The Knot
The Knot
Entrepreneurial Finance
Wouter Buijze: 6172466
Tijmend de Vries: 5947472
Gijs Derkzen:
Teacher: Vladimir Vladimirov
Critical success factors
According to Sahlman, the success of entrepreneurial ventures, such as The Knot, is dependent on four critical success factors, namely the people, the opportunity, the deal and the context. Each of these factors is dynamic and the entrepreneur must constantly reevaluate and adjust the four factors to create value.
People
The category people include the key players of the entrepreneurial venture. Within this category, the strengths and weaknesses and the experience of the people involved is critical. The entrepreneur has to determine if something is missing in the team, thus if people should be added or replaced. The Knot’s management team consists of four ex New York University’s Film School students. All of them are experienced entrepreneurs. First, Liu and Roney are co-founders of the CD-ROM development company RunTime Inc. Pervious, Liu was an experienced manager and Roney spent six years as creative director and editor. Second, Wolfson and Fassino are founders of the Digital Media Division for Margeotes Fertitta + Partners. Before, Wolfson was founder of a creative production company and Fassino has experience in the advertising industry. The two different companies successfully collaborated at the Sotheby’s project. The four partners emphasize the potential of their collective experience and know-how, including management, advertising, the creative industry and production. They found Element Studios in 1995 to capitalize their abilities.
After the acquisition of Bridal Search, Russ and Becky Casenhiser were added to the management team. Both of them were successful entrepreneurs as well. Russ developed the industry’s largest, searchable database and Becky procured and maintained relationships with all the manufacturers. Especially their experience in retail was valuable when the business
Entrepreneurial Finance
Wouter Buijze: 6172466
Tijmend de Vries: 5947472
Gijs Derkzen:
Teacher: Vladimir Vladimirov
Critical success factors
According to Sahlman, the success of entrepreneurial ventures, such as The Knot, is dependent on four critical success factors, namely the people, the opportunity, the deal and the context. Each of these factors is dynamic and the entrepreneur must constantly reevaluate and adjust the four factors to create value.
People
The category people include the key players of the entrepreneurial venture. Within this category, the strengths and weaknesses and the experience of the people involved is critical. The entrepreneur has to determine if something is missing in the team, thus if people should be added or replaced. The Knot’s management team consists of four ex New York University’s Film School students. All of them are experienced entrepreneurs. First, Liu and Roney are co-founders of the CD-ROM development company RunTime Inc. Pervious, Liu was an experienced manager and Roney spent six years as creative director and editor. Second, Wolfson and Fassino are founders of the Digital Media Division for Margeotes Fertitta + Partners. Before, Wolfson was founder of a creative production company and Fassino has experience in the advertising industry. The two different companies successfully collaborated at the Sotheby’s project. The four partners emphasize the potential of their collective experience and know-how, including management, advertising, the creative industry and production. They found Element Studios in 1995 to capitalize their abilities.
After the acquisition of Bridal Search, Russ and Becky Casenhiser were added to the management team. Both of them were successful entrepreneurs as well. Russ developed the industry’s largest, searchable database and Becky procured and maintained relationships with all the manufacturers. Especially their experience in retail was valuable when the business
References: (1) http://simple-answers.com/differences-between-angel-investors-and-venture-capital.html (2) http://www.forbes.com/2009/09/23/small-business-valuation-entrepreneurs-finance-zwilling.html