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New Venture Creation

New Venture Creation
An Innovator's Guide to Entrepreneurship

Second Edition


January 2013 | 440 pages | SAGE Publications, Inc

Structured around the idea that innovation is at the core of successful entrepreneurship, this insightful guide by Meyer and Crane establishes innovation as a necessary first step before writing a business plan or developing a financial model. With a focus on pragmatic methods for gaining industry and customer insight and translating this insight into innovative product and service solutions, Meyer and Crane help students design robust business models, financial projections, business plans, and investor presentations. New Venture Creation is devoted to helping students develop compelling business ideas. This is based not only on the authors’ well-known research in product and service innovation, but also on their extensive experience as successful entrepreneurs and investors.

In the updated Second Edition, part I guides students through six elements that comprise a clearly defined and focused venture: defining your target industry; defining your target customers; defining the needs and wants of those customers; defining winning product and service solutions; carefully designing a strong business model; determining competitive positioning, and then testing the entire concept against a small population of target customers—all before writing the plan. Think, design, test, and learn are the guiding principles. Part II then focuses on different types of investors and the process for raising capital, creating realistic financial projections, writing a concise but powerful business plan, organizing the venture team, and creating a compelling pitch that speaks to the needs and concerns of investors. The book also includes a number of independent case studies that focus on product, service, and business model innovation—all from recent ventures by students as well as recent college or master’s level graduates.

1. Defining Your Industry Focus and the Type of Business You Want to Start
2. Defining the Target Customer: Users and Buyers
3. Defining the Needs of Target Customers: Getting Into Their Hearts and Mind
4. Defining Solutions for Customers: Developing a Product Line and Services Strategy
5. Defining the Business Model for a Venture
6. Positioning and Branding a Venture in the Marketplace
7. A Reality Check on the Venture Concept and the Business Model
8. Financial Sources for Startups and Corporate Ventures
9. Projecting the Financial Performance and Requirements for the Venture
10. Organizing the Venture Team
11. Writing the Business Plan!
12. Making the Pitch

Just to be recommended!

Dr Katharina Fellnhofer
Entrepreneurship & Innovation, New Design University
July 6, 2015

This textbook contains a number of useful excercises (some of them can be mid-term assignments), however it does not have relatively short case studies (to be used in classroom) that illustrate individual topics. At the end of the text there is a number of bigger case studies, but these can be solved by students once the whole material is discussed. I would need more ideas on tasks that activate students in the classroom.

Dr Maciej Koczerga
Marketing Strategy, Uniwersytet Ekonomiczny w Poznaniu
May 31, 2015

Please make test bank mac friendly

Dr Carlos J Alsua
McGuire Center for Entrepreneurship, University Of Arizona
November 25, 2015

This is an invaluable text and a must read for all students.

Mr Paul Matthews
Business Administration , University College Birmingham
June 12, 2014


I have adopted and required Introduction to leadership by Northouse for ALL 5 of my courses for FALL 2013 and plan to do the same for ALL 7 of my courses in SPRING 2014. I trust that I am your leading professor for using this text. It is outstanding. Your courage to publish it is appreciated.

Also, I have adopted Introduction to Intercultural Communication ALL 3 of my Intercultural Communication courses this academic year.

I teach business (management & finance), philosophy, communication, and psychology at Foothill College, Evergreen Valley College and the University of Phoenix. I am in search for a philosophy text for one of my Introduction to Philosophy courses at EVC in SPRING 2014.

I am indeed a dedicated SAGE instructor!

Thank you,

prof. douglas threet

Dr Douglas Threet
Manegment Communication, Evergreen Valley College
October 26, 2013
Key features


  • Easy-to-follow, well organized format offers improved readability, shorter chapters, and just the right number of relevant examples to make teaching and learning easier and more effective.
  • Key chapters on business model design and new product strategy (chapters 4 and 5, respectively) have been re-sequenced to ensure a logical presentation of foundational concepts that build upon one another.
  • An entrepreneurial characteristics self-assessment test (LOT-R Test) has been added as a measurement tool, along with new figures and current information.
  • Engaging examples of industry analysis and extensive use of industry terms throughout reinforce consistent use of standard, must-know elements and concepts.
  • Extensive coverage and discussion of contemporary topics such as intellectual property; channel options as part of business model design, and lean innovation/prototyping.
  • Expanded discussion of go-to-market strategies, including functional, emotional, and social branding, as well as multi-channel management.
  • New and updated cases and exercises bring concepts to life and help build applied skills.
  • The password-protected Instructor Teaching Site includes new teaching cases and videos, including an outdoor advertising venture and a home health care monitoring venture.
  • The open-access Student Study Site features new cases.



  • Focuses on ventures requiring equity financing for start-up and growth.
  • Suitable for corporate entrepreneurs seeking to create new businesses within their corporations.
  • Breaks down the process of new venture creation into the key steps necessary for success.
  • Shows that successful ventures are grounded in market insight, tested with real customers, and only then developed into business plans with appropriate financials.
  • Includes real-life cases from a variety of industries: With broad coverage in technology and in service and retail sectors, and with examples from North America and Europe, the chosen cases will capture students' attention and stimulate class discussion.
  • Provides templates to reinforce the book's systematic methodology: Providing clear deliverables, each chapter ends with Reader Exercises that include templates that students apply to their individual venture concepts.
  • Includes discussion of corporate ventures, as well as start-ups: Broadening the appeal of the book, this material will be useful to MBA students working in mature companies who want to apply entrepreneurial concepts to their own careers.
  • Offers robust pedagogical features:
    • Learning Objectives help students navigate chapter material
    • Spotlight on Innovation boxes highlight engaging examples of successful entrepreneurs
    • Exercises allow students the opportunity to apply chapter material
    • Tips give students practical advice for succeeding in today's marketplace
    • Numerous examples, tables, and figures

Sample Materials & Chapters

Table of Contents

Chapter 1

Chapter 4

For instructors

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