Books

Philip J. Adelman & Alan M. Marks, Entrepreneurial Finance (6th ed. 2013).

Abstract (from publisher)For many, starting a business can be an overwhelming experience. Understanding the financial aspects of running a business can be even more daunting. Entrepreneurial Finance, Sixth Edition was written to help a broad range of U.S. business owners understand the financial aspects of entrepreneurship. Unlike traditional corporate finance books, this text explains the financial topics most important to running a profitable small business such as inventory control, time value of money, working capital management, and forecasting. Updated to reflect recent economic trends, this edition also shows how two popular business tools (excel and TI BA II Plus calculator) can assist business owners in problem-solving and decision-making.

Judith Albers & Thomas R. Moebus, Entrepreneurship in New York: The Mismatch between Venture Capital and Academic R&D (2014).

Abstract (from opensuny.org):  The Entrepreneurship in New York study is a joint venture of the SUNY Levin Institute, the Research Foundation of SUNY, and SUNY Geneseo. This study shows that New York now commands a larger share of national venture investment than in past studies. Although, within this picture a significant disconnect is revealed. New York’s strong performance in academic R&D in the sciences stands in contrast with the relatively modest amounts of private investment available to move these innovations forward commercially. In 2012, 85% of the venture capital invested in New York State firms was invested in information technology and creative and commerce services, while 15% was invested in the life and physical sciences. By contrast, 89% of academic R&D expenditures in New York State were in the life and physical sciences, with only small amounts invested in IT.

Ralph Alterowitz & John Zonderman, FINANCING YOUR NEW OR GROWING BUSINESS : HOW TO FIND AND GET CAPITAL FOR YOUR VENTURE (2002).

Abstract (from publisher):  This book is a comprehensive look at dozens of options for financing a new or growing company. It discusses how to obtain financing through each route and the benefits of each method.

Ralph Alterowitz & John Zonderman, FINANCING YOUR BUSINESS MADE EASY (2007).

Abstract (from publisher):  Financing Your Business Made Easy offers myriad ideas to get financing. The authors discuss the benefits and pitfalls of borrowing from family and friends, with tips on how to keep business relationships separate from personal ones. Dozens of government loan sources are explained in detail. Drawing on their insider knowledge of venture capital firms and angel investors, the authors reveal how to maximize your chances of success. Plus, they provide innovative financing ideas, such as borrowing from suppliers and customers, taking advantage of credit cards, and raising money from employees.

David B. Audretsch & Albert N. Link, Valuing an Entrepreneurial Enterprise (2012).

Abstract (adapted from publisher): Entrepreneurs generally lack the marketing capabilities necessary to bring their new product to market. To engage the resources required to do this, they must somehow place a value on the enterprise. However, all of the methods of valuation currently available are based on the use of historical or current revenues, and therefore are not applicable to an entrepreneurial enterprise with a first-time product. In Valuing an Entrepreneurial Enterprise, Audretsch and Link present a valuation method uniquely tailored to emerging technology-based ventures that have no revenue history to lean on. Unlike many traditional methods, theirs does not take into account the track record of companies and products similar to that being valuated. Instead, it draws on economic theory to formulate a solution to the problem. The book develops conceptual ground, including trends in entrepreneurship, models of innovation, and the economics of standards and entrepreneurship policy. The authors review the traditional valuation methods and illustrate them numerically with case studies to show how the traditional approach produces an incorrect valuation. The core of the book presents the new methodology and demonstrates how it avoids the pitfalls of past approaches. The authors also show how public policy on technology and infrastructure changes valuations of start-up firms in areas such as stem-cell products and renewable fuels projects.  

Gerald W. Barney, Street-Smart Guide to Valuing Business Investments: A Practical Guide to Value for Business Owners, Entrepreneurs, Angel Investors, VC Investors, and Business Buyers (2013).

Abstract (from publisher)This book cuts through the mystery of business valuation, and provides practical advice to business owners, investors, entrepreneurs and business buyers. The author and his partners have approximately a combined 200 years of experience in dealing with business valuation issues, both for the tax-related, and investment-oriented purposes as well as many years of entrepreneurial management experience. It deals extensively with valuation of start-ups and emerging companies with an orientation toward angel investors and Venture Capital. But it also of equal value to one who wants to buy or sell a business. It covers other related aspects such as Intellectual Property, ESOPs, 401k equity investments, and problem solving in the transaction phase. It contains Street-Smart Tip boxes which will help the reader to focus on key advice. In short -- it is a "must have" book for virtually everyone dealing in the arena of privately held businesses, and those who would like to go public.

Ian R. Campbell & Howard E. Johnson, THE VALUATION OF BUSINESS INTERESTS (2001).

Abstract (from product description at Amazon.com): A comprehensive resource for valuation practitioners, financial advisors, financial officers and others involved in business valuations, acquisitions and divestitures.

Alejandro Cremades, The Art of Startup Fundraising: Pitching Investors, Negotiating the Deal and Everything Else Entrepreneurs Need to Know (2016).

Abstract (adapted from publisher):  New regulations are making the old go-to advice less relevant, as startup money is increasingly moving online. This book helps you navigate the online world of startup fundraising with easy-to-follow explanations and expert perspective on the new digital world of finance. You will find tips and tricks on raising money and investing in startups from early stage to growth stage, and develop a clear strategy based on the new realities surrounding today's startup landscape.

Additionally, the finance world is in a massive state of flux. Changes are occurring at an increasing pace in all sectors, but few more intensely than the startup sphere. When the paradigm changes, processes must change with it. This book will help the aspiring entrepreneur learn how the JOBS Act impacts the fundraising model; gain insight on startups from early stage to growth stage; find the money needed to get a venture going; craft pitches and optimize strategies and identify the right investors.

 

William H. Draper, The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs (2011).

Abstract (adapted from Amazon.com): Entrepreneurs drive the future, and the last several decades have been a thrilling ride of astounding, far-reaching innovation. Behind this transformative progress are also the venture capitalists—who are at once the investors, coaches and allies of the entrepreneurs. William H. Draper III knows this story first-hand, because as a venture capitalist, he helped write it.  For more than 40 years, Bill Draper has worked with top entrepreneurs in fabled Silicon Valley, where today’s vision is made into tomorrow’s reality.

From a venture capitalist who saw the potential of Skype, Apollo Computer, Hotmail, OpenTable, and many other companies, comes firsthand stories of success. In these pages, Draper explores how to evaluate innovative ideas and the entrepreneurs behind those ideas, and he shares lessons from Yahoo, Zappos, Baidu, Tesla Motors, Activision, Measurex, and more. Also, in revealing his on-the-ground account of how Deng Xiaoping brought China roaring into the modern world and how Manmohan Singh unlocked the creative genius of Indian entrepreneurs, Draper stresses the essential value of farsighted political leadership in creating opportunity.

Entrepreneurship, Finance, Governance & Ethics (Robert Cressy et al. eds. 2013).

Abstract (from publisher): This book spans topics at the intersection of business ethics and governance as they pertain to entrepreneurship and finance. To the Editors’ knowledge it is the first collection of papers linking entrepreneurship and finance to governance and business ethics, rather than exploring these issues separately. The chapters identify empirically the strong interplay between ethics in organizational efficiency and financial activity, and the role of legal settings and governance in facilitating better ethical standards. The chapters explore novel and timely topics, particularly in the context of the recent financial crisis and the subsequent debate over regulating unethical behavior. This book finally encourages future scholars to investigate the role of law and governance in mitigating corruption and fostering integrity in the fields of entrepreneurship and finance.

FINANCING ECONOMIC DEVELOPMENT IN THE 21ST CENTURY (Sammis B. White, Robert D. Bingham & Edward W. Hill eds., 2003).

Abstract (from product description at Amazon.com):   This book offers a comprehensive survey of the major mechanisms for financing economic development today. It explores the details of all the standard developmental tools, such as Tax Incremental Finance districts, angel and venture capital, and tax abatements, as well as newer tools that have proven effective, including micro-enterprise lending, stadium financing, brownfield financing, and revolving loan funds. Tools for rural development finance are also covered, and in addition to describing the various programs and providing examples of how they work, the book also evaluates their relative effectiveness.

David Frodsham & Heinrich Liechtenstein, Getting Between the Sheets: The Four Things Every Entrepreneur Should Know about Finance (2011).

Abstract (adapted from Amazon.com): For many entrepreneurs there is a mystique about finance -starting, growing and selling new ventures is tough enough. Yet with some focused financial knowledge you can run your company with less cash, grow it more quickly and make more money when it is sold. This book makes the dry world of finance easy to understand and relevant to entrepreneurs.

Paul Getty, Dinesh Gupta & Robert R. Kaplan, Regulation A+: How the JOBS Act Creates Opportunities for Entrepreneurs and Investors (2015).

 

Abstract (adapted from publisher): This book covers how to raise money under the SEC’s long-awaited

Regulation A+ implementing Title IV of the JOBS Act, and provides a guide to Regulation A+ for executives

of emerging growth companies, entrepreneurs, financial advisers, venture capitalists, investment bankers,

securities lawyers, and finance and MBA students. Regulation A+ lifts many of the constraints on soliciting

funds, raising growth capital through public offerings, and trading new stock issues that until now

inhibited the growth of small companies.

 

This book also explains how Title IV of the JOBS Act amends Regulation A+, making it easier to raise up to

$50 million in expansion capital while avoiding burdensome regulations; how raising funds through

Regulation A+ might now be a better and less costly choice for raising capital than current options (like

loans or venture capital); how to use Regulation A+ to gain liquidity for your business, your employees, and

your investors -- while maintaining control; how to abide by Regulation A rules before, during, and after an

IPO; what kinds of businesses can take part in Regulation A+ offerings; and how and where to trade shares

after the IPO.

 

David Alan Grier, Crowdsourcing for Dummies (2013).

Abstract (adapted from publisher)This book will teach you to Plan and launch your crowdsourcing project; find the right platform for your needs; promote your project and attract the right audience; manage and motivate your crowd to get the best results; and learn how to harness people power. In Crowdsourcing For Dummies, David Alan Grier demonstrates how you can tap into the power of the crowd. Discover how to use crowdsourcing to solve complex business problems and complete difficult tasks, supercharge innovation and new product development, build brand identity and boost productivity and profits.

Katherine Hague, Funded: The Entrepreneur’s Guide to Raising Your First Round (2016).

Abstract (from publisher): Entrepreneurs often struggle to raise their first round of financing, and even those

who do raise funds often make mistakes early on. This book uses real-life case studies to explain key startup

financing concepts that are generally misunderstood. The reader will learn how the process really works, and how

these deals are successfully completed.

 

Daniel Hjorth, ENTREPRENEURSHIP AND ORGANIZATION: POLITICS, PASSION, AND CREATION (2010).

Product Description (from Amazon):  Working from a unique standpoint and challenging the orthodoxy on entrepreneurship this book explores the possibilities of entrepreneurship in organizations and entrepreneurship in organization creation whilst re-anchoring entrepreneurship within a broader disciplinary approach.

Chris Hurn, The Entrepreneur’s Secret to Creating Wealth: How the Smartest Business Owners Build Their Fortunes (2012).

Abstract (from publisher)An often overlooked secret to creating wealth as a business owner has little to do with actually running the business. Marketing, customer service, quality products, and more are required to make a business successful...but when it comes to creating real and lasting wealth, there's a secret formula that all business owners have access to but not all realize. As both a small business lender and a small business owner himself, Chris Hurn has a bird's eye view of how businesses create wealth, as well as an in-the-trenches perspective on the habits and thought processes of successful entrepreneurs.  In The Entrepreneur's Secret to Creating Wealth, Chris unlocks the secret of how small business owners can create wealth and explains the myriad decisions that must be made along the way. Plenty of books describe how entrepreneurs can generate new ideas or keep employees happy. But no other business book outlines in such detail -- or with such authority -- how to actually develop the wealth behind the business.

Bruce A. Kirchhoff, ENTREPRENEURSHIP AND DYNAMIC CAPITALISM: THE ECONOMICS OF BUSINESS FIRM FORMATION AND GROWTH (1994).

Abstract (from publisher):  Kirchhoff blends economics, business, and government policy to demonstrate that entrepreneurship's role in business formation and growth energizes and maintains the viability of capitalism. Entrepreneurs convert new ideas into marketable products and services and use these to grab market shares from older, established firms. This process not only produces economic growth, but also redistributes resources so as to assure equitable distribution within society. Acknowledging that this perception is descriptive but lacks predictive power, Kirchhoff offers a typology to assist in predictive theory building and to guide government policy development.

J. Chris Leach & Ronald W. Melicher, Entrepreneurial Finance (4th ed. 2012).

Abstract (adapted from publisher): This accessible, reader-friendly textbook closely follows a “life cycle of the firm” approach as it introduces the theories, knowledge, and financial tools an entrepreneur needs to start, build, and eventually harvest a successful venture. This edition focuses on sound financial management practices, showing students how and where to obtain the financial capital necessary to run and grow a venture. This edition explores the most important financial issues that entrepreneurs face, particularly the stages of financing, business cash flow models, and strategic positioning of the early-stage company. A new capstone case and updated mini-cases, as well as engaging entrepreneurial ventures lifted from the latest headlines keep readers involved and learning as they examine concepts such as venture capital funds, institutional investors, and strategic alliances. This edition also provides readers with a thorough understanding of the role of business angels, licensing agreements, and exit strategies.

Alice H. Magos, SMALL BUSINESS FINANCING: HOW AND WHERE TO GET IT (2002).

Abstract (from publisher):  Securing adequate funding for a business venture can be one of the most difficult obstacles faced by entrepreneurs. This resource instructs readers on the best ways to raise money for growing or starting a small business by discussing each source of public and private debt and equity capital, from bootstrapping and IPOs to commercial loans and SBA-guaranteed programs. Covered are methods for determining how much capital is needed, planning successful applications and presentations, and choosing an appropriate source and type of financing. Sample forms are integrated into the text to facilitate learning the details and data-gathering skills needed for the financing process.

Deborah M. Markley & Katharine McKee, BUSINESS FINANCE AS A TOOL FOR DEVELOPMENT(1992).

Abstract:   Reviews finance strategies for starting businesses using a community economic development approach.

Marc H. Meyer & Frederick G. Crane, Entrepreneurship: An Innovator’s guide to Startups and Corporate Ventures (2011).

Abstract (adapted from Amazon.com): This text helps student entrepreneurs succeed in the modern arena, in which new technology-intensive products and services are the engines of venture creation and economic growth. It shows students how to understand their industry dynamics and customer needs, test their venture idea in the market and with target customers, and write a successful business plan for a startup or a corporate venture. The authors use clear frameworks and systematic methods that are based on the decades of experience, not just in the classroom, but from starting, advising, and helping to manage successful ventures.

David Nour, THE ENTREPRENEUR'S GUIDE TO RAISING CAPITAL (2009).

Abstract (from product description at Amazon.com):  This book provides pragmatic advice from entrepreneurs who have raised money from friends, family, angel investors, and banks, as well as institutional investors such as venture capitalists and private equity firms. It details the process from start to finish while spotlighting the danger spots and ways to avoid them. It will be especially useful to those who are uncomfortable making important financial decisions, and to those who are confused by all the conflicting opinions offered by advisors—both well meaning and otherwise. By showing readers the financing ropes, the author removes a major source of stress for budding entrepreneurs and moves them closer to their dream come true: a successful business.

Judith A.Parzen & Michael H. Kieschnick, CREDIT WHERE IT'S DUE: DEVELOPMENT BANKING FOR COMMUNITIES(1992).

Abstract (from publisher):   Analyzing the field of community development banking, Parzen and Kieschnick explain how financial institutions can serve the economic development needs of communities in which they operate without sacrificing prudent banking practices. Relying on firsthand knowledge, the authors show why development banks are worthy of the attention of community development activists, financial institutions that want to improve their performance, and policymakers trying to fix the financial system. The authors describe the successes of a number of community development banks, such as South Shore Bank in Chicago, Northern Community Investment Corporation in Vermont, and Self Help Credit Union in North Carolina.  Parzen and Kieschnick explore the factors that contribute to or limit development bank effectiveness, and they focus on how banks come to terms with conflicts between serving their markets and surviving. They offer a plan for achieving the full economic development potential of development banking, including specific steps for development bankers, mainstream financial institution, government agencies, and foundations.

Stephen Pollan, HOW TO BORROW MONEY (1983).

Shannon P. Pratt, BUSINESS VALUATION DISCOUNTS AND PREMIUMS (2009).

Abstract (from product description at Amazon.com):  There is often more money in dispute in determining the discounts and premiums in a business valuation than in arriving at the pre-discount value itself. Discounts and premiums affect not only the value of the company, but also play a crucial role in determining the risk involved, control issues, marketability, and contingent liability, to name a few. 

Shannon P. Pratt & Alina V. Niculita, VALUING A BUSINESS: THE ANALYSIS AND APPRAISAL OF CLOSELY HELD COMPANIES (5th ed. 2007).

Abstract (from product description at Amazon.com):  This edition is updated with new legal, financial, and compliance material, the Fifth Edition of Valuing a Business presents detailed answers tomany valuation questions ranging from executive compensation and lost profits analysis to ESOP issues and valuation discounts.

Steven Rogers, ENTREPRENEURIAL FINANCE: FINANCE AND BUSINESS STRATEGIES FOR THE SERIOUS ENTREPRENEUR (2009).

Abstract (from product description at Amazon.com):  This book is a practical road map offering methods for keeping firm financial control of the enterprise while avoiding common financial barriers.  It covers, among other things: the dual objectives of a business plan and how to ensure that both are fulfilled; differences between debt and equity financing and how and why to use each; real-world methods for structuring a deal to benefit both the financier and the entrepreneur; valuation techniques for understanding what your business is truly worth; and essential resources for finding the detailed information you need.

Neil Senturia, I'm There for You, Baby: the Entrepreneur's Guide to the Galaxy (2011).

Abstract (from Amazon.com): Success, failure, joy, pain, and rejection. Neil Senturia shares the ups and downs of his entrepreneurial life and how the lessons learned along his journey can be applied to all of our lives. The book reads like Neil talks (with the occasional four letter word!) so be prepared for a humorous and insightful read. Two hundred and twenty three of his Baby Rules are included here.

Janet Kiholm Smith et al., Entrepreneurial Finance: Strategy, Valuation, and Deal Structure (2011).

Abstract (adapted from Amazon.com): This book applies the theory and methods of finance and economics to the rapidly evolving field of entrepreneurial finance. This approach reveals how entrepreneurs, venture capitalists, and outside investors can rely on academic foundations as a framework to guide decision making.

This book prepares readers for a wide variety of situations and problems that stakeholders might confront in an entrepreneurial venture. The authors specifically address the influences of risk and uncertainty on new venture success, devoting substantial attention to methods of financial modeling and contract design. Finally, the authors provide a comprehensive survey of approaches to new venture valuation, with an emphasis on applications.

Entrepreneurial Finance is most effectively used in conjunction with a companion website, 
http://www.sup.org/entrepreneurialfinance . On this site, Venture.Sim simulation software, spreadsheets, templates, simulation applications, interactive cases, and tutorials will be available for download. For those teaching from the book, the authors also provide an invaluable suite of instructor's resources.

Dan Steiner, Kickstarter Handbook: Real- Life Success Stores of Artists, Inventors, and Entrepreneurs (2012).

Abstract (adapted from publisher)So you want to produce a short film. Or design a new line of jewelry. Or manufacture a revolutionary solar-powered garden sprinkler. There’s just one catch: You need $100,000 to bankroll your dream, and your checking account has barely enough to cover the rent. Enter Kickstarter.com—the phenomenal “crowdfunding” website launched in 2009 that brings venture capital to the masses. At Kickstarter, it’s not uncommon for entrepreneurs to raise $50,000, $100,000, $250,000, or more. All you need is a great idea—and The Kickstarter Handbook. Business journalist Don Steinberg has interviewed dozens of artists and inventors who launched their passion projects online. Through their voices, you’ll explore all the strategies of a successful Kickstarter campaign. You’ll learn the elements of a compelling Kickstarter video, innovative ways to market your projects, tips for getting donors onboard, and the secrets of irresistible Kickstarter “rewards.” You’ll also discover what to do in a best-case scenario—when your project goes viral and the cash starts flowing in. On Kickstarter, it happens to a few lucky visionaries every week. Here’s how to be one of them.

Jeffry A. Timmons, et al., HOW TO RAISE CAPITAL: TECHNIQUES AND STRATEGIES FOR FINANCING AND VALUING YOUR SMALL BUSINESS (2004).

Abstract (from publisher):   This is the entrepreneur's guide to money - where to find what you need to build your business, how to value the business you build, and more America is the land of the entrepreneur. We lead the industrialized world in people who pursue their own businesses, and build their own dreams. Yet for too many this dream becomes a nightmare, a never-ending cycle of scrambling for financial resources as customers and growth fly out the door to their competitors. "How to Raise Capital" provides a battle-tested, step-by-step plan you can follow to create the financial foundations necessary for long-term success. Drawing on the authors' unmatched experience in the start-up trenches, along with literally dozens of high-profile, real-life examples of entrepreneurial success and failure, this straight-talking book will show you how to: locate and negotiate with the funding resources that are right for you, from SBA lenders to angel investors; and, anticipate and overcome the four key mistakes that stifle small business growth.

Elizabeth U, Raising Dough: The Complete Guide to Financing a Socially Responsible Food Business (2013).

Abstract (from publisher): More and more entrepreneurs are using food-based businesses to solve social and environmental problems - and yet the majority of them report that a lack of access to capital prevents them from launching, maintaining, or growing their ventures. Raising Dough is an unprecedented guide to the full range of financing options available to support sustainable food businesses.

Raising Dough provides valuable insights into the world of finance, including descriptions of various capital options, including traditional debt and equity, government grant and loan programs, and cutting-edge models such as crowdfunding and community-based alternatives; guiding questions to help determine which capital options are the most appropriate given the size, stage, entity type, growth plans, mission, and values of an enterprise; case studies and testimonials highlighting the experiences of food system entrepreneurs who have been there before, including both success stories and cautionary tales; and referrals to sources of capital, financiers, investor networks, and other financial resources. Written primarily for people managing socially responsible food businesses, the resources and tips covered in this book will benefit social entrepreneurs - and their investors - working in any sector.

John B. Vinturella & Suzanne M. Erickson, Raising Entrepreneurial Capital (2nded. 2013).

Abstract (from publisher)Raising Entrepreneurial Capital guides the reader through the stages of successfully financing a business. The book proceeds from a basic level of business knowledge, assuming that the reader understands simple financial statements, has selected a specific business, and knows how to write a business plan. It provides a broad summary of the subjects that people typically research, such as "How should your company position itself to attract private equity investment?" and "What steps can you take to improve your company's marketability?" Much has changed since the book was first published, and this second edition places effects of the global recession in the context of entrepreneurship, including the debt vs. equity decision, the options available to smaller businesses, and the considerations that lead to rapid growth, including venture capital, IPOs, angels, and incubators. Unlike other books of the genre, Raising Entrepreneurial Capital includes several chapters on worldwide variations in forms and availability of pre-seed capital, incubators, and the business plans they create, with case studies from Europe, Latin America, and the Pacific Rim.

Rassoul Yazdipour, Advances in Entrepreneurial Finance: with Applications from Behavioral Finance and Economics (2011).

Abstract (adapted from Amazon.com): Advances in Entrepreneurial Finance brings together contributions from researchers from the fields of entrepreneurship, behavioral finance, psychology, and neuroscience to shed new light on the dynamics of decision making and risk taking by entrepreneurs and venture capitalists (VCs). Every new venture requires access to capital at competitive interest rates, and much has been written on general entrepreneurship by management scholars and financial contracting by financial economists using traditional finance theory with all its highly restrictive assumptions regarding decision makers’ cognitive capabilities and behavior. But recent developments in behavioral finance can now be applied to understand how entrepreneurs and VCs perceive risk and uncertainty and how they decide and act accordingly. Showcasing the latest research, this volume demonstrates that findings from the behavioral and neuroscience arenas can and do explain decision making by entrepreneurs and venture investors in the real world. Consequently, such findings have practical implications not only for entrepreneurs, venture capitalists, and their advisors, but also all government agencies and NGOs that want to support product and technological innovation, capital formation, job creation, and economic development.

Andrew L. Zacharakis, Building Your Pro Forma Financial Statements in The Portable MBA in Entrepreneurship, 141-166 (3rd ed., William D. Bygrave & Andrew L. Zacharakis, eds., 2004.)

Abstract:  This book covers all angles of setting up your own business, from spotting market opportunities to protecting intellectual property.

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