1. Venture Planning Chapter 19 Dowling Fall 2005
The Harvest and Beyond
Venture Planning
Chapter 19
Dowling
Fall 2005

2. The Harvest and Beyond

3. Harvest Strategy Guidelines Patience Realistic valuation
Outside advise

4. The Harvest and Beyond First, Build a Great Company
Create harvest options
A harvest goal
Creating a harvest strategy: Timing is vital
Patience
Vision
Realistic Valuation
Outside Advice

5. The Harvest and Beyond Harvest Options Capital cow
Employee stock ownership plan (ESOP)
Management buy out
Merger, acquisition and strategic alliance
Outright sale
Public offering
Wealth-building vehicles

6. Number of Recent IPOs Years 1996 through 2001
Source: Thomas Financial/Venture Economics and National Venture Capital Association, January 7, 2002.

7. Recent IPO ($ Millions)
Years 1996 through 2001
Source: Thomas Financial/Venture Economics and National Venture Capital Association, January 7, 2002.

8. Success in the Entrepreneurial Process
Two habits necessary
A passion for achieving goals
A relentless competitive spirit and desire to win

9. The Harvest and Beyond A Journey, Not a Destination
The thrill of the chase.
Most entrepreneurs plan not to retire, and would do it again – only sooner.
For the vast majority of entrepreneurs, it takes 10, 15, even 20 years or more to build a significant net worth.

10. The Harvest and Beyond Beyond the Harvest College endowments
Community activities
Investing in new companies

11. The Harvest and Beyond Final Words from Timmons
Innovation, job creation, and economic renewal and vibrancy are all results of the entrepreneurial process. The complicated and little understood process is not caused by government, though it is facilitated and/or impeded by it The process is created by entrepreneurs, investors, and hard-working people in pursuit of opportunities.