New Venture Creation
An Innovator's Guide to Entrepreneurship
- Marc H. Meyer - Northeastern University, USA
- Frederick G. Crane - Northeastern University, USA
Structured around the idea that innovation is at the core of successful entrepreneurship, this insightful guide by Meyer and Crane establishes innovation as a necessary first step before writing a business plan or developing a financial model. With a focus on pragmatic methods for gaining industry and customer insight and translating this insight into innovative product and service solutions, Meyer and Crane help students design robust business models, financial projections, business plans, and investor presentations. New Venture Creation is devoted to helping students develop compelling business ideas. This is based not only on the authors’ well-known research in product and service innovation, but also on their extensive experience as successful entrepreneurs and investors.
In the updated Second Edition, part I guides students through six elements that comprise a clearly defined and focused venture: defining your target industry; defining your target customers; defining the needs and wants of those customers; defining winning product and service solutions; carefully designing a strong business model; determining competitive positioning, and then testing the entire concept against a small population of target customers—all before writing the plan. Think, design, test, and learn are the guiding principles. Part II then focuses on different types of investors and the process for raising capital, creating realistic financial projections, writing a concise but powerful business plan, organizing the venture team, and creating a compelling pitch that speaks to the needs and concerns of investors. The book also includes a number of independent case studies that focus on product, service, and business model innovation—all from recent ventures by students as well as recent college or master’s level graduates.
Just to be recommended!
This textbook contains a number of useful excercises (some of them can be mid-term assignments), however it does not have relatively short case studies (to be used in classroom) that illustrate individual topics. At the end of the text there is a number of bigger case studies, but these can be solved by students once the whole material is discussed. I would need more ideas on tasks that activate students in the classroom.
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This is an invaluable text and a must read for all students.
I have adopted and required Introduction to leadership by Northouse for ALL 5 of my courses for FALL 2013 and plan to do the same for ALL 7 of my courses in SPRING 2014. I trust that I am your leading professor for using this text. It is outstanding. Your courage to publish it is appreciated.
Also, I have adopted Introduction to Intercultural Communication ALL 3 of my Intercultural Communication courses this academic year.
I teach business (management & finance), philosophy, communication, and psychology at Foothill College, Evergreen Valley College and the University of Phoenix. I am in search for a philosophy text for one of my Introduction to Philosophy courses at EVC in SPRING 2014.
I am indeed a dedicated SAGE instructor!
prof. douglas threet