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Kap10primerentrepreneuruka

Kap10primerentrepreneuruka - Prof.Dr.UlrichKaiser...

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A primer in Entrepreneurship Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich Spring semester 2008
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Chapter 10: Getting Funding or Financing Table of Contents I. The Importance of Getting Financing or Funding II. Sources of Equity Funding III. Sources of Debt Financing IV. Creative Sources of Financing and Funding University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 2
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I. The Importance of Getting Financing or Funding A Why Most New Ventures Need Funding The Nature of the Funding and Financing Process Few people deal with the process of raising investment capital until they A. Why Most New Ventures Need Funding need to raise capital for their own firm. As a result, many entrepreneurs go about the task of raising capital haphazardly because they lack experience in this area haphazardly because they lack experience in this area. Why Most New Ventures Need Funding… next slide University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 3
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I. The Importance of Getting Financing or Funding A Why Most New Ventures Need Funding A. Why Most New Ventures Need Funding University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 4
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I. The Importance of Getting Financing or B. Source of Personal Financing Funding Personal Funds Equity Capital Alternatives for Raising Money for a Start Up Firm Debt Financing Other (Creative) Sources University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 5
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I. The Importance of Getting Financing or B. Source of Personal Financing Funding 1. Typically, the seed money that gets a company off the ground comes from the founders themselves—from their personal savings, mortgages, and credit cards and by tapping into the cash value of life insurance and credit cards, and by tapping into the cash value of life insurance. 2. Friends and family are the second source of funds for many new ventures This form of contribution often comes as loans or investments ventures. This form of contribution often comes as loans or investments, but can also involve outright gifts, forgone or delayed compensation, or reduced fees or rent. 3. Another source of seed money for new ventures is referred to as “bootstrapping”. Bootstrapping is the use of creativity, ingenuity, and any means possible to obtain resources other than borrowing money or raising capital from traditional sources. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 6
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I. The Importance of Getting Financing or Bootstrapping Funding Buying used instead of new equipment Coordinating purchases with other businesses Leasing equipment instead of buying Obtaining payments in
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