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 PAUL BURNS

/
= -------

0 ~ Ll,v«'

RESOURCE

"It,,q I LI>.</,'-'«,
 Contents G)
Spotting opportunity 43
Nurtu ring creativity and innovation 50
Active discovery 53
Techniques for exploring change 56
Techniques for exploring product inadequacies 60
Summary and action points 67
Workbook exercises 67

Academic insights I Case insights •

2.1 How to challenge market 2 .1 Bizarre 2.10 Great Ormond
conventions business ideas Street Hospital
2.2 Symptoms of change 2.2 Summly 2 .11 Swarfega
2.3 Measuring your creativity 2.3 Swatch 2 .12 Henry Ford
2.4 Thinking outside the 2 .4 DU PLAYS 2.13 The Million
box - connect ivity 2 .5 Bloom & Wild Dollar
2.5 Discovery skills 2 .6 TutorVista Homepage
2.6 Thinking inside t he box - 2.7 Mamanpaz 2 .14 Fetchr
Systemat ic Inventive 2.8 On Mobile 2 .15 Nik wax
Thinking 2.9 Enabled 2 .16 Maggie's
Employment Sofa-bed Factory

INDUSTRY AND MARKETS

3 Understanding your industry and markets 70

The importance of research 72
Describing your markeVindustry 72
MarkeVindustry life cycle 73
MarkeVindustry concentration 75
MarkeVindustry geographic extent 76
Market research 80
Estimating your market size 84
Identifying your competitors 85
SWOT analysis 90
Industry futures 91
Screening and go/no-go decisions 95
Summary and action points 99
Workbook exercises 100

Academic insights I Case insights •

3.1 Porter's Five Forces - 3.1 V ideo gaming 3.6 Novo Nordisk
assessing industry industry in India 3.7 Bill Gates and
competitiveness 3.2 Online dating M icrosoft
3.3 Temple & 3.8 Convergent
Webster US technology
3.4 The internet markets
market in China 3.9 Nuffnang
3.5 Internet start-ups Sofa-bed Factory
in Iran
G) Contents

Business model development phase 105

MARKET SEGMENTS ANO VALUE PROPOSITIONS

4 Structuring your business model 106

Bringing your idea to life 108
Using the New Venture Creation Framework 111
Generic business models 116
Generic business models and critical success factors 119
Generic business models and competitive advantage 120
Niche business model 123
Internet business models 126
Low-cost market testing 128
Characteristics of a good business model 134
Summary and action points 137
Workbook exercises 137

Academic insights I Case insights •

4.1 Effectuation 4.1 MOMA
4.2 Business Model Canvas and 4.2 Streetcar (now Zipcar)
Lean Canvas 4.3 African Renewable Energy
4.3 Generic business models Distributor (ARED)
and competitive advantage 4.4 easyJet (1)
4.4 Lean start-up 4.5 Quad Electroacoustics
4.5 The customer development 4.6 Morgan Motor Company
process 4.7 Escape to the Cape
4.8 Web2.0
4.9 Pinterest
4.10 Amanti Cupcakes
4.11 TruffleShuffle
4.12 Hide My Ass!
Sofa-bed Factory

5 Crafting your value proposition and branding 140

You r values and vision 142
Identifying your target customers 144
Defining your value proposition 145
Creating value th rough values 147
Differentiation through branding 150
The role of design in branding 151
Branding you r values 157
Sustainable entrepreneurship and social responsibility 158
Private or social enterprise? 161
Building the brand 164
You r mission statement 165
Summary and action points 170
Workbook exercises 170
 Contents G)
Academic insights I Case insights •
5.1 Strategic intent and 5.1 Ferrero
kosoryoku 5.2 Apple MacBook Pro
5.2 Service-dominant marketing 5 .3 Dell Corporation
logic 5 .4 Apple iMac
5.3 Values-driven marketing 5 .5 Zound Industries
5.4 Design thinking 5.6 Ecotricity
5.5 Creating competitive 5.7 Goodone
advantage through design 5.8 Richard Branson and Virgin (1)
5.6 Environmental sustainability 5.9 easyJet (2)
and waste reduction 5 .10 Golden Krust (2)
5.7 Commercial value of CSR 5 .11 Adrenaline Alley
Sofa-bed Factory

MARKETING PLAN

6 Developing your marketing m ix 174

Marketing mix 176
Linking features and benefits with marketing mix 178
Channels of distribution 181
Understanding customer and consumer benefits 182
Prices and costs 185
Setting your prices 187
Prices and volumes 187
Pricing high fixed -cost products 191
Pricing zero-cost products 192
Changing you r prices 194
Allocating sales effort across a product portfolio 195
Allocating scarce resources 196
Summary and action points 200
Workbook exercises 200

Case insights •
6.1 The English Pub (1)
6.2 Flying Tiger Copenhagen (1)
6.3 Property Fox
6.4 Abel & Cole
6.5 Mobike
6.6 Zaytouneh (now Atbaki)
6.7 Lush
Sofa-bed Factory t::J:

7 Communicating your value pro position 205

The customer journey 207
Finding your first customers 209
Developing your sales skills 210
Dealing with objections 211
Closing the sale 212
G Contents

Communications media 213

Social networks and media 214
Guerrilla marketing 215
Publicity and public relations {PR) 217
Advertising 218
Developing a communications campaign 219
Creating awareness 221
Price and the buying decision 222
Distribution channels and the buying decision 223
Customer feedback and evaluation 224
Penetrating your market 224
Summary and action points 229
Workbook exercises 230

Academic insights II case insights Ill

7.1 Seven principles for 7.1 Huddle
communication 7.2 BicycleSPACE
7.2 Integrated marketing 7.3 Instant Pot
communication (IMC) 7.4 American Giant
7.5 Good Hair Day
7.6 Clippy
1.1 Jack Wills - University Outfitters
Sofa-bed Factory

8 Scalability an d growth 234

Scaling-up strategies 236
Market development 238
Sales agencies and franchises 239
Selling into foreign markets 242
Evaluating potential in foreign markets 244
Product development 245
Developing a product portfolio 248
Marketing strategy and product portfolios 249
Cash flow and product portfolios 250
Using diversification to achieve market dominance and reduce risk 253
Using acquisition for market and product development 257
Summary and action points 260
Workbook exercises 260

Academic insights • Case insights Ill

8.1 Sticking to the knitting 8 .1 lnvoice2go 8.6 Mind Candy and
8 .2 Ahmed Khan and Moshi Monsters
McDonald's 8.1 Croes™
8.3 Flying Tiger 8.8 Brompton Bicycle
Copenhagen (2) 8.9 Reliance
8.4 Figleaves Industries
8 .5 Zoobug Sofa-bed Factory
 Contents G
OPERATIONS PLAN

9 Legal foundati ons 264

Safeguarding your business idea 266
Intellectual property (IP) law 266
Legal forms of commercial business 272
Legal forms of social enterprise in the UK 274
Business failure 276
Personal insolvency in the UK 284
Corporate insolvency in the UK 286
Corporate governance 289
Summary and action points 291
Workbook exercises 291

Academic insights I Case insights •

9.1 Business failure 9.1 Trunki 9.5 Alex Meisl
9.2 Learning from failure 9.2 Xmi 9.6 ZedZed.com
9.3 The English 9.7 Cobra Beer
Grocer Sofa-bed Factory
9.4 Starbucks
Australia

10 Managi ng operati ons and risk 293

Managing operations 295
Key marketing activiti es 296
Identifying key activit ies 297
Key retail activit ies 297
Key internet business activiti es 302
Key manufacturing business activiti es 304
Key service business activities 306
Entrepreneurs and risk taking 306
Identifying risks 307
Assessing risks 309
Mitigating risks 310
Monitoring risks 310
Partnerships, strategic alliances and joint ventu res 311
Generic risk management strategies 313
Risk management, critical success factors and strategic options 317
Operating plans and critical paths 320
Summary and action points 325
Workbook exercises 325

Academic insights I Case insights •

10.1 The benefits of 10.1 Ice Cream Mama 10.6 Gordon Ramsay
partnerships and 10.2 Cotton On Group 10.7 Flying Tiger
strategic alliances 10.3 Made.com Copenhagen (3)
10.4 Smak Parlour 10.8 Kirsty's
10.5 Richard Branson Sofa-bed Factory
and Virgin (2)
G Contents

RESOURCES

11 Managing and leadin g people 331

People, people, people 333
Recruiting people 333
Attracting the right people 336
Using professional advisors 338
Selecting and developing a team 340
Building structure 342
Structure and control 345
Structure, task and environment 348
Structure and cu ltu re 349
Shaping organizational culture 350
Leadership and management 353
Defining the role of leader 353
Personal attributes of leaders 355
Leadership style and contingency theory 356
Entrepreneurial leadership 361
Summary and action points 367
Workbook exercises 368

Academic insights O Case insights •

11.1 Growth models 11.1 Google
11.2 Shared cognition 11.2 AirAsia
11.3 Belbin's team roles 11.3 Steve Jobs and Apple (2)
11.4 Control and motivation Sofa-bed Factory
11.5 Authentic leaders
11.6 Dealing with conflict
11.7 Leadership paradigms
11.8 Entrepreneurial architecture

12 Financial resources 373

Selecting the right sort of finance 375
Bank loans and overdrafts 380
What banks look for 382
Banking relationship 384
Angel and ventu re fi nance 387
What investors look for 389
Crowdfunding 390
Fin Tech 394
The funding ladder 395
Summary and action points 399
Workbook exercises 399
 Contents e
Academic insights I Case insights •
12.1 Sources of finance used by 12.1 Hotel Chocolat
small firms in the UK 12.2 Lingo24
12.2 Agency theory and 12.3 Solar Power Company Group
information asymmetry (SPCG)
12.3 Is there d iscrimination in 12.4 Grameen Bank
lending? 12.5 Purplle.com
12.6 Zopa
12.7 Kickstarter
12.8 Hamijoo
12.9 lnSpiral Visionary Prod ucts
12.10 FarmDrop
12.11 Crowdcube
12.12 TransferWise
Sofa-bed Factory

FINANCIAL PLAN

13 Preparing and using financial forecasts 402

Financial objectives 404
Forecasting sales turnover and costs 405
Forecast income statement 407
Forecast breakeven point 408
Using breakeven and contribution margins 410
Forecast cash flow statement 411
Forecast balance sheet 412
Performance metrics and fi nancial ratio analysis 414
Evaluating your performance 417
SMART performance metrics 418
Controlling performance 420
Valuing you r business 420
Go/no-go or pivot? 423
Summary and action points 430
Workbook exercises 431

Academic insights I case insights •

13.1 Entrepreneurial optimism 13.1 The English Pub (2)
and fo recast bias Sofa-bed Factory

Launch phase 441

BUSINESS MODEL AND BUSINESS PLAN

14 Preparing, using and validating the business plan 442

Business model or business plan? 444
Purpose of a business plan 445
Structure and content of a business p lan 446
e Contents

Tips for a business plan 451

Using your plan to obtain finance 451
Presenting you r case for finance 454
Validating the plan 455
Undertaking a strategic review 456
Harvesting your investment 461
Summary and action points 463
Workbook exercises 463

Academic insights D Case insights •

14.1 Do formal business plans 14.t wiGroup
really help? 14.2 audioBoom
14.2 Entrepreneurial strategy 14.3 Moonpig
development

Glossary 466
Subject index 479
Author index 482
Quotes index 484
 Case i nsight Topic Sector Country Page

Chapter 1 What you bring to entrepreneurship

1.1 Julie Spurgeon and Lifestyle start-up Art and design
~ 8
Material Pleasures
UK
1.2 Kiran Mazumdar-Shaw 10
and Biocon
Millionaire
entrepreneur
Biotechnology
!:Cl
India
Angie Coates and Motivation and risk Service
1.3
~ 13
Monkey Music
UK
1.4 Ambareen Musa and
Souqalmal
The importance of social
and human capital
Finance/ Internet
c
UAE
15

1.5

1.6
Adam Schwab and Lux
Group
Sahar AI Kaabiand
Infl uences on
entrepreneurship
E-commerce
-
Australia
22

24
Sadat Gallery
Infl uences on
entrepreneurship
Retail
ill
Oman
1.7 Lowell Hawthorne and Immigrant Food production
~ 27
Golden Krust (1) entrepreneurs
USA
1.8 Steve Jobs and Apple Entrepreneurial character Manufacture
~ 28
(1) USA
Chapter 2 Finding your business idea
Bizarre business ideas Business ideas Various
2.1
~ 39
USA
2.2 Summly Creating opportunity Internet 41
UK/
Australia
2.3 Swatch Creating opportunity -
market paradigm shift
Manufacture
c
Switzerland
43

through design
2.4 DU PLAYS Spotting opportunity -
unmet demand
Sports
c
UAE
45

Bloom & Wild Spotting opportunity - Retail 46

2.5
~
reimagining the value
UK
chain

xv
G Index of case insights

Topic • • ••
2.6 TutorVista Spotting opportunity - lnterneVService 47
developing the supply eel
chain India
2.7 Mamanpaz Spotting opportunities - Food production 48
ideas from other countries and delivery
c:cl
Iran
2.8 OnMobile Spotting opportunity -
the right ti me, right
place
lnterneVService
cc
India
48

2.9 Enabled Employment Spotting opportunity in

adversity
Employment
Agency -
Australia
49

2.10 Great Ormond Street Connectivity - transferring Public sector

~ 52
Hospital ideas
UK
2.11 Swarfega Connectivity - reusing Manufactu re
~ 53
ideas
UK
2.12 Henry Ford Creating opportunity - Manufactu re
~ 57
market paradigm shift
USA
using d iscovery skills
2.13 The Million Dollar Brainstorming fo r business Internet
~ 58
Homepage ideas
UK
2.14 Fetchr Spotting opportunities -
solutions to problems
Internet
c
UAE
61

2.15 Nikwax Spotting opportunity - Manufactu re

~ 64
inadequate products
UK
2.16 Maggie's Spotting opportunity in a Service/ Social
~ 65
social enterprise enterprise
UK
Chapter 3 Understanding your industry and markets
3.1 Video gaming industry
in India
Market research -
identifying opportunities
Video gaming
w
India
77

and challenges
3.2 Online dating Market research - Internet service 78
identifying opportunities
and challenges
G
Global
3.3

3.4
Temple & Webster

The internet market in

Spotting gaps in the
market

Market research -
E-commerce

lnterneV
-
Australia
83

87
China identifying opportunities e-commerce
China
and challenges
3.5 Internet start-ups in Iran Market research - lnterneV 89
identifying opportunities e-commerce
c:cl
Iran
and challenges
 Index of case insight s e
Topic • •••

3.6 Novo Nordisk Scenario planning Pharmaceuticals

==
Denmark
92

3.7 Bill Gates and Microsoft Looking to the future Internet

~ 93
USA
3.8 Convergent US Scenario planning - Internet, e-
~ 94
technology markets identifying competitors commerce and
USA
in an emergent market technology

~
3.9 Nuffnang Matching opportunity Internet 98
with skills
Singapore
Chapter 4 Structuring your business model
4.1 MOMA Bringing an idea to life Food production/
~ 110
retail
UK
4.2 Streetcar (now Zipcar) Developing a business Service
~ 115
model for market paradigm
UK
shift

~
4.3 African Renewable Developing a business Service/ Solar 118
Energy Distributor model - spotting power
(ARED) opportunity Rwanda
4.4 easyJet (1) Developing a low price/ Air transport
~ 121
cost business model
UK
4.5 Quad Electroacoustics Developing a niche Manufacture
~ 124
business model
UK
4.6 Morgan Motor Company Developing a niche Manufacture
~ 125
business model
UK
4.7 Developing a niche Service 125
Escape to the Cape
business model El
South Africa
4.8 Web 2.0 US high-growth, web Internet
~ 127
start-ups
USA
4.9 Pinterest Developing a business Internet
~ 129
model for a radical
USA
innovation
4.10 Amanti Cupcakes Low-cost market testing Food production
~ 132
and retail
UK
4.11 TruffleShuffle Lean start-up E-commerce
~ 133

UK
4. 12 Hid e My Ass! Lean start-up and Internet
~ 135
developing a business
UK
model
e Index of case insights

Case insight Topic Sector Country Page

Chapter 5 Crafting your value proposition and branding

5.1 Ferrero Values and beliefs Food production
u
Italy
143

5.2 Apple MacBook Pro Value propositions Manufacture

~ 147

USA
5.3 Dell Corporation Changing your value Manufacture
~ 148
proposition
USA
5.4 Apple iMac Creating opportunity - Manufacture
~ 152
market paradigm change
USA
through design
5.5 Zound Industries Differentiation by design Manufacture
=
Sweden
155

5.6 Ecotricity Environmental Solar power

~ 162
opportunities and value
UK
enhancement
5.7 Goo done Private or social Manufacture and
~ 163
enterprise? retail
UK
5.8 Richard Branson and Building the brand Conglomerate
~ 166
Virgin (1)
UK
5.9 easyJet (2) Mission statements Air transport
~ 167
UK
5.10 Golden Krust {2) Blending vision, mission Food production
~ 168
and values
USA
5.11 Adrenaline Alley Blending vision, mission Sports
~ 168
and values in a social
UK
enterprise
Chapter 6 Developing your marketing mix
6.1 The English Pub (1) Linking value propositions, Cafe/restaurant
~ 177
market segments and
UK
marketing mix
6.2 Flying Tiger
Copenhagen (1)
Price-point retail business
model
Retail

==
Denmark
184

6.3 Property Fox Linking low price to low

costs in the business
Estate agent
PS 189

model South Africa

6.4 Abel & Cole Pricing high and creating Food delivery/
~ 190
differential advantage internet
UK
6.5 Mobike Business models and Service/Internet 191
competitive advantage
China
 Index of case insights e
Topic • •••

Zaytouneh (now Atbaki} Monetarizing website Internet 194

6.6
content E:l
Jordan
6.7 Lush Target markets, value Retail
~ 196
propositions and the
UK
marketing mix
Chapter 7 Communicating your value proposition
7.1 Huddle Getting noticed, getting Internet service
~ 2 10
used and getting
UK
customers
7.2 BicycleSPACE Using social media as a Retail
~ 215
retailer
USA
7.3 Instant Pot Using social media as a Manufacture 216
manufacturer
[!)
Canada
7.4 American Giant Using PR Online retail
~ 217

USA
7.5 Good Hair Day Start-up marketing Manufacture
~ 222
strategy
UK
7.6 Clippy Minimizing start-up costs Manufacture
~ 225
UK
7.7 Jack Wills - University Low-cost marketing Retail
~ 227
Outfitters
UK
Chapter 8 Scalability and growth
8.1

8.2
lnvoice2go

Ahmed Khan and Mc-

Scaling up

Franchisees
Fin Tech

Restaurant
-
Australia
237

240
Donald's ~~
UK/USA
8.3 Flying Tiger Copenha-
gen (2)
Growth th rough
partnership
Retail
==
Denmark
241

8.4 Figleaves Using the internet to E-commerce

~ 243
penetrate overseas
UK
markets
8.5 Zoobug Exporting Manufacture
~ 244
UK
8.6 Mind Candy and Moshi
Monsters
New product development
risk
Video games
~ 246
UK
8.7 Croes™ Niche product life cycles Manufacture/
~ 251
Retail
USA
G Index of case insights

Topic • • ••
8.8 Brompton Bicycle Growth strategies Manufacture and ~ 256
retail
UK
8.9 Reliance Industries Family-owned Conglomerate 258
conglomerates
India
Chapter 9 Legal foundations
9.1 Trunki Registered design
infringement
Manufacture
~ 270
UK

~
9.2 Xmi Combati ng counterfeiters Manufacture 271

Singapore
9.3 The English Grocer Reasons for failure Retail
~ 280
UK
9.4 Starbucks Australia Business failure going Retail 281
overseas

9.5 Alex Meisl Dealing with failure Telecom and

~ 283
consu ltancy
UK
9.6 ZedZed.com A personal view of failure: Internet service
~ 286
'Don't pity the pioneers -
UK
envy us for our experience'
9.7 Cobra Beer Company voluntary Brewing
~ 288
arrangements
UK
Chapter 10 Managing operations and risk
10.1 Ice Cream Mama Retail location Manufacture/
Retail lilm 300

Oman
10.2 Cotton On Group Critical success factors E-commerce 301

10.3 Made.com Business models and risk E-commerce

~ 304

UK
10.4 Smak Parlour Business models and risk Manufacture & 314
retail
USA
10.5 Richard Branson and Compartmentalizing risk Conglomerate
~ 316
Virgin (2)
UK
10.6 Gordon Ramsay Business models and risk Restaurant
~ 317
UK
10.7 Flying Tiger Copenha-
gen (3)
Developing an operating
model and identifying risks
Retail
=
Denmark
318

10.8 Kirsty's Simplifying operations and Food production

~ 321
minimizing risk
UK
 Index of case insights G
Case i nsight Topic Sector Country Page

Chapter 11 Managing and leading people

11.1 Google Team working Internet service
~ 345

USA

~
11.2 AirAsia Organizational culture Air transport 352

Malaysia
11.3 Steve Jobs and Apple Entrepreneurial lead ership Manufacture
~ 364
(2)
USA
Chapter 12 Financial resources
12.1 Hotel Chocolat Raising funds from Food production
~ 377
customers and retail
UK
12.2 Lingo24 The funding dilemma Service
~ 379

UK
Solar Power Company Obtaining finance for new Solar power
12.3
Group (SPCG) technology 8 381

Thailand
12.4 Grameen Bank Solidarity lending Finance 382

Bangladesh
12.5 Purplle.com Early stage fi nance E-commerce
w
India
388

12.6 Zopa Peer-to-peer lending Finance

~ 391
UK
12.7 Kickstarter Niche crowdfunding Finance 392
rewards platform
USA
12.8 Hamijoo Niche crowdfunding Finance 393
rewards platform
c:::l
Iran
12.9 lnSpiral Visionary Equity crowdfunding Food production
~ 394
Products platform and retail
UK
12.10 Farm Drop Equity crowdfunding Food distribution
~ 395
platform
UK
12.11 Crowdcube RnTech start-up Fin Tech
~ 396
UK
12.12 TransferWise RnTech start-up Fin Tech
~~ 396
UK/Estonia
Chapter 13 Preparing and using financial forecasts
13.1 The English Pub (2) Using financial metrics to Cafe/ restaurant
~ 421
monitor performance
UK
e Index of case insights

Case insight Topic Sector Country Page

Chapter 14 Preparing, using and validating the business plan

14.1 wiG roup Pivoting Internet 457
IE
South Africa
14.2 audioBoom Pivoting Internet
~ 460
UK
14.3 Moonpig Harvesting your invest-
ment
lnterneV
e-commerce
~ 462
UK
Figures
1. 1 Barriers and triggers to entrepreneurship 11
1.2 Start-up capital 14
1.3 Character traits of entrepreneurs 16
1.4 Influences on our character traits 20
1.5 Dimensions of national culture 23

2.1 New venture typologies 37

2.2 Generating a business idea 50
2.3 Creativity through active discovery 54
2.4 Mind map for a shop opening 60
2.5 Technique 1: spotting a commercial opportunity arising out of change 60
2.6 Technique 2: spotting a commercial opportunity arising out of an
inadequate existing product or service 62
2. 7 A perceptual map for desserts 63
2.8 Technique 3: spotting or creating commercial opportunity using gap analysis 64

3.1 Market life cycles 73

3.2 Market size definitions 85
3.3 The screening process ahead of the go/no-go decision 97

4.1 Framework Worksheet 112

4.2 PowerPoint version of Framework Worksheet 112
4.3 PowerPoint version of Framework Worksheet with sticky notes 112
4.4 The Business Model Canvas 113
4.5 Generic business models 117

5.1 Values-driven marketing 149

5.2 Layers of differentiation 152
5.3 The double diamond design process 153
5.4 Hierarchy of virtue 159
5.5 Values, mission, vision, strategies and tactics 167

6.1 Features, benefits and marketing mix for pens 180

6.2 Typical distribution channels for a physical product sold through
physical channels 182
6.3 Distribution channels for a web or mobile product sold through web or
mobile channels 182
6.4 The difference between customer and consumer benefits 183
6.5 The pricing range 186

7.1 The customer journey - the buying process and loyalty chain 207

8.1 Growth options 237

8.2 Degree of involvement in foreign markets 243
8.3 Growth Share Matrix 248

xxiii
e List of figures and tables

8.4 Strategy implications of the Growth Share Matrix 249

8.5 Presenting strategy using the Growth Share Matrix 250
8.6 Product development options shown on the Growth Share Matrix 250
8.7 Cash flow implications of the Growth Share Matrix 251
8.8 The twilight zone of risk 255
8.9 Brompton Bicycle growth strategies 256

9.1 Causes of business failure 277

9.2 Role of the board of directors 289

10.1 Hierarchy of activities 296

10.2 Risk classification 309
10.3 Setting risk and maximizing return 313
10.4 Gantt chart for opening a store 321

11.1 Growth stages of a firm 334

11.2 Meeting your skills needs 339
11.3 Spider's web organizational structure 342
11.4 Growing web structure: informal reporting lines 343
11.5 Simple hierarchy, 5 people: 4 interactions 343
11.6 Self-organizing team, 5 people: 10 interactions 343
11.7 Hierarchical structure 344
11.8 Matrix structure 344
11.9 Control vs. autonomy 347
11.10 Structure, task and environment 348
11.11 The cultural web 350
11.12 Influences on organizational culture 350
11.13 Leadership styles and control 357
11.14 Leadership style 357
11.15 Leader and task 358
11.16 Leader and group 358
11.17 Thomas- Kilmann Conflict Modes 359
11.18 Four pillars of organizational architecture 362
11.19 Entrepreneurial leadership 362
11.20 Constructing an entrepreneurial architecture 363

12.1 Selecting the appropriate sort of finance for a new venture 378

13.1 Breakeven point 408

13.2 Death Valley curve of cash flow for a start-up 412

14.1 Strategy review framework 458

14.2 Strategy formulation cycle 459

Tables
1.1 Behaviours associated with entrepreneurial character traits 19

3.1 Characteristics of desk and field research 80

3.2 Techniques for field research 82

4.1 Generic strategies and business imperatives 120

5.1 Features and benems 146

5.2 Advantages of branding 151
Another Random Scribd Document
with Unrelated Content
Fat meat and butter cause heat and often make the blood gross.
Such diet is improper during warm weather and, therefore, we do
not crave it. If we lived in the arctic regions, we would soon learn to
drink oil like water, and to eat tallow candles as though they were
pieces of crisp celery.
Highly seasoned food should not be eaten. It may be salted to suit
the taste, but pepper is harmful.
 WHEN AND HOW MUCH TO EAT.
Eat nothing between meals, which should always be at regular
hours. Partake sparingly of sugar, candy, and sweetmeats. In eating
the meat of walnuts, filberts, chestnuts, etc., use salt.
Children, like some grown persons, are apt to eat more food than is
good for them. You have heard people say that you ought to leave
the table while still hungry, but if that is true, there can be no need
of sitting down to eat. The true course is to cease eating, while you
still have a relish for food.
 CHEERFULNESS AND APPETITE IN EATING.
The table is not the place for argument or dispute. The conversation
should be cheerful, and all should try to be happy. Do not begin any
kind of work, physical or mental, until fully a half hour after the meal
is finished.

Showing the position of (A)

Heart, (B) Lungs, (C) Liver, (D)
Stomach, (f, j, etc.) Intestines.
Eat very little if the mind is excited, and do not eat at all, if you do
not feel hungry. Never coax the appetite. Do not eat heartily within a
few hours of bed-time.
If your appetite is poor, it is well to omit the last meal of the day.
One of the best medicines in the world is a scant diet of wholesome
food. Overeating and fasting are hurtful.
Remember that that which agrees with one may disagree with
another. Rice is one of the most easily digested articles of food, and
yet some persons cannot retain it on their stomachs. Your own sense
will soon tell you what best agrees with you. Follow the advice of
your parents, who know what is good for their children.

In what manner should we eat? Why? What bad habit are children likely to form?
What should constitute our principal diet? What is said of pies and cake?
What is said of fat meat, butter, and greasy food? How would our tastes change, if
we lived in the arctic regions?
What is said of highly seasoned food? What is said of salt and pepper?
Of eating between meals? Of sugar, candy, and sweetmeats? How should nuts be
eaten?
What are children apt to do? What is the true course?
What of argument and dispute at the table? What advice is given?
What should be done if the mind is excited, or you do not feel hungry? Should the
appetite be coaxed?
Suppose your appetite is poor? What of overloading and fasting?
Is the same kind of food good for everybody? How can you learn what is best to
eat? What advice should be followed?
 CHAPTER V.

THE HAIR, EARS, EYES, AND FEET.

The hair needs little attention. A boy should not wear it long and it
should be carefully combed and brushed. Girls who let theirs grow
longer should have it frequently clipped, as it gives it vigor.
Never put oil or grease on the hair, for it catches and holds the dirt
in the air, soils clothing, clogs the pores at the roots, and tends to
produce baldness.
If you will brush your hair vigorously for several minutes every
morning, it will soon acquire a gloss and look better than if smeared
with pomatum. The odor will be pleasant and the hair will not ruin
articles and clothing with which it comes in contact. Now and then it
is well to clean the hair with Castile soap, warm water and a strong
brush. Shampooing is excellent.
Hair is a non-conductor of heat,—that is, very little heat or cold can
be made to pass through it. It serves as a protection to the brain.
While a great many men are baldheaded, you very rarely see a
woman thus afflicted. This is because they do not wear air-tight
coverings for their heads, but the scalp is kept cool and healthy. It is
a good thing for children to leave off their hats and caps, except
when necessary to protect them out-of-doors.
 THE EAR.

THE EAR.—Showing External Ear and Internal Ear. (1)

Auditory Canal, (2) Drum of the Ear, (3, 4, 5, 6) Bones
of the Ear, (7, 8, 9, 10) Semi-circular Canals, and
Cochlea or Snail Shell, (11) Eustachian Tube, leading to
Throat.

The ears need even less care than the hair, for that which is called
by the name, is only the covering of the true ear. Every boy and girl
will make sure that when the face and hands are washed, the neck
and ears are not forgotten. The shape of the outer ear causes it to
catch many of the particles always floating in the air. These can be
easily removed with the end of the forefinger, covered by a portion
of a moist towel.
Do not pick the ears. The wax is placed there by nature for a wise
purpose. It keeps out dirt and insects and protects from injury the
delicate organs of the true ear within. If the wax becomes too
abundant or hard, it can be easily removed with the forefinger. If
anything more is required, go to a doctor.
 THE EYE.
The eye is the most wonderful organ of the body, and with simple
care can be preserved all through life. Boys and girls who have
bright, strong eyes are apt to weaken them by carelessness in their
use.

THE EYE.—Showing Iris, Pupil, (G) Tear Gland, (D) Tear

Lake, (C) Tear Duct, leading to nose.

You should never apply water, either warm or cold, to the eyeball.
When washing your face, keep your eyes closed, but wash the
corners and outer surface. The gummy substance which sometimes
collects is thus removed without trouble. It is well sometimes to
close the eyes and rub them briskly, just as we feel like doing on
awaking from sleep.
 HOW TO USE THE EYES.
Never strain the eyes by trying to read or examine anything closely
when the light is poor. When it becomes an effort to see distinctly,
cease the effort at once. A strong glare of light is also hurtful.
In reading or study, do not permit the light to fall on the page from
the front. It should pass over the shoulder, the left being preferable.
It is well also to wear a shade over the forehead, especially when
writing at night, and it is necessary that the light should come from
the front, on account of the shadow made by the hands.
When the eyes become weary and the letters or figures begin to
dance and flicker, cease work. If a cinder lodges under the lids, do
not attempt to remove it by rubbing; that only adds to the irritation.
Close the eye and then carefully draw the upper lid over the lower.
This will cause a flow of the fluid of the eye which will probably wash
away the substance.
If this fails, a friend is not likely to have any trouble in removing the
object with the corner of a silk handkerchief. Should he find it
impossible to relieve you, go without delay to an oculist.
Sometimes the eyes of children have been weakened by sickness,
and it is necessary to use spectacles. When a boy or girl feels any
peculiar sensation about the eyes, or they seem to act wrongly, the
oculist should be appealed to at once.
 FEET.
The feet must be kept clean and warm. Some prefer cotton and
some woolen stockings. Use whichever are the most comfortable.
Never wear shoes that are too tight. If you do you will suffer in after
years from corns and bunions. The nails of the feet as well as of the
hand should be kept pared and clean, but their surface should never
be scraped.

What is said of the hair? What should be done by a boy? By a girl?

What objection have you to oil and grease?
How can the hair be made glossy? How is that superior to pomatum? How should
the head be cleaned?
Of what use is the hair? Why are so many men baldheaded? Why is it rare that we
meet a baldheaded woman? When only should the head be covered?
What is said of the ear? How should it be kept clean?
What of the wax in the ear?
What can you say concerning the eye? What is often done by boys and girls?
Tell how the eyes should be washed. What is it well to do now and then?
What is said of straining the eyes? What of a strong glare of light?
What rule should be followed in reading or study? What of a shade?
When should you cease using the eyes? What should be done if a cinder gets
under the lid?
What should be done if that fails?
When must spectacles be used, or an oculist consulted?
How must the feet be kept? Which are the better, cotton or woolen stockings?
What of tight shoes? What should be done with the nails?
 CHAPTER VI.

THE TEETH.

Few boys and girls take proper care of their teeth. All of us admire a
set of strong, sound, even, white teeth, and those who do not have
such, will tell how sorry they are because in youth they were so
careless that their teeth were ruined.
The teeth should be carefully cleaned each morning before
breakfast. This is best done with a good brush, Castile soap, and
lukewarm water. Use none of the numerous tooth-powders sold, and
never pick your teeth with a metallic substance. Quill, wooden, or
ivory tooth-picks only should be employed.
When the brush does not remove the stains from the teeth, the soft
end of a small stick, covered with powdered charcoal will answer,
though it should not be used often.
 INJURIES TO THE TEETH.
Very hot or cold food, or water, sweetmeats and acids injure the
teeth. Children sometimes like to show the strength of their teeth by
cracking hickory-nuts and other hard substances. This should never
be done, as the nuts and substances may prove stronger than the
teeth. The teeth are made of a soft kind of bone, covered with
enamel. The bone part of the teeth soon decays if the enamel is
broken.
 TWO SETS OF TEETH.
The first set of teeth, twenty in number, gradually become loose
after a child is five or six years old, and the second set, thirty-two in
number, crowds after them. The second are the teeth which are
meant to last all our life-time, and they should be guarded,
therefore, with the utmost care.
Sometimes the second teeth crowd so closely that the first become
wedged in place. The old tooth should be removed, just as soon as
the second can be discovered pushing after it. If this is not done, the
mouth will be filled with crooked and unsightly teeth.

THE PRINCIPAL TEETH.

The mother or father of any boy or girl will readily draw a loose
tooth, by means of a looped thread. Often, however, a brave child
will pull his own teeth, without help. Be on the watch and clear the
way for the second teeth. If you don't you will be sorry all your life.
Some children have poorer teeth than others, and the utmost care
will not save them from decay. When the first speck appears, go to
the dentist. Dentistry has made such improvements during the last
few years, that the poorest teeth can be made to last a long time.

What is said of boys and girls?

When and how often should the teeth be cleaned? What should be used for that
purpose? What is said of tooth-powders and tooth-picks?
How may stains be removed from the teeth?
What substances injure the teeth? What about cracking nuts and other hard
substances with the teeth?
How many teeth has a child? A man? When do the second teeth begin to appear?
How long is it intended they should last?
What sometimes takes place? What should be done? What will follow if this advice
is not heeded?
How are loose teeth generally pulled? Have you ever known of a boy or girl pulling
his or her own teeth? What must you watch for and do? Is there any need of such
care?
What is said of some children? When should you go to the dentist?
MUSCLES.
 CHAPTER VII.

EXERCISE.

Boys and girls are not likely to believe they need any instruction as
to exercise. They are so fond of play that all they ask is a chance
and they will use it to the utmost.
That form of exercise is best which brings most muscles into action.
It should not be too violent nor continued after one is tired. It
should be in the open air, and some kind of game is preferable
because it also engages and interests the mind.
 TESTS OF SKILL.
Base-ball, rowing, foot-ball, hare and hounds, skating, lacrosse, lawn
tennis and similar tests of skill have become so popular in this
country that the young need to be restrained from indulging too
much in them. After one's school-days are over and a young man
takes up some sedentary occupation, he should manage to gain
exercise every day.
The gymnasiums afford the best forms of exercise, but boys and
girls can walk, run, and use some of the simpler forms of gymnastics
at their homes. They should make sure they breathe pure air, that
they do not form bad habits, and are regular in everything daily
required of them.

What form of exercise is best? What should be guarded against? Where should it
be? What is preferable?
What games are popular? What should every boy do, after his school-days are
over?
What of the gymnasiums? What can be done by all boys and girls? Of what should
they make sure?
 CHAPTER VIII.

THE ART OF SWIMMING.

Every boy and girl should learn to swim. Instances are likely to arise,
where a knowledge of the art will not only enable you to save your
own life, but that of some dear friend.

When ready to take your first lesson in swimming, plunge into the
water until the head and body are cooled. Then, standing where the
water reaches your waist, lie down gently on your face, head erect
as if walking, with the mouth just above the surface. Lift your feet
from the bottom and strike them out in imitation of a frog. At the
same instant or a second later, throw your arms, palms outward,
from the front of your breast, drawing them in and striking out as
before.
You will fail a good many times before you learn to swim, but do not
give up. You will perhaps swallow some water, and in spite of all you
can do, your head will drop more than once under the surface; but,
if you will keep trying, you will soon find yourself able to make two,
three or more strokes, before you sink. A little practice will complete
your mastery of the art.

It is well to use helps at the beginning. A friend may hold up your

chin, or a light float may be fastened behind your shoulders. The
body of a person is very little heavier than water, and a slight
exertion, rightly directed, will keep it afloat for hours.
 FLOATING.
The most important step, after learning to swim, is to learn how to
float. A skillful swimmer may find himself overtaken by cramp while
in deep water. He can turn upon his back and float until he recovers
or help reaches him. In case of shipwreck, or where a person is
forced to stay a long time in water, he can rest by floating.
Taking your position in water, no higher than your breast nor
shallower than your waist, you lie very gently on your back, with
your chest elevated, your hands on your stomach and your feet
extended in a straight line, close to the surface. If you wish to swim
on your back, you have only to draw up your legs and strike out as
when swimming in the natural position. It is a poor method,
however, as you cannot see in what direction you are going, and will
soon exhaust your strength.
After learning to swim, there are many fanciful movements which
can be easily learned. They have no special value, but afford
amusement to those who look on or engage in them.
You cannot be too careful while learning to swim. Boys are apt to be
venturesome and think their parents are too timid on their account.
You should make it a rule never to go into water beyond your depth
until you can swim very well. If this rule should be followed the
number of deaths from drowning would be greatly lessened.

Why should every boy and girl learn to swim?

Give directions for the first lesson in swimming.
What is sure to follow?
What helps may be used at the beginning?
Show the advantage of knowing how to float in the water.
Show how a person may float.
What is said of fanciful movements in the water?
What care should boys exercise?
 CHAPTER IX.

HOW TO TREAT DROWNED PERSONS.

Many persons are drowned every month, and almost every day.
Hundreds doubtless could be saved by a knowledge of the art of
swimming, while others could have been revived, had the proper
means been used.
When any one believes he is drowning, he becomes frantic and his
fierce struggles only hasten his death. If a friend swims to his
rescue, there is danger that he will throw his arms around his
rescuer and cause both to drown.
 GOING TO THE RESCUE.

If the person in danger will keep still, when his friend seizes his hair
or arm, he can readily be taken ashore. If a swimmer finds his
sinking friend frantic, it may be necessary to strike him a violent
blow between the eyes so as to stun him for a minute or two.
A drowning person generally rises twice before sinking the last time.
Those who have been unconscious ten, fifteen, twenty minutes and
sometimes longer, have been resuscitated or brought back to life.
What is done, therefore, must be done without delay. Should you be
present when a drowned person is taken from the water, you ought
to know exactly what to do.
If any one can be spared to go for the doctor, let him run with all
speed. The instant the body is brought to land, turn it upon the face,
with a hard roll of clothing under the pit of the stomach. This roll
can be readily made from your own clothing or that of others if
present. Put one wrist of the patient under his forehead so as to
keep his mouth off the ground.

Then, with your hands well spread upon the patient's back, above
the roll of clothing, press down with the whole weight of your body,
pushing forward at the same time. Repeat this two or three times,
with quickness and vigor. The object of the movement is to force the
water from the lungs, and it must occupy very little time, for there is
none to throw away.
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