Master the complete life cycle of the firm with "Entrepreneurial Finance," 8th Edition, explaining the finance tools and techniques needed to start, build and harvest a successful venture. The clear, engaging style shows you how to secure financing, manage cash flows and strategically position your venture while addressing realities such as AI, remote work and global capital flows. Examples, exhibits and in-depth capstone cases strengthen your ability to evaluate opportunities, attract capital and manage growth. The new TermScout case, which follows an AI-powered contract review startup, joins Eco-Products, Inc. and Spatial Technology, Inc. to provide experience across different stages of the entrepreneurial life cycle. Coverage extends to sustainable sales growth, governance, ethical issues and personal financial strategies, preparing you to launch and finance ventures of your own.
Part I: THE ENTREPRENEURIAL ENVIRONMENT.
1. Introduction to Finance for Entrepreneurs.
2. Developing the Business Idea.
Part II: ORGANIZING AND OPERATING THE VENTURE.
3. Organizing and Financing a New Venture.
4. Preparing and Using Financial Statements.
5. Evaluating Operating and Financial Performance.
Part III: PLANNING FOR THE FUTURE.
6. Managing Cash Flow.
7. Types and Costs of Financial Capital.
8. Securities Law Considerations When Obtaining Venture Financing.
Part IV: CREATING AND RECOGNIZING VENTURE VALUE.
9. Projecting Financial Statements.
10. Valuing Early-Stage Ventures.
11. Venture Capital Valuation Methods.
Part V: STRUCTURING FINANCING FOR THE GROWING VENTURE.
12. Professional Venture Capital.
13. Other Financing Alternatives.
14. Security Structures and Determining Enterprise Values.
Part VI: EXIT AND TURNAROUND STRATEGIES.
15. Harvesting the Business Venture Investment.
16. Financially Troubled Ventures: Turnaround Opportunities?
Part VII: CAPSTONE CASES.
Case 1. TermScout.
Case 2. Eco-Products, Inc.
Case 3. Spatial Technology, Inc.
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J. Chris Leach
J. Chris Leach is the W.W. Reynolds Capital Markets Chair and the former Robert H. and Beverly A. Deming Professor in Entrepreneurship at the Leeds School of Business within University of Colorado at Boulder. Dr. Leach received his Ph.D. in finance from Cornell University and began his teaching career at the Wharton School. He has served as a visiting professor at Carnegie Mellon, the Indian School of Business and the Stockholm Institute for Financial Research (at the Stockholm School of Economics). His teaching experience includes courses for undergraduates, M.B.A. and Ph.D. students, and executives. A former Graduate Professor of the Year, Dr. Leach has received multiple awards for M.B.A. teaching excellence. Dr. Leach's research on a variety of topics has been published in The Review of Financial Studies; Journal of Financial and Quantitative Analysis; Journal of Business; Journal of Accounting; Auditing and Finance; Review of Economic Dynamics and Journal of Money, Credit and Banking. His business background includes various startups dating back to the 1970s. He has also consulted in areas of business and strategic planning advising, valuation and deal structure for early-stage and small businesses. He is a faculty sponsor for M.B.A. teams that have qualified for twelve international championships for the Venture Capital Investment Competition, and he is a faculty advisor for the Deming Center Venture Fund.
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Ronald W. Melicher
Ronald W. Melicher is Professor Emeritus of Finance in the Leeds School of Business at the University of Colorado at Boulder. He earned his undergraduate, M.B.A. and Ph.D. from Washington University in St. Louis, Missouri. While at the University of Colorado, he received several distinguished teaching awards and was designated as a university-wide President's Teaching Scholar. A former president of the Financial Management Association, Dr. Melicher has taught entrepreneurial finance at M.B.A. and undergraduate levels, corporate finance and financial strategy in M.B.A. and Executive M.B.A. programs and investment banking to undergraduate students. While on sabbatical leave from the University of Colorado, he taught at the INSEAD Graduate School of Business in Fontainebleau, France, and at the University of Zurich in Switzerland. He has delivered numerous university-offered executive education non-credit courses and has taught in-house finance education materials for IBM and other firms. Dr. Melicher has given expert witness testimony on cost of capital in regulatory proceedings and provided consulting expertise in the areas of financial management and firm valuation. Focusing on mergers and acquisitions, corporate restructurings and the financing and valuation of early-stage firms, his research has been published in such major journals as the Journal of Finance, Journal of Financial and Quantitative Analysis and Financial Management. In addition, he is the co-author of INTRODUCTION TO FINANCE: MARKETS, INVESTMENTS, AND FINANCIAL MANAGEMENT.
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Shaun Davies
Shaun William Davies is associate professor of finance and the Quinby Family Endowed Faculty Fellow at the Leeds School of Business, University of Colorado Boulder. He also serves as faculty director of the Burridge Center for Finance. He earned his Ph.D. in finance and M.A. in economics at UCLA and holds B.S. and B.A. degrees in applied mathematics and economics from the University of Colorado Boulder. He is also a Chartered Financial Analyst (CFA) Charterholder.
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AI & Predictive Systems: Chapter 3 and appendix show real-world AI and machine learning uses for entrepreneurs, sparking tech-driven finance discussions in class.
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New Capstone Case: TermScout: This modern, data-driven startup is a comprehensive case, connecting valuation, financing and negotiation in one cohesive study.
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New cases highlight financing, supply chains, digital-first strategies and remote work to help students understand current entrepreneurial challenges and opportunities.
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Chapter 15 now covers wealth diversification and post-exit financial planning, helping connect entrepreneurial finance with personal financial literacy and long-term perspective.
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Updated Laws and Regulations: The text includes recent SEC changes, SAFE and convertible note trends and gig-economy employment law.
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Chapter 15 expands beyond IPOs to include SPACs and major M&A, giving students a real-world view of how entrepreneurs gain liquidity in today’s fast-paced market.
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Mini-Cases & Exercises: Updated scenarios, data-driven tasks and italicized guidance help reinforce learning and let students assess their understanding.
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From the Headlines features: Contemporary mini-articles spotlight new ventures and real entrepreneurial finance decisions.
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