Notes Midterm 1 - rates, interest rates, unemployment, etc....

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Entrepreneurial Finance Notes Finance – the allocation of scarce resources Simple rules Cash sooner is preferred to cash later Low risky cash is preferred to high risky cash Entrepreneurship – the relentless pursuit of opportunity without regard to resources currently controlled Entrepreneurial Process Identify a good opportunity Gain access to the resources needed Launch the venture Grow the business Exit the business …Repeat if necessary 4 Dynamic Components of any Entrepreneurial Process People Who is involved? What is their experience? Opportunity Can arise from many sources – new product or service, new method of delivery, etc… Is the market large and/or rapidly growing? Who is going after the same opportunity? What are the economics? Context Opportunities exist within a context Macroeconomic environment – economic activity, inflation, exchange
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Unformatted text preview: rates, interest rates, unemployment, etc. Gov rules and regulations tax policy, capital raising rules Deal Many contractual relationships Employees, Investors, Customers, Vendors, Partners Terms are critical (often more than the price) Choose your partners carefully no winners if a dispute arisesexcept lawyers Factors for Business Success Business concept Market Understanding Industry health Strong management Solid business Model Capital Financial Control Consistent Business Focus Ability to Anticipate Change Timing Execution, Execution, Execution Product/Service Feasibility Industry/Market Feasibility.if yes move ahead Organization/Team Feasibility. .if no rethink, reformulate Financial Feasibility. ....
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This note was uploaded on 09/08/2010 for the course PHIL 186 at San Jose State University .

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Notes Midterm 1 - rates, interest rates, unemployment, etc....

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