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Chapter 19 The Harvest and Beyond
Harvest Strategy Guidelines Patience Realistic valuation Outside advise
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
19 - 5
19 - 6
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
Success in the Entrepreneurial Process Two habits necessary A passion for achieving goals A relentless competitive spirit and desire to win
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
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
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