New Venture Development

PART IV

Initiating entrepreneurial Ventures

Chapter 11 Assessment and Evaluation of Entrepreneurial Opportunities

Chapter 12 reasoned Structures for New Business Ventures

Chapter 13 - Legal Issues Related to Emerging Ventures

Chapter 14 Sources of Capital for Entrepreneurs



CHAPTER 11

ASSESSMENT AND valuation OF ENTREPRENEURIAL OPPORTUNITIES

CHAPTER OUTLINE

I.The Challenge of New Venture Startups

II.Pitfalls in Selecting New Ventures
A.Lack of objective evaluation
1.Engineers and technically trained mess fall in love with an idea before self-aggrandizing it careful study and investigation
B.No real discernment into the market
1.Entrepreneurs do not realize the importance of a marketing approach
2.Entrepreneurs do not understand the life hertz that must be considered
C.Inadequate understanding of technical requirements
1.bankruptcy to anticipate technical difficulties can sink a spic-and-span venture
D.Poor financial understanding
1.Overestimate finances required
2.Underestimate victimization costs
3.Victims of inadequate research and planning
E.Lack of venture uniqueness
1.A overbold venture ought to have special characteristics or design concepts
2. procedure or service should be superior to competitive offerings
F.



Ignorance of efficacious issues
l.Make marketplace fail-safe for employees
2.Provide reliable and safe products and services
3.Necessity for patents, trademarks, and copyrights

III. captious Factors for New Venture Development
A.Three phases
1.Prestart-up
2.Start-up
3.Poststart-up
B.Critical factors
1.Uniqueness--extends from fairly routine to highly routine
2.Investment
a.Extent and timing of funds are a critical issue
b.Key questions
3.Growth of gross sales - Critical through the start-up phase
a.Key questions
b.Three classifications
1.Life-style venture

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