Includes bibliographical references (p. 867-889).

section 1. The challenge of entrepreneurship -- 1. Entrepreneurs : the driving force behind small business -- What is an entrepreneur? -- How to sport entrepreneurial opportunities -- The benefits of owning a small business -- The potential drawbacks of entrepreneurship -- Why the boom : the fuel feeding the entrepreneurial fire -- The cultural diversity of entrepreneurship -- The contributions of small businesses -- Putting failure into perspective -- How to avoid the pitfalls -- Conclusion -- Chapter review -- Discussion questions -- section 2. Building the business plan : beginning considerations -- 2. Strategic management and the entrepreneur -- Building a competitive advantage -- The strategic management process -- Conclusion -- Chapter review -- Discussion questions -- 3. Choosing a form of ownership -- The sole proprietorship -- The partnership -- The corporation -- Alternative forms of ownership -- Summary of selecting the form of ownership -- Chapter review -- Discussion questions -- 4. Franchising and the entrepreneur -- What is a franchise? -- Types of franchising -- The benefits of buying a franchise -- Drawbacks of buying a franchise -- Franchising and the law -- The right way to buy a franchise -- Franchise contracts -- Trends in franchising -- Franchising as a growth strategy -- Conclusion -- Chapter review -- Discussion questions -- 5. Buying an existing business -- Buying an existing business -- The right way to buy a business -- Methods for determining the value of a business -- Negotiating the deal -- Chapter review -- Discussion questions -- 6. Conducting a feasibility analysis and crafting a winning business plan -- Conducting a feasibility analysis -- The benefits of a business plan -- The elements of a business plan -- What lenders and investors look for in a business plan -- making the business plan presentation -- Conclusion -- Suggested business plan format -- Chapter review -- Discussion questions -- section 3. Building a business plan : financial issues -- 7. Creating a solid financial plan -- Basic financial reports -- Creating projected financial statements -- Ratio analysis -- Interpreting business ratios -- Breakeven analysis -- Chapter review -- Discussion questions -- 8. Managing cash flow -- Cash management -- Cash and profits are not the same -- The cash budget -- Preparing a cash budget -- The "big three" of cash management -- Avoiding the cash crunch -- Conclusion -- Chapter review -- Discussion questions --

section 4. Building a business plan : marketing your company -- 9. Building a guerrilla marketing plan -- Creating a guerrilla marketing plan -- Market diversity : pinpointing the target market -- Determining customer needs and wants through market research -- How to conduct market research -- Plotting a guerrilla marketing strategy : building a competitive edge -- Marketing on the World Wide Web -- The marketing mix -- Chapter review -- Discussion questions -- 10. Creative use of advertising and promotion -- Define your company's unique selling proposition -- Creating a promotional strategy -- Selecting advertising media -- How to prepare an advertising budget -- How to advertise big on a small budget -- Chapter review -- Discussion questions -- 11. Pricing and credit strategies -- Pricing : a creative blend of art and science -- Three powerful pricing forces : image, competition, and value -- Pricing strategies and tactics -- Pricing techniques for retailers -- Pricing techniques for manufacturers -- Pricing techniques for service businesses -- The impact of credit on pricing -- Chapter review -- Discussion questions -- 12. Global marketing strategies -- Why go global? -- Going global : strategies for small businesses -- Exporting -- Barriers to international trade -- International trade agreements -- Conclusion -- Chapter review -- Discussion questions -- 13. E-commerce and entrepreneurship -- Benefits of selling on the Web -- Factors to consider before launching into e-commerce -- Twelve myths of e-commerce -- Strategies for e-success -- Designing a killer Web site -- Tracking Web results -- Ensuring Web privacy and security -- Chapter review -- Discussion questions -- section 5. Putting the business plan to work : finding financing -- 14. Sources of equity financing -- Planning for capital needs -- Sources of equity financing -- Chapter review -- Discussion questions -- 15. Sources of debt financing -- Sources of debt capital -- Non-bank sources of debt capital -- Federally sponsored programs -- Small Business Administration (SBA) -- State and local loan development programs -- Internal methods of financing -- Where not to seek funds -- Chapter review -- Discussion questions --

section 6. Location and layout -- 16. Location, layout, and physical facilities -- The logic of location : from region to state to city to site -- Location criteria for retail and service businesses -- Location options for retail and service businesses -- The location decision for manufacturers -- Layout and design considerations -- Layout : maximizing revenues, increasing efficiency, and reducing costs -- Chapter review -- Discussion questions -- section 7. Managing a small business : techniques for enhancing profitability -- 17. Supply chain management -- Creating a purchasing plan -- Quantity : the economic order quantity (EOQ) -- Timing, when to order -- Managing the supply chain : vendor analysis and selection -- Legal issues affecting purchasing -- Chapter review -- Discussion questions -- 18. Managing inventory -- Inventory control systems -- Just-in-time inventory control techniques -- Turning slow-moving inventory into cash -- Protecting inventory from theft -- Conclusion -- Chapter review -- Discussion questions -- section 8. Managing people : a company's most valuable resource -- 19. Staffing and leading a growing company -- The entrepreneur's role as leader -- Hiring the right employees : the company's future depends on it -- Building the right culture and organizational structure -- Communicating effectively -- The challenge of motivating workers -- Chapter review -- Discussion questions -- section 9. Legal aspects of small business : succession, ethics, and government regulation -- 20. Management succession and risk management strategies in the family business -- Family businesses -- Exit strategies -- Management succession -- Developing a management succession plan -- Risk management strategies -- The basics of insurance -- Controlling insurance costs -- Chapter review -- Discussion questions -- 21. Ethics and social responsibility : doing the right thing -- An ethical perspective -- Who is responsible for ethical behavior? -- Establishing ethical standards -- Social responsibility and social entrepreneurship -- Putting social responsibility into practice -- Conclusion -- Chapter review -- Discussion questions -- 22. The legal environment : business law and government regulation -- The law of contracts -- The Uniform Commercial Code (UCC) -- Protection of intellectual property rights -- The law of agency -- Bankruptcy -- Government regulation -- Conclusion -- Chapter review -- Discussion questions -- Appendix -- Cases -- Endnotes -- Credits -- Index