Customer Reviews

Funding & Financial Execution for Early-Stage Companies

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I am an advisor to start up companies. I strongly recommend this book to anyone involved in developing a working business plan for an early stage company. This book can be a quick read for the entrepreneur who needs an overall view of financial planning and management. At the same time, the book includes many sample worksheets that can be practically helpful in preparing specific parts of a business plan.

Most start-up business plans (and books and guidelines offered by experts) concentrate on product and technology, some sales and marketing, and the team and their history. They leave out many critical issues that are covered here. Rod Hoagland unfolds and discusses the critical links and feedback loops between the financial plan and the rest of the business plan in a very practical and understandable manner.

Chapters 3, 4, and 5 are particularly timely in today's difficult fundraising environment. They cover many of the topics that must be considered for fund raising, including alternatives to equity financing.

Section Two of the book (Ch. 8-11) tackles the very complicated subject of financial execution. While one can not expect a CFO/COO to pop out of the box here, the issues covered provide a comprehensive To DO list. Many definitions and explanations are provided. Using this section, a new company can plan staffing and outsourcing requirements. The confusing and now controversial stock options are explained at a high level. While the details of an employee stock option plan exceed the scope of this book, the basic definitions and guidelines provided here are very helpful considerations for new companies.

Entrepreneurial growth companies are the next wave of investments that sophisticated investors, groups and professional organizations will chase. I agree with the author that "a venture business combines both high risk and the potential for high reward." The main emphasis, lost among aspiring start-ups, "is to work consistently at increasing the size of the prize and reducing the risk."

This is the most concise and direct book I have read concerning how a start-up company can bridge the gap between the seed/research/development/concept stage (aka idea, first-half early phase) to the start-up stage (aka beta testing, second-half early phase).

This book will save years of headaches and frustration; however, reviewing other sources and articles about this topic is necessary to gain a better understanding and appreciation about what the author is writing about. Consider additional reading material, for balance, such as Gerald Benjamin's 'Angel Financing' and Ray Smilor's 'Daring Visionaries.'

This book is written for the "accomplished" individual. I am inclined to believe that academic and formal training are also required to successfully coordinate with the progression of this book.

Every entrepreneur who really wants to succeed ought to read "Funding & Financial Execution for Early-Stage Company" cover to cover. The well-written book covers the financial areas critical to growing a fledging company to a profitable corporation and beyond. These areas include:
* How does an early-stage company influence investor interest and valuation?
* What key business elements drive the financial plan - do they validate your business model?
* How should entrepreneurs plan for and target venture capital to achieve maximum success?
* What alternatives to equity capital exist for early-stage companies - how are they useful?
* What is the impact of dilutive financial terms buried within a term sheet?
* What is "due diligence" and how do you avoid becoming a "tech wreck" during the process?
* How do you spend your cash resources for human capital (your largest expense) wisely?
* How are options effectively used to maximize value?
* What are the basics of a pragmatic but effective internal control structure?
* What other common execution pitfalls confront most entrepreneurs?

Whether you are the founder or an executive in an early stage company,
once you have read this book packed with valuable practical advice, lessons and examples, you'll want to keep it close by for easy reference for both good and challenging times during the growth years of your company.

Reviewed by
David Faries
President
NeuralTech Business Information, Inc.

I recently ordered the book and it looked great based upon the contents and other reviews. The book needs rewritten as it lacks substance (details), is difficult to read, and is WAY overpriced! It is more like a summary of what needs to be done, yet lacks the details of the process. I was sorely dissappointed with this book! Anyone want a... copy?

Among other crucial lessons,the author clearly and simply outlines 7 hard earned lessons, traps to avoid etc. It's the most concisely written, easily understandable book our team has seen on this whole huge subject. It should be required learning for every early stage entrepreneur!

You are an entrepreneur in the process of creating your business for the lasting success it deserves. Do so with a strong foundation of the detailed knowledge of the process provided in this book. This book will save you a lot of time and protect you from mis-steps by helping you understand the financial aspects of your startup.

The author treats the subject in a ready-to-use, practical terms. The book discusses the most important financial steps the startup must take - financial plannning, understanding and attracting the right kind of investment and the financial execution during the early stage. Along the way, the author discusses the issues that one can only gain by many years of experience. Highly recommend it.

You are an entrepreneur in the process of creating your business for the lasting success it deserves. Do so with a strong foundation of the detailed knowledge of the process provided in this book. This book will save you a lot of time and protect you from mis-steps by helping you understand the financial aspects of your startup.

The author treats the subject in a ready-to-use, practical terms. The book discusses the most important financial steps the startup must take - financial plannning, understanding and attracting the right kind of investment and the financial execution during the early stage. Along the way, the author discusses the issues that one can only gain by many years of experience. Highly recommend it.