Fallacies Versus Realities in Financial Planning and Management Among Entrepreneurs: Lessons from the Trenches

Authors

  • Paul Dunn University of Louisiana at Monroe
  • Chyi-lyi (Kathleen) Liang University of Vermont

Abstract

This paper summarizes fallacious thinking about financial planning and management among entrepreneurs and small business owners. This thinking often continues from start-up through initial liquidity and beyond and creates problems for the venture.  These problems can usually be avoided with an  understanding of  the realities associated with fallacious thinking and following  some fairly simple  "rules" enunciated by the authors.

 

References

Adelman, P. J., & Marks, A.M. (2000). Entrepreneurial finance: Finance for small business, (2"' Ed). Upper Saddle River, NJ: Prentice Hall.

Brigham, E. F., & Houston, J. F. (1999). Fundamentals of financial management. Fon Wonh: The Dryden Press.

Emery, G. W. (1998). Corporate finance principles and practice. Reading, Massachusetts: Addison-Wesley.

Keown, A. P., Manin, J. D., Petty, J. W., & Scott, Jr., D. F. (2002). Financial management: Principles and applications, (9th Ed). Upper Saddle River, NJ: Prentice Hall.

Kuratko, D. F., & Hodgetts, R. M. ( 1 995). Entrepreneurship, (3"' Ed). Orlando, Florida: The Dryden Press.

Lewellen, W. G., Halloran, J. A., & Lanser, H. P. (2000). Financial management. USA: South-Western College Publishing.

Downloads

Published

2002-06-23

Issue

Vol. 13 No. 1 (2002)

Section

Small Business Brief

License

The Journal of Small Business Strategy (the “Publisher”) and the Author(s) agree as follows:
 
1.Author(s) hereby grant to Publisher all right, title, and interest in and to the Work, including copyright to all means of expression by any method now known or hereafter developed, including electronic format. If Publisher does not publish the Work within two (2) years of the Effective Date, copyright shall revert back to the Author. Publisher agrees to always credit Author(s) as the author(s) of the Work.
 
2.Publisher hereby grants Author a royalty-free, limited license for the following purposes, provided the Work is always identified as having first been published by Publisher.
    •The right to make and distribute copies of all or part of the Work for use in teaching;
    •The right to use all or part of the material contained in the Work in a book by the Author(s), or in a collection of the Author(s)’s work;
    •The right to use and distribute the Work internally at the Author(s)’s place of employment, and for promotion and any other non-commercial purposes;
    •The right to use figures and tables from the Work for any purpose;
    •The right to make presentations of material from the Work;
    •The right to use and distribute the Work on the Author(s)’s Web site and on the Author(s)’s university’s institute repository;
Such license shall be effective when the Work is first published in the Journal of Small Business Strategy.
 
3.The Author(s) represents and warrants that the Work: (a) is the Author(s)’s original work and that Author(s) has full power to enter into this agreement; (b) does not infringe the copyright or property right of another; (c) contains no materials which is obscene, libelous, defamatory or violates another’s civil right, right of privacy, or is otherwise unlawful; and (d) has not been previously published, in whole or in part. Author(s) shall indemnify and hold Publisher harmless against loss or expenses arising from breach of any such warranties.

How to Cite

Fallacies Versus Realities in Financial Planning and Management Among Entrepreneurs: Lessons from the Trenches. (2002). Journal of Small Business Strategy (archive Only), 13(1), 95-104. https://libjournals.mtsu.edu/index.php/jsbs/article/view/497