The Customer-Funded Business

Start, Finance, or Grow Your Company with Your Customers' Cash

Author: John Mullins

Publisher: John Wiley & Sons

ISBN: 1118879139

Category: Business & Economics

Page: 304

View: 4485

Who needs investors? More than two generations ago, the venture capital community – VCs, business angels, incubators and others – convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor. They did so for good reasons: the sometimes astonishing returns they've delivered to their investors and the astonishingly large companies that their ecosystem has created. But the vast majority of fast-growing companies never take any venture capital. So where does the money come from to start and grow their companies? From a much more agreeable and hospitable source, their customers. That's exactly what Michael Dell, Bill Gates and Banana Republic's Mel and Patricia Ziegler did to get their companies up and running and turn them into iconic brands. In The Customer Funded Business, best-selling author John Mullins uncovers five novel approaches that scrappy and innovative 21st century entrepreneurs working in companies large and small have ingeniously adapted from their predecessors like Dell, Gates, and the Zieglers: Matchmaker models (Airbnb) Pay-in-advance models (Threadless) Subscription models (TutorVista) Scarcity models (Vente Privee) Service-to-product models (GoViral) Through the captivating stories of these and other inspiring companies from around the world, Mullins brings to life the five models and identifies the questions that angel or other investors will – and should! – ask of entrepreneurs or corporate innovators seeking to apply them. Drawing on in-depth interviews with entrepreneurs and investors who have actually put these models to use, Mullins goes on to address the key implementation issues that characterize each of the models: when to apply them, how best to apply them, and the pitfalls to watch out for. Whether you're an aspiring entrepreneur lacking the start-up capital you need, an early-stage entrepreneur trying to get your cash-starved venture into take-off mode, an intrapreneur seeking funding within an established company, or an angel investor or mentor who supports high-potential ventures, this book offers the most sure-footed path to starting, financing, or growing your venture. John Mullins is the author of The New Business Road Test and, with Randy Komisar, the widely acclaimed Getting to Plan B.

The Customer-Funded Business

Start, Finance, Or Grow Your Company with Your Customers' Cash

Author: John Mullins

Publisher: John Wiley & Sons

ISBN: 9781118878859

Category: Business & Economics

Page: 304

View: 5046

Provides an overview of business plans that didn't require an influx of cash from a venture capitalist, but rather received money from their customers and describes five ingenious approaches used by innovative entrepreneurs at companies like Threadless, TutorVista and GoViral.

Getting to Plan B

Breaking Through to a Better Business Model

Author: John Mullins,Randy Komisar

Publisher: Harvard Business Press

ISBN: 1422152693

Category: Business & Economics

Page: 224

View: 6393

You have a new venture in mind. And you've crafted a business plan so detailed it's a work of art. Don't get too attached to it. As John Mullins and Randy Komisar explain in Getting to Plan B, new businesses are fraught with uncertainty. To succeed, you must change the plan in real time as the inevitable challenges arise. In fact, studies show that entrepreneurs who stick slavishly to their Plan A stand a greater chance of failing-and that many successful businesses barely resemble their founders' original idea. The authors provide a rigorous process for stress testing your Plan A and determining how to alter it so your business makes money, solves customers' needs, and endures. You'll discover strategies for: -Identifying the leap-of-faith assumptions hidden in your plan -Testing those assumptions and unearthing why the plan might not work -Reconfiguring the five components of your business model-revenue model, gross margin model, operating model, working capital model, and investment model-to create a sounder Plan B. Filled with success stories and cautionary tales, this book offers real cases illustrating the authors' unique process. Whether your idea is for a start-up or a new business unit within your organization, Getting to Plan B contains the road map you need to reach success.

The New Business Road Test

What entrepreneurs and investors should do before launching a lean start-up

Author: John Mullins

Publisher: Pearson UK

ISBN: 1292208414

Category: Business & Economics

Page: 360

View: 2179

ROAD TEST YOUR IDEA BEFORE YOU LAUNCH YOUR LEAN START-UP Thinking about starting a new business? Stop! Is there a genuine market for your idea? Do you really want to compete in that industry? Are you the right person to pursue it? No matter how talented you are or how much capital you have, if you’re pursuing a fundamentally flawed opportunity then you’re heading for failure. So before you launch your lean start-up, take your idea for a test drive and make sure it has a fighting chance of working. Now in its fifth edition, The New Business Road Test is the essential handbook for anyone wanting to launch a start-up. The new and fully updated case studies – Ella's Kitchen, Whole Foods, eBay and more – and ‘seven domains’ framework will help you avoid impending disaster and enhance your chances of achieving your entrepreneurial dreams. This book will help you answer the live-or-die questions: · Are the market and industry attractive? · Does the opportunity offer both customer benefits as well as competitive and economic sustainability? · Can you deliver the results you seek? The accompanying app (available on iTunes and Android) makes it easy to assemble all the evidence you need for your road test, wherever you are. www.newbusinessroadtest.com

Angel Financing for Entrepreneurs

Early-Stage Funding for Long-Term Success

Author: Susan L. Preston

Publisher: John Wiley & Sons

ISBN: 9781118047286

Category: Business & Economics

Page: 384

View: 9021

Angel Financing for Entrepreneurs will give you the information you need to understand how angel investors think, as well as how to identify investor expectations, understand the investment analysis process, and prepare for post-investment requirements. Written by Susan Preston, an experienced angel investor, worldwide speaker and consultant on angel financing, and former Kauffman Foundation Entrepreneur-in-Residence, this hands-on resource, explains the factors that determine how private equity investors spend their money and what they expect from entrepreneurs. For example: Most venture capitalists do not invest in seed or start-up financing rounds Investors typically require seasoned management, with successful start-up experience Investors are looking for entrepreneurs with passion for their ideas and the willingness to take and apply sound advice Business plans must be well-written with detailed financial projections that extend 3–5 years Investors are looking for a clear path to profitability in the business model Entrepreneurs must have developed a corporate structure that is clean and uncomplicated And much more

Funded

The Entrepreneur's Guide to Raising Your First Round

Author: Katherine Hague

Publisher: "O'Reilly Media, Inc."

ISBN: 1491940212

Category: Business & Economics

Page: 174

View: 543

The venture capital world is often intimidating and hard to navigate, even for the most seasoned entrepreneurs. But it doesn’t have to be. Entrepreneurs who run effective fundraising processes don’t do it by accident. With this book, you’ll learn what it takes to successfully raise a round of funding for your company. Author Katherine Hague explains how the venture capital industry works, and walks you through each step necessary to plan, execute, and optimize your own fundraising round. Packed full of exercises, checklists, and templates, this book guides you through the process from start to finish. It’s ideal for entrepreneurs raising later rounds of capital, as well as those just starting out. Gain an understanding of core venture capital concepts and standards Learn how to develop and hone an investor pitch Come away with a plan to hit the fundraising trail for your company Develop the confidence you need to negotiate key terms in a funding deal Understand best practices in fundraising, and learn how to avoid the top 10 fundraising mistakes

The Customer-Funded Business: Start, Finance, or Grow Your Company with Your Customers' Cash

Book Review

Author: PCC

Publisher: PCC

ISBN: 8869096629

Category: Business & Economics

Page: N.A

View: 8167

Who needs investors? More than two generations ago, the venture capital community– VCs, business angels, incubators and others –convinced the entrepreneurial world that writing business plans andraising venture capital constituted the twin centerpieces ofentrepreneurial endeavor. They did so for good reasons: thesometimes astonishing returns they've delivered to their investorsand the astonishingly large companies that their ecosystem hascreated. But the vast majority of fast-growing companies never takeany venture capital. So where does the money come from to startand grow their companies? From a much more agreeable and hospitablesource, their customers. That's exactly what Michael Dell, BillGates and Banana Republic's Mel and Patricia Ziegler did to gettheir companies up and running and turn them into iconicbrands. In The Customer Funded Business, best-selling author JohnMullins uncovers five novel approaches that scrappy and innovative21st century entrepreneurs working in companies large and smallhave ingeniously adapted from their predecessors like Dell, Gates,and the Zieglers: Matchmaker models (Airbnb) Pay-in-advance models (Threadless) Subscription models (TutorVista) Scarcity models (Vente Privee) Service-to-product models (GoViral) Through the captivating stories of these and other inspiringcompanies from around the world, Mullins brings to life the fivemodels and identifies the questions that angel or other investorswill – and should! – ask of entrepreneurs or corporateinnovators seeking to apply them. Drawing on in-depth interviewswith entrepreneurs and investors who have actually put these modelsto use, Mullins goes on to address the key implementation issuesthat characterize each of the models: when to apply them, how bestto apply them, and the pitfalls to watch out for. Whether you're an aspiring entrepreneur lacking the start-upcapital you need, an early-stage entrepreneur trying to get yourcash-starved venture into take-off mode, an intrapreneur seekingfunding within an established company, or an angel investor ormentor who supports high-potential ventures, this book offers themost sure-footed path to starting, financing, or growingyour venture. John Mullins is the author of The New Business Road Testand, with Randy Komisar, the widely acclaimed Getting to PlanB.

Here's the Pitch

How to Pitch Your Business to Anyone, Get Funded, and Win Clients

Author: Martin Soorjoo

Publisher: John Wiley & Sons

ISBN: 1118238842

Category: Business & Economics

Page: 256

View: 2948

Advice for every pitch situation a modern day entrepreneur will encounter Whether you're pitching for funding, the media, or to potential customers and partners, to survive and succeed as an entrepreneur, you have to know how to deliver a high-impact pitch. Here's the Pitch reveals powerful proven techniques to get your audience to take the action you want. You'll learn the same strategies and tactics that have been used by entrepreneurs to raise millions of dollars, secure partnerships, and win big sales contracts. Here's the Pitch provides advice for every possible pitch situation, including virtual and Web 2.0 pitches. This book: Demonstrates proven, effective pitch techniques Offers step-by-step advice for preparing your pitch Helps you develop a confident, winning mind-set Examines a range of pitch scenarios entrepreneurs frequently encounter Don't lose out on your next big sale, bid for exposure, or investment proposal for lack of skills. Here's the Pitch provides a complete toolkit that will enable you to deliver a confident, engaging, and successful pitch.

Get Funded!

Author: Naeem Zafar

Publisher: Roundtree Press

ISBN: 9781937359072

Category: Business & Economics

Page: 200

View: 9397

A complete guide for entrepreneurs on acquiring funding explains the necessary knowledge required for new and established ventures, listing hundreds of angel investors and venture capital firms while sharing to-the-point strategies for every stage of the funding process.

The Startup Funding Book

Author: Nicolaj Højer Nielsen

Publisher: Nhn Ventures APS

ISBN: 9788799990207

Category:

Page: 262

View: 4970

This book reveals: * Where to to find investors and the best approaches to win their support * What investors are really looking for but won't tell you * How to persuade banks, business angels, VCs and public funders * Insider tips for compiling material that satisfies investors * Little-known strategies that will boost your success

The Startup Way

How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth

Author: Eric Ries

Publisher: Currency

ISBN: 110190321X

Category: Business & Economics

Page: 400

View: 8607

Entrepreneur and bestselling author of The Lean Startup, Eric Ries reveals how entrepreneurial principles can be used by businesses of all kinds, ranging from established companies to early-stage startups, to grow revenues, drive innovation, and transform themselves into truly modern organizations, poised to take advantage of the enormous opportunities of the twenty-first century. In The Lean Startup, Eric Ries laid out the practices of successful startups – building a minimal viable product, customer-focused and scientific testing based on a build-measure-learn method of continuous innovation, and deciding whether to persevere or pivot. In The Startup Way, he turns his attention to an entirely new group of organizations: established enterprises like iconic multinationals GE and Toyota, tech titans like Amazon and Facebook, and the next generation of Silicon Valley upstarts like Airbnb and Twilio. Drawing on his experiences over the past five years working with these organizations, as well as nonprofits, NGOs, and governments, Ries lays out a system of entrepreneurial management that leads organizations of all sizes and from every industry to sustainable growth and long-term impact. Filled with in-the-field stories, insights, and tools, The Startup Way is an essential road map for any organization navigating the uncertain waters of the century ahead.

The Founder's Dilemmas

Anticipating and Avoiding the Pitfalls That Can Sink a Startup

Author: Noam Wasserman

Publisher: Princeton University Press

ISBN: 1400841933

Category: Business & Economics

Page: 496

View: 6960

Often downplayed in the excitement of starting up a new business venture is one of the most important decisions entrepreneurs will face: should they go it alone, or bring in cofounders, hires, and investors to help build the business? More than just financial rewards are at stake. Friendships and relationships can suffer. Bad decisions at the inception of a promising venture lay the foundations for its eventual ruin. The Founder's Dilemmas is the first book to examine the early decisions by entrepreneurs that can make or break a startup and its team. Drawing on a decade of research, Noam Wasserman reveals the common pitfalls founders face and how to avoid them. He looks at whether it is a good idea to cofound with friends or relatives, how and when to split the equity within the founding team, and how to recognize when a successful founder-CEO should exit or be fired. Wasserman explains how to anticipate, avoid, or recover from disastrous mistakes that can splinter a founding team, strip founders of control, and leave founders without a financial payoff for their hard work and innovative ideas. He highlights the need at each step to strike a careful balance between controlling the startup and attracting the best resources to grow it, and demonstrates why the easy short-term choice is often the most perilous in the long term. The Founder's Dilemmas draws on the inside stories of founders like Evan Williams of Twitter and Tim Westergren of Pandora, while mining quantitative data on almost ten thousand founders. People problems are the leading cause of failure in startups. This book offers solutions.

Bootstrapping Your Business

Start and Grow a Successful Company with Almost No Money

Author: Greg Gianforte,Marcus Gibson

Publisher: Createspace Independent Pub

ISBN: 9781419669552

Category: Business & Economics

Page: 258

View: 1003

Greg Gianforte, the nation's top Bootstrapper, shows you the advantages of Bootstrapping vs. traditionally financed start-ups. You'll also learn how the unconventional Bootstrapping mindset-inventive, pioneering, and skeptical of conventional wisdom-applies to you and your business. With Bootstrapping Your Business at your side, you'll gain the advantage you need to outperform the competition-and succeed in today's take-no-prisoners marketplace.

Uncommon Service

How to Win by Putting Customers at the Core of Your Business

Author: Frances Frei,Anne Morriss

Publisher: Harvard Business Press

ISBN: 1422133311

Category: Business & Economics

Page: 247

View: 8242

Offers an organizational design model for service organizations, covering such topics as funding mechanisms, employee management systems, and customer management systems.

Raise Capital on Your Own Terms

How to Fund Your Business without Selling Your Soul

Author: Jenny Kassan

Publisher: Berrett-Koehler Publishers

ISBN: 1523084731

Category: Business & Economics

Page: 240

View: 5325

Fund and Fuel Your Dreams! You're an entrepreneur with a great idea. But your business needs money. So, do you max out your credit cards, borrow from friends and family, and do everything yourself? Or do you make a devil's bargain with some venture capitalist who'll demand a tenfold return and could easily take your business out from under you? No and no! You don't have to bootstrap, and you don't have to sell out! Jenny Kassan says the landscape of investment capital is far larger and more diverse than most people realize. She illuminates the vast range of capital-raising strategies available to mission-driven entrepreneurs and provides a six-step process for finding and enlisting investors who are a match with your personal goals and aspirations. The plan you create will inspire you, excite you, and help you achieve your dreams!

The Monk and the Riddle

The Art of Creating a Life While Making a Living

Author: Randy Komisar,Kent L. Lineback

Publisher: Harvard Business Press

ISBN: 9781578516445

Category: Business & Economics

Page: 181

View: 3011

What would you be willing to do for the rest of your life...' It's a question most of us consider only hypothetically-opting instead to "do what we have to do" to earn a living. But in the critically acclaimed bestseller "The Monk and the Riddle", entrepreneurial sage Randy Komisar asks us to answer it for real. The book's timeless advice - to make work pay not just in cash, but in experience, satisfaction, and joy - will be embraced by anyone who wants success to come not just from what they do, but from who they are.At once a fictional tale of Komisar's encounters with a would-be entrepreneur and a personal account of how Komisar found meaning not in work's rewards but in work itself, the book illustrates what's wrong with the mainstream thinking that we should sacrifice our lives to make a living. Described by Fortune.com as "part personal essay, part fictional narrative and part meditation on the nature of work and life," "The Monk and the Riddle" is essential reading on the art of creating a life while making a living. 'Belongs in a category by itself...The best thing I've read all year' - "San Francisco Examiner". 'A timely book' - "USA Today". 'A self-help manual and business fable rolled into one' - "The Times, London".

From Impossible To Inevitable

How Hyper-Growth Companies Create Predictable Revenue

Author: Aaron Ross,Jason Lemkin

Publisher: John Wiley & Sons

ISBN: 111916673X

Category: Business & Economics

Page: 320

View: 8219

Impossible Goals, Inevitable Successes Why are you struggling to grow your business when everyone else seems to be crushing their goals? If you needed to triple revenue within the next three years, would you know exactly how to do it? Doubling the size of your business, tripling it, even growing ten times larger isn’t about magic. It’s not about privileges, luck, or working harder. There’s a template that the world’s fastest growing companies follow to achieve and sustain much, much faster growth. From Impossible to Inevitable details the hypergrowth playbook of companies like the record-breaking Zenefits (which skyrocketed from $1 million to $100 million in two years), Salesforce.com (the fastest growing multibillion dollar software company), and EchoSign—aka Adobe Document Services—(which catapulted from $0 to $144 million in seven years). Whether you have a $1 billion or a $100,000 business, you can use the same insights as these notable companies to learn what it really takes to break your own revenue records. For instance, one of the authors shows how he grew his income from $67,000 to $720,000 in four years while maintaining a 20-30 hour work week and welcoming a new child—nine times. This book shows you how to surpass plateaus and get off of the up-and-down revenue rollercoaster by answering three questions about growing revenue to tens times its size: Why aren’t you growing faster? What does it take to get to hypergrowth? How do you sustain growth? This powerful, effective book provides a template for you to kick off your biggest growth spurt yet. This template includes The 7 Ingredients Of Hypergrowth: You’re not ready to grow until you Nail a Niche. Overnight success is a fairy tale. You’re not going to be magically discovered. You need sustainable systems that Create Predictable Pipeline. Growth exposes your weaknesses and it will cause more problems than it solves—until you Make Sales Scalable. It’s hard to build a big business out of small deals. Figure out how to Double Your Dealsize. It’ll take years longer than you want, but don’t quit too soon. Make sure you can Do the Time. Your people are renting, not owning their jobs. Develop a culture of initiative, not adequacy by Embracing Employee Ownership. Employees, you are too accepting of “reality” and too eager to quit. You can Define Your Destiny to make a difference, for yourself and your company, no matter what you do or where you work. The authors take each ingredient and break it down into specific steps to guide you through implementation. From Impossible to Inevitable helps you take impossible goals and turn them into inevitable successes for your business and team. You will achieve success even bigger than you can imagine from where you’re sitting today.

How to Write a Great Business Plan

Author: William A. Sahlman

Publisher: Harvard Business Review Press

ISBN: 1633691314

Category: Business & Economics

Page: 72

View: 6045

Judging by all the hoopla surrounding business plans, you'd think the only things standing between would-be entrepreneurs and spectacular success are glossy five-color charts, bundles of meticulous-looking spreadsheets, and decades of month-by-month financial projections. Yet nothing could be further from the truth. In fact, often the more elaborately crafted a business plan, the more likely the venture is to flop. Why? Most plans waste too much ink on numbers and devote too little to information that really matters to investors. The result? Investors discount them. In How to Write a Great Business Plan, William A. Sahlman shows how to avoid this all-too-common mistake by ensuring that your plan assesses the factors critical to every new venture: · The people—the individuals launching and leading the venture and outside parties providing key services or important resources · The opportunity—what the business will sell and to whom, and whether the venture can grow and how fast · The context—the regulatory environment, interest rates, demographic trends, and other forces shaping the venture's fate · Risk and reward—what can go wrong and right, and how the entrepreneurial team will respond Timely in this age of innovation, How to Write a Great Business Plan helps you give your new venture the best possible chances for success.

The Everything Store

Jeff Bezos and the Age of Amazon

Author: Brad Stone

Publisher: Little, Brown

ISBN: 0316219258

Category: Business & Economics

Page: 384

View: 8054

"An immersive play-by-play of the company's ascent.... It's hard to imagine a better retelling of the Amazon origin story." -- Laura Bennett, New Republic Amazon.com's visionary founder, Jeff Bezos, wasn't content with being a bookseller. He wanted Amazon to become the everything store, offering limitless selection and seductive convenience at disruptively low prices. To do so, he developed a corporate culture of relentless ambition and secrecy that's never been cracked. Until now. Brad Stone enjoyed unprecedented access to current and former Amazon employees and Bezos family members, and his book is the first in-depth, fly-on-the-wall account of life at Amazon. The Everything Store is the book that the business world can't stop talking about, the revealing, definitive biography of the company that placed one of the first and largest bets on the Internet and forever changed the way we shop and read.