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David Flatman, a publishing executive, sacked at the age of 40 with six months redundancy pay, opened a very small bookshop in Edinburgh in February 1981. In November that same year, he opened his first Bargain Bookshop on the city''s famous Princes Street. He now owns a small chain of 17 Bargain Bookshops in Scotland and in England, while a franchisee has another six in Ireland. He has also diversified into book wholesaling. Today he manages a business (David Flatman Limited) with total sales of £10 million. The case illustrates that entrepreneurship is a process. It highlights the importance of learning by experience, adapting and refining a successful marketing strategy, the need to manage cash flow and, developing a planning and control system which motivates employees. The need for the entrepreneur to make a decision in respect of his own role in the company and to build a management team are briefly alluded to. This case contains colour exhibits.