MGMT 3000 Test 2 Notes

MGMT 3000 Test 2 Notes - Entrepreneurs usually age 22-45...

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Entrepreneurs – usually age 22-45 SBA – Small Business Administration Small Business 500 or fewer employees Independently owned and operated Not the dominant force in its industry 99% of businesses in U.S. 87% of businesses employ fewer than 20 individuals 60-80% of new businesses fail within 5 years Small business failure is rarely due to an initial lack of capital Family Businesses Owned and financially controlled by family members Family Firm Institute, Inc. (FFI) o Family businesses create 78% of new jobs o Family businesses provide 60% of U.S. employment Biggest problem is succession o 66% plan on keeping business in the family o 30% actually survive to the second generation o 12% last to the third generation o Only 3% last beyond the third generation Business plan – document summarizing strategies and structure Goals Strategies Implementation Exit strategy
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Great ideas vs. business opportunities Entreprenuer.com Partnership Letter of intent Partnership Agreement o Turf Links o Inflatable Frameless Dome Credit Line National Venture Capitalist Association (NVCA) MaxLinear, Inc. – 382.71% increase in first 1 st year after IPO Duoyuan Printing, Inc. – 67.76% decrease in 1 st year after IPO Google – 27 billion IPO to 140 billion in 5 years – stock currently at $618 Valuation Business.com – Business Valuation in 3 days for $399 SCORE: How to Value a Business o Asset Based Approach Value based on cost to replace current assets in like-kind condition
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This note was uploaded on 05/26/2011 for the course MGMT 3000 taught by Professor Roberthirschfeld during the Spring '08 term at UGA.

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MGMT 3000 Test 2 Notes - Entrepreneurs usually age 22-45...

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