A guide to the financial aspects of entrepreneurship, both personal and corporate.
In this debut business book, Franklin draws heavily on interviews with veteran entrepreneurs willing to share the lessons they’ve learned. She also makes use of her own accounting and financial planning background to explore the areas entrepreneurs need to consider as they attempt to expand their businesses. The book breaks entrepreneurship into a three-phase cycle, from the initial idea to realizing the dream. Much of Franklin’s advice is focused on the “liquidity event,” the merger, acquisition or IPO that generally means a significant windfall for the founder. The book guides readers through the financial structures of such events, explaining both the contractual restrictions, e.g., stock vesting, as well as the tax implications of the large payouts. The extended sidebars and the main narrative incorporate advice from experienced entrepreneurs, some of whom have founded and sold multiple companies, as they share both their mistakes and their successes. The book’s audience is a relatively narrow one: Franklin restricts her discussion to technology companies, nearly all in the Silicon Valley area, and there are frequent references to entrepreneurs’ tendencies to work long days for little initial pay, driven by passion and/or the expectation of an eventual financial return. Readers who don’t fall into those categories might see limited value in the book. But those in the early stages of their own startups will find the book a useful tool, with its discussion of everything from key points to cover in negotiations with venture capitalists to reasons why founders should diversify their holdings as soon as they are able to begin selling the stock they hold in their companies.
A comprehensive handbook to the financial decisions that founders of technology companies must make, strengthened by a knowledgeable author and extensive expert interviews.
Privately published by Strunk of Cornell in 1918 and revised by his student E. B. White in 1959, that "little book" is back again with more White updatings.
Stricter than, say, Bergen Evans or W3 ("disinterested" means impartial — period), Strunk is in the last analysis (whoops — "A bankrupt expression") a unique guide (which means "without like or equal").
Noted jazz and pop record producer Thiele offers a chatty autobiography. Aided by record-business colleague Golden, Thiele traces his career from his start as a ``pubescent, novice jazz record producer'' in the 1940s through the '50s, when he headed Coral, Dot, and Roulette Records, and the '60s, when he worked for ABC and ran the famous Impulse! jazz label. At Coral, Thiele championed the work of ``hillbilly'' singer Buddy Holly, although the only sessions he produced with Holly were marred by saccharine strings. The producer specialized in more mainstream popsters like the irrepressibly perky Teresa Brewer (who later became his fourth wife) and the bubble-machine muzak-meister Lawrence Welk. At Dot, Thiele was instrumental in recording Jack Kerouac's famous beat- generation ramblings to jazz accompaniment (recordings that Dot's president found ``pornographic''), while also overseeing a steady stream of pop hits. He then moved to the Mafia-controlled Roulette label, where he observed the ``silk-suited, pinky-ringed'' entourage who frequented the label's offices. Incredibly, however, Thiele remembers the famously hard-nosed Morris Levy, who ran the label and was eventually convicted of extortion, as ``one of the kindest, most warm-hearted, and classiest music men I have ever known.'' At ABC/Impulse!, Thiele oversaw the classic recordings of John Coltrane, although he is the first to admit that Coltrane essentially produced his own sessions. Like many producers of the day, Thiele participated in the ownership of publishing rights to some of the songs he recorded; he makes no apology for this practice, which he calls ``entirely appropriate and without any ethical conflicts.'' A pleasant, if not exactly riveting, memoir that will be of most interest to those with a thirst for cocktail-hour stories of the record biz. (25 halftones, not seen)