1. 19 - 1 Copyright © 2009 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin

2. 19 - 2 Chapter 19 The Harvest and Beyond

3. 19 - 3 Harvest Strategy Guidelines Patience Realistic valuation Outside advise

4. 19 - 4 Harvest Options Seven principle avenues “Capital cow” Employee stock ownership plan Management buyout Merger, acquisition, and strategic alliance Outright sale Public offering Wealth-building vehicles

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7. 19 - 7 Renewal and Perpetuation of the Entrepreneurial System Highly successful entrepreneurs foster new growth by giving money to the following: College endowments Community activities Investment in new companies

8. 19 - 8 Success in the Entrepreneurial Process Two habits necessary A passion for achieving goals A relentless competitive spirit and desire to win

9. 19 - 9 Secrets to Success Seven points for your contemplation and amusement There are no secrets; understanding and practicing the, along with hard work, will get results As soon as there is a secret, everyone else knows about it, too; searching for secrets is a mindless exercise Happiness is a positive cash flow

10. 19 - 10 Secrets to Success Seven points for your contemplation and amusement If you teach a person to work for others, you feed him or her for a year, but if you teach a person to be an entrepreneur, you feed him or her, and others, for a lifetime Do not run out of cash

11. 19 - 11 Secrets to Success Seven points for your contemplation and amusement Entrepreneurship is fundamentally a human process, rather than a financial or technological process; you can make an enormous difference Happiness is positive cash flow