This accessible, reader-friendly text guides students through a complete "life cycle of the firm" as it introduces the theories, knowledge and corporate finance tools and techniques an entrepreneur needs to start, build and eventually harvest a successful venture. With a strong emphasis on sound financial management practices, the text explores important issues entrepreneurs face, including how and where to obtain financing, using business cash flow models and positioning the early-stage company strategically. Students will also gain an understanding of how to interact effectively with financial institutions and regulatory agencies that can affect venture growth and enable liquidity for investors. Drawing on real-life entrepreneurial ventures and common financial scenarios, the authors include an in-depth capstone case, numerous mini-cases and abundant examples to engage students' interest and vividly illustrate key concepts such as venture capital funds, institutional investors, strategic alliances, the role of business angels, licensing agreements and exit strategies. Trust ENTREPRENEURIAL FINANCE, Fifth Edition, to provide the skills and confidence your students need for entrepreneurial success in today's markets.