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Table of contents
  1. Preface
  2. 1 The Entrepreneurial Perspective
    1. Introduction
    2. 1.1 Entrepreneurship Today
    3. 1.2 Entrepreneurial Vision and Goals
    4. 1.3 The Entrepreneurial Mindset
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  3. 2 The Entrepreneurial Journey and Pathways
    1. Introduction
    2. 2.1 Overview of the Entrepreneurial Journey
    3. 2.2 The Process of Becoming an Entrepreneur
    4. 2.3 Entrepreneurial Pathways
    5. 2.4 Frameworks to Inform Your Entrepreneurial Path
    6. Key Terms
    7. Summary
    8. Review Questions
    9. Discussion Questions
    10. Case Questions
    11. Suggested Resources
  4. 3 The Ethical and Social Responsibilities of Entrepreneurs
    1. Introduction
    2. 3.1 Ethical and Legal Issues in Entrepreneurship
    3. 3.2 Corporate Social Responsibility and Social Entrepreneurship
    4. 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  5. 4 Creativity, Innovation, and Invention
    1. Introduction
    2. 4.1 Tools for Creativity and Innovation
    3. 4.2 Creativity, Innovation, and Invention: How They Differ
    4. 4.3 Developing Ideas, Innovations, and Inventions
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  6. 5 Identifying Entrepreneurial Opportunity
    1. Introduction
    2. 5.1 Entrepreneurial Opportunity
    3. 5.2 Researching Potential Business Opportunities
    4. 5.3 Competitive Analysis
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  7. 6 Problem Solving and Need Recognition Techniques
    1. Introduction
    2. 6.1 Problem Solving to Find Entrepreneurial Solutions
    3. 6.2 Creative Problem-Solving Process
    4. 6.3 Design Thinking
    5. 6.4 Lean Processes
    6. Key Terms
    7. Summary
    8. Review Questions
    9. Discussion Questions
    10. Case Questions
    11. Suggested Resources
  8. 7 Telling Your Entrepreneurial Story and Pitching the Idea
    1. Introduction
    2. 7.1 Clarifying Your Vision, Mission, and Goals
    3. 7.2 Sharing Your Entrepreneurial Story
    4. 7.3 Developing Pitches for Various Audiences and Goals
    5. 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
    6. 7.5 Reality Check: Contests and Competitions
    7. Key Terms
    8. Summary
    9. Review Questions
    10. Discussion Questions
    11. Case Questions
    12. Suggested Resources
  9. 8 Entrepreneurial Marketing and Sales
    1. Introduction
    2. 8.1 Entrepreneurial Marketing and the Marketing Mix
    3. 8.2 Market Research, Market Opportunity Recognition, and Target Market
    4. 8.3 Marketing Techniques and Tools for Entrepreneurs
    5. 8.4 Entrepreneurial Branding
    6. 8.5 Marketing Strategy and the Marketing Plan
    7. 8.6 Sales and Customer Service
    8. Key Terms
    9. Summary
    10. Review Questions
    11. Discussion Questions
    12. Case Questions
    13. Suggested Resources
  10. 9 Entrepreneurial Finance and Accounting
    1. Introduction
    2. 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
    3. 9.2 Special Funding Strategies
    4. 9.3 Accounting Basics for Entrepreneurs
    5. 9.4 Developing Startup Financial Statements and Projections
    6. Key Terms
    7. Summary
    8. Review Questions
    9. Discussion Questions
    10. Case Questions
    11. Suggested Resources
  11. 10 Launch for Growth to Success
    1. Introduction
    2. 10.1 Launching the Imperfect Business: Lean Startup
    3. 10.2 Why Early Failure Can Lead to Success Later
    4. 10.3 The Challenging Truth about Business Ownership
    5. 10.4 Managing, Following, and Adjusting the Initial Plan
    6. 10.5 Growth: Signs, Pains, and Cautions
    7. Key Terms
    8. Summary
    9. Review Questions
    10. Discussion Questions
    11. Case Questions
    12. Suggested Resources
  12. 11 Business Model and Plan
    1. Introduction
    2. 11.1 Avoiding the “Field of Dreams” Approach
    3. 11.2 Designing the Business Model
    4. 11.3 Conducting a Feasibility Analysis
    5. 11.4 The Business Plan
    6. Key Terms
    7. Summary
    8. Review Questions
    9. Discussion Questions
    10. Case Questions
    11. Suggested Resources
  13. 12 Building Networks and Foundations
    1. Introduction
    2. 12.1 Building and Connecting to Networks
    3. 12.2 Building the Entrepreneurial Dream Team
    4. 12.3 Designing a Startup Operational Plan
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  14. 13 Business Structure Options: Legal, Tax, and Risk Issues
    1. Introduction
    2. 13.1 Business Structures: Overview of Legal and Tax Considerations
    3. 13.2 Corporations
    4. 13.3 Partnerships and Joint Ventures
    5. 13.4 Limited Liability Companies
    6. 13.5 Sole Proprietorships
    7. 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
    8. 13.7 Mitigating and Managing Risks
    9. Key Terms
    10. Summary
    11. Review Questions
    12. Discussion Questions
    13. Case Questions
    14. Suggested Resources
  15. 14 Fundamentals of Resource Planning
    1. Introduction
    2. 14.1 Types of Resources
    3. 14.2 Using the PEST Framework to Assess Resource Needs
    4. 14.3 Managing Resources over the Venture Life Cycle
    5. Key Terms
    6. Summary
    7. Review Questions
    8. Discussion Questions
    9. Case Questions
    10. Suggested Resources
  16. 15 Next Steps
    1. Introduction
    2. 15.1 Launching Your Venture
    3. 15.2 Making Difficult Business Decisions in Response to Challenges
    4. 15.3 Seeking Help or Support
    5. 15.4 Now What? Serving as a Mentor, Consultant, or Champion
    6. 15.5 Reflections: Documenting the Journey
    7. Key Terms
    8. Summary
    9. Review Questions
    10. Discussion Questions
    11. Case Questions
    12. Suggested Resources
  17. A | Suggested Resources
  18. Index
A
algae energy pavilion Introduction
American Association of Advertising Agencies 12.1 Building and Connecting to Networks
American Association of Franchisees and Dealers 12.1 Building and Connecting to Networks
American Retirement Association 12.1 Building and Connecting to Networks
AmeriCorps 13.2 Corporations
Arrieta Introduction
articles of formation 13.4 Limited Liability Companies
articles of incorporation 13.2 Corporations
articles of partnership 13.3 Partnerships and Joint Ventures
assessment 6.4 Lean Processes
Association of American Educators 12.1 Building and Connecting to Networks
Association of Licensed Architects 12.1 Building and Connecting to Networks
Automotive Maintenance Repair Association 12.1 Building and Connecting to Networks
B
Barna Introduction
Baylor University New Venture Competition 7.5 Reality Check: Contests and Competitions
benefit corporation 13.2 Corporations
Bill and Melinda Gates Foundation 9.2 Special Funding Strategies
Birthday Party Project 11.2 Designing the Business Model
board of directors 13.2 Corporations
Boston Beer Company 9.2 Special Funding Strategies
brief business plan 11.4 The Business Plan
Burt’s Bees Corporation 1.1 Entrepreneurship Today
Business for Social Responsibility 3.1 Ethical and Legal Issues in Entrepreneurship
Business Network International 12.1 Building and Connecting to Networks
business process patent 14.1 Types of Resources
C
C corporation 13.2 Corporations
C corporations 13.2 Corporations
calculated risk 1.1 Entrepreneurship Today
California Pizza Kitchen 10.5 Growth: Signs, Pains, and Cautions
Charitable organizations 9.2 Special Funding Strategies
close corporation 13.2 Corporations
closed corporation 13.2 Corporations
closely held corporation 13.2 Corporations, 13.2 Corporations
Coastal Tractor 1 Case Questions
collaborative methodologies 6.2 Creative Problem-Solving Process
Collegiate Entrepreneurs’ Organization 7.5 Reality Check: Contests and Competitions
Committee of Sponsoring Organizations of the Treadway Commission 13.7 Mitigating and Managing Risks
Community Supported Agriculture 14.3 Managing Resources over the Venture Life Cycle
company culture 15.1 Launching Your Venture
competitive analysis grid 5.3 Competitive Analysis
competitive matrix 11.4 The Business Plan
Consumer Financial Protection Bureau (CFPB) 3.2 Corporate Social Responsibility and Social Entrepreneurship
corporate entrepreneurship 2.2 The Process of Becoming an Entrepreneur
Corporation for Public Broadcasting 13.2 Corporations
creative thinking process 1.2 Entrepreneurial Vision and Goals
current asset value 14.1 Types of Resources
customer empathy map 11.2 Designing the Business Model
customer value proposition 5.3 Competitive Analysis
D
da Silva 3 Case Questions
Dallas Cowboys 12 Case Questions
David Kelley Design 6.3 Design Thinking
decision tree 14.1 Types of Resources
design thinking process 6.3 Design Thinking
design thinking tools 6.3 Design Thinking
disruptive technology 1.3 The Entrepreneurial Mindset
distributed partnership profits 13.3 Partnerships and Joint Ventures
doing business as 13.5 Sole Proprietorships
Dominion Harbor Group 5.1 Entrepreneurial Opportunity
DoSomething.org Introduction
DoSomething.Org 11 Case Questions
Draper Competition for Collegiate Women Entrepreneurs 7.5 Reality Check: Contests and Competitions
Dunkin’ Donuts 1.1 Entrepreneurship Today
E
Economic causes of risk 13.7 Mitigating and Managing Risks
Empowerment Through Integration (ETI) Introduction
enterprise risk management 13.7 Mitigating and Managing Risks
Environmental Protection Agency (EPA) 14.2 Using the PEST Framework to Assess Resource Needs
external environment 6.4 Lean Processes
external locus of control 12.3 Designing a Startup Operational Plan
F
Fairchild Semiconductor 2.3 Entrepreneurial Pathways
Fannie Mae 13.2 Corporations
Fear of missing out (FOMO) 7.2 Sharing Your Entrepreneurial Story
Federal Aviation Administration (FAA) 14.3 Managing Resources over the Venture Life Cycle
Federal Communications Commission 13.7 Mitigating and Managing Risks
Female Entrepreneur Association 10.3 The Challenging Truth about Business Ownership
Financial Industry Regulatory Authority (FINRA) 3.2 Corporate Social Responsibility and Social Entrepreneurship
financial plan 11.4 The Business Plan
First Industrial Revolution 2.2 The Process of Becoming an Entrepreneur
for-profit corporations 13.2 Corporations
founders’ agreement 15.1 Launching Your Venture
Four Lenses Strategic Framework 2.4 Frameworks to Inform Your Entrepreneurial Path
Freddie Mac 13.2 Corporations
Funding resources 14.1 Types of Resources
G
Global Entrepreneurship Index 1.1 Entrepreneurship Today
Good Sports 11 Case Questions
Green Business Network at Green America 12.1 Building and Connecting to Networks
Guidewell Innovation Center 11 Case Questions
H
Hagler Introduction
Hewlett-Packard Corporation (HP) 7.2 Sharing Your Entrepreneurial Story
Hirabayashi Introduction
Hispanic, Black, and Asian American Chambers 10.3 The Challenging Truth about Business Ownership
Human causes of risk 13.7 Mitigating and Managing Risks
human-centered design (HCD) 6.3 Design Thinking
I
IndUS Entrepreneurs 11.4 The Business Plan
information and communication technologies (ICTs) 7.2 Sharing Your Entrepreneurial Story
Infrastructure 5.3 Competitive Analysis
innovation flowchart 6.3 Design Thinking
Insider Trading and Securities Fraud Enforcement Act 3.2 Corporate Social Responsibility and Social Entrepreneurship
Intangible resources 14.1 Types of Resources
internal environment 6.4 Lean Processes
internal locus of control 12.3 Designing a Startup Operational Plan
Internal Revenue Service 9.2 Special Funding Strategies
International Franchise Association 12.1 Building and Connecting to Networks
Internet Association 12 Case Questions
J
Jiffy Lube 12 Case Questions
John Deere Company 7 Case Questions
Johnny Cupcakes 14.1 Types of Resources
just-in-time inventory system 12.3 Designing a Startup Operational Plan
L
Lafci Introduction
Laughing Man Coffee 11.4 The Business Plan
Laughing Man Foundation 11.4 The Business Plan
lean manufacturing 6.4 Lean Processes
lean problem-solving process 6.4 Lean Processes
lean process 6.4 Lean Processes
Libin Introduction
Library of Congress 14.1 Types of Resources
Lidey Introduction
lifestyle business 15.1 Launching Your Venture
lifestyle venture 1.1 Entrepreneurship Today
limited liability company 13.4 Limited Liability Companies
limited liability limited partnership (LLLP) 13.3 Partnerships and Joint Ventures
limited liability partnerships 13.3 Partnerships and Joint Ventures
limited personal liability 13.7 Mitigating and Managing Risks
line of credit 14.1 Types of Resources
Liran Introduction
LUMA Institute 6.3 Design Thinking
LuminAID Introduction
M
Madam C. J. Walker Hair Culturists Union of America 2.2 The Process of Becoming an Entrepreneur
Marshall Introduction
member-managed LLCs 13.4 Limited Liability Companies
mergers and acquisitions 10.5 Growth: Signs, Pains, and Cautions
Metropolitan Museum of Art 9.2 Special Funding Strategies
Microsoft Excel 14.1 Types of Resources
Microsoft PowerPoint 14.1 Types of Resources
Microsoft Word 14.1 Types of Resources
minimum viable product 11.2 Designing the Business Model
Minority Business and Development Agency (MBDA) 10.3 The Challenging Truth about Business Ownership
Minority Business Development Agency 10.3 The Challenging Truth about Business Ownership
Monahan Introduction
Mothers Against Drunk Drivers (MADD) 12.1 Building and Connecting to Networks
N
National Aeronautics and Space Administration 14.1 Types of Resources
National Association for the Education of Young Children 12.1 Building and Connecting to Networks
National Association for Women Owners 10.3 The Challenging Truth about Business Ownership
National Association of Broadcasters 11 Case Questions
National Association of Professional Women 10.3 The Challenging Truth about Business Ownership
National Institutes of Health (NIH) 9.2 Special Funding Strategies
National Negro Cosmetics Manufacturers Association 2.2 The Process of Becoming an Entrepreneur
National Science Foundation 14.1 Types of Resources
Natural causes of risk 13.7 Mitigating and Managing Risks
New Balance Company 6.4 Lean Processes
New York City Public Library 9.2 Special Funding Strategies
New York StartUP! Business Plan Competition 9.2 Special Funding Strategies
nondisclosure agreement 15.1 Launching Your Venture
North American Industry Classification System (NAICS) 12.2 Building the Entrepreneurial Dream Team
Not-for-profit corporations 13.2 Corporations
O
Observation 6.4 Lean Processes
Occupational Safety and Hazard Association 14.2 Using the PEST Framework to Assess Resource Needs
Office of the US Trade Representative 12.1 Building and Connecting to Networks
operational business plan 12.3 Designing a Startup Operational Plan
opportunity-identifying perspective 1.1 Entrepreneurship Today
organizational roadmap 11.4 The Business Plan
Overseas Private Investment Corporation 12.1 Building and Connecting to Networks
P
partnership agreement 13.3 Partnerships and Joint Ventures
pass-through entities 13.3 Partnerships and Joint Ventures
Payment Card Industry Data Security Standard 13.7 Mitigating and Managing Risks
People for the Ethical Treatment of Animals (PETA) 12.1 Building and Connecting to Networks
personally liable 13.5 Sole Proprietorships
PEST analysis 5.3 Competitive Analysis
Petrobras 3 Case Questions
piercing the corporate veil 13.2 Corporations
Pipeline Angels 14.1 Types of Resources
Potential Rating Index for Zip Markets (PRIZM) 5.2 Researching Potential Business Opportunities
Pretty Young Professional 11.4 The Business Plan, 11 Case Questions
Pretty Young Professionals (PYP) 10.2 Why Early Failure Can Lead to Success Later
private-public partnerships 12.1 Building and Connecting to Networks
privately held corporation 13.2 Corporations
Process Excellence 6.4 Lean Processes
product liability lawsuits 13.7 Mitigating and Managing Risks
product-based business 14.1 Types of Resources
Promoting Women in Entrepreneurship Act 2.4 Frameworks to Inform Your Entrepreneurial Path
Public Company Accounting Oversight Board (PCAOB) 3.2 Corporate Social Responsibility and Social Entrepreneurship, 13.2 Corporations
public corporation 13.2 Corporations
publicly held corporation 13.2 Corporations
publicly traded corporation 13.2 Corporations
R
Rapid Brands Introduction
resource dependence theory (RDT) model 14.3 Managing Resources over the Venture Life Cycle
return on investment (ROI) 2.2 The Process of Becoming an Entrepreneur
Rousseff 3 Case Questions
S
Samsung Electronics 3 Case Questions
search engine optimization (SEO) 8.3 Marketing Techniques and Tools for Entrepreneurs
Second Industrial Revolution 2.2 The Process of Becoming an Entrepreneur
Securities and Exchange Commission (SEC) 3.2 Corporate Social Responsibility and Social Entrepreneurship
Senior Core of Retired Executives 14.3 Managing Resources over the Venture Life Cycle
service-based business 14.1 Types of Resources
SharkBot 3D Printer 1.1 Entrepreneurship Today
Shine Introduction
Shine Talks Introduction
Shockley Semiconductor 2.3 Entrepreneurial Pathways
Silicon Valley Bank (SVB) Financial Group 5.1 Entrepreneurial Opportunity
situational opportunity 2.3 Entrepreneurial Pathways
Six Sigma 6.4 Lean Processes
six-step sales process 8.6 Sales and Customer Service
Sixteen Personality Factor Questionnaire 12.2 Building the Entrepreneurial Dream Team
Slaughter 7 Case Questions
Small Business Association (SBA) 14.1 Types of Resources
Small Business Development Center 14.3 Managing Resources over the Venture Life Cycle
Small Business Development Centers (SBDCs) 12.1 Building and Connecting to Networks
Small Business Innovation Research Program 14.1 Types of Resources
Small Business Technology Transfer Program 14.1 Types of Resources
social business model canvas 11.2 Designing the Business Model
social entrepreneur 1.1 Entrepreneurship Today
sole proprietor 13.5 Sole Proprietorships
Spanx, Incorporated 5.1 Entrepreneurial Opportunity
Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) 11.4 The Business Plan
Stanford Design School 6.3 Design Thinking
state of incorporation 13.2 Corporations
SuperGlass Windshield Repair 12 Case Questions
sustainable strategy 9.2 Special Funding Strategies
T
Tangible resources 14.1 Types of Resources
tax-exempt status 9.2 Special Funding Strategies
Tech Talent South 11 Case Questions
Textbooks for Change 11.4 The Business Plan
The Entrepreneur Next Door 2.2 The Process of Becoming an Entrepreneur
The Wander Girls 1.1 Entrepreneurship Today
three circles tool 5.3 Competitive Analysis
total costs of ownership (TCO) 12.3 Designing a Startup Operational Plan
Transparency International 1.1 Entrepreneurship Today
Turing Pharmaceuticals Introduction
U
UNESCO Global Action Programme on Education for Sustainable Development 1.1 Entrepreneurship Today
UNESCO’s Global Action Programme on Education for Sustainable Development Introduction
unique selling proposition 5.3 Competitive Analysis
United Nations Children’s Fund (UNICEF) 6.2 Creative Problem-Solving Process
US Copyright Office 14.1 Types of Resources
US Patent and Trademark Office (USPTO) 14.1 Types of Resources
US Postal Service 13.2 Corporations
US Small Business Administration 5.2 Researching Potential Business Opportunities
US Small Business Administration (SBA) 2.1 Overview of the Entrepreneurial Journey
US Trade and Development Agency 12.1 Building and Connecting to Networks
V
value proposition canvas 11.2 Designing the Business Model
Veteran’s Business Outreach Center (VBOC) 12.1 Building and Connecting to Networks
Vita Coco Introduction
W
Whiteboarding 6.4 Lean Processes
Winterkorn 3 Case Questions
Women’s Business Center (WBC) 12.1 Building and Connecting to Networks
Women’s Business Center of the Small Business Administration 10.3 The Challenging Truth about Business Ownership
Women’s Business Enterprise National Council 10.3 The Challenging Truth about Business Ownership
World’s Most Ethical Companies 3.1 Ethical and Legal Issues in Entrepreneurship