, 40 May, John, 499 Maze, Jonathan, 277 McAfee, 241, 348, 357, 380 McCabe, Caitlin, 329, 556 McCann, Chris, 633 McClard, Matt, 348 McClinton, Gregory Lee, 85 McCraw, Alan, 257 McCraw, Art, 257 McCrea, Bridget, 399 McDonald’s, 90, 198, 270, 271, 274, 279, 280, 281, 292, 295, 296, 393, 395, 396, 542, 569, 688 McGrath, Jim, 535 McGrath, Patricia, 535 McIntosh, Frank, 387 McIntosh Labs, 387 McKay, Harvey, 33 McKee, Steve, 397 McKee Wallwork Cleveland Advertising, 397 McKinsey and Company, 208, 397, 412, 636, 650 McLain, Hillary, 75 McManus, Teevan, 470 McMenamin, Ian, 33 McNaughton, Patrick, 120 McPhee, Chris, 127 McPhee, Kella, 127 McPhee, Lynn, 503 McQuigge, Michelle, 89 McWilliams, Gary, 204 Mead, Nick, 471 Meatball Obsession, 569 M-Edge Accessories, 23 MediConnect Global, 634, 635 Medoff, Don, 124 Meece, Mickey, 314 Mehrotra, Ajay K., 403 Melamed, Howard, 614 Mell, Matthew, 195 Melloan, Jim, 521 Mendez, Jesus, 77 Menlo Innovations, 640 Mental Health Foundation, 121 Mercedes Benz, 571 Merle Norman Cosmetics, 404 Merrick, Amy, 204 Merrill Lynch, 515 META Group, 349 Metail, 119 Metal Mafia, 330 MetLife, 653 Metro Community Investment (Minneapolis), 75 Meyer, Nick, 65 MGM, 29 Miami Heat, 239 Miami Project to Cure Paralysis, 198 Michalowicz, Mike, 640 Michels, Spencer, 162 Michener, James, 99 Microloan Program, 525 Microsoft Corporation, 36, 37, 49, 61, 116, 365, 408, 500, 509, 643, 653 Microsoft Excel, 465 MicroSolutions, 27 Middleby Marshall, 120 The Milk Truck, 89, 334 Miller, Aaron, 293 Miller, Lee, 550 Miller, Warren D., 204 Mills, Kathy, 28 Mills, Mike, 690 Ministry of Supply (MoS), 49 Minnesota Investment Fund, 556 Minnesota Timberwolves, 239 MinorityFran, 291 MintyBoost, 40 Mintzer, Rich, 471 Mish, Patrick, 23 Miyazaki, Kumiko, 459 Mobley, Frank, 54 Mochari, Ilan, 111 ModBargains.com, 50 Moe’s Southwest Grill, 291 Mohajer, Keyvan, 122, 123 Mohammed, Rafi, 389 Mohinani, Ashok, 295 Molvig, Dianne, 294 Monster, 635 Montague, John, 157 Montalvo, Rosalinda, 44 Montalvo, Ruben, 44 Montgomery, Mark, 513 Mood Media, 577 Mooney, Lisa, 77 Mophie, 41 Moran, Gwen, 123, 314, 426 Morgan & Milo, 614 Moritani, 609 Moritz, Michael, 500 Morlando, Jo-Ann, 556 Morning Call, 435 Morris, Kelly, 493, 494 Morris, Langdon, 100 Morris, Tia, 342 Morrison, Taylor, 158 Morrison Museum of Natural History, 126, 127 Morton Williams, 508 Moseley, Stephen, 703 Moss, Cliff, 603 Moss, Stephen C., 413 Mothers Against Drunk Drivers, 321 Moukheiber, Zina, 705 Mount, Ian, 615 Mr Lube, 89 Mrs Fields Cookies, 49 mShopper, 362 Muller, M P., 114 Multifunding, 182–183, 535 Mulvaney, Kevin, 255 Murdock, Steve H., 650 Murphy, Kent, 128 Murrell, Jerry, 207, 279 Musick, Janine Latus, 480 Muthomi, Eric, 20 MyCorporation, 249 Mycoskie, Blake, 690 Myers, John, 568 Mystery Jets, 577 N Nahman, Chris, 295 Namasté Solar, 60 Nando’s, 295 Napoletano, Erika, 481 NASA, 532 NASCAR, 483, 552 Nashville Predators, 62 Nasty Gal, 42 National Advisory Council for Innovation and Entrepreneurship, 97 National Association of Colleges and Employers, 635 National Association of Credit Management, 478 National Association of Retail Grocers, 447 National Association of Trade Exchanges, 488 National Basketball Association (NBA), 27, 239 National Coffee Association, 674 National Commission for Employment Policy, 632 National Customs Brokers and Freight Forwarders Association of America, 606 National Cyber Security Alliance, 381 National Federation of Independent Businesses (NFIB), 422, 441, 461, 477, 498 National Football League (NFL), 24, 105, 106, 483 National Hockey League (NHL), 62 National Institutes of Health (NIH), 695 National Labor Relations Board (NLRB), 89 National Science Foundation (NSF), 532 National Security Administration (NSA), 61 National Small Business Association, 344, 378, 517 National Specialty Coffee Association, 674 National Venture Capital Association, 511 National Zoo, 65 Navia, Hamel, 124, 125, 126, 128, 129 NBC, 29 Needleman, Sarah E., 106 Neeley Entrepreneurship Center, 192 Nelson, Kurt, 159 Nelton, Sharon, 201 Nemani, Raaj, 488 Neoteric Hovercraft Golf Cart, 170 The Nerdery, 634 Ness Computing, 636 Nestlé Toll House Café, 298 Netflix, 328 NetMarket, 344 Netscape, 509 Network Solutions, 370 Neurowear, 110 New Columbia Distillers, 368 Newell, Gabe, 194 Newmark Grubb Knight Frank, 274 New Pig, 369 New Wave Surgical, 24 New York University, 32 NextDigest, 633 Nickelodeon Universe, 568 Nickerson, William, 107 Nicole Miller, 21 Niecpe, Joseph, 119 Nielsen Marketplace, 544 Nike, 111 99 Bottles, 356 99 Cents Only, 215, 216 Nisolo Shoes, 65, 200 Nissan, 155 Nissan of Manhattan, 342 Noble, Pamela, 648 Noble-Davis Consulting, 648, 650 Nokia, 390 Nolan, John Patrick, 260 Nolen, Ken, 603 Nona’s Sweets, 556 Noodles & Company, 196–197 Nordstrom, 33, 576 Nornberg, Vanessa Merit, 330 Norris, Joanna, 465 Northeast Council of Governments Development Corporation, 531 The North Face, 594 Northwest Energy Efficiency Alliance, 498 Northwest Tennessee Entrepreneur Center, 506 Norton, 357 Nottingham, John, 130 Nottingham Spirk, 130 NSI Communications, 672 Nugget Market, 656 Null, Christopher, 484 Nuvar Incorporated, 608 NYC Bagel Deli, 407 O Oak Environmental, 425 Oak Ridge National Research Laboratory (ORNL), 506, 545 O’Connor, Brendan, 89 O’Dell, Nancy, 33 Office Depot Small Business, 380 Office of International Trade, 597 Ohikuare, Judith, 204 Ohngren, Kara, 123, 702 OK! Magazine, 40 Find more at http://www.downloadslide.com NAME INDEX O’Leary, James, 249 Olson, Troy, 324 Omholt, David, 292 O’Neill, Danny, 394 OnlineShoes.com, 349 Openshaw, Jennifer, 287 OpenTable, 581 Opperman, Joshua, 218 Oracle, 351 Orb Audio, 154 Orchid Boutique, 535 OrderUp, 208 Oregon Business Development Fund (OBDF), 533 Orfalea, Paul, 170 Organization for Economic Development and Cooperation, 545 Orgill, Stuart, 547 OrigAudio, 106, 195 Original Mr Cabinet Care, 489 Orlando Sentinel, 435 Orma, Stephanie, 581 Orseno, Joseph, 665 Orseno, Michael, 665 Ortuzar, Sisha, 237 Orwell, George, 88 Osawa, Yoshitaka, 459 Osburn, Denise, 314 Osterwalder, A., 166 OtterBox, 657 Outback Steakhouse, 522 Outdoor Group LLC, 548 Ovation Instruments, 103 Overseas Private Investment Corporation, 605 Overturf, Mike, 368 Owens-Corning, 29, 138 OWN, 36 Oxitec, 691 Oyarzun, Terri, 483 P P F Chang, 567 Pacific Bioscience Laboratories, 316 Pacific Place, 559 Pacqué, Derek, 40 Pactrans Air & Sea, Inc., 605 Page, Heather, 314 Page, Jimmy, 103 Page, Larry, 98, 500 Paley, Eric, 25 Palmisciano, Nick, 355 Palo Alto Software, 181 Paltrow, Gwyneth, 138 Pampered Chef, 398 Panda Sunglasses, 690 Pandora, 152 Panera Bread, 309, 333, 576, 577, 578, 672, 674, 675 Panosyn, Stepan, 297 Papa John’s Pizza, 271, 273, 274, 286 Papa Murphy’s Pizza, 75 Parago, 386 Parish, Neil, 570 Paris Opera, 119 Park, James, 185 Park, Missy, 648 Parker, Eric, 295 Parker, Jesse, 157 Parker, Patrick, 509 Parrott, Mark, 350 Parry, Mark, 446 Parsons, Larry, 489 Parsons, Rob, 293 Party Palace, 568 Pasanen, Melissa, 294 Pasin, Antonio, 46 Pasin, Mario, 46 Pasin, Robert, 46, 114 Pasta Shoppe, 601 Patterson, Kermit, 294 Pattison, Kermit, 324 Pauling, Linus, 130 Pavegen Systems, 129 Pavlish, Craig, 31 Paylocity, 543 PayPal, 172, 233, 375 PBS Digital, 114 Pearl.com, 39 Pelindaba Lavender, 551 Pendlebury, Laura, 479 Pennington, April Y., 282 Penn Schoen Berland, 77 Pepperdine University, 437 Pepsi Cola, 267 Perales, Guillermo, 270, 272 Perch, Jerry, 269 Perez-Carrillo, Ernesto, Jr., 204 Perkins, Lynn, 109 Perky Jerky, 98 Per Se, 405 Petco, 116 Peter and Morton’s Steakhouse, 363 Peter Glenn Ski and Sport, 353 Peters, Stefan, 204 Petra Group, 449 Petrakis, James, 563 Petrakis, Julie, 563 Petrecca, Laura, 243 Pet Supermarket, 580 Pew Internet and American Life Project, 358, 361 Pfeffer, Jeffrey, 581 Pfeifer, Colleen, 531 Pfeifer, John, 531 Phelps, Michael, 36 Phelps, Ron, 478 Philadelphia Eagles, 105 Phillips, Debra, 314 Phillips, Hunter, 305 Phillips, Neil, 630 Philly Pretzel Factory, 298 Phinn, Alex, 220 Phin & Phebes Ice Cream, 508 Phumbhra, Aayush, 170 Phunware, 433–434, 483, 552 Picken, Joseph, 214 Pie Bird Sweet and Savory, 572 Piedmont Technical College, 635 Pierce, Fenner & Smith, 515 Pierce, Sarah, 471 Pigneur, Y., 166 Pig Punisher, 506 Pines Home Health Care Services, 535 Pinhole Press, 204 Pinterest, 346, 354, 363, 372, 373 Piombino, Kristin, 380, 638 Pita Pan, 233 Pitney-Bowes, 541 Pittman, Kristen Valle, 521 Pitts, David, 521 Pizza Fusion, 288 Pizza Hut, 292, 294, 598 Pizza Ranch, 204 PJ’s Coffee, 207, 672 Planet of the Grapes, 233 Plank, Kevin, 36 PlayWorks, 108 Pledge Music, 504 Plummer, Daryl, 352 Pofeldt, Elaine, 479 Poland, Albert, 455 Popcorn, Faith, 309 Popeyes Louisiana Kitchen, 293 Popkin, Helen A S., 89 Population Reference Bureau, 543, 544 Porras, Jerry, 212 Porter, Michael A., 154, 156, 215 Postgraduate Center for Mental Health (NYC), 75 Post-It note, 98 Powell’s Books, 330 Power Solutions for Business, 181 Powwownow, 465–466 Pretty Ugly, 47 Price, Buzz, 541 Price, Kenny, 635 PriceWaterhouseCoopers, 45, 341, 509, 511, 659 Prince, Russ Alan, 32 PR Newswire, 210 Procellera, 97 Process Barron, 603 Procter and Gamble, 107, 203, 477 Proferes, Bill, 208 Project Frog, 119 Pro Line Sports, 550 ProNova Solutions, 545 Prosper, 535 Protean Drive Motor, 111 Protean Electric, 111 Providencia USA, 555 ProviderTrust, 72 PRSM Healthcare, 305 Pruitt, Andy, 594 Prusak, Joey, 63 Psycho Donuts, 323 Public Affair PR, A, 47 Public Affairs Council, 33 Purcell, Bob, 111 Putney, Inc., 200, 650, 653 Puzder, Andy, 554 Q Qcue, 402 Qmonos, 127 Quaker State & Lube, 577 Qualcomm, 513 Quality Bicycle Products, 554 Qualters, Sheri, 615 Qualtrics, 547 Quest, Seth, 505 QuestMark Partners, 510 QuickBooks, 422 Quigley, Rachel, 89 Quikava, 675 Quinton, Brian, 324 Quirky, 122, 123 Quiznos, 279, 289 QVC, 311 R Radical Football LLC, 248 Radio Flyer, 46, 114 Ragged Mountain, 402 Raheja, Raj, 117 Raia, Joe, 129 Raider, Jeffrey, 389 Ramakrishnan, Rama, 369 Ramamurthy, Aarthi, 37 Rand Capital SBIC, 530 Range Resources Corporation, 636 Ranger Up, 355 Ransom, Diana, 615 Raskin, Max, 41 Rassweiler, Andrew, 408 Ratio Law Firm, 465 Ratliff, David, 91 Ratliff, Lou Ann, 91 Raymond, Doris, 118 Raz, Tahl, 111 Razzaque, Brian, 702 R&D Magazine, 97 Reade, Duane, 388 Real Bullets Branding, 329 Recruit Co Ltd., 547 Reddy, Kevin, 196, 197 Redhage, Christopher, 72 Red Hat Inc., 635 Red Mango, 265 Redner, Joey, 163 Redpoint Ventures, 187 Reebok, 90 Reese, Corey, 636 Reese-Cassal, Kyle, 79 Reeves, Scott, 50 Refulgent Software, 249 Reilly, Mary-Bridget, 494 Reilly, William J., 561 Rein, Alex, 416 Reis Inc., 563 Reisinger, Brian, 601 REL Consultancy, 461 Rella, Daniel, 265 RendezWoof, 171 RentHop, 22 RentTheChicken.com, 216 Rent the Runway, 21 Resnick, Nathan, 505 Resnick, Rosalind, 503 Restaurant Stakeout, 494 Retro Fitness, 215 Reuben on Rye, 570 Reuters, 447 Re:Vision Architecture, 78 Rex, Tyler, 316 Rezeli, Jenn, 78 RHW Media, 481 Rice, Mark, 125 Rich, Melissa, 93 Richardson, Steve, 392 Richland, LLC, 609 Rickenbacker, Eddie, 506 RidePost, 47 Rifkin, Glenn, 41 RightNow, 322 Riili, Pablo Giménez, 611 Riley, Connor, 89 Riley, Elizabeth, 65 Rincon, Ivan, 535 Rincon, Mayra, 535 Rishe, Patrick, 403 Risk Management Association (RMA), 427, 428, 446, 447, 469, 489 Ristorante Bergamo, 564 Rita’s Frozen Ice, 298 Ritter, Jay R., 514 Ritz-Carlton, 333 Rivet & Sway, 309 Roark, Bill, 657 The Roasterie, 394 Roberts, Mike, 276 Roberts, Shaun, 120 Robins, Gary, 293 Robins, Stephen, 551 Robinson, Madison, 32, 33 Rockefeller, Laurance, 506 Rocket Chemical Company, 97 Rockne, Knute, 98 Rock the Post, 504 Roegner, Eric V., 413 Roelofson, Cameron, 120 Roetzheim, William, 24 Rogers, Stephen, 270, 275 Roma Costume, 470 Ronick, Mel, 372 Ronnen, Tal, 276 RoommateFit, 53, 54 RoomPlace, 344 Roots Café, 258 Rosebrook, Ashley, 204 Rosen, Michael, 72 Roshania, Neema P., 277 Rosoff, Matt, 641 Rosshandler, Jacqui, 523 Rotary Club, 612 Rotche, John, 276 Rotella, Joseph, 247 Rowe, Craig, 313 Rowling, J K., 122 Royal Distribution, 672 RSA Design, 78 Rubin, Jeff, 304 Rubin, Michael, 627 Ruby Receptionists, 335, 654 Ruby Tuesday, 579 Ruebens, Lindsay, 556 Runyan, Joe, 203 Rural Development Rural Business Services (RBS), 531 Rustagi, Kevin, 49 Ruth, Babe, 51 Ruvinsky, Ilene, 505 Ryckman, Pamela, 204 Rynes, Sara, 77 S Saadi, Sommer, 41 Sabai Technology, 603 Saban, Nick, 626 Sablik, Tim, 138 Sackville Cab, 489 Saddleback Leather, 318 Sadler’s Wells, 116 Safari, 234 Safeway, 403 Sage North America, 422 Sage Software, 24 Sageworks, 442, 483 Sahlman, William A., 188, 189 Saifi, Ali, 288 Sam’s Club, 403, 512 Samsung, 390, 391, 551 Samuels, Ron, 204 Samuelyan, Sam, 297 Santa Barbara City College, 569 Santos, Jason, 214 Santos, Zina, 214 Sapozhnikova, Anya, 248 Sarasvathy, Saras, 26 Sargeant, Winslow, 18 Sarowitz, Steve, 543 Sataline, Suzanne, 523 Savacool, Julia, 32 Sawyer’s Walk/Crosswinds, 237 SBAExpress Program, 524, 526 Scarborough, Norman M., 104 ScentAir, 578 Schadle, Don, 283 Schatz, Brandon, 550 Schenk, Aiken, 243 Schier, David, 477 Schiff, Jennifer Lonoff, 380 Schiff, Judah, 488 Schiff, Lewis, 32 Schilling, Curt, 55 Schlachter, Anita, 266 Schlosser, Julie, 581 711 Find more at http://www.downloadslide.com 712 NAME INDEX Schlotsky’s, 291, 298 Schnatter, John, 271 Schofield, Bruce, 470 Schofield, Lucy, 470 Schonfeld & Associates, 447 Schorr, Perry, 404 Schrock, Troy, 630 Schroter, Will, 24 Schultz, Peter, 336 Schumpeter, Joseph, 21, 26, 27, 109 Schwab, Katharine, 162 Scimone, T J., 112 Scott, Rick, 691 Scott, Robert, 536 Scurfield, Heath, 29 SDL, 386 Sea Life Minnesota Aquarium, 568 Seattle’s Best Coffee, 569 Sebastian’s Café, 364 Second Chance (San Diego), 75 Securian Financial Group, 251 Securities and Exchange Commission (SEC), 210, 447, 515, 516 Segal, Miki, 488 Seiken, Jason, 114 Seinfeld, 108 Sekiyama, Kazuhide, 127 Select Comfort, 578 Selkoe, Greg, 634 Semien, Robyn, 555 Senor Wraps, 44 Sense of Smell Institute, 578 Sensoria, 26 SEO Research, 365 Sequoia Capital, 500, 512 Service Corps of Retired Executives (SCORE), 180, 466 7-Eleven, 296, 627 Severinghaus, Erik, 273 Sex and the City, 38 Seymour, Tyler, 159 Shaich, Ron, 309, 333 Shackleton, Ernest, 641 Shankman, Peter, 363 Shari’s Berries, 311 Sharklet Technologies, 124 Shark Tank, 40, 242 Sharpless, Jake, 367 Shaw, Tanya, 620 Shawe, Phil, 32 Shee, Jody, 277 Sheer, Lawrence, 39 Sheetz, 657 Sheetz, Stan, 657 Sheridan, John H., 333 Sheridan, Richard, 640 Sherlock Homes, 233 Sherman, Robert, 50 Shields, Brooke, 436 Shields, Julien, 559 ShipWire, 352 Shops of Saddle Creek, Tennessee, 567 Shorin, Arthur T., 523 Shula, Don, 48 Shula Burger, 48 Shula’s Bar, 48 Shula’s On the Beach, 48 Shula’s Steak House, 48 Shula’s 347 Grills, 48 Shula’s Steak and Sports, 48 Shutterfly, 556 Shvartsman, Gerald, 692 Sidwell, Stephen, 276 Siegel, Ethan, 154 Siegel, René, 241 Siegler, Pascal, 558 Sieron, Mark, 120 Siewert-Olson, Joan, 656 Siewert-Olson, Lana, 656 Signature Capital, 512 Signia Venture Partners, 512 Signs by Tomorrow, 285–286 Silverman, Julia, 29 Silverman, Zack, 416 Silver Stars Fitness, 153 Simmons, Michael, 50 Simms Fishing Products, 551 Simon, Carly, 103 Simple Smart Science, 519 Singer, Isaac, 267 Singer, Susan, 200 Singer, Thea, 111 Singer Sewing Machine Company, 267 Singh, Ranjit, 386 SiteApps, 345 Siversen, Chris, 442 Siwicki, Bill, 363 Skiba, Jeff, 97 Skillet Street Food, 394 Skinny Ties, 362 Sky Box, 248 Slice, 112 Slingshot Sports, 614 Sloan, Paul, 308 Sloan Management Review, 112 Small Business Administration (SBA), 18, 50, 97, 178, 180, 245, 253, 273, 518, 520, 522, 523, 524, 525, 526, 545, 569, 597, 600, 605, 614 Small Business Development Centers (SBDC), 180, 475, 545 Small Business Innovation Research Program (SBIR), 532 Small Business Investment Companies (SBICs), 530 Small Business Network Monitor, 483 Small Business Payments Survey, 415 Small Business Technology Transfer Program (STTR), 532 Small Loan Advantage program, 526 SmartPak, 656 Smashing magazine, 375 Smith, Art, 276 Smith, Catherine, 89 Smith, Dave, 657 Smith, David, 269, 274, 564 Smith, Dylan, 647 Smith, Greg, 449 Smith, Joe, 273 Smith, Margaret, 564 Smith, Peter, 445 Smith, Ray A., 138 Smith, Roland, 292 Smith, Ryan, 547 Smith, Scott, 261, 547 Smith, Spencer, 269 Smoke Berkeley, 533 Smolan, Rick, 27 Smooth Fitness, 311 Smoothie King, 297 Smucker, Irwin, 660 Smucker, James Monroe, 660 Smucker, Mark, 660 Smucker, Paul, 660 Smucker, Richard, 660 Smucker, Timothy, 660 Snyder, Stu, 108 Soccket ball, 29 Social Media Marketing University, 326 SocialToaster, 702 Society for Human Resource Management, 653 Society of Competitive Intelligence, 209 Society of Human Resource Managers, 643 Sodexo, 80 Sohl, Jeffrey, 511 SolarWorld Industries America, 615, 616 Soliman, Omar, 242 Solixr, 642 Something Store, 38 Sommet Group, 62 Somnio, 594 Sony Pictures, 702 Sopranos, The, 38 Sorensen, Orlin, 307 SoundCloud, 401, 577 SoundHound, 122 Sound of Music, 172 SoundSense, 193 Source Outdoor, 692 South by Southwest Interactive Festival, 552 Southdale Mall, 565, 568 Southern Illinois University, 280 Southern Institute for Business and Professional Ethics, 71 Southern Tide, 31 South’n France, 558 Spaly, Brian, 99 Spangenberg, Eric, 578 Sparrow, Jack, 118 Spatafore, Joe, 525 Spatafore, Joyce, 525 Spear, Jeff, 295 Specialized Bicycle Components, 594 Speller, Tom, 530 Spencer, Susan, 461 Spencer Organ Company, 247 Spider, Inc., 127 Spider Web, 127 Spiegelman, Paul, 425 Spitzer, Alison, 342 Spitzer Auto Group, 342 Splash Mobile Car Wash, 120 Spors, Kelly K., 106, 657 SportsPhotos.com, 550 Sportyourself, 34 Spotify, 152, 577 The Spotted Crocodile, 637 Spriggs, Mark, 266 Spring-Green Lawn Care, 288 SquareSpace, 325 Square Wallet, 417, 418 SRC Holdings, 653 St John, Susan, 261 Stack, Jack, 653 Stacked: Food Well Built, 334 Stacks and Stacks, 372 Stakes, Christian, 317 Stansberry, Glen, 317 Staples, 210, 392, 530 Starbucks, 276, 395, 506, 509, 560, 576, 672, 673, 674, 675, 688 Starner, Ron, 552 Startup America, 547 Star Wars, 121 State Bicycle, 346 State Farm Insurance, 519 Stathakis, George, 553 Stauffer, Dennis, 123 Stave Puzzles, 392 Staver, Mike, 261 Stawi Foods and Fruits, 20 Stax Omega, 553 Steak ‘n Shake, 279 Steamer’s Café, 416 Stein, Joshua David, 559 Stein, Tom, 314 Steinberg, Andrew, 442 Steinberg, David, 22, 23 Steinert, Langley, 336 Stephenson, Allen, 31 Stericycle, 425 Sternberg, Tom, 210 Stetson, Lynn, 350 Stevenson, Howard, 18 Stevenson, John C., 564 Stewart, Brandi, 333 Stewart, Mike, 387 Stewart, Thomas, 198 Stickels, Terry, 100 Stille, Mack, 656 Stille, William, 656 Sting, 344 Stock, Saskia, 594 Stolt, Kent, 494 Stone, Colleen, 491 Stonyfield Farm, 35 Stop & Shop, 335 Storefront Inc., 559 Storenvy Inc., 559 Strategic Communications, 28 Strauss, Steve, 322 Stringer, Kortney, 204 Stringham, Bambi, 285 Stringham, Todd, 285 Strong, Lyn, 30 Sublette, Guen, 314 Suburban Camping, 127 Subway, 271, 277, 278, 280, 288, 294, 296, 569, 599 SuccessFactors, 213 Sulaiman, Tosin, 295 Sullenberger, C B “Sully,” 640 Sullivan, Deborah, 22 Sullivan, Sean, 594 SumAll, 633 Summers, Bob, 288 Summers, Jackie, 27 Summers, Kathy, 288 Sun, Shelly, 273 Sun Holdings LLC, 272 Sun Microsystems, 500, 530 Sunoco, 267 Sun Sentinel, 435 Suns River, 153 Super Bowl, 468 Super Nasty magazine, 42 SurePayroll, 76 Surh, Carolyn, 142 Survey Monkey, 309 Sutton, Laurel, 234 Swallow, Erica, 211 Swartz, Jeffrey, 66 Sweaty Bands, 121 Sweeney, Chris, 691 Sweet, Robert W., 403 Sweetwater Brewery, 315 Swoboda, Chuck, 107 Syinc.tv, 34 SylvanSport, 141 Symyx, 336 Szymczak, Mike, 106, 195 T Tabaka, Marla, 521 Taco Bell, 114, 117, 292, 295, 297, 396, 598 Talarico, Mark, 569 Talbot’s, 567, 620 Tallulah on the Thames, 577 Tally, Greg, 126 Tally, Meredith, 126, 127 Target, 116, 276, 303, 392 Tasti D-Lite, 291 Tate, John, 494 Tavary, Diana, 280 Taylor, Bill, 333 Taylor, Colleen, 50 Taylor, Howard, 298 Taylor, William C., 204 TCM, 552 Teach, Edward, 205 Technical Assistance Research Programs, 333 TechStars, 506 Telehealth PT, 173 Telework Research Network, 652 Telford, Frank, 697, 698, 700 Ten Thousand Villages, 559 Tequila Mockingbird, 233 Tesco’s Corporate Steering Wheel, 222 Tesla, 155 Tessler, Remi, 293 Texaco, 267 Texas Roadhouse, 553 Thankster, 354 Thawte, 348 TheRealReal, 349 The Ride, 359 Thermo-Pur Technologies, 571 1366 Technologies, 202 37signals, 117 38 Studios, 55 Thomas, Brian, 657 Thomas, Dave, 270 Thomas, Paulette, 503 Thomas Pink, 577 Thorn, Bret, 399 Tide Dry Cleaning, 203, 204 Tiffany & Company, 138, 379, 554, 576 Timberland, 66 Timeless Message, 387 Tiny Farms, 162 TITLE Boxing Club, 276 Title Nine, 648 Title Nine Olympics, 648 T-Mobile, 270, 417 Toastmasters, 315 Today Show, 305 Todd, Edwin, 62 Toffler, Alvin, 194 Tompkins, Jenn, 216 Tompkins, Phillip, 216 Toms, 318 Toolfetch, 362, 363 Toossi, Mitra, 80 Top Dog Travel, Inc., 84 Toppers Pizza, 405 Torch Technologies, 657 Torres, Ashley D., 693 Torres, Nichole L., 142 Toyopolis, 244 Toyota, 155, 585 Toys for Tots, 321 Trade Information Center, 597 Trade Opportunity Program (TOP), 597 Trader Joe’s, 560, 643 Tran, Kenneth, 240 TransPerfect Translations, 32 TransUnion, 478 Traveler’s Rest, 30 Tribal Medical Outreach Association (TOMA), 690 Tribune Company, 435, 437 Trimble, Scott, 234 TRIZ, 132, 133 Trott, Jeff, 387 Truck Yard, 654 Find more at http://www.downloadslide.com NAME INDEX True & Co., 37 True Religion, 407 True Value Hardware, 267 Trunk Club, 99 TRUSTe, 347, 348, 357, 359, 378 Trustwave, 356 TSKE Tsukishima Kankyo Engineering Ltd., 609 Tsonga, Jo-Wilfried, 322 TSS Photography, 294 Tumblr, 325 Turk, Trina, 546 Turner, Bill, 512 Turner, Ted, 97 Twain, Mark, 654 23andMe, 628, 648, 652 Twining, Jim, 31 Twitter, 40, 88, 89, 190, 233, 311, 319, 320, 322, 323, 324, 325, 326, 346, 353, 354, 356, 360, 361, 363, 373, 499, 505, 635, 636, 644, 677, 678 Tyco, 69 TypePad, 325 U Uber, 402 Uglydolls, 47 Uncharted Play, 29 Under Armour, 36, 156, 233 Undercover Boss, 627 Underhill, Paco, 574, 575, 577, 579 Underwood, Ryan, 594 Underwriter Laboratories, 357 Unequal Technologies, 105, 106 Unified Payments, 26 Unilever, 513 Unique Solutions, 620 United Aircraft Corporation, 103 United Parcel Service, 138 United States Ski and Snowboard Association, 695 United Way, 92 Unity Marketing, 317 Universal Music, 702 University of Akron, 554 University of California, Santa Barbara, 569 University of California, Santa Cruz, 24 University of Miami, 49 University of New Hampshire, 506, 507, 651 University of Pittsburgh, 53 University of Virginia, 26 Upcountry Provisions Bakery & Bistro, 531 UPS, 352, 513 UPS Worldport, 562 UrbanHalo, 570 Urban Outfitters, 577 UrbanSitter, 109 Ury, William, 260 U.S Air Force, 170 U.S Census Bureau, 50, 307, 447, 543, 544, 551, 552 U.S Chamber of Commerce, 493 U.S Commercial Service, 597, 600, 603, 605, 609 U.S Copyright Office, 142 U.S Department of Agriculture (USDA), 30, 447, 531, 532 U.S Department of Commerce, 447, 592, 595, 597, 599, 603, 604–605, 607, 613, 614, 616 U.S Department of Defense, 532 U.S Department of Housing and Urban Development (HUD), 531 U.S Department of Justice, 575 U.S Export Assistance Centers, 597, 600, 603 U.S Patent and Trademark Office (PTO), 37, 107, 134, 135, 136, 140, 234, 283, 370 U.S Supreme Court, 85, 243, 406 U.S Venture Partners, 99, 510 Uselton, John, 368 V Vaksman, Irena, 325 Valade, Gretchen, 655 Valade, Mark, 655 Valdesolo, Fiorella, 211 Vallet, Mark, 155 Valve Corporation, 194 Vanegas, Cindy, 471 Van Grove, Jennifer, 211 Vanguard Services, 479, 481 Vassallo, Steve, 133 Vega, Carlos, 694 Vegetarian Gourmet Cuisine, 44 Velcro, 109 Vemuri, Geeta, 511 Venture Ride Manufacturing, 126 Vera Wang, 21 Veridian Credit Union, 529 VeriSign, 359 Veritas Software, 625 Verizon Communications, 61, 307, 368, 380 Verizon Wireless, 417 Vermont Country Deli, 577 Vermont Country Store, 634 Versace, 21, 554 Vertex Pharmaceuticals, 124, 125, 128, 129 VerticalResponse, 311 Vescovi, Robyn, 291 VetFran program, 273 VH1, 702 Vicorp Restaurants Inc., 437 Victoria’s Secret, 304, 403 Victory Auto Service and Glass, 321 Vigano, Davide, 26 Vij, Vicky, 517 Villa Enterprises, 442 Village Inn, 437 Vimeo, 372 Vines of Mendoza, 611 Viola Park Corporation, 105 Virgin Group, 49, 628, 659 Visa Small Business, 477 Vito, Robert, 105, 106 Viva McDonald’s, 575 Viva Móvil, 307 Vomaris Innovations, 97 Von Oech, Roger, 104, 106 Vora, Shivani, 484 Vosges Haut-Chocolat, 400 VoViDa, 483 VoWac Publishing, 531 V3 Media Marketing, 488 W Wade, Holly, 391, 473 Wadhawan, Neil, 117 Wadhwani, Romesh, 24 Wagstaff, Paul Smucker, 660 Wahlforss, Eric, 401 Wainwright, Julie, 349 Waldo, Theresa, 86, 87 Wales, Jimbo, 37 Walker, Brian, 349 Walker, David, 517 Walker, J., 359 Walker, Rob, 261 Wal-Mart, 157, 195, 203, 204, 215, 216, 303, 331, 390, 392, 512, 513, 542, 569, 576, 579, 655 Walsh, K C., 551 Walters, Mariana, 418 Walton, Sam, 542 Wang, Annie, 40 Wang, Jennifer, 41 Warby Parker, 389 Ward, Lisa, 581 Warren, Adam, 34 Washington, George, 135 Washington Floral Service, 395 The Way We Wore, 118 Webgistix, 352 WebPageTest, 352 Web Site Garage, 373 WebTrust, 359 We Do Lines, 265 Weebly, 325 Weed Man, 274 Weetabix, 322 WeFullfillIt, 352 Wehrum, Kasey, 331, 333 Weingartner, Nancy, 295 Weinstein, Bob, 480 Weiss, Robert M., 403 Weitzel, Ted, 237 Welch, Jack, 194 Weldon, Frances, 35 Weldon, Michael, 35 Well Read Books, 499 Wells Fargo, 32, 35 Wells Fargo Small Business Index, 460 Wendy’s, 270, 271, 292, 396, 688 West, Kanye, 559 West Edmonton Mall, 567 Western Auto, 267 West Paw Design, 121 Wetanson, Stuart, 392 WGN America, 435 Whalen, Michael, 290 Wharton School, 388, 394 Whattaburger, 289 WhippingPost.com, 27 White, William, 277 WhiteHat, 348 Whitehill, Gary, 34 Whitfield, Brian, 62 Whitfield, Marsha, 62 Whitford, David, 41, 50 Whittaker, Teresa, 584 Whole Foods Market, 162, 195, 508, 509, 577, 645 Wienzweig, Ari, 199 Wikipedia, 37 Wildrose Kennels, 387 Wilkerson, Kevin, 274 Wilkerson, Laurel, 274 Williams, David, 102 Williams, Neil, 494 Williams, Spencer, 121 Williams, Tina Byles, 74 Williamson, Tim, 179 Willow Springs Water Park, 91 Wilson, Joanne, 508 Wilson, Sara, 287, 290 Wilson Creek Outfitters, 329 Windy Knoll Golf Club, 170 Winfrey, Oprah, 36, 138 Winkler, Claire, 559 Winn-Dixie, 581, 655 Wissotzky, Hadar, 109 ‘witchcraft, 237 Wojcicki, Anne, 628, 648, 652 Women’s Enterprise Development Center, 526 Wong, Danny, 352 Wong, Kristine A., 162 Woodinville Whiskey Company, 307 Wood Stone Ovens, 604 Woodyard, Patrick, 65, 200 Woollaston, Victoria, 162 WordPress, 325 WordStream, 236 Wordtracker, 366 WorldCom, 69, 515 World Retail Congress, 592 713 World Trade Organization (WTO), 134, 615, 616, 619–620 World Wrestling Entertainment (WWE), 203 Wozniak, Paul, 657 Wuorio, Jeff, 234 Wuyi Tiandi Motion Apparatus, 141 Wycoff, Joyce, 101 Wysocki, Chris, 563 X Xero, 422 Xerox Corporation, 481 X Factor, 113 Xirrus, 509–510 XL Marketing, 22, 23 Xuny, 503 Y Yahoo!, 27, 61, 366, 500 Yahoo Network, 348 Yang, Jamie, 76 Yang, Stanley, 121 Yarnhouse, 563 Y Combinator, 506 Yelp, 326, 331, 361 Yerkes, Leslie, 648 Yes Man Watches, 505 Yes to Carrots, 399 Yes & Yes Designs, 559 Yohn, Denise Lee, 234 Yorston, Yva, 481 Young, Jeremy, 37 Young, Rudolph, 660 Young, Thomas, 660 Young, Tommy, 660 Young Office, 660 Younique Boutique, 638 Youth Job Center (Evanston, Illinois), 75 YouTube, 323, 324, 325, 326, 346, 354, 361, 366, 372, 677, 695 Yu, Alan, 545 Yulong, 391 Yum! Brands, 292, 295, 598 Yves Saint Laurent (YSL), 138 Z Zadeh, Shayan, 515 Zaleski, Andrew, 208 Zamichieli, Jim, 437 Zamolution, 437 Zander, Doug, 695 Zander, Laura, 486, 695, 696 Zappos, 33, 108, 128, 333, 562, 641, 654 Zara, 486 Zaritski, Joseph, 603 Zawada, Craig C., 413 Zaxby’s, 273 Zee Wines USA, 594 Zendesk, 329 ZeroAccess, 367 Zetlin, Minda, 208 Zielinski, Dave, 333 Zimmerer, Thomas W., 104 Zimmerman, Eilene, 399 Zingerman’s Community of Businesses, 199 Zipskinny, 543 Zivelo, 52 Zoo Doo, 406 Zoomerang, 309 Zoosk, 515 Zoots, 195 Zuckerberg, Mark, 36, 49, 573, 663 Zurofsky, Jeffrey, 237 Zweigoron, Jordan, 323 Zygna, 514 Zytec, 328 Find more at http://www.downloadslide.com Subject Index A Absorption costing, 409 A/B tests, 380 Accelerator programs, 504–506 Accounts payable, 473, 474, 482, 484 Accounts receivables, 473 avoiding losses from, 483–484 collecting probability, 471 discounting, 527–528 management of, 439–440, 469, 471–472, 474, 476–477 techniques for accelerating, 479, 481–482 Accredited investors, 502 Acquisition process, for existing businesses, 255–256 Action plans, 219 Adaptability, leadership and, 625 Advance rate, 527 Advertising, 185, 271, 346 See also Promotion Affordable Care Act, 153–154 Africa, franchising in, 295 African American entrepreneurs, 42 Almanac of Business and Financial Ratios, 447 Ambiguity, 109 American Community Survey (Census Bureau), 543 American Marketplace, The: Demographics and Spending Patterns, 544 Americans with Disabilities Act (ADA), 575 Amoral management, 64 Angels, 506–509 Annual Statement Studies, 427, 446, 447, 469 Apps, 364 Area development franchising, 297 Articles of organization, for limited liability companies, 248 Art of Pricing, The (Mohammed), 389 Art of the Start, The (Kawasaki), 185 Asian entrepreneurs, 42 Asset-based lenders, 527 Assets current, 423 fixed, 423 on projected balance sheet, 430–431 Audits ethical, 74 expense, 489 Authenticity, leaders and, 627 Automatic Clearing House, 471 Autonomy, 651 Average age of inventory, 438 Average-collection-period ratio, 439 Average-inventory-turnover ratio, 438 Average number of page views per visit, 377 Average-payable-period ratio, 440–441 B Baby boomers, 48, 534, 632, 635, 658, 659 Background checks, employee, 643–645 Balanced scorecards, 220, 222, 223 Balance sheets examples of, 423, 444 explanation of, 422–423 fundamental accounting equation for, 423 projected, 430–431 Bank drafts, 606 Banner ads, 346 Bartering, 488, 600 Beige Book, 183 Benefits, 182 alternative, 637 employee, 653–654 Best alternative to a negotiated agreement (BATNA), 261 714 Best Practices of Private Sector Employers, 81 Beta tests, 160 BHAGs, 212, 630 Blogs, 324–325 Bond’s Franchise Guide, 286 Bootstrap financing, 499, 500 Bootstrap marketing strategies, 303–305 branding, 318–319 building community with customers, 316 connecting with customers on emotional level, 316–318 convenience, 334–335 customer satisfaction, 326–329 entertain, 316 filling a niche, 313 innovation, 335–336 publicity, 313 retain existing customers, 330, 332 social marketing, 319–326 speed, 336–337 tactics, 313–315 total quality management, 332–334 uniqueness, 316 Bootstrapping, 27, 50, 163 Botnets, 367 Bounce rate, 377 Brain function, creativity and, 101–104 Brainstorming, 129–130 Branding, 318–319 Brand-name appeal, for franchisees, 270 Break-even analysis, 187, 450–456 adding profit, 452–453 break-even point in units, 453 explanation of, 450–451 using, 455–456 Break-even chart, constructing, 454–455 Break-even point calculating, 451–452 explanation of, 450–451 in units, 453 Break-even selling price, 411–412 Break from the Packk (Harari), 211 Building interiors, 576 Bundling, 405 Business climate, 547 Business directories, 161, 311–312 Businesses See also Existing businesses; specific types of businesses failure of, 34, 51–52 family-owned, 45–46 financial soundness of, 258 home-based, 45, 569–570 minority-owned, 42–43 mobile, 570 responsibility to community, 92–93 responsibility to customers, 88, 89–92 responsibility to employees, 78–88 responsibility to environment, 78 responsibility to investors, 92 trade and, 616–617 women-owned, 41–42 Business ethics approaches to, 64 defined, 62 factors driving, 66 Business format franchising, 267, 268 Business incubators, 572 Business model, 148, 191 building and testing, 53, 54 developing and testing, 166–170, 172 Business Model Canvas, 166 channels, 166, 168 cost structure, 166, 168 customer relationships, 166, 167 customer segments, 166–167 key activities, 166, 168 key partners, 166, 168 key resources, 166, 168 revenue streams, 166, 168 value proposition, 166, 167 Business modeling process, phases in, 168–170, 172 Business model innovation, 117–118 Business owners exit strategies for, 188, 499, 512, 663–665 negotiation of sale with, 258–259, 260 Business ownership forms business plan and, 187 C corporation, 245 characteristics of, 250 corporations, 243–247 issues to consider when evaluating, 231 limited liability company, 247–248 overview of, 231, 233 partnership, 237–243 S corporation, 245–247 sole proprietorship, 235–237 statistics related to, 232 Business plan features business and industry profile, 183, 224 competitor analysis, 183–184, 224 entrepreneurs’ and managers’ résumés, 186–187 executive summary, 181–182, 223 loan or investment proposal, 188–189 market entry strategy, 184 marketing strategy, 184–186, 224 mission and vision statement, 182, 223 plan of operation, 187, 225 product or service description, 182 pro forma financial statements, 187 title page and table of contents, 181 Business plans See also The Daily Perc business plan benefits of creating, 178–180 competitive test, 179–180 elements of, 180–189 explanation for, 178 functions of, 179 funnel, 510 keeping current, 494 presentation, 190–192 reality test, 179 sample, outline of, 223–226 software for, 181 solid, 54 value test, 180 Business prototyping, 169–170 Business ratios, interpreting, 443–450 Buyers, bargaining power of, 156–157 Buying power, of franchises, 274 Buy-sell agreement, 662 By-product pricing, 406 C Cafeteria benefit plans, 654 Campus recruitment, 635 CAN-SPAM Act, 356 Capacity, 189–190 Capital debt, 500 equity, 424, 500 explanation of, 498–499 intellectual, 194 for new businesses, 189 for partnerships, 239, 240 for sole proprietorships, 236 working, 427 Capital Access Programs (CAPs), 533 Capital lease, 490 Capital requirements business ownership forms and, 231 planning for, 163 CAPLine Program, 526 Captive-product pricing, 406 Cart abandonment rate, 377 Cash balance, 430 importance of, 55 investing surplus, 492, 494 profits vs., 463–464 requirements for, 253, 459, 462 running out of, 163 Cash budgets cash disbursements forecasting for, 472–473 cash receipts forecasting for, 469, 471–472 determining adequate cash balance for, 467, 468 end-of-month cash balances for, 473–474 examples of, 466–467 explanation of, 464–465 formats for, 466 “net 30” trade credit terms, 485 sales forecast for, 467, 468–469 Cash conversion cycle, 476 Cash cushion, building, 492 Cash disbursements, 472–473 Cash discounts, 487, 488 Cash flow See also Statement of cash flows challenges related to, 459 company ratings, 460 explanation of, 459–460, 464 forecast, 475–476 management of, 460 for new businesses, 189–190 planning for, 474 seasonal businesses and, 470–471 signs of impending crisis, 461 Cash flow cycle, 461–463 Cash forecast, 462 Cash management accounts payable and, 482, 484 accounts receivable and, 476–482, 483 avoiding nonessential outlays, 490 bartering and, 488–489 “big three” of, 474, 476–479, 481–482, 484–487 cash cushion and, 492 check fraud and, 491 e-mail and, 491 expense audits and, 489 explanation of, 459–460 function of, 487–488 gift cards and, 491 inventory and, 484–487 leasing and, 489 outsourcing and, 490–491 overhead costs and, 489 security and control system and, 491 shipping terms and, 491 shoplifting and employee theft detection and, 493–494 zero-based budgeting and, 492 Cash receipts, 469, 471–472 Cause marketing, 303, 315 C corporations, 245, 250 Census data, 161, 312 Central business district (CBD), 564–565 Certificate for Conducting Business as Partners, 238 Certificate of Limited Partnership, 239, 243 Certified development company (CDC), 525 Change, leaders and, 628 Channels, 166, 168 Character, 190 Charge-backs, 381, 382 Check fraud, 491 Checkout process, 582 Cities See also Location clustering in, 554 compatibility with community, 554 competition within, 553–554 incentives in, 555–557 infrastructure in, 555 laws and regulations in, 554–555 population trends in, 551–553 quality of life in, 557 utilities in, 555 Clawback provisions, 557 Click fraud, 367 Click-through rate, 356 Closely held corporation, 244 Find more at http://www.downloadslide.com SUBJECT INDEX Cloud computing, 38 Clusters, 554 Cobranding franchising, 298 Cocreation, 363 Code of ethics developing, 73 enforcing through policies, 73–74 Coleman Report, The, 275 Collaboration, 121–122 Collateral, 190, 521 Collection blunders, avoiding, 480 Collection policy, establishing, 477–479 Colleges/universities entrepreneurship classes in, 36, 40 student entrepreneurs in, 40–41, 49 Combination franchising, 298 Commerce metrics, 376 Commercial banks, 518 Commercial finance companies, 528–529 Commercial loans, 519 Commitment, entrepreneurs and, 26 Communication skills, leaders and, 627 Communities business compatibility within, 554 business’s responsibility to, 92–93 e-commerce and building, 354–355 entrepreneurs and involvement in, 204 Community Advantage program, 526 Community Development Block Grants (CDBGs), 531 Community development financial institutions (CDFIs), 533 Community shopping centers, 565–566 Compact fluorescent lights (CFLs), 578 Company credo, creating, 73 Compensation, types of employee, 652–655 Competition analysis of, 183–184, 207–211 in cities, 553–554 differentiation from, 55 ethical lapses and, 70 nearby competitors, 568–569 nonprice, 391 pricing and, 390–393 for retail and service businesses, 560 site location and, 541–542 Competitive advantage building sustainable, 195–197 explanation of, 195 location and, 560 speed as, 336–337 Competitive intelligence, collecting, 209 Competitive profile matrix, 210, 211 Competitive Strategy (Porter), 215 Competitive test, 179–180 Conditions, 190 Confidence, entrepreneurs and, 23 Conflict, in partnerships, 241 Conformity, 109 Construction, layout and, 574 Content reports, 377 Continuity, sole proprietorships and lack of, 236 Contracts, for franchisees, 280 Contribution margin, 410 Control, business ownership forms and, 231 Convenience, 334–335, 369 Conventional thinking, suspending, 101 Convergent thinking, 125 Conversion (browse-to-buy) rate, 377 Conversion franchising, 296 Conversion rates, 356, 379–380 Copreneurs, 46 “Copycat Economy,” 211 Copyrights, 142 See also Intellectual property characteristics of, 143 legal system and, 143 Core competencies, 149, 150, 196, 197 Corporate castoffs, 47 Corporate citizenship, 222–223 Corporate dropouts, 47 Corporate refugees, 251 Corporate venture capital, 513 Corporations advantages of, 244 C, 245 closely held, 244 definition, 243 explanation of, 243–244 legal issues in, 244, 245 publicly held, 244 S, 245–247 tax issues for, 245–247 Cost leadership strategy, 215–216 Cost of goods sold, 425, 430 Cost per acquisition, 377 Cost-plus pricing, 408–409 Counterfeit products infringement suits, 136–137 seizure of, 134 Countertrade, 600 County Business Patterns, 553 Coupons eliminating, 395 online, 371 Covenants, 521 Coworking, 569 Creative ideas brainstorming to generate, 129–130 force-field analysis to generate, 131 mind mapping to generate, 130–131 rapid prototyping to generate, 133–134 TRIZ to generate, 132–133 Creative process failure as part of, 103 illumination step in, 127–128 implementation step in, 128–129 improving, techniques for, 129–134 incubation step in, 126–127 investigation step in, 125 preparation step in, 124 transformation step in, 125–126 verification step in, 128 Creativity See also Innovation barriers to, 104, 106–111 brain function and, 101–104 entrepreneurs and, 26 expectation of, 113 explanation of, 97 failure and, 51 methods to enhance individual, 118–122 methods to enhance organizational, 111–118 modeling, 117 as necessity, 100–101 overview of, 97–99 rewards for, 117 teaching, 101 Creativity training, 116 Credibility, 357–358, 359, 627 Credit five C’s of, 189–190 franchisees, 273 impact on pricing, 414–418 installment, 418 trade, 418, 485 Credit card fraud, 417 Credit cards e-commerce and, 375, 416–417 as financing methods, 535–536 online transactions using, 381–382, 416, 417 processing fees for, 381, 416 for small purchases, 491 statistics related to, 415 theft of, 417 transaction process for, 416 Credit policy, establishing, 477–479 Credit terms, negotiating, 484 Credit unions, 529 Critical numbers, 445, 446 Crowdfunding, 502, 504, 505 Cultural diversity creativity and, 113 entrepreneurs and, 27, 41–48 global business and, 609, 617–619 leaders and, 628 in workforce, 79–82, 649, 650 Culture as barrier to trade, 617–619 organizational, 645, 647–648 Curiosity, encouraging, 114–115 Current assets, 423 Current liabilities, 423 Current ratio, 433 Customer capital, 194 Customer-driven marketing strategy, 306 Customer experience management, 330 Customer pivot, 172 Customer profitability map, 426 Customer questionnaires, 160, 311 Customer ratings, 371–372 Customer reviews, 357 Customer rights right to be heard, 88, 90 right to choice, 91–92 right to education, 90–91 right to know, 90 right to safety, 88, 90 Customers business’s responsibility to, 88, 90–92 community-building with, 316 connecting with, on emotional level, 316–318 discounts and, 404–405 e-commerce success and, 344 establishing interest of, 184 for exports, 604–605 interacting with, 116–117 listening to, 120 loyal, developing and retaining, 333 market research and, 307–313 online, 346–347 perspective of, 220–221 potential, 32 response to pricing, 386, 393, 394 retaining existing, 330 screening, 477–478 service and personal attention for, 204 social media and feedback from, 355 social media tools and retaining of, 361, 363–364 strategies to retain, 345 target, 369 well-defined portraits of, 306 Customer service competitive advantage in, 195 customer satisfaction based on, 326–330 e-commerce and, 349–350 as investment, not as expense, 329 Customer traffic, 562 Customized Market Analyses, 605 Customized pricing, 401 Cyberattacks, 378 Cybercrime, 378 Cycle billing, 479 D The Daily Perc business plan break-even analysis, 684 company summary, 670–671 executive summary, 669 exit strategy, 688 financial plan, 683–687 management summary, 681–682 market analysis summary, 672–675 milestones, 681 personnel plan, 683 products, 671–672 pro forma balance sheet, 688 pro forma cash flow, 689 pro forma profit and loss, 684–685 projected balance sheet, 687 sales forecast, 679–680 strategy and implementation summary, 676–678, 680 table of contents, 668 Daily transactions, 311 Data mining, 61, 310, 312–313 Daydreaming, 127 Days’ inventory, 438 Days payables outstanding (DPO), 440, 441, 461 Days sales outstanding (DSO), 439, 441 Debit cards, 417 Debt, challenges of, 436 Debt capital, 500 Debt financing sources asset-based lenders as, 527–528 commercial banks as, 518 commercial finance companies as, 528 commercial loans as, 519 credit unions as, 529 equipment suppliers and, 528 explanation of, 517 floor planning and, 519 home equity loans as, 519 intermediate and long-term loans as, 519–520 lines of credit as, 519 private placements as, 530 savings-and-loan associations as, 529 short-term loans as, 518–519 small business investment companies and, 530 stockbrokers as, 529 term loans as, 521 vendor financing and, 528 Debt ratio, 434–435 Debt-to-net-worth ratio, 435, 437 715 Decision making, in sole proprietorships, 235 Delivered pricing, 404 Demographic data market research and, 161 region selection and, 312 sources of, 544 Demographics, explanation of, 307 Department of Housing and Urban Development (HUD), 531 Depreciation, 427 Design See also Layout/design environmentally friendly, 578 external, 574 interior, 576 for physically challenged customers and employees, 575 production layouts, 584–585 web site, 367–376 Design patents, 143 Determination, entrepreneurs and, 23–24 Dictionary of Occupational Titles, 638, 639 Differentiation, 396 Differentiation strategy, 216–217 Digital franchises, 208 Direct competitors, 208–209 Direct-cost income statement, 410, 414 Direct costing, 409–411 Direct mail lists, 312 Disaster loans, 527 Discounts, 404–405 asking for, 489 cash, 487 earned, 404 eliminating, 395 limited-time-only, 393 quantity, 487 steadily decreasing, 405 Discouragement, 35–36 Distribution, marketing strategy, 186 Divergent thinking, 125 Diversity See Cultural diversity Diversity Index, by county, 2030, 2014, 79 Doha Development Agenda, 619 Domain names, 369–370 Domestic joint venture, 596 Domestic trade barriers, 610, 613, 615 Dominican Republic-Central America Free Trade Agreement (CAFTA-DR), 620 Doodling, 122 Dormant partners, 239 Double taxation, 240, 245 Downsizing, trend toward, 18, 47 Dreams, creativity and, 127 Driverless car, 155 Drive-through windows, 576–577 Drop shipping, 352 Drug testing, 82–83 Due diligence asset valuation and, 255 buyer’s evaluation and, 256 for existing business buyers, 249, 255 market potential and, 258 Dumping, 616 Dun & Bradstreet, 428 Dynamic pricing, 401–403 E Earned discounts, 404 Earnings, estimated, 163 Earnings before interest and taxes (EBIT), 437 E-commerce See also Internet; Web sites competition and, 207 credit cards and, 375, 381–382, 416–417 developing community of customers and, 354–355 e-mail use and, 356–357 issues to consider prior to launching into, 344–345 myths about, 345–353 privacy issues related to, 347–348, 357, 378 purchase funnel, 376 sales in U.S., 342 security issues related to, 347–348, 375, 378, 380–382 success in, 354–361, 363–367 trends in, 341–343 trucking routes and, 562 E-commerce strategies attracting visitors as, 355–356 development of community as, 354–355 e-mail use as, 356–357 Find more at http://www.downloadslide.com 716 SUBJECT INDEX establishing credibility as, 357–358 global reach as, 358 going mobile as, 358–361 listening to your customers as, 355 search engine optimization strategy as, 364–367 selling “experience” as, 356 social media tools as, 361, 363–364 Web site promotion as, 361 Economic Bulletin Board (EBB), 597 Economic Census, 553, 554 Economic Development Administration (EDA), 531 Editor and Publisher Market Guide, 544 Education, 36 See also Colleges/ universities; Training programs Efficiency, 395 Electronic (Automated Clearing House) collections, 471 Elephants, 51 E-mail, 491 creative use of, 356–357 privacy and, 88 Web sites providing access to, 373 Embargoes, 616 Embezzlement, 493–494 Employee assistance program (EAP), 83 Employees See also Workforce business’s responsibility to, 78–88 engaged, 648–649 ethical standards and, 73 in existing businesses, 252, 254 hiring the right, 328, 631–645 job design to motivate, 650–655 layout of existing space and, 580 leaders and, 626–627 physically challenged, 575 redesigning work space and, 581 satisfaction among, 329 superior service and, 328–329 theft by, 493–494 unethical, 69 Employee stock ownership plans (ESOPs), 665 Employee value proposition, 636 Enclosed malls, 566 Encryption software, 416 End-of-month cash balance, estimating, 473–474 Energy level, of entrepreneurs, 24 Engagement, workplace, 648–649 Entertaining, 316 Entrances, 575 Entrepreneur feasibility, 164–166 Entrepreneurial readiness, 164 Entrepreneurial self-assessment, 165 Entrepreneurs characteristics of, 22–27, 28 college students as, 40–41, 49 copreneurs, 46 corporate castoff, 18, 47 decoding DNA of, 30–32 demographic and economic factors related to, 37 expat, 610 explanation of, 20–21 family members as, 45–46 as heroes, 36 home-based, 45 immigrant, 43–44 international opportunities, 39 minority, 42–43 opportunity, 32 parallel, 25 part-time, 44–45 retiring baby boomers, 48 serial, 25 social, 29, 74 women, 41–42 young, 41 Entrepreneurship See also Global entrepreneurship; Small businesses activity across the globe, 19 activity by age group, 48 avoiding pitfalls in, 53–55 benefits of, 28–29, 32–33 college classes in, 36, 40 creativity and, 97–99 See also Creative process; Creativity cultural diversity and, 41–48 drawbacks of, 34–36 forces driving trends in, 36–39 overview of, 18–20 social, 74–76 statistics related to, 18 Entrepreneurship-friendly nations, 20 Environment business’s responsibility to, 78 ethical behavior and concern for, 61 Environmentally friendly design, 578–579 Equipment for existing businesses, 252, 254 used or reconditioned, 490 Equipment vendor financing, 528 Equity capital, 500 Equity financing sources accelerator programs as, 504–506 angels as, 506–509 crowdfunding as, 502, 504, 505 friends and family members as, 501–504 personal savings as, 500–501 venture capital companies as, 509–513 Ergonomics, 576 Estate freeze, 663 Estate taxes, 661 Ethical audits, 74 Ethical behaviors, entrepreneurs and, 60 Ethical commitment, 74 Ethical competency, 74 Ethical consciousness, 74 Ethical cultures, features of, 71 Ethical dilemmas, stakeholders and, 60–61 Ethical employees, recruiting and promoting, 74 Ethical framework, establishing, 66–69 Ethical lapses, 69 causes of, 69–71 competitive pressures, 70 globalization of business, 70–71 moral blindness, 70 opportunity pressures, 70 unethical employees, 69 unethical organizational culture, 69 Ethical leaders, social responsibility and, 61 Ethical life, universal and timeless values in, 72 Ethical standards establishing, 71 levels of, 62–63 maintaining, 73–74 profits and, 65, 66 Ethics See also Social responsibility cultural diversity in workplace, 79–82 customer rights, 88–92 drug testing, 82–83 of dynamic pricing, 402–403 explanation of, 61 identifying ethical dimensions, 68 leaders and, 626 moral management and, 64–66 privacy and, 88 sexual harassment and, 83–87 training in, 70, 74 Ethnic markets, 306, 307 Evolutionary products, 397 Existing business buyers acquisition steps for, 255, 256 due diligence process for, 249, 255, 258 self-audit and, 256 skills and abilities for, 256–257 types of, 251 Existing businesses acquisition process for, 255–259 advantages of buying, 251–252 criteria, 257 disadvantages of buying, 253–255 ensuring smooth transition with, 259 financing options, 258 negotiations for purchase of, 258–259, 260 potential candidates, 257 Exit strategies, 188 employee stock ownership plans, 665 family limited partnership, 663–664 for investors, 499 leveraged buyouts, 665 overview of, 664 for selling to insiders, 665 for selling to outsiders, 664 for venture capitalists, 512 Expat entrepreneurs, 610 Expat Entrepreneurs in Argentina (English), 610 Expense audits, 489 Expenses fixed, 451 operating, 425, 430 variable, 451– 454 Expertise, 105 Export Express Program, 526 Exporting assessing potential for, 602 establishing locations for, 607 overview of, 600–601 sources of information on, 600 statistics related to, 604 strategies for, 603–606 Export management companies (EMCs), 593, 595 Export merchants, 595 Export Programs Guide, 600 Export trading companies (ETCs), 595 Export Trading Company Act, 595–596 Export Working Capital Program, 526 F Factor, explanation of, 533 Factoring accounts receivable, 533–534 Failure expecting, 114 fear of, 110 of franchises, 282 putting into perspective, 51–52 small business rate of, 34 tolerance for, 103 Fair Debt Collection Practices Act, 479 Families, as equity financing source, 501–504 Family limited partnership (FLP), 663–664 Family-owned businesses, 45–46 Family test, ethical standards and, 71 Fast-food industry, franchising and, 291 Faulty assumptions, 123 Fear, embracing, 122 Feasibility analysis calling it quits on new business, 173 elements of, 151 explanation of, 148, 151 financial, 163–164 industry and market, 151–154 in-home trials, 160 product or service, 159–161 prototypes and, 160 role of, 172 Features, product or service, 182 Federal government, lending programs, 530–532 Feedback, 651 Females, as entrepreneurs, 19 Festival shopping centers, 567 Fighter brand, 393 Finance without Fearr (Hettinger), 422 Financial benchmarking, 446 Financial buyers, 251 Financial feasibility analysis, elements in, 163–164 Financial forecasts, realistic, 187 Financial management, explanation of, 422 Financial perspective, 221 Financial plans break-even analysis and, 450–456 interpreting business ratios and, 443–450 projected financial statements and, 427–431 ratio analysis and, 431–435, 437–443 Financial resources managing, 54–55 online, 447 Financial standards, balanced scorecard and, 220 Financial statements See also specific types of statements balance sheets, 422–424 income statements, 424–426 pro forma, 187 ratio analysis and, 431–435, 437–443 for small business, 427–431 statement of cash flows, 426–427 understanding, 54 Financing credit cards and, 535–536 debt, 500 See also Debt financing sources equipment vendor, 528 equity, 500 See also Equity financing sources for existing businesses, 252, 258 for exporting, 605 factoring accounts receivable and, 533–534 franchising and, 272–274 inventory, 528 layered, 499 leasing as technique for, 534 loan brokers and, 535 merchant cash advance and, 535 peer-to-peer lending and, 535 purchase order, 528 ROBS for, 534–535 vendor, 528 Firewalls, 380, 381 Firms See Businesses Five C’s of credit, 189–190 Five forces model elements in, 154–159 explanation of, 154–155 Fixed assets, 423 Fixed expenses, 451 Fixed position layout, 584 Flexibility, entrepreneurs and, 26 Flexplace, 652 Flextime, 636, 651–652 Float, 441 Floor planning, 519 F.O.B factory, 404 Focus groups, 160, 311 Focus strategies, 217–219 Follow-the-leader pricing, 406 Force-field analysis, 131–132 Forecasts, 161, 312 Foreign Corrupt Practice Act (1977), 607 Foreign distributors, 595–596 Foreign joint venture, 596 Foreign licensing, 598 Foreign markets, 39 Foreign trade zones, 571 Form 1065, 240 Franchise Disclosure Document (FDD), 281, 283, 288, 289, 290 Franchisees advertising programs for, 271–272 benefits for, 268–269 brand name appeal for, 270 business system access for, 269 buying power of, 274 changing face of, 291–292 characteristics of, 287 contract terms and renewal for, 280 fees and royalty payments for, 277–278 financing for, 272–273, 278 functions of, 266, 267 guidelines for decisions by, 288–289 legal issues for, 281, 283–284 management training and support for, 269–270 market research and, 286 market saturation and, 280–281 obtaining information from existing, 289–290 product line for, 274, 279–280 purchasing restrictions for, 279 self-evaluation by, 285–286 site selection and territorial protection for, 274–275 standardized goods and services for, 270–271 standardized operations for, 278–279 success rate of, 275, 277 training and support for, 280 turnover rate for, 289 Franchise Investment Law, 281 Franchise Registry, 273 Franchises, digital, 208 Franchising area development, 297 benefits of, 268–275, 277 business format, 267, 268 cobranding and, 298 conversion, 296 definition of, 266 drawbacks of, 277–281 economic impact of, 265 explanation of, 265–267 global economy and, 265–266 intercept marketing and, 296 international, 292, 294–296, 598–600 legal issues related to, 281, 283–284 lending gap, 272 master, 297–298 multi-unit, 297 myths related to, 282 number of outlets in United States, 265 options, 286–288 outlets by industry, 266 production distribution, 267 purchase steps for, 284–291 pure, 267 refranchising, 296 Find more at http://www.downloadslide.com SUBJECT INDEX Franchising (Continued) relationships, 267 selecting ideal, 293–294 site selection and, 274–275 social ventures funded through, 75 trade-name, 267 trends in, 291–292, 294, 296–298 types of, 267–268 Franchisors financing by, 272–273 fraudulent, 281 functions of, 266, 267, 268–269 questioning, 290–291 site selection process, 275 social media presence, 271 Fraud check, 491 credit card, 417 digital ad, 367 franchising, 281 online, 357, 381 Freebies, 355–356, 395, 489 Freelance specialists, hiring, 490 Freemium pricing, 401 Frequently asked questions (FAQ), 374 Friends, as equity financing source, 501–504 Full-absorption income statement, 410 Fun, 114, 648 Future orientation, 24–25 G Gazelles, 51 Gender, business start-ups and, 19 General Agreement of Tariffs and Trade (GATT), 619 General partners, 239, 240 General partnership, characteristics of, 250 Generation Y, opportunities for entrepreneurs and, 153 Generation Z, opportunities for entrepreneurs and, 153 Geographic pricing, 403–404 “Ghost shift,” 610 Gift cards, 491 Gift idea center, 371 Gift taxes, 661 Global entrepreneurship assumptions related to, 613 countertrading and bartering and, 600 e-commerce and, 358 expat entrepreneurs, 610 exporting and, 600–601, 603–606 franchising and, 265–266, 598–600 importing and outsourcing and, 608–610 joint ventures and, 596 licensing and, 598 locations and, 607 overview of, 590 reasons for, 590–592 strategies for, 592–593, 595–596, 598–610 trade intermediaries and, 593, 595–596 trends in, 19–20 Web sites and, 592–593 Global entrepreneurship barriers cultural, 617–619 domestic, 610, 613, 615 dumping, 616 embargoes, 616 international, 615–616 nature of, 610 nontariff, 615 political, 616 quotas, 615 tariff, 615 Global Entrepreneurship Monitor (GEM), 19 Globalization of business, ethical lapses and, 70–71 Global trends, 154 Globus and National Trade Data Bank (NTDB), 597 Goals business ownership forms and, 231 creating, 212 leadership and, 627 Golden Rule, ethical standards and, 71 Good to Greatt (Collins), 629 Good to Greatt (Collins and Porras), 212 Government agencies, financial operating data, 447 See also Federal government Grantor retained annuity trust (GRAT), 663 Great by Choice (Collins), 629 Great Recession, 153 Gross domestic product (GDP), 37, 51 Gross profit margin, 425 Guerrilla marketing plans explanation of, 303 identifying target market for, 305–307 market research for, 307–313 objectives of, 303 principles of, 313 Guerrilla marketing strategies blogging as, 324–325 branding as, 318–319 customer connections as, 316–318 list of, 314 niche focus as, 313 online videos as, 316, 324, 325 publicity as, 313, 315 quality focus as, 332–334 service dedication and customer satisfaction as, 326–332 seven-sentence strategy, 304 social media as, 319–326 special events as, 325–326 time compression management as, 336–337 uniqueness as, 316 H Harmonized Tariff Schedule, 615 Harvard Business Review, 189 Hidden market, 257 Hiring See Recruitment/hiring Hispanic entrepreneurs, 42 Hobbies, 118–119 Home-based businesses, 45, 569–570 Home equity loans, 519 Human capital, 194 Hyperlinks, 372–373 I Icebreakers, 642 Idea assessment, 148–151 Idea sketch pad, 149, 150 Identity theft, 417 Illumination, as step in creative process, 127–128 Image, price and, 388–390 Imagination, spurring, 111 See also Creativity Immigrants, as entrepreneurs, 43–44 Immoral management, 64 Implementation, as step in creative process, 128–129 Importing, 608–610 Incentives, states, counties, and cities, 555–557 Income statements examples of, 424, 444 explanation of, 424 projected, 428–430 Income uncertainty, 34 Incubation, as step in creative process, 126–127 Independent lifestyle, 38 Index of retail saturation, 560–561 Indirect competitors, 209 Individualized marketing, 310 Industrial Revolution, 194 Industries assessing attractiveness of, 202 profile of, 183, 224 rivalry within, 205 threats of new entrants into, 203 Industry and market feasibility analysis bargaining power of buyers and, 156–157 bargaining power of suppliers and, 156 demographics, 153 economics, 153 five forces model and, 154–159 global trends, 154 legislation, 153–154 macro forces, 151–154 market niches and, 158–159 rivalry, 155–156 sociocultural changes, 152 technological breakthroughs, 152–153 threat of new entrants and, 157 threat of substitute products or services and, 157–158 Industry associations, 447 Industry databases, 161 Industry Norms and Key Business Ratios, 447 Industry Sector Analyses, 605 Industry Spotlight, 447 Information Security Magazine, 381 In-home trials, 160 Initial public offering (IPO) explanation of, 513–515 nonpublic registrations and exemptions, 516 registration process and, 515–516 Innovation See also Creativity concentrating on, 335–336 definition of, 97 failed attempts at, 99 invention vs., 122–123 keys to, 105 leadership and, 625 learning perspective and, 221 serendipity and, 119 successful, 122–123 supporting, 116 Innovative Workplace Strategies, 581 Inside the Revolution (Hamel), 194 Installment credit, 418 Installment loans, 520 Integrity, 66, 650 Intellectual capital, 194 Intellectual property copyrights as, 142 global ventures and, 610 patents as, 134–137 protection of, 141–143 theft and piracy of, 134 trademarks as, 137, 139–140 Intercept marketing, 296 Interchange fees, 415 Interiors, building, 576 Intermediate loans, 519 Internal business perspective, 221 Internal security and control system, 491 International franchising, 598–600 International Market Insights, 605 International trade agreements, 39, 619–620 International trade barriers See also Global entrepreneurship business, 616–617 cultural, 617–619 domestic, 610, 613, 615 dumping, 616 embargoes, 616 frequently encountered, 612 nontariff, 615 overview of, 610 political, 616 quotas, 615 tariff, 615 International Trade Program (Small Business Administration), 527 Internet, 38, 39, 44 See also E-commerce; Social media; Web sites angel networks on, 508 blogs and, 324–325 competition and, 207 cost advantage and use of, 204 counterfeit sales and, 137 crowdfunding and, 502 customer service and, 349–350 financial resources on, 498, 499 global reach of, 592–593 high-speed access to, 548–550 information consumption and, 153 market research information on, 161 market research via, 312 new business models and, 341–343 niche markets and, 217 penetration rate by region, 343 prototyping and, 170 security concerns for, 347–348, 375 statistics on use of, 343 time compression management and, 337 Internet protocol (IP) address, 417 Interviews See Job interviews Intrapreneurs, 116 Intrusion detection software, 380 Intuit Future of Small Business Report, The, 218 Invention, innovation vs., 122–123 Inventory for existing businesses, 252, 254 management of, 474, 484–487 surplus, 486 Inventory financing, 528 Investigation, as step in creative process, 125 Investment bankers, 515 717 Investors business plan and, 189–190 business’s responsibility to, 92 Irrevocable asset trust, 663 Irrevocable life insurance trust (ILIT), 662–663 Irrevocable trust, 662 Isolation, sole proprietorships and, 236 J Job analysis, 637 Job descriptions explanation of, 637 honesty in, 641 traits or characteristics and, 639 Job design, 650–655 Job enlargement (horizontal job loading), 651 Job enrichment (vertical job loading), 651 Job insecurity, 47 Job interviews guidelines for, 639–640, 642 phases of, 642–643 situational, 640 strange occurrences during, 646 Job rotation, 651 JOBS Act, 504 Job sharing, 652 Job simplification, 650 Job specification, 639 Joint ventures, 596, 598 Journal articles, 161 Journaling, creativity and, 120 Journal of Commerce Port Import Export Reporting Service (PIERS) database, 209 Jugglers, 25 K Kant’s categorical imperative, ethical standards and, 71 Key performance indicators (KPIs), 445, 446 Key success factors (KSFs), 206–207, 210, 214 “Knockoffs,” 610 Knowledge Revolution, 194 L Labor force participation rate, 152 Labor supply, within states, 546–547 Landing pages, 370, 371 Law of agency, 241–242 Laws in cities, 554–555 ethical standards and, 62 zoning, 555 Layaway, 418 Layered financing, 499 Layout/design See also Location construction and appearance and, 574 drive-through windows and, 576 elements of ideal, 580–581 entrances and, 575 explanation of, 572–573 interior and, 576 lighting and, 578 for manufacturers, 583–585 for retailers, 579–582 scent and, 578 signs and, 575–576 size and adaptability and, 574 sound and, 577 visual appeal and, 578 Leader pricing, 403 Leadership in Energy and Environmental Design (LEED) principles, 578 Leaders/leadership behaviors of, 626–629 characteristics of, 625 explanation of, 625–626 management vs., 625–626 questions for, 629–630 servant, 630, 631 tasks of, 631 Lean Start-up process, 170 Leapfroggers, 25 Learning environments, 650 Leases/leasing as cash management strategy, 489–490 as financing method, 534 types of, 490 Leegin Creative Leather Products vs PSKS, Inc., 279 Find more at http://www.downloadslide.com 718 SUBJECT INDEX Left-brain function, 102–104 Legal business entity, creating, 248–249 Legal issues for corporations, 245 for existing businesses, 249 for franchising, 281, 283–284 related to interview questions, 644 Lenders, business plan and, 189–190 Letter of credit, 606 Letter of intent, 515 Leveraged buyout (LBO), 665 Leverage ratios, 434 Liability business ownership forms and, 231 in corporations, 244 current, 423, 433 in limited liability company, 247 long-term, 423–424 for partnerships, 240 on projected balance sheet, 431 in sole proprietorships, 236 Licensing, foreign, 598 Life-cycle pricing, 400 Lifestyle centers, 567 Lifestyle Market Analyst, 544 Lifetime gifting, 662 Light-emitting-diode (LED) lights, 578 Lighting, 578 Likejacking, 382 Limited liability company (LLC) articles of organization for, 248 characteristics of, 250 explanation of, 247–248 Limited liability partnerships (LLPs), 243 Limited partners, 239 Limited partnerships characteristics of, 250 explanation of, 239 family, 663–664 Limited private stock offering, 516 Limited time offers (LTOs), 405 Limited-time-only discounts, 393 Line of credit, 519 Liquidity ratios, 432–433 Listening, 120, 124, 327 Loan brokers, 535 Loan or investment proposal, 188 Loans applications for bank, 520–521 commercial, 519 disaster, 527 federal programs offering, 530–532 home equity, 519 installment, 520 intermediate and long-term, 519 margin, 529 peer-to-peer, 535 short-term, 518–519 Small Business Administration, 522–527 term, 521 Local data, 161, 312 Location See also Layout/design city choice and, 551–557 establishing international, 607 of existing businesses, 252, 254 for franchising, 274–275 for manufacturers, 570–572 marketing strategy, 186 moving to new, 556 region choice and, 542–545 for retail and service businesses, 558, 560–570 site choice and, 557–558 state choice and, 545–551 Long Tail, The (Anderson), 217 Long-term liabilities, 423–424 Long-term loans, 519 Loyalty, 372 M Magazines, 161 Main Street buyers, 251 Males, business start-ups and, 19 Malware, 380, 382 Management effective, 55 leadership vs., 625–626 participative, 650 Management succession plans business ownership forms and, 231 buy-sell agreements and, 662 development of, 658–662 estate freeze and, 663 family limited partnership and, 663–664 lifetime gifting and, 662 overview of, 655, 658 trusts and, 662–663 Managing underwriter, 515 Manufacturers for global ventures, 610 layout for, 583–585 location decision for, 570–572 Manufacturer’s export agents (MEAs), 595 Margin loans, 529 Margin (maintenance) call, 529 Markdowns, 404–405, 409 Market claims, documenting, 185 Marketing explanation of, 303 individualized, 310 mobile, 358, 360–361, 362–363, 379 Marketing strategies See also Guerrilla marketing strategies; Strategies in business plan, 184–186, 224 customer-driven, 306 intercept, 296 Market research conducting, 310–313 directories, 312 explanation of, 308 for exporting, 603 for franchising decisions, 286 objective of, 315 sources of, 311–312 value of, 308–310 Market saturation, 280–281 Markup (markon), 406–408, 409 Mashups, 361 Master franchising, 297–298 Materials costs, 395–396 Mentors, 50 Merchant cash advance, 535 Metatags, 365 Me-too products, 397 Metropolitan Statistical Areas (MSAs), 544 Mice, 51 Micro-Business-Friendly Banks in the United States, 520 Microloans, 525 Micromultinationals, 39 Micropolitan areas, 552 Mind mapping, 130–131 Minimal viable product, 170, 171 Minorities business ownership and, 42–43 franchise ownership and, 291, 292 Mission Critical: The Strategic Traps That Derail Even the Smartest Companies (Picken and Dess), 214 Mission statements elements of, 200–201 explanation of, 199–200 guidelines for writing, 201 Mistakes creative power of, 119 fear of, 110 Mobile businesses, 570 Mobile devices, 358, 360–361, 362, 379, 390 Mobile marketing, 38–39, 271–272 Mobile wallets, 417–418 Money market accounts, 494 Moral blindness, ethical lapses and, 70 Moral management benefits of, 65–66 characteristics of, 64–65 Moral stance, ethical standards and, 63 Moral values, business ethics and, 62 Motivation business innovation and, 105 rewards and compensation for, 652–655 Movies, creativity and, 121 Multiple-unit franchising, 297 Multiple unit pricing, 405 Multi-Unit Franchisee magazine, 265 Music, 577 Myopic thinking, 108–109 N Naming your business, 233–234 Natural (organic) listings, 364 Negotiation, of existing business sales, 258–259, 260 Negotiators, successful, 260–261 Neighborhood locations, 565 Neighborhood shopping centers, 565 Net-profit-on-sales ratio, 441–443 Net-profit-to-assets ratio, 443 Net-profit-to-equity ratio, 443 Net-sales-to-total-assets ratio, 441 Networking, 346 New business planning process, 149 New entrant threat, 157 Niches cautions regarding, 159 franchising and, 291 identifying, 158 subscription business model and, 211 Nonessential expenditures, avoiding, 490 Nonprice competition, 391 Nonprofits, social ventures and, 75 Nontariff barriers, 615 Nontraditional locations, 569 North American Free Trade Agreement (NAFTA), 620 O ObamaCare See Affordable Care Act Objectives creating, 212–213 market research, 310 Odd pricing, 400 1/3, 17/3, 17/3 rule of thumb, 247 One-correct-answer syndrome, 106 Online retail sales, U.S., 38 Online videos, 316, 324, 325, 372 Open-air shopping centers, 566 Open-book management, 653 Open rate, 356 Operating agreement, for limited liability companies, 248 Operating costs, within states, 550–551 Operating expenses, 425, 430 Operating lease, 490 Operating leverage, 442 Operating ratios, 438 explanation of, 438 types of, 438–441 Opportunities entrepreneurs and, 32 explanation of, 202 scanning environment for, 202–203 Opportunity pressures, ethical lapses and, 70 Optional-product pricing, 405 Organizational creativity, enhancing, 111–118 Organizational culture, 69, 645, 647–648 Organizational policies and procedures, ethical standards and, 62 Organizational structure, 112–113 Organizations See Businesses Outlet centers, 567 Outsourcing function of, 490, 608 guidelines for, 609–610 Overhead costs, 489 Overpriced businesses, 254–255 Owner’s equity, 423, 424 Ownership forms See Business ownership forms P Paid (sponsored) listings, 366 Pain points, observing, 121, 123 Parallel entrepreneurs, 25 Parking, 562–563 Participative management, 650 Partners dormant, 239 general, 239, 240 law of agency and, 241–242 limited, 239 silent, 239 Partnership agreements disposal of interests in, 240–241 explanation of, 237, 238 Partnerships advantages of, 238–240 disadvantages of, 240–242 explanation of, 237 limited, 239 limited liability, 243 recommendations for, 242–243 Revised Uniform Partnership Act and, 237–238 Part-time employees, hiring, 490 Part-time entrepreneurs, 44–45 Passion, 33, 55, 625 Patents See also Intellectual property applications and issuances, 136 characteristics of, 143 explanation of, 134 legal system and, 143 process to obtain, 135–136 statistics related to, 135 Pay-for-performance compensation systems, 154, 653 Payment, for exports, 606–607 Peer-to-peer loans, 535 Perceptual biases, overcoming, 107 Persistence, creativity and, 122 Personal savings, 500–501 Phishing, 382 Physical barriers, 562 Piggyback franchising, 298 Pivots, types of, 170, 172 Plant patents, 135 Play, 108, 127 Pocket price band, 412–413 Pogo effect, 373 Politics, trade and, 616 Pop-up stores, 559 Positive attitude, maintaining, 55 Potential, entrepreneurs and, 32 Power centers, 566–567 Praise, 654–655 Preparation, as step in creative process, 124 Price lining, 401 Prices/pricing break-even, 411–412 by-product, 406 captive-product, 406 competition and, 390–393 cost-plus, 408–409 cost structure and, 394 delivered, 404 determining, 396 direct costing and, 409–411 dynamic, 401–402 finding right price, 398–399 F.O.B factory, 404 follow-the-leader, 406 freemium, 401 geographic, 403–404 image and, 388–390 impact of credit on, 415–418 leader, 403 life cycle, 400 multiple unit, 405 odd, 400 optional-product, 405 overview of, 386–387 pocket price band, 412–413 premium, 401 price lining, 401 psychology of, 387 reality of setting, 391 suggested retail, 406 value and, 389, 393–396 Price wars, 392, 393 Pricing strategies, 186 competitive advantage in, 195 for established goods and services, 400–406 for manufacturers, 408–412 for new products or services, 397, 399–400 penetration, 397, 399 for retailers, 406–408 for service firms, 412–414 skimming, 399–400 Primary research, 160, 311 Prime rate, 517 Principle-Centered Leadership (Covey), 626 Prism (NSA), 61 Privacy online, 347–348, 378 workplace, 88 Privacy policy, 357, 378 Private investors See Angels Private placements, 530 Problems, viewing as opportunities, 115–116 Processing banks, 415 Process layout, 584 Process measurements, 377 Product distribution franchising, 267 Productive workplace, hallmarks of, 581 Product liability cases, 90 Product (line) layouts, 584 Product lines, 274, 279–280 Product listing ads (PLAs), 367 Product or service feasibility analysis, 159–161 Find more at http://www.downloadslide.com SUBJECT INDEX Product pivot, 170, 172 Products competitive advantage in, 195 evolutionary, 397 for exporting, 603 introducing, 397 me-too, 397 modifying to lower cost, 396 penetration pricing strategy, 397, 399 revolutionary, 397 in smaller sizes or quantities, 395 threat of substitute, 157–158 Professional ethic, ethical standards and, 71 Profitability, impact of pricing and cost improvements on, 386 Profitability ratios explanation of, 441 types of, 441–443 Profit and loss statements See Income statements Profits break-even analysis and, 452–453 cash vs., 463–464 entrepreneurs and, 32 ethical standards and, 65, 66 in franchises, 288 partnerships and, 239 social responsibility and, 77 in sole proprietorships, 235 Profit-sharing plans, 653 Pro forma financial statements, 187 Progressive Grocer, 447 Promotion, 185, 361 See also Advertising ProQuest Statistical Abstract of the United States, 543 Prototypes, 160, 169–170 Psychological barriers, 562 Publicity, 313, 315 Publicly held corporations, 244 Public stock sale explanation of, 513–515 registration process and, 515–516 Purchase order financing, 528 Pure franchising, 267 Puzzle interviews, 643 Q Quality of life city selection and, 557 entrepreneurship and, 35 Quantity discounts, 487 Questions interview, 640, 642 to spur imagination, 111 Quick ratio, 433 Quick-response (QR) codes, 346 Quotas, 615 R Racial markets, 306, 307 Rapid prototyping, 133–134 Ratio analysis example of, 448–449 explanation of, 432 methods for, 432–435, 437–443 Ratios average-collection-period, 439–440 average-inventory-turnover, 438 average-payable-period, 440–441 current, 433 debt, 434–435 debt-to-net-worth, 435 interpreting, 443–450 leverage, 434 liquidity, 432–433 net-profit-on-sales, 441–443 net-profit-to-assets, 443 net-profit-to-equity, 443 net-sales-to-total assets, 441 operating, 438–441 profitability, 441–443 quick, 433 times-interest-earned, 437 trend analysis, 450 Raw materials cost of, 395 proximity to, 546 Reality test, 179 Really simple syndication (RSS), 363 Recruitment/hiring avoiding mistakes in, 538 for creativity, 112 guidelines for, 633–637 interviews and, 639–640, 642–643 job descriptions and job specifications and, 637–639, 641 organizational culture and, 645, 647–650 overview of, 631–632 part-time employees, 490 references and background checks, 643–645 References, employee, 643–645 Refranchising, 296 Regional shopping malls, 567 Region selection, 542–545 See also Location Registration statement, 515 Regulation D (SEC), 516 Regulations, in cities, 554–555 Reilly’s Law of Retail Gravitation, 561–562 Relaxation, creativity and, 122, 127 Remote deposit, 471 Repayment schedule, 188 Reputation, as location decision criteria, 563 Research on international markets, 605 market, 161 See also Market research primary, 160, 311 secondary, 160, 311 sources, 161 windshield, 160–161 Research and development (R&D), 97 Resident buying office, 595 Responsibility, entrepreneurs and, 22 Responsive Web sites, 360 Résumés, 186–187 Retail compatibility, 560 Retailers layout for, 579–582 pop-up, 559 pricing strategies for, 406–408 Retail location competition and, 560 customer traffic and, 562 parking and, 562–563 physical and psychological barriers and, 562 reputation and, 563 retail compatibility and, 560 retail gravitation and, 561–562 saturation and, 560–561 trade area size and, 558, 560 transportation and, 562 visibility and, 563 Retail location options central business district as, 564–565 home-based, 569–570 inside retail stores, 569 near competitors, 568–569 neighborhood factors and, 565 nontraditional, 569 on the road, 570 shared spaces and, 569 shopping centers and malls as, 565–568 “Retired” workers, recruiting, 635 Retirement, foregoing, 36 Return-on-assets ratio, 443 Return on investment, 163–164 Revenue model pivot, 172 Revised Uniform Partnership Act (RUPA), 237–239, 241 Revocable trust, 662 Revolutionary products, 397 Revolving loan funds, 533 Rewards of new venture, 188 for superior service, 329 types of employee, 652–655 Right-brain function, 102–104 Risk of differentiation strategy, 217 entrepreneurs and, 22–23, 30 leadership and, 625 of new venture, 188 Risk capital See Equity capital Risk Management Association (RMA), 427, 428 Risk-return trade-off, 164 RMA Annual Statement Studies, 163 Road show, 516 Rollovers as Business Startups (ROBS), 534–535 Royalty fees, for franchising, 277–278 Rule 504 offering (SEC), 516 Rule 505 offering (SEC), 516 Rule 506 offering (SEC), 516 Rural Development Rural Business Services (Department of Agriculture), 531 S Salaries, 32 Sales forecasts example of, 469 function of, 468 Sarbanes-Oxley Act, 514 Satisfaction, 35–36 Savings-and-loan associations (S&Ls), 529 SBAExpress Program, 526 Scanned checks, 472 Scent, 577–578 Schedule K-1, 240, 246 S corporations advantages of, 245 characteristics of, 250 criteria for, 246 disadvantages of, 246–247 explanation of, 245–246 Searchandising techniques, 371 Search engine optimization (SEO), 364–365 Search engine ranking, 377 Search engines, 345 Search Engine Watch, 367 Seasonal businesses, cash flow management in, 470–471 Secondary research explanation for, 160 sources for, 161 techniques for, 311 Section 504 program (Small Business Administration), 523, 525 Secure Sockets Layer (SSL) technology, 381 Security, online, 347–348, 375, 378, 380–382 Security agreement, 482 Self-employment tax, sole proprietorships and, 235 Self-reliance, entrepreneurs and, 23 Serial entrepreneurs, 25, 251 Servant leadership, 630, 631 Service economy, shift to, 37 Service feasibility analysis See Product or service feasibility analysis Service firms, pricing strategies for, 413–414 Service marks, 143 Services for exporting, 602, 603 threat of substitute, 157–158 Service sector, franchising and, 291 7(a) loan guaranty program, 522 Sexual harassment, 83–87 avoiding charges of, 86 complaint handling, 86 explanation of, 84 hostile environment and, 84 by nonemployees, 84–85 policy, 85 preventing, 85 procedure, 85 quid pro quo harassment, 84 Shipping, exporting and, 606 Shipping terms, 375, 491 Shopping carts, abandoning online, 350–351 Shopping centers, 565–568 Shopping malls, 565–568 Short-term loans, 518–519 Significant competitors, 209 Signs, 575 Silent partners, 239 Site selection, 557–558 See also Location Site Selection magazine, 544 Situational interviews, 640 Skill variety, 651 Skimming pricing strategy, 399–400 Sleep, creativity and, 121 Slow payers, high cost of, 472 Small Business Administration (SBA) loan programs, 522–527 Small businesses analyzing competition for, 183–184, 207–211 avoiding pitfalls of, 53–55 cash flow concerns for, 473, 474 competitive advantage in, 195–197 at core of economy, 18 failure of, 51–52 719 as great place to work, 656–657 identifying key success factors for, 196 power of, 50–51 projected financial statements for, 187, 427–431 research and development in, 97 social responsibility and, 76–77 Small Business Innovation Research (SBIR) program, 532 Small Business Investment Companies (SBICs), 530 Small Business Lending in the United States, 520 Small Loan Advantage program, 526 Social entrepreneurs, 29, 74 Social entrepreneurship, 74–76 Social-local-mobile (SoLoMo) strategies, 360 Social marketing benefits of, 320 embracing, 319–320 percentage of entrepreneurs using, 320 Social media, 303, 346 as guerrilla marketing tool, 319–326 legal issues related to, 644 to locate investors, 499 as primary research source, 311 recruiting job candidates and, 635, 636 retaining customers and, 361, 363–364 security issues related to, 382 Web sites and, 373 Social networking, 363 Social responsibility, 76–77 community and, 92–93 customers and, 88, 90–92 employees and, 78–88 environment and, 78 ethical leaders and, 61 explanation of, 61 investors and, 92 Software encryption, 416 intrusion detection, 380 mobile wallet, 417 Web analytics, 345, 367, 376–377 Sole proprietorships advantages of, 235 characteristics of, 250 disadvantages of, 235–237 explanation of, 235 S-1 filing, 516 Sound, 577 Space values, 582, 583 Spaghetti-style organization, 112–113 Spam, 356 Special events, 325–326 SPLENDID approach to diversity, 81 Stakeholders ethical dilemmas and, 60–61 ethics and conflicting interests of, 67 Standard Industrial Classification (SIC) Code, 427 Start-up companies, percentage of, in United States, 22 Startup Profit and Loss Profile, 428, 429 Statement of cash flows, 426–427 State Oil Company vs Khan, 279 States See also Location best and worst for doing business, 551 business climate in, 547–548 evaluation matrix, 550 high-speed Internet access, 548–550 labor and economic development programs in, 546–547 labor force, 546–547 micropolitan areas within, 552 most and least small-businessfriendly, 548 operating costs in, 550–551 proximity to markets, 545 proximity to raw materials, 546 tax rates in, 548, 549 wage rates in, 546 Steadily decreasing discounts (SDD), 405 Stockbrokers, 529 Stock options, 653 Storefront, 574 Strategic management, 197 Strategic management process analyzing competition in, 207–211 assessing strengths and weaknesses in, 202 creating goals and objectives in, 212–213 creating mission statement and vision in, 198–201 Find more at http://www.downloadslide.com 720 SUBJECT INDEX establishing controls in, 219–223 formulating strategic opinions and selecting strategies in, 213–219 identifying opportunities and threats in, 202, 203, 205 identifying success factors in, 206–207 steps in, 197–198 translating strategic plans into action plans in, 219 Strategic plans building, 193–194 leaders and, 626 Strategies See also Guerrilla marketing strategies; Marketing strategies cost leadership, 215–216 differentiation, 216–217 e-business, 348 for e-success, 354–361, 363–367 explanation of, 213–214 focus, 217–219 Strengths, 202 Stress, 35 Strip shopping centers, 565 Structural capital, 194 Substance abuse, 82–83 Substitute products or services, 157–158 Succession plans See Management succession plans Suggested retail prices, 406 Summary of Commentary on Current Economic Conditions, 183 Superregional shopping malls, 567 Suppliers bargaining power of, 156 for existing businesses, 252 Surcharges, 394–395 Surveys, customer, 160, 311 Sustainability, 578 Sweep account, 494 Symbolics, 577 Synectics, 126 T Talent, hiring best, 633 Target market explanation of, 305 identifying, 185, 305–307 price setting and, 390 Tariffs, 615 Task identity, 651 Task significance, 651 Taxation business ownership forms and, 231 corporations and, 245–247 estate, 661, 663 partnerships and, 240 sole proprietorships and, 235 state variation in, 548, 549 Technology advances See also E-commerce e-commerce and, 349 emphasis on speed and, 336–337 entrepreneurship trends and, 37 to improve customer service, 349–351 Telecommuting, 636, 652 Television test, ethical standards and, 71 Term loans, 521 Territorial protection, franchises and, 275 Testimonials, 357 Test markets, 311 Theft employee, 493–494 of international property, 134 Theme shopping centers, 567 Theory of Economic Development, The (Schumpeter), 21 Thinking convergent, 125 creative, 101–104, 105, 122 divergent, 125 myopic, 108–109 strategic, 197 Threats, 203, 205 Three Rs, socially responsible business owners and, 78 Time compression management (TCM), 336–337 Time management, 50 Times-interest-earned ratio, 437 Topographically Integrated Geographic Encoding Referencing (TIGER) file, 544 Torrance Test of Creative Thinking, 104 Total-asset-turnover ratio, 441 Total debt, 434 Total quality management (TQM), 332 Trade See Global entrepreneurship; International trade barriers Trade associations, 161 Trade credit, 252, 418, 485 Trade dress, 139–140 Trade intermediaries explanation of, 593 resources to locate, 597 types of, 593, 595–596 value of using, 596 Trademarks See also Intellectual property applications, 140 characteristics of, 143 explanation of, 137, 139 fashion industry, 138 franchise, 288 infringement lawsuits, 139 legal system and, 143 registering, 140 right to, 140 statistics related to, 140 symbols, 140 Trade-name franchising, 267 Trade Regulation Rule, 281 Trading area, 558 Training programs See also Education creativity, 116 ethics, 70, 74 franchisee, 269–270, 280, 288 sexual harassment programs, 85 Transformation, as step in creative process, 125–126 Transitions, for existing businesses, 259 Translation services, 358 Transportation, 562 Travel, creativity and, 119 Trends demographic, 307 monitoring, 117 Triple bottom line (3BL), 67 TRIZ, 132–133 Troubled companies, failure rate, 253 Trust building, 357 gap in, 47 leaders and, 627 Trusts, 662–663 Turnover, employee, 632–633 Tweeting, thinking before, 89 U Underwriting agreement, 516 Undiscussables, eliminating, 73 Uniform Commercial Code (UCC), 482 Uniform Franchise Offering Circular (UFOC), 281 Uniform Resource Locators (URLs), 346 Uniqueness, 316 Unique selling proposition (USP), 318, 362 United States, population by race, 2000, 2010, 2020, and 2050, 306 Universities See Colleges/universities Unlimited personal liability, 236 Unprofitable businesses, problems related to, 253 U.S Industrial Outlook Handbook, 183 U.S Statistical Abstract, 543 Utilitarian principle, ethical standards and, 71 Utility patents, 143 V Valley of death, 459 Value company credo and, 73 competitive advantage in, 195–196 ethics and, 66 of existing businesses, 252 leaders and, 626 managing by, 198 pricing and perceived, 387, 388, 389–390, 393 Value menus, 279 Value proposition, 166, 167 Value test, 180 Variable (direct) costing, 409–410 Variable expenses, 451, 452 Variance, 555 Vendor financing, 528 Venture capital companies/venture capitalists corporate, 513 explanation of, 509–510 features of interest to, 511–513 policies and strategies of, 510–511 Verification, as step in creative process, 128 Veterans, franchising opportunities for, 273 Videos, online, 316, 324, 325, 372 Virtual assistants, 351 Virtual order fulfillment, 352 Virus detection software, 380, 381 Visibility, 563 Vision development of, 198–199 leaders and, 626 Visitor segmentation measurements, 376–377 Visual aids, 191 Visual appeal, 577 W Wage rates, within states, 546 Weaknesses, 202 Web analytics, software, 345, 367, 376–377 Web sites See also E-commerce; Internet checkout process on, 374–375 conversion rates of, 379–380 credibility of, 359 design of, 351–353, 367–376, 373–374, 376 global reach of, 358, 592–593 navigation of, 370–371, 373 page abandonment rate vs page load time, 351 performance measures, 377 privacy and security of, 347–348, 378, 380–382 promotion of, 346, 361 responsive, 360 search engines and, 345 social networking and, 363 statistics on, 38–39 testing, 375 tracking results of, 364–366 updated, 375 Whack on the Side of the Head, A (von Oech), 104 Widgets, 363–364 Wikipedia, 363 Wikis, 363 Windshield research, 160–161 Wish lists, 371 Women entrepreneurs, 41–42 Work and life balance, 648 Workforce See also Employees cultural diversity in, 79–82, 649, 650 growth rate for, 632 Working capital ratio, 433 Working hours, 34–35 Workplace, privacy in, 88 Work space creativity and, 115 redesigning, 581 World’s Most Competitive Cities, The, 545 World Trade Organization (WTO), 616, 619–620 World Wide Web See E-commerce; Internet; Web sites Y Young entrepreneurs, 41 Z Zero-balance account (ZBA), 494 Zero-based budgeting (ZBB), 492 Zip code areas, 543 ZIP Code Business Patterns, 553 Zip Code Tabulation Areas (ZCTA), 544 Zipskinny, 543 Zone pricing, 403 Zoning laws, 555 ZoomProspector, 543 ... 70.9 67.3 61 .2 Percentage of Total Population 306 48.4 50.0% 25 .1 25 .0% 14.6 11.7 12. 1 3.8 0.0% 17 .2 12. 5 0.7 0.8 20 10 20 00 White Hispanic Black 0.7 0.8 0.6 0.7 20 20 Asian and Pacific Islander FIGURE... U.S Population by Race, 20 00, 20 10, 20 120 , and 20 50 Source: Based on data from the U.S Census Bureau 7.7 5.6 4.8 0.7 0.7 18.1 15 .2 American Indian, Eskimo, and Aleut 20 50 Other Find more at http://www.downloadslide.com... amounts of money, but it does demand creativity, ingenuity, and an understanding of customers’ LO1 Describe the principles of building a bootstrap marketing plan, and explain the benefits of preparing