1、Volume VII67$57,1*#$#+,*+07(&+#&203$1byMichael L.BairdThe Institute of Electrical and Electronics Engineers,Inc.New York,New YorkNetworking the WorldTMIEEE Engineers Guide To Business SeriesEditor:Barbara StolerTypographer:Jill R.BagleyCopyright 1995 byTHE INSTITUTE OF ELECTRICAL AND ELECTRONICSENGI
2、NEERS,INC.345 East 47th Street,New York,NY 10017-2394All rights reserved.No part of this book may be reproduced,in any form nor may it be stored ina retrieval system or transmitted in any form without written permission from the publisher.Printed in the United States of AmericaC O N T E N T SForewor
3、dPrefaceAcknowledgementsIntroductionPART ONETHE GENESISChapter 1Start-up Opportunities for High-Tech EntrepreneursChapter 2Technology-Oriented Professional as Company FounderChapter 3Life in Your Start-UpPART TWOGETTING DOWN TO BUSINESSChapter 4Market-Versus Technology-Focused Approach toGrowing a B
4、usinessChapter 5When High-Growth Business is Desirable and NecessaryChapter 6Start-Up Financing Terminology and StagesPART THREE DUE DILIGENCEChapter 7Elements of a Successful Start-UpChapter 8Create Your Management Team and Board of DirectorsChapter 9Evaluate Markets and Target CustomersChapter 10D
5、efine Your Product or ServiceChapter 11Write Your Business PlanChapter 12Funding IssuesSIDEBARSResources Available to Start-Up EntrepreneursSymantec Corporation:Responding to a Changing NeedFinancials for EngineersA Crash CourseTrials and Tribulations in the Financing of One Start-Up CompanyBusiness
6、 Plan Writing Aids and Financial Planning AidsOne Venture Capitalists Perspective on Plan EmphasisSoftware SuccessWho Gets Funding How and Where)25(:25Entrepreneurship is the call of the l990s.This is particularly the case in high technology,whereour society continues to place more feverish demands
7、on American ingenuity for improvementand innovation in the products and services that surround our lives.Everyone looks to create thefastest chip,the lightest laptop,and the most powerful software.There is no limit to thetechnological advances realized with every new product introduced,which is exac
8、tly why therehas never been a better time to consider an entrepreneurial venture.It is hard to escape the image of entrepreneurial success in todays media-consciousenvironment.Multi-billionaire founder Bill Gates of Microsoft has appeared repeatedly on thecovers of business magazines.Entrepreneur Ro
9、ss Perot reaches out to be the president of theUnited States.Successful entrepreneurs are ubiquitous at a time when loyalty to Fortune 500companies continues to diminish amid the trend of layoffs and reorganization.When youconsider that the overwhelming majority of new jobs created this decade will
10、come from start-upcompanies,a high-tech business venture seems a reasonable,if not downright admirable,proposition.As the president and chief executive officer of Silicon Valley Bank,I have met with thousands ofambitious entrepreneurs from every walk of life.I am very proud to have provided guidance
11、 andassistance to many of these individuals,many of whose companies are now quite successful.What do these successful individuals all have in common with each other?You will not find it surprising when I tell you that these individuals all share the same trait:motivation.Not motivation for wealth,mo
12、ney,or power,though.Rather,the more successfulpeople are those who desperately want and seek out autonomy and challenge.They want touse their drive,skills,and hard work to turn an idea or a dream into a company.Start-upentrepreneurs have a special passion for life and view each new workday as a new
13、challenge.Of course,I know my generalities cannot assimilate life in a high-tech start-up,but I believeStarting a High-Tech Company delivers the important information and sage advice those ofyou considering a high-tech venture need in order to make informed decisions on how toproceed.Many entreprene
14、urs who want to start a venture do not know where to begin or what to expect.In this book,classic formulas for success are laid out in no-nonsense terms.Life in a start-up isdescribed vividly,and real-world anecdotes detail both failures and successes.Valuable advice ispresented for creating wealth
15、using founders stock and stock options,which are topics notalways familiar to technically oriented entrepreneurs.While the book specifically addresses thehigh-tech entrepreneur,those considering employment at a start-up will find it helpful inunderstanding the dynamics involved in working in that en
16、vironment.In the investment community,we see higher quality start-ups today than in the 1980s.Competition for venture funding is intense and global.Successful companies plan from day oneto attract syndicates of investors who will carry the company from the concept stage through aninitial public offering or acquisition by a larger,usually public,company.Many start-upsestablish early strategic partnering relationships with customers,suppliers,and governmentsworldwide.Those companies that are well