Home > Store

Fundamentals for Becoming a Successful Entrepreneur: From Business Idea to Launch and Management

Register your product to gain access to bonus material or receive a coupon.

Fundamentals for Becoming a Successful Entrepreneur: From Business Idea to Launch and Management

Best Value Purchase

Book + eBook Bundle

  • Your Price: $83.99
  • List Price: $139.98
  • Includes EPUB, MOBI, and PDF
  • About eBook Formats
  • This eBook includes the following formats, accessible from your Account page after purchase:

    ePub EPUB The open industry format known for its reflowable content and usability on supported mobile devices.

    MOBI MOBI The eBook format compatible with the Amazon Kindle and Amazon Kindle applications.

    Adobe Reader PDF The popular standard, used most often with the free Adobe® Reader® software.

    This eBook requires no passwords or activation to read. We customize your eBook by discreetly watermarking it with your name, making it uniquely yours.

More Purchase Options

Book

  • Your Price: $59.49
  • List Price: $69.99
  • Usually ships in 24 hours.

eBook (Watermarked)

  • Your Price: $59.49
  • List Price: $69.99
  • Includes EPUB, MOBI, and PDF
  • About eBook Formats
  • This eBook includes the following formats, accessible from your Account page after purchase:

    ePub EPUB The open industry format known for its reflowable content and usability on supported mobile devices.

    MOBI MOBI The eBook format compatible with the Amazon Kindle and Amazon Kindle applications.

    Adobe Reader PDF The popular standard, used most often with the free Adobe® Reader® software.

    This eBook requires no passwords or activation to read. We customize your eBook by discreetly watermarking it with your name, making it uniquely yours.

About

Features

Description

  • Copyright 2016
  • Dimensions: 6" x 9"
  • Pages: 288
  • Edition: 1st
  • Book
  • ISBN-10: 0-13-396681-X
  • ISBN-13: 978-0-13-396681-7

This is the complete, up-to-date guide to creating a successful new venture. Using real-life examples, it helps you assemble every piece of the puzzle: you, your team, your opportunity, your business concept and revenue model, your resources, and your successful launch, execution, and growth.


The authors illuminate entrepreneurial mindsets, motivation, attitudes, and leadership, and cover the entire process of starting a company, from idea through your first four years of operations. You’ll learn how to recognize, define, test, and exploit opportunities; transform ideas into revenue models that earn sustainable value; demonstrate viability to funders; establish a strong ethical and legal foundation for your concept; and build a thriving team to execute on it.


You can use this guide’s entrepreneurship techniques and approaches in many ways: to build a profitable new venture, to succeed as a self-employed professional, to make a non-profit or public agency more successful, or even to transform your current organization!


Entrepreneurship: From dreams to outcomes
Defining success for yourself—and achieving it

Designing concepts for profitability and growth
Planning your high-potential business, step by step

Innovating in product/service development and marketing
Delivering something new that your market will value

Building your entrepreneurial venture, one person at a time
Developing great teams—and avoiding common hiring mistakes

Mastering the essentials of entrepreneurial finance
Revenue models, financing options, metrics, and growth

Sample Content

Online Sample Chapter

What Is This Thing Called Entrepreneurship?

Sample Pages

Download the sample pages (includes Chapter 1 and Index)

Table of Contents

Introduction: Why This Book, What It Is All About, and Who We Are     xi
The Why     xi
The What     xiii
The Who     xvi
Chapter 1: What Is This Thing Called Entrepreneurship?     1
Introduction     1
The Entrepreneur     1
Entrepreneurial Dreams and Their Outcomes     2
There Is No One Narrative     4
Collective Dreams     6
Why Entrepreneurship Became Important     6
Challenging Assumptions—Entrepreneurship Is for All     7
Entrepreneurial Environments     9
National Innovation Systems for Entrepreneurs     10
    Incubators and Accelerators     11
Entrepreneurs: Made or Born     12
Who Is an Entrepreneur?    12
The Entrepreneurial Personality 13
Entrepreneurial Mindset     14
Defining Entrepreneurship: It All Depends     16
Opportunity Recognition     17
Entrepreneurial Goals     19
Different Goals for Different Folks     20
Other Definitional Issues     20
The Self-Employed as Entrepreneurs     22
    The Context for Self-Employed Entrepreneurs     22
A False Dichotomy     25
Do Goals Differentiate?     26
    A Mini-Case Example     27
Opportunity and the Entrepreneur     28
Exercises     29
Advanced Exercises     30
References     31
Chapter 2: What Is Being Successful: Well It All Depends     33
Why Examine Success?     33
    Case Example from Finland and Sweden     33
Defining Success     37
Defining Failure     37
Measurement Issues in Defining Success (and Failure)    39
Success in the Entrepreneurial Context     40
How Some Firm Founders See Success     41
How Entrepreneurship Researchers View Success     42
An Ancient Narrative on Obtaining Success     44
Success and Opportunity     44
Tying Success to Entrepreneurial Goals     45
Is Success Wealth?    46
The True Secret to Success: Networking     47
    Rules for Networking     49
Finally, Success Is Having Fun     50
Case Example from Italy     51
Conclusion     54
Exercises     55
References     55
Chapter 3: Getting a Good Idea and Making It Work     57
Overview     57
The Idea     57
Idea Generation     58
    Concept Benefits: Needs, Wants, and Fears     59
    Examples of Needs, Wants, and Fears     61
    Thinking out of the Box: Not Everything Needs a Hammer     62
    The Role of Creativity     63
The Concept     65
    The Conceptual Event     66
    A Case Example of the Conceptual Event     67
The Entrepreneur as a Dreamer     68
Generating Ideas     70
    Creating a Viable Business Concept and Business Model     71
    Looking for Trends and Counter Trends as Concept Sources     72
    Brainstorming: The Good and The Ugly     74
Timing: It Is Not First to Market     74
Designing a Concept for Profitability and Growth     75
    Building a Viable Business Concept     76
More Thoughts on Concept Development     78
Some Commentary on Franchises     79
The Concept Feasibility Worksheet Exercise     80
Exercise: Can You Describe the Concept?    82
References     84
Chapter 4: The Basics About Marketing You Have to Know     85
An Overview     85
Why Know Your Market?     86
What Is Marketing?    87
    Basic Marketing Terminology     87
Marketing Research: Doing the Work Upfront     91
    Market Research: Start Personally     92
    Examples of Walking Around Research     96
Developing Effective Marketing Strategies     97
    Mobile Devices and Marketing     99
    The Internet: The Best and Worst for a Venture     99
    Using the Internet and Cell Phone Apps     101
Selling: The Challenge     102
    Typical Problems in Selling Anything     102
    Selling to the Internet Generation     104
    Marketing in the Social Media Age     105
Advertising     106
Public Relations     107
Branding     108
Exercises     109
References     109
Chapter 5: It Is All About Building a Better Mousetrap: Product and Service Development     111
Overview     111
Product/Service Innovation     112
    Entrepreneurs Versus Inventors     113
    Stage-Gate Model of Product Development     114
    Using Stage-Gate Model     116
Types of Innovation     120
    Focus Innovation     121
    Innovation Impact     123
To Innovate or Not: That Is the Big Question     123
    Commercialization Is Key     125
    Defining New: In the Eye of the Beholder     125
Building on the Past     127
    Reinventing an Industry’s Products: Examples     127
    E-Commerce: Using Innovation in Marketing and Distribution     128
Industry Change as Opportunity for Product/Development     130
    Examples of Industrial Change Fostering New Models     130
Spotting New Trends for New Products/Services     132
Basic Conditions for Successful Products and Services     133
Case Study of New Product Development in a New Venture     134
Patents, Trade Secrets, and Copyrights     138
Exercise     138
References     139
Chapter 6: Finding Team Members and Building an Entrepreneurial Organization     141
Overview     141
Building the Venture One Person at a Time     142
    The Entrepreneurial Team     142
    Other Issues to Consider     144
    Outsourcing     145
Finding New Employees     146
    Big Hiring Errors     147
    Characteristics of a Good Hire     148
    A Mini-Case Example     150
Whom to Hire or Not, Whom to Fire or Not     151
    Saying “No” to an Applicant     152
    Firing an Employee     152
To Be a Family Firm or Not to Be     154
    What Is Firm Owning Family?    154
    Family Goals Impact Hiring     155
    Long-Term Impact of Hiring Family Members     156
Compensation, Benefits, and Stock Options     156
Building an Entrepreneurial Team Structure     158
    A Line Structure for Entrepreneurial Teams     159
    Project Approach to an Entrepreneurial Team Structure     161
    Informal Structure: Key to a Successful Entrepreneurial Team     161
New Firm Governance     162
Legal Structure Decisions     163
Final Thoughts on Entrepreneurial Management     165
Exercises     166
References     166
Chapter 7: Everything You Really Need to Know About Entrepreneurial Finance     169
Entrepreneurial Finance: An Introduction     169
Building an Entrepreneurial Financial Strategy     170
    Entrepreneurial Finance: Not Just Venture Capital and IPO     171
    Building a Sustainable Revenue Model     172
    Cash Flow: A Numerical Scorecard     174
    Determining Cash-Flow Needs     175
    Timing and Cash Flow     177
    Money Comes in Four Forms     179
Finding Money and Investors     182
    More Money Sources     183
    The Myth of Needing Deep Pockets     185
Understanding Investors and Bankability     186
    Capital     189
    Debt Financing     191
    Banks     192
    Venture Capital     192
    Angel Investors     193
    What Investors Look for in Any Venture     193
Bootstrap Financing     194
    Advantages to Bootstrapping     195
Crowd Funding     196
Exercises     198
References     199
Chapter 8: How to Grow or Not to Grow Your Venture: That Is the Management Challenge     201
Growing Your Venture: An Introduction     201
What Is Business Growth?     201
    Developing a Workable Growth Strategy     202
    Growth and Success     203
    Mini-Case on Growth by Replication     204
Describing Growth Versus Defining Growth     206
    Some Descriptions and Issues     207
Growth and Competition     216
Growth as Metamorphosis     218
Conclusion     221
Exercise     221
References     222
Chapter 9: Planning: Should You, When Do You, and How Do You?    223
Overview of Plans and Planning     223
Why Plan?    225
    Hooked on a Feeling     227
When Do You Plan?    228
How Long Will It Take?    229
For Whom Do You Plan?    230
What Goes into a Business Plan?    232
Detail Content of a Written Business Plan     232
    Executive Summary Content     233
    Marketing Plan Content     235
    About Competition     237
    Management and Organizational Plan     238
    Financial Plan Content     240
General Comments Concerning Plans     242
Final Words on Planning and Success     242
    Mini-Case on Chocolate Pralines     243
Index     247

Updates

Submit Errata

More Information

InformIT Promotional Mailings & Special Offers

I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.

Overview


Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information


To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

Surveys

Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

Newsletters

If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information


Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.

Security


Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

Children


This site is not directed to children under the age of 13.

Marketing


Pearson may send or direct marketing communications to users, provided that

  • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
  • Such marketing is consistent with applicable law and Pearson's legal obligations.
  • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
  • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information


If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

Choice/Opt-out


Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information


Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents


California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure


Pearson may disclose personal information, as follows:

  • As required by law.
  • With the consent of the individual (or their parent, if the individual is a minor)
  • In response to a subpoena, court order or legal process, to the extent permitted or required by law
  • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
  • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
  • To investigate or address actual or suspected fraud or other illegal activities
  • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
  • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
  • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

Links


This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact


Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice


We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020