Foreword
by Howard H. Stevenson
Introduction
1. Attributes and Skills for LRHR Entrepreneurship
Passion * Curiosity * Work Ethic * Energy * Flexibility * Balance *
Mental Toughness * Egotism * Greed * Building Trust * Integrity *
Creativity * Communications Skills * Salesmanship * Decision Making
2. Numeracy
Company Snapshot * Cash Flow * Product Cost Analysis * Break-even
Analysis * Other Analyses
3. Managing Risk
Thinking About Risk * Mitigating Risk * Staging Risk * Converting
Fixed to Variable Costs * Getting Outside Advice: Mentors, SCORE,
Incubators
4. The Idea
Three Kinds of Ideas * Testing Ideas
. Getting Started
Starting Your Own Company Versus Buying an Existing One * Franchising
* Direct Selling * Best Company Structure * The Business Plan * The
Mission Statement * Getting the Money: Savings, Friends, Family,
Banks, Leasing, Credit Cards, Factors, Venture Capitalists, Angels,
SBA, Barter, Suppliers, Strategic Alliances * Getting the Right People
* Locating Your Business * Insurance * Minorities
6. Building the Company
Planning * Culture * Managing Suppliers * Managing Professionals *
Gaining Credibility: Publicity, Trade on Someone Else's Good Name *
Licensing
7. Building Your Products
Profits * Product Ideas * Product Construction * Packaging * Pricing *
Product Extensions * Product Knock-offs * Barriers to Entry * Product
Testing * Product Timing * Products Introduction * Close-outs
8. Getting the Order
Who Should Sell * Preparing for the Sale * Defining a Sale * Effective
Selling Techniques * Why the Buyer Buys * Using Sales Representatives
* Selling Without a Field-Based Sales Force: Direct Response,
Advertising Internet, Trade Shows
9. The Reorder
Getting Sell-Through * Word of Mouth * Advertising: Co-op Ads,
Multiple Retail Listing Ads, Statement Inserts, Per Inquiry Ads, PR,
Demos * Sales Training * Packaging * Events and Promotion * The Offer
* Keeping the Customer Satisfied: Quality, Instructions, Service *
Managing Your Inventory * Controlling Knock-offs
10. The Reassessment -- "What's Next?"
Defining Success * Five Options: Keeping Company As Is or Shrinking
It, Growing the Company, Going Public, Selling the Company, Closing
the Company * The Checklist
Appendix 1: Creating a Cash Flow Statement
Appendix 2: Attorney Letter re Knockoffs
Appendix 3: The R&R Case
Appendix 4: Interviewees
Acknowledgments
Index
About the Authors
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