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Entrepreneurship
The Practice and Mindset

Experience with SAGE edge


January 2017 | 560 pages | SAGE Publications, Inc

From Heidi Neck, one of the most influential thinkers in entrepreneurship education today, Chris Neck, an award-winning professor, and Emma Murray, business consultant and author, comes this ground-breaking new text.

 

Entrepreneurship: The Practice and Mindset catapults students beyond the classroom by helping them develop an entrepreneurial mindset so they can create opportunities and take action in uncertain environments. Based on the world-renowned Babson Entrepreneurship program, this new text emphasizes practice and learning through action. Students learn entrepreneurship by taking small actions and interacting with stakeholders in order to get feedback, experiment, and move ideas forward.  Students walk away from this text with the entrepreneurial mindset, skillset, and toolset that can be applied to startups as well as organizations of all kinds. Whether your students have backgrounds in business, liberal arts, engineering, or the sciences, this text will take them on a transformative journey.  

 

Interactive eBook also available—Save when you bundle it with the print version!

 

Save when you bundle the print version with the interactive eBook version. Use bundle ISBN: 978-1-5063-7615-8. 
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Thank you to our reviewers and contributors for all their hard work on this book.

 

 
Preface
 
Acknowledgements
 
About the Authors
 
An Open Letter to All Students
 
PART I. INTRODUCING THE ENTREPRENEURIAL LIFESTYLE
 
CHAPTER 1. ENTREPRENEURSHIP: A GLOBAL SOCIAL MOVEMENT
Entrepreneurship Requires Action and Practice  
Entrepreneurship May Be Different From What You Think  
A Brief History of the Evolution of Entrepreneurship in the United States  
Types Of Entrepreneurship  
The World Is Participating in Entrepreneurship  
How This Book Will Help You Practice Entrepreneurship  
 
CHAPTER 2. PRACTICING ENTREPRENEURSHIP
Two Main Perspectives on Entrepreneurship  
The Five Skills Most Important to The Practice of Entrepreneurship  
Entrepreneurship Is More a Method than a Process  
The Practice of Entrepreneurship: An Introduction  
The Concept of Deliberate Practice  
 
CHAPTER 3. DEVELOPING AN ENTREPRENEURIAL MINDSET
The Power of Mindset  
What Is Mindset?  
The Self-Leadership Habit  
The Creativity Habit  
The Improvisation Habit  
The Mindset as the Pathway to Action  
 
CHAPTER 4: SUPPORTING SOCIAL ENTREPRENEURSHIP
The Role of Social Entrepreneurship  
Social Entrepreneurship and Wicked Problems  
Types of Social Entrepreneurship  
Capital Markets for Social Entrepreneurs  
Social Entrepreneurs and Their Stakeholders  
Differences Between Social Entrepreneurship And Corporate Social Responsibility  
Social Entrepreneurship and Global Inclusion  
 
PART II . CREATING AND FINDING OPPORTUNITIES
 
CHAPTER 5. GENERATING NEW IDEAS
The Entrepreneurial Mindset and Opportunity Recognition  
Opportunities Start with Thousands of Ideas  
Two Pathways to Opportunity Identification  
Opportunities Through Active Search and Alertness  
From Idea Generation to Opportunity Recognition  
 
CHAPTER 6. USING DESIGN THINKING
What Is Design Thinking?  
Design Thinking as a Human-Centered Process  
Design Thinking Requires Empathy  
The Design-Thinking Process: Inspiration, Ideation, Implementation  
Pathways Toward Observation and Insights  
Interviewing as a Useful Technique for Identify Needs  
Variations of the Design-Thinking Process  
 
CHAPTER 7. TESTING AND EXPERIMENTING IN MARKETS
What Are Experiments?  
The Six Steps of Scientific Experimentation  
Hypotheses and Customer Identification  
Generating Data and the Rules of Experimentation  
Types of Experiments  
The Power of Storyboarding  
 
PART III . EVALUATING AND ACTING ON OPPORTUNITIES
 
CHAPTER 8. BUILDING BUSINESS MODELS
What Is a Business Model?  
The Four Parts of a Business Model  
The Customer Value Proposition (CVP)  
Different Types of CVPs and Customer Segments  
The Business Model Canvas (BMC)  
 
CHAPTER 9. PLANNING FOR ENTREPRENEURS
The Importance of Planning to Entrepreneurs  
The Trim Framework  
Plans Take Many Forms  
The Business Plan Debate  
Tips for Writing Business Plans  
 
CHAPTER 10. CREATING REVENUE MODELS
What Is a Revenue Model?  
Different Types of Revenue Models  
Generating Revenue From “Free”  
Revenue and Cost Drivers  
Pricing Strategies  
Calculating Prices  
 
CHAPTER 11. LEARNING FROM FAILURE
Failure and Entrepreneurship  
The Failure Spectrum  
Fear of Failure  
Learning From Failure  
Getting Gritty: Building a Tolerance for Failure  
 
PART IV. RESOURCING NEW OPPORTUNITIES
 
CHAPTER 12. BOOTSTRAPPING FOR RESOURCES
What Is Bootstrapping?  
Bootstrapping Strategies  
Crowdfunding Versus Crowdsourcing  
Crowdfunding Startups and Entrepreneurships  
The Four Contexts for Crowdfunding  
The Advantages of Crowdfunding  
A Quick Guide to Successful Crowdfunding  
 
CHAPTER 13. FINANCING FOR STARTUPS
What Is Equity Financing?  
The Basics Of Valuation  
Angel Investors  
Venture Capitalists (VCs)  
Due Diligence  
The Entrepreneur’s Dilemma  
 
APPENDIX A. FINANCIAL STATEMENTS AND PROJECTIONS FOR STARTUPS
Financial Projections for Startups  
Three Essential Financial Statements  
Linkages between the Three Financial Statements  
The Journey of Cash: The Cash Conversion Cycle  
Building Pro Forma Financial Statements  
Building Assumptions: Operating Policies and Other Key Assumptions  
 
CHAPTER 14. DEVELOPING NETWORKS
The Power of Networks  
The Value of Networks  
Building Networks  
Virtual Networking  
Networking to Build the Founding Team  
 
CHAPTER 15. NAVIGATING LEGAL AND IP ISSUES
Legal Considerations  
Types of Legal Structures  
Legal Mistakes Made by Startups  
Intellectual Property (IP)  
Global IP Theft  
Common IP Traps  
Hiring Employees  
 
CHAPTER 16. MARKETING AND PITCHING YOUR IDEA
The Role of Marketing and Pitching in Entrepreneurship  
The Basic Principles of Marketing  
Entrepreneurial Marketing  
Marketing Through Social Media  
Marketing Yourself  
The Art of Pitching  
 
APPENDIX B. The Pitch Deck
Overview of the Pitch Deck  
Pitch Deck Slides  
The Question and Answer Period  
 
Glossary
 
Notes
 
Name Index
 
Subject Index

Supplements

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    • Diagnostic chapter pre tests and post tests that identify opportunities for improvement, track student progress, and ensure mastery of key learning objectives
    • Test banks built on Bloom’s Taxonomy that provide a diverse range of test items with ExamView test generation
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  • SAGE Premium Video (available via the interactive eBook version, linked through SAGE coursepacks) that is assignable, tied to learning objectives, and curated exclusively for this text to bring concepts to life and appeal to different learning styles, featuring:
    • Corresponding multimedia assessment options that automatically feed to your gradebook
    • Comprehensive, downloadable, easy-to-use Media Guide in the Coursepack for every video resource, listing the chapter to which the video content is tied, matching learning objective(s), a helpful description of the video content, and assessment questions
    • Career insights from professionals in the field as well as news clips of current events
  • Additional video resources that bring concepts to life, are tied to learning objectives and make learning easier
  • Editable, chapter-specific PowerPoint® slides that offer flexibility when creating multimedia lectures so you don’t have to start from scratch but you can customize to your exact needs
  • Lecture notes that summarize key concepts on a chapter-by-chapter basis to help you with preparation for lectures and class discussions
  • Lively and stimulating Entrepreneurial Exercises written by Heidi Neck that help students develop the discovery, thinking, reasoning, and implementation skills necessary to thrive in highly uncertain environments
  • Additional ideas for class activities and projects to give you even more options for engaging students in your class.
  • Sample course syllabi with suggested models for structuring your course that give you options to customize your course in a way that is perfect for you
  • Teaching notes for the cases that include sample answers to case questions, as well as summaries and analyses
  • Sample answers to questions in the text that provide an essential reference
  • Sample pitch decks that provide suggested models to help students in developing pitch decks of their own
  • Excel spreadsheets that accompany the appendix on financials
  • Integrated links to the interactive eBook that make it easy for your students to maximize their study time with this “anywhere, anytime” mobile-friendly version of the text. It also offers access to more digital tools and resources, including SAGE Premium Video
  • All tables and figures from the textbook 
Student Study Site
SAGE EDGE FOR STUDENTS enhances learning in an easy-to-use environment that offers:
  • Mobile-friendly flashcards that strengthen understanding of key terms and concepts, and make it easy to maximize your study time, anywhere, anytime
  • Mobile-friendly practice quizzes that allow you to assess how much you’ve learned and where you need to focus your attention
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  • Chapter summaries with learning objectives that reinforce the most important material
  • Additional video and multimedia resources tied to learning objectives that bring concepts to life, making learning easier
  • Sample pitch decks that provide suggested models for developing a pitch

“A very good primer on business startups in the twenty first century. The book is practice oriented, well-written and includes a good overview of the key areas of importance for the budding entrepreneur.”

Robert W. Robertson
Independence University

“I really like the chapter on design thinking; IT TEACHES STUDENTS HOW TO THINK (outside the box), to identify an idea and develop it.”

Bill Zannini
Northern Essex Community College

“It SPEAKS FRANKLY ABOUT SUBJECTS in a personal manner that most other textbooks don’t address—like worry and fear.”

Timothy Ritter
Western Kentucky University

“I think [the coverage of learning from failure] is a welcome change! Students learn so much by hearing strategies of overcoming ‘what went wrong’ and how to do it right the next time. I COMMEND THE AUTHORS for taking this approach and am glad that they included this vital part of the entrepreneurial process.”

Amy Gresock
University of Michigan, Flint

I think this book is STRONG, LEADING EDGE VIEW of modern entrepreneurship. The three chapters I reviewed did a wonderful job of presenting the entrepreneurial mindset, design thinking, and failing forward.”

Charlie Nagelschmidt
Champlain College
Key features

KEY FEATURES

  • Each chapter includes a “mindshift activity” where students take action outside the classroom in order to practice various aspects of entrepreneurship. 
  • Instructors are provided with detailed, imaginative experiential learning activities
  • A chapter on Learning From Failure helps students anticipate setbacks, develop grit, and understand the value of experimentation and iteration.
  • Coverage of contemporary topics such as design thinking, business model canvas, bootstrapping, and crowdfunding are covered in depth, exposing your students to the latest developments in the field.  
  • The text concludes with Creating Your Pitch Deck, delivering a template to help students create a unique and memorable way to present their business idea to investors.

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ISBN: 9781506377735
ISBN: 9781483383521