The Role of Strategy in Small-Firm Adaptation to a Changing Environment

Strategy formulation and implementation are critical elements of the small firm’s process of adapting to a changing world. The CEO who hopes to adapt his/her small firm to a changing environment must focus on strategy formulation and implementation. This paper presents theories, concepts, and models that can be used to improve the process of formulating strategies, to determine the content of specific strategies and, to … [ Read more ]

Sample Business Plans

This library of business plans includes entries in the Moot Corp® Competition at the University of Texas. Each business plan was a winner or finalist in the competition. The judges (venture capitalists) selected these plans as representing the best in business strategy and presentation.

Done Deals: Venture Capitalists Tell Their Stories

“Until a few years ago,” notes journalist-consultant Udayan Gupta, “venture capitalists were hardly on anyone’s radar screen.” That’s not the case these days, as financiers who used to work behind the scenes now regularly set markets afire with their public support of high-profile technology and Internet stocks. In Done Deals, Gupta allows 35 of the brightest stars in what has become a $30-billion-a-year business to … [ Read more ]

Tips for the first VC Meeting

VC Ed Sim shares some thoughts on how to make the first VC pitch a better experience for all participants.

Feld Thoughts: Posts on Letters of Intent

Following up on the Term Sheet series, the Feld Thoughts blog offer a series on the Letter of Intent. As stated in the first post, “Deals have to start somewhere, and often the first real ‘document’ that gets negotiated after the foreplay turns serious is the infamous letter of intent…This sometimes delightful and usually non-binding document (except for things like a no shop agreement) is … [ Read more ]

The Hypomanic American

In this manifesto, clinical psychologist John Gartner hypothesizes that “American entrepreneurs are largely hypomanic.” Where mania is a severe illness, hypomania is not, in and of itself, an illness. It is a temperament characterized by an elevated mood state. And it is largely responsible for entrepreneurial success.

Editor’s Note: this is really an interesting article, and not just for those interested in psychology or entrepreneurship. … [ Read more ]

Joseph B. Lassiter III

Visionaries buy on the promise of a product; pragmatists buy when the product’s benefits are proven. But pragmatists usually control the bulk of the money. Understanding how a specific set of pragmatists and visionaries relate to one another in the application that the venture chooses to pursue is the key to rapid revenue growth; because, if you do business with the “wrong” visionaries, they’ll lead … [ Read more ]

The Entrepreneur’s Guide to Business Law

Bagley and Dauchy take the would-be entrepreneur from the decision to go it alone through the growth of the new venture to the initial public offering — anticipating and explaining legal concerns throughout the process. There are chapters on deciding whether to incorporate, raising capital, and forming a board, as well as discussions of contracts, product liability, intellectual property, and human resources.

“There is a need … [ Read more ]

The Sales Learning Curve: Optimizing the Path to Positive Cash Flow

There’s an old saying about rolling out a successful new product: “It always takes longer and costs more.” Many company executives are resigned to this state of affairs, determined to ride out the tough phase of the new product cycle on the path to positive cash flow.

But it doesn’t have to be that way. By learning from the mistakes of the past, start-ups can build … [ Read more ]

Beware of fishing expeditions

Fielding calls from strategic buyers expressing an interest in acquisition can be great news. However, as an entrepreneur you have to be skeptical as many of these calls end up as just another fishing expedition from the strategic buyer. In fact, you have to recognize and assume that many of these initial calls are just fishing expeditions where a strategic buyer is just trying to … [ Read more ]

Wanted: A Company to Call Their Own

For those entrepreneurial types who aren’t keen on starting a company from scratch, creating a search fund to buy an existing business may be the way to go.

Bob Metcalfe

Engineer-scientist, early Internet developer, and now venture capitalist: Bob Metcalfe has seen it all in 40 years on the front lines of technology. In this far-ranging interview, he waxes eloquent on the future of the Internet, the rise of the blogosphere, the demise of print media, why engineers should not become venture capitalists, and how to solve the energy crisis.

Angels With Angles

Angel investors are changing. Here’s what they’re looking for, how they operate, and (because the devil is in the exit strategy) what they expect for their money.

The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything

What does it take to turn ideas into action? What are the elements of a perfect pitch? How do you win the war for talent? How do you establish a brand without bucks? These are some of the issues everyone faces when starting or revitalizing any undertaking, and Guy Kawasaki, former marketing maven of Apple Computer, provides the answers.

The Art of the Start will give … [ Read more ]

To Participate or Not (Participating Preferences)

VC Brad Feld tries to explain the notion of participating preferred (a maligned and typically hotly negotiated issue in many venture capital investments), how it works, and its financial and emotional impact on a deal.

After the Term Sheet: How Venture Boards Influence The Success Or Failure Of Technology Companies

This white paper discusses the proper corporate governance role a Board should play in a start-up venture capital-backed organization. It is a best practices document designed to facilitate trust between CEOs and venture Board Members while keeping clear the unique and valuable role each plays in the life of a start-up.

J. Gregory Dees

Markets do not work as well for social entrepreneurs. In particular, markets do not do a good job of valuing social improvements, public goods and harms, and benefits for people who cannot afford to pay. These elements are often essential to social entrepreneurship. That is what makes it social entrepreneurship. As a result, it is much harder to determine whether a social entrepreneur is creating … [ Read more ]