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Lecture

Entrepreneurial Resources.docx

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Department
Administrative Studies
Course
ADMS 3930
Professor
Hendriks
Semester
Summer

Description
Entrepreneurial Resources - Financial Resources o The types of financial resources that may be needed depend on 2 factors: 1. The stage of venture development 2. The scale of the venture o Venture capital: a form of private equity financing through which entrepreneurs raise money by selling shares in the new venture; have high performance expectations from the companies they invest in and provide important managerial advise, and links to key contacts in the industry o Angel investors: invest their own money for seed capital during the early stages of a new venture - Human Capital o Managers need to have a strong base of experience and extensive domain knowledge, as well as an ability to make rapid decisions and change direction as shifting circumstances may require - Social Capital o New ventures founded by entrepreneurs who have extensive social contacts are more likely to succeed than are ventures without the support of a social network—founders have contacts who will vouch for them, they gain exposure and build legitimacy faster o Strategic alliances—a type of social capital; by partnering with other companies, young firms can:  Expand their reach of new markets  Enhance their technological abilities  Enhance their reputations  Expand their revenue base  Outsource most of their physical product  Grow quickly without the need for investment in capacity o Internet-enabled capabilities to collaborate onlin
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