Description - How to Raise Capital by Jeffry Timmons
Only 30 per cent - 40 per cent of all new businesses seeking funding each year actually receive it. In light of this low rate, when considering financial alternatives best for a new venture, it is important to draw on the experience of those who have already been there. For over 25 years, Jeffry Timmons and Steve Spinelli have developed and participated in entrepreneurial ventures and know the questions to ask. Based on Professor Timmons' successful New Venture Creation college text, How to Raise Capital takes the reader through the entire financing process from determining the need for outside investors (and if so, whom) to tips on negotiating and closing the deal. By removing the pedagogy, this book will be a smaller, streamlined version of the classic college text, leaving exactly the information that today's entrepreneur will need to succeed. Combining educational theory and real-world experience, the authors identity the financial life cycles of new ventures, provide a framework for financial strategies, and illustrate investor perspective when making a deal. The authors believe that from whom the entrepreneur gets funding is more important than how much money is obtained.
The entrepreneur will learn how to find, contact, and deal with equity investors and identify formal and informal sources of equity, exploring the implications of each on their business. Entrepreneurs will learn the ins and outs of obtaining debt capital as well as managing the debt once he or she has it. The book takes a thorough look at the inner workings of the venture capital industry and investing process, helping the entrepreneur get inside the head of the venture capitalist and angel investor. The entrepreneur will thus have an advantage by knowing how the investor thinks and therefore what to expect. The authors describe what is negotiable in a deal and some of the traps that could be potential deal breakers. The critical aspects of the deal, beyond just the money, will be discussed, such as possible changes in the management team, how many seats are on the board, the number, type, and mix of stocks to offer, and more. An actual deal from Bridge Capital Investors, Inc., presented to the president of Jiffy Lube is analyzed, allowing the entrepreneur to see what makes a good deal and why.
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