In doing so we hope to convey to you the importance of understanding and applying entrepreneurial finance methods and tools to help ensure an entrepreneurial venture is successful. We present a life cycle approach to the teaching of entrepreneurial finance where we cover venture operating and financial decisions faced by the entrepreneur as a venture progresses from an idea through to harvesting the venture. Who is an Entrepreneur? Basic Definitions C. Entrepreneurial Traits or Characteristics D.
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This edition clearly focuses on sound financial management practices, showing students how and where to obtain the financial capital necessary to run and grow a venture. This edition explores the most important financial issues that entrepreneurs face, particularly the stages of financing, business cash flow models, and strategic positioning of the early-stage company. Students gain the knowledge to interact successfully with financial institutions and the regulatory agencies that are central to financing ventures as they grow and, ultimately, look for liquidity for their investors.
A new capstone case and updated mini-cases, as well as engaging entrepreneurial ventures lifted from the latest headlines keep students involved and learning as they examine concepts such as venture capital funds, institutional investors, and strategic alliances. This edition also provides your student with a thorough understanding of the role of business angels, licensing agreements, and exit strategies.
Chris Leach is the W. Leach received his Ph. His teaching experience includes courses for undergraduates, M. A former Graduate Professor of the Year, Dr. Leach has received multiple awards for M. His business background includes various startups dating back to the s. He has also consulted in areas of business and strategic planning advising, valuation and deal structure for early-stage and small businesses.
He is a faculty sponsor for M. Ronald W. He earned his undergraduate, M. Louis, Missouri. While at the University of Colorado, he received several distinguished teaching awards and was designated as a university-wide President's Teaching Scholar. A former president of the Financial Management Association, Dr. Melicher has taught entrepreneurial finance at M. He has delivered numerous university-offered executive education non-credit courses and has taught in-house finance education materials for IBM and other firms.
Melicher has given expert witness testimony on cost of capital in regulatory proceedings and provided consulting expertise in the areas of financial management and firm valuation.
Focusing on mergers and acquisitions, corporate restructurings and the financing and valuation of early-stage firms, his research has been published in such major journals as the Journal of Finance, Journal of Financial and Quantitative Analysis and Financial Management.
Introduction and Overview. From the Idea to the Business Plan. Organizing and Financing a New Venture. Measuring Financial Performance. Evaluating Financial Performance. Types and Costs of Financial Capital. Valuing Early-Stage Ventures. Venture Capital Valuation Methods. Professional Venture Capital. Other Financing Alternatives. Security Structures and Determining Enterprise Values. Harvesting the Business Venture Investment. Financially Troubled Ventures: Turnaround Opportunities? Case 1 Eco-Products, Inc.
Case 2 Coral Systems, Inc. Case 3 Spatial Technology, Inc. Chris Leach Ronald W. New case, Eco-Products, Inc. Students see chapter content put into practice as each entrepreneurial venture relates to concepts presented within the chapter.
You have better examples and cover more relevant content. About the Author J. Chris Leach J. Melicher Ronald W. This edition offers some of the most current information and developments available for this course, enabling you to prepare your students with the latest financial tools and knowledge. Students examine the financial crises, resulting entrepreneurial venture opportunities and effective methods for dealing with tighter capital. Students make early-stage financing decisions, including raising funds through a private placement memorandum, and handling a proposed private placement with an investment firm utilizing a term sheet.
Useful excerpts from the private placement memorandum and term sheet allow you to guide student review and analysis. Each end-of-chapter exercise or problem is now preceded by a brief, italicized description that directs students to the key content or focus of the exercise or problem.
In addition, all problems and mini-cases throughout this edition reflect contemporary dates and timelines.
Entrepreneurial Finance, 4th ed.
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