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Entrepreneurship
The Practice and Mindset

Third Edition


February 2024 | 600 pages | SAGE Publications, Inc
Recipient of a 2021 Textbook Excellence Award from the Textbook & Academic Authors Association (TAA)

Entrepreneurship: The Practice and Mindset emphasizes practice and learning through action, helping students adopt an entrepreneurial mindset so they can create opportunities and take action in uncertain environments. Based on the world-renowned Babson Entrepreneurship program, the updated Third Edition aids in the development of the entrepreneurial 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 and teach them crucial life skills.

This text is offered in Sage Vantage, an intuitive learning platform that integrates quality Sage textbook content with assignable multimedia activities and auto-graded assessments to drive student engagement and ensure accountability. Unparalleled in its ease of use and built for dynamic teaching and learning, Vantage offers customizable LMS integration and best-in-class support.

Watch this video walkthrough and see how Vantage works:


                              



 
Chapter 1: Practicing Entrepreneurship
Entrepreneurship May Be Different From What You Think

 
Beyond the Startup: Ways to Access Entrepreneurship

 
Entrepreneurship Is a Method That Requires Entrepreneurial Thinking

 
The Entrepreneurship Method Described

 
Entrepreneurship Takes Deliberate Practice

 
 
Chapter 2: Activating an Entrepreneurial Mindset
What Is Mindset?

 
The Entrepreneurial Mindset

 
How Your “Why Statement” Connects to Your Entrepreneurial Mindset

 
Habits to Practice for an Entrepreneurial Mindset

 
 
Chapter 3: Facilitating Social Entrepreneurship
The Two Dimensions of Social Entrepreneurship

 
Social Entrepreneurs Solve Wicked Problems

 
Types of Social Entrepreneurship

 
Funding Social Ventures

 
Social Entrepreneurs and Their Stakeholders

 
Measuring Impact

 
 
Chapter 4: Creating and Recognizing New Opportunities
What Is “Opportunity” in Entrepreneurship?

 
Opportunities Start With Thousands of Ideas

 
Four Pathways to Opportunity Identification

 
The IDEATE Method for Creating New Opportunities

 
Challenges Moving From Idea to Opportunity

 
 
Chapter 5: Using Design Thinking
What Is Design Thinking?

 
Design Thinking Is Human Centered

 
Design Thinking Requires Empathy

 
The Design-Thinking Process: Five Phases

 
A Deeper Dive Into Observation and Interviewing

 
Service Design Thinking

 
 
Chapter 6: Building Business Models
What Is a Business Model?

 
The Four Parts of a Business Model

 
The Customer Value Proposition

 
Different Types of CVPs and Customer Segments

 
Two Canvases, One Business Model

 
 
Chapter 7: Developing Your Customers
Customers and Markets

 
Customer Psychology

 
Customer Segmentation

 
Market Sizing

 
 
Chapter 8: Testing and Experimenting With New Ideas
Experiments: What They Are and Why We Do Them

 
Types of Experiments

 
A Deeper Look at Prototypes

 
The Scientific Method Applied to Entrepreneurship

 
Interviewing for Customer Feedback

 
The Reward of Gathering Your Own Evidence

 
 
Chapter 9: Developing Networks and Building Teams
The Power of Networks

 
The Value of Networks

 
Building Networks

 
Networking to Build the Founding Team

 
 
Chapter 10: Creating Revenue Models
What Is a Revenue Model?

 
Generating Revenue From “Free”

 
Revenue and Cost Drivers

 
Pricing Strategies

 
Calculating Price

 
 
Chapter 11: Anticipating Failure
Failure and Entrepreneurship

 
The Failure Spectrum

 
Fear of Failure

 
Learning From Failure

 
Using Resilience to Overcome Failure

 
 
Chapter 12: Bootstrapping and Crowdfunding for Resources
What Is Bootstrapping?

 
The Bootstrapped Startup

 
Crowdfunding Versus Crowdsourcing

 
Crowdfunding Startups and Entrepreneurship

 
The 4 Contexts for Crowdfunding

 
A Quick Guide to Successful Crowdfunding

 
 
Chapter 13: Financing for Startups
What Is Equity Financing?

 
The Basics of Valuation

 
Angel Investors

 
Venture Capitalists

 
Due Diligence

 
 
Supplement A: Financial Statements and Projections for Startups
3 Essential 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: Navigating Legal and IP Issues
Legal Considerations

 
Types of Legal Structures

 
Intellectual Property (IP)

 
Global IP Theft

 
Hiring Employees

 
 
Chapter 15: Engaging Customers Through Marketing
The Basic Principles of Marketing

 
Entrepreneurial Marketing

 
Building a Brand

 
Digital Marketing

 
Influencer Marketing

 
 
Chapter 16: Pitching to Launch
Planning for Pitching

 
The Most Common Planning Activities for Entrepreneurs

 
The Questions That Any Type of Planning Document Must Answer

 
Pitches Take Many Forms

 
The Pitch Deck

 
Pitching

 

Supplements

Instructor Resource Site
For additional information, custom options, or to request a personalized walkthrough of these resources, please contact your sales representative.

LMS cartridge included with this title for use in Blackboard, Canvas, Brightspace by Desire2Learn (D2L), and Moodle

The LMS cartridge makes it easy to import this title’s instructor resources into your learning management system (LMS). These resources include:
  • Test banks
  • Editable chapter-specific PowerPoint® slides
  • Sample course syllabi
  • Lecture notes
  • All tables and figures from the textbook
Don’t use an LMS platform?

You can still access the online resources for this title via the password-protected Instructor Resource Site.

"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

"I think the greatest strength of the book is that it is CLEAR YET INSIGHTFUL. It felt easy to read, while providing deep and important knowledge about entrepreneurship."

Laurent Josien
SUNY Plattsburgh

"Neck takes research and translates it into practical examples. This is a textbook that entrepreneurs will read. Essentially, I see this as the NEW PERFECT ENTREPRENEURSHIP TEXT."

Ryan Kauth
University of Wisconsin–Green Bay

"A book on entrepreneurship that is updated, current and relevant to the boomers, gen X, gen Y and the Millennials. It is a playbook, not a dry textbook. Readers can change their lives, perspectives and business models with this work."

Paula A. White
University of Phoenix

"Only book that is updated and current, reflecting new developments in society in the era of internet/social media."

Ram Kesavan
University of Detroit Mercy

"Professors (and students) serious about entrepreneurship as a practice will choose this text."

Susan Berston
City College of San Francisco
Key features
NEW TO THIS EDITION:
  • The new edition is available in Sage Vantage, an intuitive learning platform that integrates quality Sage textbook content with assignable multimedia activities and auto-graded assessments to drive student engagement and ensure accountability. Unparalleled in its ease of use and built for dynamic teaching and learning, Vantage offers customizable LMS integration and best-in-class support.
    • Flashcards and note-taking tools help students better prepare for class.
    • NEW! Audiobook Player allows students to listen to text content, boosting comprehension and retention. It offers flexible, on-the-go access, engaging both reluctant readers and auditory learners, improving the overall reading experience.
    • The Offline Reading option in the Student Dashboard offers greater accessibility to Vantage’s reading content, regardless of where students are or how strong their internet connection may be.
  • 14 new case studies and 15 new Entrepreneurship in Action profiles highlight a diverse range of entrepreneurs and startups.
  • 7 new Mindshift Activities provide students with even more opportunities to practice developing their entrepreneurial mindset and skillset.
  • Chapter 3 Facilitating Social Entrepreneurship is moved earlier in the book to emphasize using entrepreneurship for solving pressing social and environmental problems.
  • New Chapter 16 Pitching to Launch delivers a template to help students create a unique and memorable way to present their business idea to investors.
  • New expanded coverage of brand strategy, artificial intelligence, service design thinking, resilience and reflection, and diversity issues in entrepreneurship.
  • Updated research, statistics, and examples throughout.
KEY FEATURES:
  • 2 Mindshift Activities per chapter challenge students to take action outside the classroom and do entrepreneurship.
  • Instructors are provided with detailed, imaginative experiential learning activities.
  • A chapter on Learning from Failure helps students anticipate setbacks, develop resilience, and understand the value of experimentation and iteration.
  • VentureBlocks Simulation can be packaged with the book to help students practice entrepreneurial processes. Created by Heidi Neck and Anton Yakushin, the simulation has students complete missions to practice interviewing customers, identifying new opportunities, and reflect on what they’ve learned.
  • Assignable Sage Premium Video (available via the Sage Vantage platform, linked through Sage Coursepacks) that is tied to learning objectives, and curated and produced exclusively for this text to bring concepts to life, featuring Entrepreneur Challenge, Entrepreneurship in Action, and Make the Pitch video activities. Chapters include assignable assessment questions, complete assignable chapter knowledge check quizzes, and take a comprehensive chapter test to bring the subject matter to life in a way a traditional print text cannot.

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