Program for Demonstrations and Videos

Chapter 1

What is it like to be an entrepreneur? Students should view the following short videos. You may want to discuss in class whether you identify with these three entrepreneurs and if you have the attributes to take you along this road.

The first is Mark Turrell, CEO of Imaginatik Inc, a software company in Boston with selling products to help companies manage innovation. (Visit the web-site at Mark talks about why he became an entrepreneur, how hard it was at the start but the satisfaction of seeing his company grow.

See Video 1.1

The second video shows Neil DeAngelo, co-founder with his brother of DBI Services Inc. (See Neil’s company is discussed in the book. He describes how hard he had to work and how persistence is needed to get over the inevitable set-backs in a growing company. Neil and his brother have grown the company without taking in any outside investors – bootstrapping the company the whole way.

See Video 1.2

Finally Ethan Wendle, co-founder of DiamondBack Accessories ( talks about how an entrepreneur has to handle many tasks simultaneously as there is no-one else on hand to take care of the everyday changing needs that arise as the company grows.

See Video 1.3

Chapter 2

Ed Marflak, CEO of Schoolwires ( talks about how he first uncovered the idea for his company. As the company grows he then finds new ideas from his customers.

See Videos 2.1 and 2.2

Chapter 3

Bill Frezza, partner in VC firm Adams Capital Management, ( talks about the “sins of optimism” that entrepreneurs often show when they do not really understand their customers. Bill also introduces the topic of whether the founders are necessarily the persons to take the business “all the way.”

See Video 3.1

Mark Turrell, CEO of Imaginatik, Inc., a software company in Boston selling products to help companies manage innovation( discusses how entrepreneurs need to think more broadly about competitors.

See Video 3.2

Chapter 4

No videos for this chapter.

Chapter 5

Bill Frezza, a partner in VC firm Adams Capital Management, ( gives an overview of the different funding options for start-up companies. This video sets the scene for both chapters 5 and 6 in the book.

See Video 5.1

Maria Thompson, CEO of T/J Technologies, a high-tech company in Michigan ( discusses a number of bootstrapping techniques, including the use of government grants to help grow her company.

See Video 5.2

Ethan Wendle, co-founder of DiamondBack Accessories in Pennsylvania ( describes how he has used “friends and family” to help together with funds from local banks, as well as tapping into local and state economic development money to grow his company.

See Video 5.3

Chapter 6

The following four video clips give one venture capitalists view of how entrepreneurs should find, explore and work with venture capitalists. Bill Frezza, partner in VC firm Adams Capital Management, ( also discusses the structure of VC funds and how early stage companies are valued.

See Videos 6.1 through 6.4

Chapter 7

The four video clips associated with this chapter explore intellectual property from different viewpoints. The first two clips are from Professor Dan Cahoy at PennState who gives an attorney’s view of IP law. Heidi Jacobus, Chairperson of Cybernet Systene Corporation ( describes how her company looks for patent attorneys. Cybernet is a well-established entrepreneurial company and can afford to spend significant funds on protecting its inventions. Finally, Ethan Wendle, co-founder of DiamondBack Accessories ( explains how a very early stage company can use the provisional patent system for protection when funds are short. (Since the video was made, Ethan’s company has grown and their first full patent has been issued – see if you can find it at

See Videos 7.1 through 7.4

Chapter 8

The three video clips for this chapter expand on three of the cases outlined in the book, namely DBI, Greif Brothers, and Chemstation. These cases are for class discussion and are presented by one of the book authors, Professor Warren from PennState.

See Cases 8.1, 8.2, and 8.3

Video case history: Ultrafast

The following set of presentations by one of the authors, Professor Warren from PennState, form the basis of the case history and questions at the end of this chapter. Please view all the clips before attempting the case questions.

See Case Videos 8.1 through 8.10

Chapter 9

Listen to two entrepreneurs on how they manage their money. First Heidi Jacobus, Chairperson of Cybernet Systene Corporation ( tells how she bridges her payable and receivable accounts using bank credit. Neil DeAngelo, co-founder with his brother of DBI Services Inc. (See discusses the use of bank debt and personal funds to fund growth and the personal sacrifices that this brings. Finally Bill Frezza, partner in VC firm Adams Capital Management, ( explains how investors view an entrepreneur’s ability to manage cash.

See Videos 9.1, 9.2, and 9.3

Chapter 10

Watch two entrepreneurs coming to grips with their personal exit strategy. First Mark Turrell, CEO of Imaginatik Inc, talks generally about going public. Since we made this video he told us that this is now becoming a real option to explore as his company is growing rapidly. On the other hand, Neal DeAngelo, co-founder with his brother of DBI Services Inc. (See does not see a public offering as an option. However, he and his brother are thinking about succession planning, as well as an ESOP as personal vehicles to graciously exit the company. If either of the companies had accepted investments from angels of VC firms, they would be guided towards selling their company or going public.

See Videos 10.1 and 10.2

Chapter 11

Listen to a VC’s view of what he looks for in a business plan. Many of the comments made by Bill Frezza, partner in VC firm Adams Capital Management, ( apply equally well to most plans. Remember a plan is written for a specific target audience and is not a “general purpose” document.

See Video 11.1

Chapter 12

We have chosen to provide a lot of video material for this chapter. The first clip, from Bill Frezza at Adams Capital explains why it is important for you to understand your audience.

The rest of the video clips for this chapter are all based on one of the business plan examples provided for chapter 11, Railroad Innovation Technologies. Each clip has one of the authors, Professor Warren from PennState, providing some insight into the presentations followed by an actual presentation by one of his students, Ankit Patel. We have chosen a case which should be understandable by all of our readers as it is about one of our oldest inventions, railroads. We start with the elevator pitch, which has no visual aids. Then Ankit gives a full investor presentation which we have broken down into seven separate short sections, the introduction, the opportunity, the solution, execution, management team, financials and returns, and the summary. You will see some of the key visual aids blended into the presentation. The full presentation is also loaded onto this web-site.

See Videos 12.1 through 12.9