Contents
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 5. 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