Book Review

Financing & Building an E-Commerce Venture

By Marc Kramer

Many books deal with how to write a business plan or build a successful management team or how to raise venture capital. But Financing & Building an E-Commerce Venture takes the reader through the entire gamut of launching an e-business.

In a clear, accessible style, Kramer deals with critical topics, such as:

• Selecting the right opportunities

• Developing a business plan that attracts the attention of venture capitalists

• Presenting your business when meeting venture capitalists

• Addressing the types of questions a VC will ask

• Conceiving an operating and sales/marketing plans that help you obtain venture capital

• Choosing employees who will make your dream a reality

• Picking advisors and board members to grow your company

• Identifying the best VCs for your business

• Negotiating with VCs

Kramer, the former Inc. Magazine's Entrepreneur of the Year Award,  contends that following the steps in his book can enhance an entrepreneurs' chances of raising capital and eventually taking a company public or selling to another public company.

He points out that one million companies are selling products over the Internet. However, he writes that the Internet is still in its infancy and there are still countless opportunities to build successful e-businesses. The  book walks you through the markets that are still fertile.

Every potential e-commerce entrepreneur should read the 10 obstacles to building a successful Internet business. In 14 chapters Kramer takes the reader through the necessary steps to finding success over the Internet, touching on important topics - Writing a Business Plan, How to Write a Marketing and Sales Plan, How to Pick Quality Service Providers, Presenting to Investors, Private Investor Capital, Closing the Deal.

Kramer also provides helpful Angel and VC Web sites that entrepreneurs can access to begin their search for the funding to nurture their e-commerce ventures.

He notes that developing a business plan is absolutely essential if you're trying to raise money. Kramer thinks you need a business plan to see what flaws your business model may have and to communicate a clear vision and direction for employees, board members and potential investors.

Financing and Building an E-Commerce Venture blends knowledge of business with an insight into the emerging dot.com that requires a new understanding of business principles and the behavior of Internet shoppers.

By Frank Szivos

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