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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 the new edition of this ground-breaking text. Based on the world-renowned Babson Entrepreneurship program, Entrepreneurship: The Practice and Mindset 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. They will 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 and teaches them life skills needed by all.



New to the Second Edition is a chapter on developing your customers, updated case studies, Mindshift Activities and Entrepreneurship in Action profiles, and expanded coverage of prototyping, incubators, accelerators, building teams, and marketing trends.

Entrepreneurship - International Student Edition: The Practice and Mindset

Preface

Acknowledgements

About the Authors

Part 1. Entrepreneurship is a Life Skill

Chapter 1. Practicing Entreprenuership

1.1 Entrepreneurship Requires Action and Practice

1.2 Entrepreneurship May Be Different From What You Think

1.3 Types of Entrepreneurship

1.4 Entrepreneurship Is A Method Not a Process

1.5 The Method Involves Creating the Future - Not Predicting It

1.6 The Key Components of the Entrepreneurship Method

1.7 Entrepreneurship Requires Deliberate Practice

1.8 How This Book Will Help You Practice Entrepreneurship

Chapter 2. Activating an Entrepreneurial Mindset

2.1 The Power of Mindset

2.2 What is Mindset?

2.3 The Self-Leadership Habit

2.4 The Creativity Habit

2.5 The Improvisation Habit

2.6 The Mindset As The Pathway to Action

Part II. Creating and Finding Opportunities

Chapter 3. Creating and Recognizing New Opportunities

3.1 The Entrepreneurial Mindset and Opportunity Recognition

3.2 Opportunities Start With Thousands of Ideas

3.3 Four Pathways To Opportunity Identification

3.4 Opportunities Through Alertness, Prior Knowledge and Pattern Recognition

3.5 From Idea Generation To Opportunity Recognition

Chapter 4: Using Design Thinking

4.1 What is Design Thinking?

4.2 Design Thinking As A Human-Centered Process

4.3 Design Thinking Requires Empathy

4.4 The Design-Thinking Process: Inspiration, Ideation, Implementation

4.5 Needs Discovery Technique #1: Observation

4.6 Needs Discovery Technique #2: Interviewing

4.7 Variations Of The Design-Thinking Process

Chapter 5. Building Business Models

5.1 What is A Business Model?

5.2 The Four Parts of A Business Model

5.3 The Customer Value Proposition (CVP)

5.4 Different Types Of CVPs And Customer Segments

5.5 The Business Model Canvas (BMC)

Chapter 6. Developing your Customers

6.1 Customers and Markets

6.2 Types of Customers

6.3 Customer Segmentation

6.4 Target Customer Group

6.5 Customer Personas

6.6 Customer Journey Mapping Process

6.7 Market Sizing

Chapter 7. Testing and Experimenting New Ideas

7.1 Experiments: What They Are and Why We Do Them

7.2 Types of Experiments

7.3 A Deeper Look at Prototypes

7.4 Hypothesis Testing & the Scientific Method Applied to Entrepreneurship

7.5 The Experimentation Template

7.6 Interviewing for Customer Feedback

Chapter 8. Developing Networks and Building Teams

8.1 The Power of Networks

8.2 The Value of Networks

8.3 Building Networks

8.4 Virtual Networking

8.5 Networking to Build the Founding Team

Part III. Evaluating and Acting on Opportunities

Chapter 9. Creating Revenue Models

9.1 What is A Revenue Model?

9.2 Different Types of Revenue Models

9.3 Generating Revenue From "Free"

9.4 Revenue and Cost Drivers

9.5 Pricing Strategies

9.6 Calculating Prices

Chapter 10. Planning for Entrepreneurs

10.1 What is Planning?

10.2 Planning Starts with a Vision

10.3 Plans Take Many Forms

10.4 Questions to Ask During Planning

10.5 The Business Plan Debate

10.6 Tips for Writing Any Type of Plan

Chapter 11. Learning From Failure

11.1 Failure and Entrepreneurship

11.2 The Failure Spectrum

11.3 Fear of Failure

11.4 Learning From Failure

11.5 Getting Gritty: Building a Tolerance for Failure

Part IV. Resourcing New Opportunities

Chapter 12. Bootstrapping and Crowdfunding for Resources

12.1 What is Bootstrapping?

12.2 Bootstrapping Strategies

12.3 Crowdfunding Versus Crowdsourcing

12.4 Crowdfunding Startups and Entrepreneurships

12.5 The Four Contexts for Crowdfunding

12.6 A Quick Guide to Successful Crowdfunding

Chapter 13. Financing for Startups

13.1 What is Equity Financing?

13.2 The Basics of Valuation

13.3 Angel Investors

13.4 Venture Capitalists (VCS)

13.5 Due Diligence

Chapter 14. Navigating Legal and IP Issues

14.1 Legal Considerations

14.2 Types of Legal Structures

14.3 Legal Mistakes Made by Startups

14.4 Intellectual Property (IP)

14.5 Global IP Theft

14.6 Common IP Traps

14.7 Hiring Employees

Chapter 15. Engaging Customers Through Marketing

15.1 What is Entrepreneurial Marketing

15.2 The Basic Principles of Marketing

15.3 Building a Brand

15.4 Marketing Tools for Entrepreneurs

15.5 Creating Your Personal Brand

Chapter 16. Supporting Social Entrepreneurship

16.1 The Role of Social Entprenreneurship

16.2 Social Entrepreneurship and Wicked Problems

16.3 Types of Social Entrepreneurship

16.4 Capital Markets for Social Entrepreneurs

16.5 Social Entrepreneurs and Their Stakeholders

16.6 Differences Between Social Entrepreneurship and Corporate Social Responsibility

16.7 Social Entrepreneurship and Audacious Ideas

16.8 Global Entrepreneurship

Glossary

Supplement A - Financial Statements and Projections for Startups

Supplement B - The Pitch