Book Description

Deal Terms is the first ever in-depth look at valuations, preferred stock, stock options and other variables that affect deal structure, written by Alex Wilmerding (a venture capitalist at Boston Capital Ventures and best selling author of Term Sheets & Valuations). Written from a venture capital perspective, however applicable for all types of financings, Deal Terms includes actual term sheets, valuation methodology and analysis, assessment of stock option programs and their impact on valuations and capital structures and other real world documents used by leading venture capitalists and lawyers analyzed from multiple perspectives. A must have book for any executive, entrepreneur, or financial professional, this timeless classic is an unprecedented resource that will help you avoid costly mistakes, understand various structures and terms, and understand wording and language from other deal sheets to help you get deals done.

According to Graham Anderson, General Partner at Euclid SR Partners, "Deal Terms provides critical, in-depth, first-hand perspective on the crucial terms and factors which influence financing decisions."Clifford Schorer, Entrepreneur in Residence, Columbia Business School remarks, "Deal Terms is an indispensable reference for entrepreneurs and finance professionals." And Andrew McKee, General Partner at Webster Capital notes, "Deal Terms is a really important resource." ... Read more

Reviews (6)

Helpful, practical, and brilliant!
I recently finished your book "Deal Terms" and found it extremely
helpful as we are looking into our first round of financing.

This book showed me numerous issues that I would have definitely overlooked or simply not thought of.
 
Thanks for writing Deal Terms. Definitely an invaluable
reference for anyone in business!

Direct to the Deal Terms
This book has a few sample drafts of term sheets and other legal documents. That is not the primary focus of this book. You can hire that kind of talent (legal drafting) on a per hour basis. This book helps the owners make the BUSINESS decisions necessary to avoid hamstring their new venture during this difficult passage. Included is information about what to pay your independent directors, advisory board members and senior management. Also included is what percentage of the company the founders should expect to keep, how to avoid excessive dilution during an unfortunate down round and how to present your opportunity to potential investors. All of these BUSINESS decisions are beyond the discretion of attorneys in this area, they typically instruct the entrepreneur to reflect upon the topic and then the attorney will draft it to suit.

Wilmerding interviews individuals that are representative of players an entrepreneur will encounter in getting his business funded. These real world examples of how business (strategy) items are handled or viewed by third parties are the best part of his book.

Very Useful Reference Guide
As a corporate attorney specializing in the area of venture capital and private equity I just completed reading "Deal Terms." I found the book to be insightful and a good resource, particularly in areas that are outside of my traditional bailiwick as a lawyer. A recommend this book for those new to the venture capital area as well as experienced investors, entrepreneurs and professionals.

Very Insightful...Read Before Your Next Deal
Mr. Wilmerding's book is a great reference for every venture capitalist, entrepreneur, and investment banker. I was very impressed with the analysis of actual deal sheets, and the recommendations on specific points within a deal.

Also of particular value is the focus on the preferred and convertible stocks. The in-depth analysis of both the simple and complex types of offerrings brings to light a lot on the topic, and what to watch out for with new laws and regulations regarding these documents.

This book is a must read for anyone doing financial deals of any type. Although I have been doing deals for over 20 years, there were a couple of points in particular that I took away from this book that I now use in all the deals I do. We also had one of our portfolio entrepreneurs read it, who took away a lot and now uses this book as their "standard" for the types of deals they do.

Want to know what venture capitalists really think about deals and how they structure them? It's in this book.

Passable guide, but certainly not a reference book
A very brief and concise view of venture capital structures, but also somewhat basic in content. Examples could use more details (e.g., the sample weighted average anti-dilution calculations).

Disappointed that the author does not address more complicated security structures other than common and straight convertible preferred. Also, I was surprised given the recent publication date that there was not a comparison on how deal terms have changed from the dot-com boom and bust.

Certainly not a must have book for my bookshelf.

Sahlman's Entrepreneurial Venture is a much better "reference" book and cheaper too. ... Read more

Book Description

Term Sheets & Valuations is the first ever in-depth look at the nuts and buts of terms sheets and valuations. The book, written by leading venture capitalist Alexander Wilmerding of Boston Capital Ventures, covers topics such What is a Term Sheet, How to Examine a Term Sheet, A Section-by-Section View of a Term Sheet, Valuations, What Every Entrepreneur & Executive Needs to Know About Term Sheets, Valuation Parameters, and East Coast Versus West Coast Rules. In addition, the book includes an actual term sheet from a leading law firm with line by line descriptions of each clause, what can/should be negotiated, and the important points to pay attention to. A must have book for any executive, entrepreneur, or financial professional.

Praise for Term Sheets & Valuations:

"This primer should be required reading for every entrepreneur. It is short, authoritative and worth its weight in gold." - Murray Low, Executive Director, Columbia Business School, Eugene M. Lang Center for Entrepreneurship

"An invaluable resource for executives and financial professionals." - Graham D.S. Anderson, General Partner, EuclidSR Partners

"A valuable resource for entrepreneurs..." - Jeffrey Donohue, Esq. ... Read more

Reviews (12)

Most Insightful Book Ever Written on Venture Capital
I would spend $1,000 for this book - simply put. Even though I am a VC, I was completely awe struck by the detailed information on raising capital, term sheets and valuations this book presented. Besides having great insight into raising venture capital, the highlight of the book is clearly an actual term sheet, put together by one of the leading law firms, with line by line descriptions of what the wording means and actual "legal wording" for "investor favorable," "entrepreneur favorable," and "neutral" terms. This is information you pay $20,000 for with your lawyers. This book is a must have for any entrepreneur, venture capitalist or financial executive.

The Book Every Management Team, VC & Lawyer Should Have
This is by far the most widely used title by every venture capitalist. I would highly recommend this book to every vc, lawyer, and management team member (especially) of every company looking to obtain venture financing. You could not find better advice on negotation points, changes to wording or overall guidance on a term sheet than Wilmerding's advice in this book. Especially look at Chapter 3 where Wilmerding goes through line by line what every parapraph means on a term sheet. Also check out Wilmerding's other book, Deal Terms, or Raising VC From a Tier 1 Firm (which includes the entire text from Term Sheets & Valuations and Deal Terms).

Advice from a seasoned financial professional....
After having this book referred to me by about 7 of my venture capital friends I decided to take a look. Well, I was very impressed as this is the first venture capital book I have seen to provide a true insider's perspective. This book literally tells you exactly the wording you need to use to make the section applicable to you - whether you are a:

Venture Capitalist

Entrepreneur

Lawyer

Etc.

Look at the below section and the detail it provides (you should note the book itself goes on to explain what this entire section means and what each section specifically does):

(4) Conversion: [Investor Favorable, Middle of the Road and Company Favorable are the same.]

The holders of the Series [A] Preferred shall have the right to convert the Series [A] Preferred, at any time, into shares of Common Stock. The initial conversion rate shall be 1:1, subject to adjustment as provided below.

(5) Automatic Conversion:

Investor Favorable:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [3 times the Original Purchase Price] per share and for a total offering with net proceeds to the Company of not less than $40 million (a "Qualified IPO").

Middle of the Road:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [2 times the Original Purchase Price] per share and for a total offering with gross proceeds to the Company of not less than $25 million (a "Qualified IPO").

Company Favorable:

The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least a majority of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than two times the Original Purchase Price (as adjusted for stock splits and the like) and for a total offering of not less than $5 million, before deduction of underwriters commissions and expenses (a "Qualified IPO").

The Industry Standard for Term Sheets in the VC Industry
As a VC, I can tell you this is THE book every VC, lawyer, investment banker and entrepreneur has on their desk regarding term sheets. It is a great overall reference and the line by line explanations are extremely important for anyone doing deals. I would also highly recommend Wilmerding's second book "Deal Terms" and "Executive Reports: Raising VC From a Tier 1 Firm" which includes this entire book, Deal Terms, Ways of the VC and a list of top VC Firms. I am also told this book specifically is available as a CD-Rom (sold separately), in a Word document, that you can use for your own dealings.

This Book Saved Me
As an entrepreneur trying to secure venture financing, this book was a godsend. Not only did it help me better negotiate with my investors, but it made me seem like I really knew what was going on and had experience in the area. It also saved me thousands in legal fees since I was able to make suggestions on my own time (not lawyer time). My backers were quite impressed with this book themselves and all bought copies after I shared it with them when the deal closed. If you have any ties to venture capital at all, this book is worth it's weight in gold. ... Read more

Book Description

For busy fundraisers, writing letters of appeal can be confusing and laborious. Now, a guide from the nation's premier letter-writing tutor--direct mail expert Mal Warwick--shows fundraisers what makes the best letters work. Whether its general advice about the most effective mail strategies, or specific advice for those interested in the details of a direct mail campaign, Warwick keeps fundraisers on track when he reminds: "You're writing for results--not a Pulitzer Prize."

In How to Write Successful Fundraising Letters, Warwick's step-by-step model for writing a successful appeal walks you through the critical stages; his topics range from laying the groundwork for a prosperous campaign all the way through to the importance of thanking donors. Supported by an extensive collection of model letters, Warwick's no-nonsense, jargon-free work has helped thousands of fundraisers achieve results.

... Read more

Reviews (6)

Every Non-Profit Should Have This Book
Fundraising is a very specialized area of copywriting and marketing. Unlike the more common direct mail letter wherein you are selling a product or service, fundraising often offers nothing more to the receipient than a chance to feel good about doing good.

As a consequence, fundraising letters for charities and oher non-profits literally have their own rules that vary from the traditional approach to direct mail. Warwick is the recognized master of this field and is a legend in fundraising circles.

Every charitiable organization and non-profit group should have this book on their shelf, or have a copywriter available to them that does. And even if you aren't going to apply the principles in the book to fundraising, its still a great guide to writing effective marketing copy.

The best book of its kind ...
There are many many books and courses on how to write a funding proposal but few out there on how to write and develop your organization's annual campaign. Fortunately Mal Warwick's is the only book you'll ever need. Thorough, loaded with examples, not only of solicitation letters but follow up and thank you letters as well -- if you're a development professional this is one book you must have on your shelf. Using Mal Warwick's books and website, along with a great deal of marketing reading, I successfully redesigned my organization's membership campaign - raising our overall donations by 33% the first year and an additional 25% the second year.
While geared to annual campaigns/individual donors, this book will also aid you in writing foundation proposals - particularly to those smaller foundations that may merely require a letter proposal. Mal takes the best of both worlds - marketing and nonprofit management - and gives you a guide that the development professional will refer to daily. With the thousands of foundations in the United States, not every one is a Kellogg or a Kresge or a Pew and this book is an invaluable aid to getting your proposal read. HIGHLY RECOMMENDED (as are all Mal Marwick's books).

A Good Primer on Fundraising Letters
I found this book to be a great primer on writing fundraising letters. This book is written in simple enough language that beginners will be able to follow along, yet is detailed enough that even accomplished fundraisers will benefit from a throurough review of this guide.

When I wrote "25 Fundraising Secrets - Raise More Money, Guaranteed," I included a chapter on how to make follow-up phone calls after mailing out fundraising letters. When I am asked by readers how to write those fundraising letters, I direct them to this informative book by Mal Warwick.

Never Wrote a Fundraising letter before
This was an excellent book! I was able to put together not just a letter, but a fundraising package. The instructions are complete and the examples are wonderful reference tools. I am new to the Fundraising industry and this is a book that I am now purchasing for my library. It also covers thank you's. I would highly recommend this book to someone who has never wrote a fundraising letter before or even for the experienced letter writer!!

My top recommendation for fundraisers
In my seminar on nonprofit communications I strongly recommend several titles, chosen from the dozens on my shelves. Mal Warwick's How to Write Successful Fundraising Letters tops the list. It is pretty much a model, I think, for good how-to books: it is well organized, comprehensive (in ways you'd never anticipate), filled with case studies and annotated examples, brief, to the point, practical, and extraordinarily reader-friendly. I wrote fund-raising letters before I read Mal's book; some letters worked, some didn't. After I read his book, I never wrote an unprofitable letter again. You will not regret buying this book: it removes the veils from so many mysteries of successful direct mail fundraising. ... Read more

Book Description

Fundraisers, here are the tricks that get the cash! Fundraising For Dummies is the complete, fun-to-read guide to the art and science of raising money for nonprofit endeavors, from Little League to big foundations. Fundraising For Dummies helps you to

• Find the secrets of writing grants that get the green
• Conduct effective grassroots campaigns, phone and mail solicitations, events, and more
• Discover tips on starting a nonprofit organization from scratch
• Put the fun" in fundraising

Reviews (6)

Basic strategy, thorough and complete
This book is another fine work by the folks at "For Dummies" - It is a great, basic strategy guide to fundraising. Beginners will find this book useful in all aspects of thier fundraising start-up and operation. It includes great tips on organizing your operation and making it grow.

When I wrote "25 Fundraising Secrets - Raise More Money, Guaranteed," I intended it to be a compilation of strategic stips and "secrets" to fundraising for political campaigns, charities and non-profits. "Fundraising for Dummies" provides an excelent companion to my book by giving you step-by step fundraising instructions to get you started, before you move into the secrets that help you expand and succeed.

There are better books
I have been in fundraising for years and am always looking for additional resources. While the "Dummies" series are good generally, fundraising is too important to be treated superficially.

Good book, but watch the legal & tax advice!
In case you've been trapped on a desert island for the past several years, IDG books has been publishing "Dummies"-themed books on every subject under the sun and moon, from Windows 2000 to sex. Fundraising for Dummies is a typically informative, easy-to-read, and useful guide to fundraising for nonprofit organizations.

With 28 chapters in five parts and appendices of checklists and how-tos, the book has loads of information for novice and intermediate fundraisers alike. In fact, it's also a pretty good reference for board members and volunteers involved in fundraising activities.

There is a chapter devoted to predictions on the future of philanthropy in the U.S., with one-paragraph explanations of brief statements, such as "E-giving Will Grow." Most of these predictions are obvious to nonprofit-sector experts (and especially those of us who participate on CharityChannel!). However, I must admit to being intrigued by the idea that "Nonprofits Will Rule!", meaning that, as more for-profits become regional and national in scope, local nonprofits will assume increasing local community leadership influence.

As good as this volume is in its general approaches and many helpful tips and techniques, do not mistake this book for a thorough treatment of the subject or any of its components. I was alarmed by its breezy assertion that nonprofit board service

"...is not as risky as serving on a for-profit board. Nonprofit board members are protected personally from liability in any legal action against their charitable organization..."

Haven't the authors heard of the IRS and Intermediate Sanctions? And, since nonprofit corporations are state-chartered (like their for-profit brethren), wouldn't liability vary from state to state, as well as depending on the facts and circumstances of each case? I would imagine that the D&O liability insurers would like to address this before the second printing!

One benefit of this book I found is one which I'm not sure is intentional. Grant writing is given short coverage in the appropriately-numbered Chapter 13 of the book, thereby providing two subtle reminders that grants are but a minor part of fundraising success.

Any reader interested in the subject will learn much from this book, as long as they don't take its accounting and legal advice too literally.

Table of Contents

Introduction

Part 1 -- Gearing Up to Raise Funds

Part 2 -- Getting to Know Your Donor

Part 3 -- Using Your Fundraising Tools

Part 4 -- On the (Fundraising) Campaign Trail

Part 5 -- The Part of Tens

Index

Fundraising for Dummies
I am just starting my first job as a fund development director, and this book is a terrific step-by-step reference. I've been reading lots of stuff, and this is the best. The authors know fundraising on both sides--as fund raisers and funders. The book is readable,interesting and full of specifics, "case studies," and references (with helpful contact information--addresses, etc.). I would think even "old hands" in fundraising would learn a thing or two.I highly recommend it.

Not Just For Dummies
I have been in the fundraising world for several years, and found this book to very insightful - and helpful. I recommend it for board and staff members of non profits. The layout is great for referencing. I have already used the book in some very practical ways, getting rid of some old habits.

A great gift to new board memebers, and a desk reference for the professional. ... Read more

Book Description

• The first-ever book to show businesses step by step how to capitalize on advertising programs offered by Google, the world's #1 search engine, with more than 200 million search queries per day
• Written by a veteran For Dummies author working in cooperation with Google, which will help support the book
• From selecting the right keywords to crafting the right message, the book explains how to boost site traffic using AdWords, Google's hugely successful sponsored-link advertising program, which now has more than 150,000 advertisers
• Also details how to make money with AdSense, a Google program that funnels relevant AdWords ads to other sites-and pays those sites whenever someone clicks on them

Reviews (1)

Great AdWords and SEM Primer
This has got to be one of the best references I've seen that addresses what can be done with online marketing using Google AdWords. AdWords is a confusing but powerful program, and this book offers an excellent primer to becoming an effective AdWords user. That's the primary reason I bought it. There seems to be no end to the ways you can use Google to promote your business. This book helped me familiarize myself with several tools I hadn't looked into beforehand.

Also a good intro to search engine marketing. I purchased Search Engine Optimization For Dummies at the same time that I bought this book. Also an excellent reference. Both highly recommended. ... Read more

Book Description

The only book that offers a state-of-the-art education in entrepreneurship

... From an all-star team that includes:

William D. Bygrave, Babson College • Jeffry Timmons, Harvard University and Babson College • Abdul Ali, Babson College • Kathleen Seiders, Babson College • Andrew Zacharakis, Babson College • William Wetzel, University of New Hampshire • Joel Shulman, Babson College • Elizabeth Gatewood, Indiana University • Richard Mandel, Babson College • Joseph Iandiorio, Iandiorio & Teska • Steve Spinelli, Babson College • J. William Petty, Baylor University • Julian Lange, Babson College • Ed Marram, Babson College • Donna Kelly, Babson College

Starting your own business is an increasingly popular and feasible response to today’s changing job market, and the best entrepreneurial wisdom available is in The Portable MBA in Entrepreneurship, Third Edition. Edited by William Bygrave and Andrew Zacharakis, two seasoned professors of entrepreneurship at Babson College, it covers all the fundamentals–from opportunity recognition to venture capital to formulating smart business plans. This revised volume of the 600,000-copy bestseller includes a wealth of new case studies, as well as updated tax and legal information. Geared towards both MBA candidates and aspiring entrepreneurs, The Portable MBA in Entrepreneurship guides the reader through the startup process and beyond, culling wisdom from the best and brightest in the field. If you’re ready to see what the entrepreneurial world has to offer you, this book is your ticket. ... Read more

Reviews (7)

Overview of Entrepreneurship
"The Portable MBA in Entrepreneurship" is a very thorough introduction to the entire process of entrepreneurship and business formation. New entrepreneurs will find articles by various entrepreneurs and scholars of entrepreneurship that cover marketing, finance, venture capital, writing a business plan, and many other topics.

"The Portable MBA in Entrepreneurship" also notes many interesting aspects of entrepreneurship as it relates to the broader economy. It is pointed out that throughout the 1980's, for example, that only 5% of all the companies accounted for 77% of the new jobs in the U.S. Such information is interesting and it helps us understand the broader issues of entrepreneurship.

Although much of this academic information about entrepreneurship is not practically useful to new entrepreneurs who are building and growing companies, it does make for some interesting reading. Nor is "The Portable MBA in Entrepreneurship" a thorough analysis of successful businesses. It is not a business case study book.

The chapter about Market Opportunites and Marketing by Gerald E. Hills is especially good reading for people contemplating starting a business.

While this is a very good book, if I were going to teach a class in entrepreneurship (and assuming students wanted a more hands-on introduction to building a company), I'd use "The Entrepreneur's Fieldbook" by John Vinturella.

Peter Hupalo, Author of "Thinking Like An Entrepreneur"

Useful
I think this is book is used in many Universities of developed countries. I would like to know more about new editions also.

A great reference book but not a great read.
I bought this book to help me get started on my own service business. It is helpful in many ways, and not so helpful in other ways. THE GOOD: 1) There is a load of information about entrepreneurship. This book takes you from getting started, to finding the capital you need, to tax and legal issues, to franchising your business. 2) It gives good definitions and explains words that you may be unfamiliar with. Ex... What is a sub chapter S corporation? You'll find the answer to that and many other questions in this book! 3) A great reference. It tells you where you can go to find the information that you will need. It lists journals, books, and government sites that will help you. THE BAD: 1) It reads like a text book. There is a lot of information crammed into this book, page after page after page... 2) Is this guy really an entrepreneur or just a teacher? There are a lot of theories and charts in this book... it makes you wonder. 3) It is a reference book. There was no way that I could read this book straight through, so it sits on my shelf and every once in a while I pull it down to look up words, find references to more information or read one chapter that is applicable to my life right now. OVERALL: If you are looking for an encyclopedia-like reference book for everything you wanted to know about entrepreneurship then this book is for you. If you want motivation, real world examples or unconventional techniques to help you in your business then I would suggest Harry Beckwith or Ries & Trout.

Magnificent!
Excellent book! Covers many aspects of entrepreneurship quite thoroughly. Also consider buying the case studies of this series.

Execellent Overview of Entrepreneurship
I recently completed my MBA. Although no single book will sufficiently cover the material learned through an entire Masters program, I did find this book to be a good start on understanding many of the important issues involved in a new venture. I highly recommend this book! ... Read more

Book Description

"Entrepreneurship is the beachhead of corporate America. If you want to join the business marines, you must read this book."—Robert Keith, Managing General Partner T. L. Ventures

"An extremely readable and useful guide to tackling the venture capital world. This book gives the entrepreneur tremendous insight into what to do and, most importantly, what not to do."—Ash Lilani Senior Vice President, Silicon Valley Bank

"Finally! A practical, hands-on guide to raising venture capital. This step-by-step handbook gives an entrepreneur a clear, real-world roadmap to the world of the fundraising process. I only wish I had a book like this when I started Half.com!"—Josh Kopelman Founder and President, Half.com ... Read more

Reviews (1)

Finally!
Finally! A practical, hands-on guide to raising venture capital. This step-by-step handbook gives an entrepreneur a clear, real-world roadmap to the fundraising process. I only wish I had a book like this when I started my company. ... Read more

Book Description

Internationally acclaimed fundraising consultant Ken Burnett has completely revised and updated his classic book Relationship Fundraising to offer fundraising professionals an invaluable resource for learning the techniques of effective communication with donors in the twenty-first century. Filled with illustrative case histories, donor profiles, and more than two hundred action points, this groundbreaking book shows fundraisers how to

• Implement creative approaches to relationship-building fundraising
• Avoid common fundraising errors and pitfalls
• Apply the vital ingredients for fundraising success
• Build good relationships through marketing
• Achieve a greater understanding of their donors
• Communicate effectively with donors?using direct mail, the press, television, the telephone, face-to-face contact, and more.
• Prepare for the challenges of twenty-first century fundraising

Reviews (1)

Brilliant!
Ken Burnett is one of the world's great, and most respected, fundraisers, and this is one of the most important fundraising books you'll ever read. Relationship Fundraiisng is on every top 10 list I've ever seen. And it deserves to be. Most non-profits do not treat their donors well, and therefore raise less income than they could. When you follow Ken's advice you will raise more money for your mission. I know Ken personally and while I've raised many tens of millions for non-profits, and have been fundraising for 25 years, every time I hear Ken speak, or read his books and articles, I learn something new. ... Read more

Book Description

A practical guide to taking your company public—successfully This updated version of the Ernst & Young Guide to Taking Your Company Public looks at the IPO as a milestone in a larger process called The Value Journey^sm, the basis for the work of the Ernst & Young Center for Strategic Transactions^®, a business advisory resource for CEOs. This practical book is designed to help you determine whether an IPO is the right move for your company and addresses the major leadership challenges that CEOs face. It describes how to plan your IPO journey and chart your business strategy, focusing on the steps you must take to succeed during and after the IPO event and fulfill the critical need to continuously innovate and renew your company. ... Read more

Reviews (4)

Good, easy-to-read textbook. Not not a great guide.
About the book

Based on research questioning about 500 executives who took IPOs between 1986 and 1996. So, most IPOs came from companies who had been profitable for a few years. After the collapse of the Internet stocks, the context is similar, but I believe such profit records may not be as important as during 1986-96.

Published in 1999. So, it has comments to imply "being first makes the company valuable without profits".

About the authors and their style

Authors are experienced in their job of bringing IPOs.

This book is not at all in the class of books by Al Ries and Jack Trout, but more like a text book, covering every related point (from text book point of view). There is no prioritization or difference in emphasis of the importance of various issues involved.

Their diagram on cover of book is confusing because they have used 2-dimensions to show a linear 1-dimension process, which essentially are their recommended steps.

Book's Message

1. Define goal/success. IPO may not be the best way to achieve that.

2. Plan and start working on IPO at least one year ahead of the need.

3. Many specific to-do items: · Revise salaries as variable salaries that include stocks rather than just cash. · Plan personal estates. Give gifts before IPOs to family members to minimize future tax liability. Hire CPA for this planning. · Hire Earnst & Young early. · Clean books of accounts-use GAAP. · Build strong executive team. · Start working like a public company at least one year before-that is-create quarter-to-quarter profitability guidance and exceed them. Create reports such as needed by SEC. · Build external Board. Create committees of Board members.

If you want to read just 7 pages, read these: 25, 37, 56, 65, 74, 108, 170

MasterGuide for IPO (US)
Aimed at executives considering an IPO, the 'IPO Value Journey' is also of use to staff in pre/post-IPO companies to understand about market perceptions of companies & ideal "success factors".

The lightly referenced, well structured chapters span: the CEO's journey; the journey's early vital steps; chart your transaction strategy; chart your personal strategy; create the winning team; complete your IPO platform; be the public company; the IPO event; and deliver the value. Useful appendices span: outline for a business plan; selecting the stock market; registration exemptions and resale restrictions; overview of the SEC and SEC rules and regulations; simplified registration under the small business disclosure system; and glossary.

Strengths include: the concise factual (dry) writing style; good use of exhibits and checklists; and useful easily-accessible content addressing legal, accounting, reporting, board issues (amongst others).

Weaknesses include: need for more sidebar success story anecdotes (which integrate the steps); mostly US focus; and relatively superficial analysis evidence supporting the success factors and 'journey' metaphor.

Overall, a very useful working book, to be read with something like 'Confessions of a Venture Capitalist' (ISBN 0446526800) or 'E-boys' (ISBN 0812930959), for a fuller life-cycle, energetic view of the IPO journey.

Must read for all executive management
This was a highly readable discussion of the issues most companies will encounter during the 'going public' process. It conveys a lot of the experiences of preparing to go public that are not normally available in one book. Excellent coverage of strategy, accounting and reporting issues, SEC disclosure requirements, and the IPO event. Although the writing is accessible to a non technical reader, highly technical topics are well covered.

IPO handbook for CEOs
I found this book had just the right amount of detail for the CEO without becoming tiresome. It gives a very good overview of the IPO process and provides plenty of recommendations to guide you along the way. ... Read more

Book Description

The cash flow business is creating a whole new generation of success stories, and you can share in the wealth, whether you are looking for:

Book Description

In his classic bestseller Venture Capital Handbook, leading venture capitalist David Gladstone showed thousands of companies how to get funding and work with early stage investors. Now, in his revision of the classic, Venture Capital Investing, he looks at venture capital through the eyes of the investor. Gladstone shows all of you VC investors and angels exactly how to weed through scores of business proposals and find the gem that will deliver outstanding returns, especially in these soft economic times. You will learn what to look for in a business proposition; how to assess entrepreneurs and their management teams; how to evaluate financial statements, market niches, competitive environments, and product innovations; how to investigate a business that's already operating; and how to build effective partnerships with existing portfolio companies.

Reviews (2)

VC Investing Basics
Much updated from previous editions, David Gladstone's useful text provides a very cursory survey of deal and investment techniques, albeit for slightly later than "sexy" stage deals. However, as this book is designed for the novice, and as Lipper's text has fallen out of print, this sadly remains the only general text on VC investing for the inexperienced, and is useful in context of the level which it is designed to educate. While the many checklists may be somewhat annoying to seasoned VCs, they are probably indispensable to the novice investor, since they provide a summary framework when working through deal and business terms. And while the book is designed more for later stage (through certainly not LATE stage, as some have alluded to) deals, the book is, again, designed to educate the novice venture investor, who really shouldn't be doing high tech start-ups anyway. Irrespective of that, anyone who presumes to write a text on investing in high tech start ups would likely find his text applicable only for the next few months after printing. Ours is an industry that evolves very quickly, and changes rapidly in accordance to the latest trends. No one can teach you how to pick the winners in the trend that hasn't happened yet. Getting the basics from a text like Gladstone's, however, can give you the fundamentals on which to build that "knack".

Insightful!
This book is a thorough, practical guide to the nitty-gritty of venture capital investing. This comprehensive, well-organized instruction manual summarizes the homework you should do before you make a venture capital investment, the paperwork needed to carry out the investment and the ongoing work you will have to undertake to have a prayer of seeing your investment pay off. If it is a little plodding, you can understand why. It covers a lot of ground. The authors compare venture capital investing to a partnership at one point, to a marriage at another. They don't attempt to sell you on venture investing. In fact, by telling you how difficult and labor intensive it is, they may even drive you away. We believe this book definitely belongs in the library of anyone who has ever taken a serious interest in venture investing. It will also help entrepreneurs who need venture capital financing by showing them how to evaluate their companies according to the criteria that serious investors are apt to use. ... Read more

Book Description

This thoroughly revised and updated edition of the classic book in the field provides a conceptual foundation for the fund raising profession. Hank Rosso's Achieving Excellence in Fund Raising examines the profession's principles, strategies, and methods and is filled with practical examples. Guided by the enduring philosophy of fund raising master Henry A. Rosso, contributors explain the reasoning behind the planning and selection of strategies for all fund raising activities, including building your case for support, approaching donors, managing campaigns, and demonstrating stewardship. ... Read more

Reviews (2)

A must read for the fundraising professional!
Whether you've been in the fundraising profession for 10 minutes or 10 years, do yourself a favour and read this book. It will make you proud to be part of the tradition of philanthropy. It will inspire and guide you. You will see yourself and the volunteers and donors you work with in a whole new light. Don't put it in your library. Keep it on your desk. The first time you read it, and you will read it joyfully from cover to cover, keep pen and paper handy. You will find yourself making a list of things you need and want to do. Achieving Excellence in Fundraising is thoughtful and thought-provoking. It is the place where the theory, practice, philosophy and spirituality of a great tradition meet.

Review for the Golden Gate Chapter of AFP Newsletter
On my fundraising shelf stood just two books and a binder: "Designs for Fundraising" by Harold Seymour © 1966; "The Raising of Money" by James Gregory Lord © 1987, and my collected monthly newsletters of tips from Taft. Not a lot to go on, but Seymour's classic helped me enormously, imparting such nuggets as, "At best, with few exceptions, people don't pay close or careful attention to anything."

OK, so listen up. Times have changed. Many, many books now beckon us, delivering the full spectrum of nonprofit knowledge. Yet all books are not equal. When Henry (Hank) Rosso gathered a number of esteemed colleagues together and put out Achieving Excellence in Fund Raising in 1991, it represented a milestone in fundraising education, based as it was on his many years of teaching through The Fund Raising School, which he founded right here in the San Francisco Bay Area. The School later became a program of The Center on Philanthropy at Indiana University, and it continues to provide superior, basic training in fund raising principle and practice throughout the country. All the years of teaching experience and the benefits of association with IU are now reflected in this expanded, caught-up-with-the-world second edition of the "Rosso" (RAH-so).

It was time. Consider that when Achieving Excellence debuted in 1991, the stock market stood at 2736, Giving USA estimated total philanthropic support at $105 billion, and the National Science Foundation had just lifted its ban on commercial use of the Internet. Today, as we reel and grapple, it is worth noting that the markets have more than tripled from 1991; philanthropic dollars have doubled; and the Internet is our bread and butter. The second edition adds several chapters in recognition of the changes and rounds out its predecessor. We read about the new order, how to build endowment, women as donors, trends in major donor giving (read with caution, as markets and donor experience have had some impact), diversity considerations, Internet strategies, special events fundraising, technology use, budgeting and accountability, stewardship, international perspectives, and fund raising as a profession. These are welcome additions.

Given the scope attempted by the book, I should point out that there are, in fact, a few areas not covered, including how to obtain government grants and contracts, and exhaustive instructions on how to write a grant proposal to a foundation. But if you heed what these authors have written, you will have no problem accomplishing either feat.

Most of the authors in this edition are new to the "Rosso," numbering 27 in all. The first edition lists 13 contributors. Hank wrote eight of the chapters of that book; he has two in this one. With Hank gone (1999), we are guided into Rosso II by the gentle, sure hands of Eugene Tempel, executive director of the IU Center on Philanthropy and Tim Seiler, current director of The Fund Raising School. Between them (with a chapter from Hank), they set the stage in Parts One (Context) and Two (Fundamentals).

The book proceeds logically and is easy to navigate or use as a quick reference. "Fundamentals" is followed by sections treating "building blocks" (e.g. annual fund, capital campaign), sources, methods (e.g. direct mail, special events), management (e.g. leadership, boards, information, budgeting, consultants), ethics, stewardship, and personal professional support. A thorough Glossary and Bibliography follow.

Our AFP chapter boasts several representatives here: Kim Klein reprises her excellent chapter on grassroots fund raising and Kay Grace on leadership; Mal Warwick writes the update on direct mail; Alan Wendroff supplies special events; and Skip Henderson updates us on the trustees' role.

The context is still Hank's, which means that ultimately, the book is not about the joy of soliciting but something higher. I'm sure he would be tickled if you inscribed your book as he wrote in so many of our first editions "I hope that you will enjoy the reading of this book. Let it help you to teach the joy of giving. Hank Rosso" ... Read more

Book Description

With over 40,000 copies sold, the first edition of Persuasive Business Proposals helped many readers construct dynamic, effectiveproposals. Now in paperback, this fully-revised second edition still gives readers simple, effective techniques for organizing, writing, and deliveringproposals while updating the author's winning strategies for today's global business environment.

By cutting through the confusion, and providing dozens of real-world examples, this updated version provides step-by-step instructions for craftingvalue-centered, recipient-specific proposal packages, with all-new discussions on:

* How to increase business using new communication channels from e-mail and electronic submissions to PDF, HTML, and others * The Seven Worst Proposal Mistakes illustrated with real-world examples

This is an essential book for anyone seeking to win contracts and sell projects. ... Read more

Reviews (6)

Great resource for business proposals
This is a great book full of practical advice on how to improve your sales proposals. Most business books tell you what you should be doing. This book tells you how to do it. It covers traditional business proposals and Request for Proposal responses. If you're looking for help with business plans, this isn't a book for you. But if you want to improve your sales proposals and win more business, this book is great! I saw Tom Sant speak at a sales conference last year and he was terrific. I also recommend his email newsletter!

A bottom-line enhancing reader
Now in an updated second edition, Persuasive Business Proposals: Writing To Win More Customers, Clients, And Contracts passes on the practical insights and experience-based wisdom of proposal consultant Tom Saint, a business communications expert whose clients include everything from small entrepreneurial businesses to Global 500 companies (including General Electric, Microsoft, Accenture and other Fortune 500 companies). A "must-have" business writer's guide that scrutinizes the proposal development process; offers a wealth of tips, tricks, techniques; alerts the reader to what common pitfalls to avoid; and then ties it all in with solid advice for instantly hooking the reader's attention with ideas, Persuasive Business Proposals is very highly recommended, bottom-line enhancing reader for any corporate manager seeking to expand a client list and who is faced with increasing competition, shrinking budgets, stiffer governmental regulations.

I think Cicero would have been proud...
Engineers like me need to be reminded. Sure the technology we're selling is amazing, but it's not about us. An effective proposal needs to focus on what the customer needs. This is what Tom Sant drives home so effectively in his book, "Persuasive Business Proposals." I've been using (and preaching to my colleagues) Sant's approach for more than ten years and have given away more than 20 copies of his first edition. The new edition is even better than the first.

Focusing on the customer sounds simple enough, but I regularly refer to the examples in Sant's book to get started. I also frequently open the chapter on word choice. It's a useful complement to the proposal tips, and it helps me confidently use words like complement. (Or should it be compliment? It's in the book!)

Sant quotes Cicero in his book to drive home the persuasion point. Hopefully both Cicero and Sant would accept this attempt at a persuasive close: Engineers need help to write persuasively. Persuasive proposals must focus on the readers' needs. Sant's book delivers practical examples for how to meet these needs. "Persuasive Business Proposals" is so well-organized and fun to read that proposal writers will use it as a frequent reference. Ultimately, engineers (who write proposals) simply need sales from winning proposals. Sant's methods are sure to deliver more wins. If you sell, you should read and use this book.

I wish I had read this earlier in my career!
I have read many business books in my career and I was expecting this to be yet another "how to" book about the mechanics of writing. Boy was I wrong. Yes, writing techniques are covered thoroughly in Section IV. But first, you are firmly grounded in the customer point of view and the art of persuasion, learn how to distinguish between those "deals" you should go after and those you should forego, and gain insight into methods for organizing your thoughts and the whole proposal writing process. Before closing, the author leaves you with metrics to analyze and measure the success of your proposals so that you can incorporate "lessons learned" into future proposals.

I was looking for ways to improve my proposals but ended up with so much more... in fact, after reading this book, I plan to be more discriminating in responding to RFPs and when I do, I will use the techniques Tom offers in this book to make them more specific,customer-focused,and concise. I recommend this book to any person who is involved in the proposal process and wants to improve the effectiveness of their proposals.

The "Write" way to become a sales superstar!
Tom shows you in a clear and distinct manner how to convey to customers the value you can provide them. He demonstrates via numerous real-life examples how to make your proposal appealing to the different types of customers that will review them (purchasing agent, technical buyer, manager, president, ceo, and the like). He also makes you rethink how you conduct your sales call so you can gather the necessary information to make custom-tailor, value-driven proposals instead of generic boilerplates. The book reflects Tom's years of successfully working with sales forces and their customers worldwide to develop proposals that justify the solution and value proposition. ... Read more

Book Description

This updated edition of Mal Warwick's landmark book Revolution in the Mailbox has been thoroughly revised to provide your nonprofit organization with the most current and comprehensive survey of direct mail fundraising available anywhere. If you follow Warwick’s practical, down-to-earth advice, direct mail will help your organization grow, gain visibility, involve your donors, increase its efficiency, and achieve financial stability. Written in an easy, conversational style, this latest edition is filled with real-world examples and illustrations showing how you can realize the full potential of direct mail by putting it to work as a strategic tool. ... Read more

Reviews (4)

Required Reading
This book should be required reading for every non-profit organization using direct marketing. Whether you are using a direct marketing agency or doing it all in-house, this book explains not just "how" but "why" and is an invaluable reference that you will turn to again and again. Most of the questions your board has ever asked about direct marketing are answered here. Plus, the author uses real client examples with supporting spread sheets as illustrations. You can't help but be a better fundraiser after reading this book.

A Great Resource and How To!
Mal has done it again. This book takes you through every step to incorporate the power of direct mail into your fundraising plans. Whether you're a large established organization or just starting out there are important tips that can help you understand the direct mail business and implement them. It is written in an easy to read style and was quite enjoyable. The techniques will greatly impact our fundraising plan this year!

Great Resource!
Sometimes I wonder if Mal Warwick ever sleeps. He is the most productive author in the fundraising field and he turns out wonderful books - full of sage advice.

Readers will be happy to see that this completely revised edition of his classic has many examples and hundreds of ideas that will help raise more money. Moreover, it is extremely well-written, unlike many fundraising books!

If your nonprofit has a direct mail program - or you need to convince your executive director to use the mail - this book is valuable.

Revolution in the Mailbox goes on my staff list of "must-read" books - half of which Mal has written or edited. If I could give this book six stars I would.

A Great Resource and How To!
Mal has done it again. This book takes you through every step to incorporate the power of direct mail into your fundraising plans. Whether you're a large established organization or just starting out there are important tips that can help you understand the direct mail business and implement them. It is written in an easy to read style and was quite enjoyable. The techniques will greatly impact our fundraising plan this year! ... Read more

Book Description

A good fundraising plan can make a vital difference in the quality of a nonprofit organization's programs and services. It can be the map by which the organization charts and secures its future. This step-by-step guide is designed to help you and your organization construct an operational fundraising plan that is appropriate to your specific funding needs. From meeting deadlines and scheduling special events to creating an overall plan for fundraising activities, The Fundraising Planner ensures that all activities fit together as a whole and support each and every program.

The model presented in this workbook is flexible and suited to multiple purposes. Use The Fundraising Planner and learn how to:

• Create an effective overview plan
• Formulate a calAndar of events, mailings, and strategies to attract contributions
• Draw fundraising ideas from financial data
• Strengthen your donor and prospect lists
• - Survey your board to refine its mission
• Produce a basic funding proposal and press kit
• Prepare clear status reports for the board, development staff, and key fundraising participants
• Track progress towards your funding goal

• Understanding the Big Picture
• Deciding Plan Inputs
• Putting the Plan Together
• Monitoring the Plan

... Read more

Reviews (2)

Good Intro Book
This is a pretty solid introductory book to fundraising, donor management, proposals, etc. If you are new to the business I would definitely recommend it, though more experienced people might not find it quite as helpful. (though there are still a some good nuggets of information)

A "real" working model
Terry & Doug Schaff have provided a virtual road map in The Fundraising Planner. The information is presented in a clear and well thought out manner presenting information that can be seamlessly inserted into your current programs. The planner illustrates how to develop, plan and implement the strategies necessary to conduct successful and accountable fundraising activities.

This book truly has something for everyone. From the neophyte to the seasoned professional, the Schaffs have provided a tool that will take your plans to the next level. The planner truly is a step-by-step guide that does not insult the reader with coddling phrases and usless data. Each chapter delves ever deeper into the raison d'etre for each mechanism used to move the fundraising process.

As a Development Director I found many applications within the planner that I can utilize to complement my planning activities. The real world applications provided after each step are valuable exercises as you facilitate your yearly planning process. The information presented is very timely, relevant and useful.

Well Done! ... Read more

Book Description

Whether your business is just a gleam in your eye, a newly launched operation, or a full-fledged firm that's humming right along, you'll never experience real growth without a substantial infusion of cash. Long gone are the days when venture capital groups seemed to pour millions into every "next big thing." Now it's clear that there is real competition for investors, and that only the most viable businesses -- and carefully executed fundraising -- will reap the capital necessary to drive continuous growth.

Raising Capital is the definitive guide for entrepreneurs and growing companies that need to raise capital. The book covers every phase of the growth cycle, and provides tools for building business plans, preparing loan proposals, drafting offering materials, and much more. Now in its second edition,Raising Capital includes a wide variety of updates to reflect the realities of the post-dot-com bust, new trends in private equity markets, and the impact of the Sarbanes-Oxley Act, a crucial piece of legislation that establishes new corporate governance requirements in the wake of high-profile accounting scandals.

The book takes you through every stage of the capital process, and provides a bevy of alternatives to evaluate in determining your company's capital strategy. The four parts cover:

* Getting Ready to Raise Capital: capital-formation strategies, plus recent trends; understanding legal and governance structures and how they affect your ability to raise and use capital; and the role your business plan plays in securing capital

* Early-Stage Financing: start-up financing; "bootstrapping," or doing less with more at a stage in your business where "cash is king"; private placements versus commercial lending; leasing, factoring, and government programs

* Growth Financing: strategies for obtaining venture capital; how venture capital transactions work; preparing for and executing an initial public offering (IPO)

* Alternatives to Traditional Financing: franchising, joint ventures, co-branding, licensing, and other strategic alliances; mergers and acquisitions; plus the Capital Formation Business Growth Resources Directory

Raising Capital provides a huge selection of checklists, charts, sample forms to expedite the capital formation process, and the author relates eye-opening "war stories" and perspectives from the investor's side of the table that will help you avoid pitfalls and guide your business confidently through every growth stage. Featuring comprehensive coverage of all recognized capital strategies, this timely book will help you navigate the murky (and often rough) waters of capital formation. ... Read more