AB_New_team_Getting financing or funding

AB_New_team_Getting financing or funding - Important...

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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Important announcements October 27th: Second mid term exam. Chapters 6-10. November 03th: Second assignment due.
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Definition of entrepreneurship “It is the process of recognizing, seizing, pursuing and exploiting opportunities without regard of the resources you currently control” Opportunity: is a favorable set of circumstances that creates a need for a new product, service, or business.
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu New Venture Team - Getting financing or funding GEB 4113 Armando Borda R. Abord001@fiu.edu
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Building a New venture team What is better a to start a firm on their own or to build an initial founding team? Why? Factors affecting the value of a team in starting a new venture: Positive: Teams that have worked together before. Teams that are heterogeneous. Negative: Team members may not get along. Potential conflicts associated to formal power.
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Building a New venture team Relevant qualities of the founder: Level of education? Prior entrepreneurial experience? Relevant industry experience? Network?
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Building a New venture team Importance of the board of directors: Provide guidance. Lend Legitimacy. Signaling. Board of advisors. What is a board of directors?: “It is a panel of individuals who are elected by a corporation`s shareholders to oversee the management of the firm”.
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Copyright © Florida International University, Miami, FL 33199 www.entrepreneurship.fiu.edu Why most new ventures need funding? Cash flow challenges.
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This note was uploaded on 03/05/2011 for the course ENT 4113 taught by Professor Borda during the Spring '10 term at FIU.

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AB_New_team_Getting financing or funding - Important...

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