In this chapter, the importance of entrepreneurship will be discussed. The Entrepreneurial Mindset, motivation, characteristics and empowered entrepreneurs are also discussed in this lesson.

This chapter introduces a sample of perspectives and tools designed to help individuals recognize potential business opportunities. The concept of design thinking is also examined in some detail.

This chapter introduces the idea that there are different types of economies while providing examples of ways to consider how economies can differ. It also introduces the distinct levels of analyses that must be considered while stressing the importance of applying the appropriate tools to conduct the analyses at each level.

In this chapter, the concept of the business model is introduced. One concept of the business model in particular, the Business Model Canvas, is explored as a way to conceptualize and categorize elements of a business model.

This chapter describes the purposes of business planning, the general concepts related to business planning, and guidelines and a format for a comprehensive business plan.

Securing needed financing is one of the most important functions related to starting a business. It is important, then, to understand what sources of financing exist at various stages of venture development. It is also important to determine what kinds of financing provide the most value for the entrepreneur and the new venture. Debt and equity financing decisions must be considered in relation to the cost of the financing and the amount of control that the owner is willing to sacrifice to get the needed resources.

This chapter introduces entrepreneurship topics related to the business set-up phase, start-up phase, and growth phase. These phases are relevant for most start-ups other than those that follow the lean start-up approach in which the elements of the phases described in this chapter are blended together in a process that involves releasing and continually revising product or service prototypes in response to customer feedback.

There are many strategic considerations for entrepreneurs, including a few big strategic issues like determining their exit strategies, planning for succession, and embracing ideas like sustainable entrepreneurship.

This chapter introduces the building blocks for both innovation and successful entrepreneurship while describing how innovation and entrepreneurship are interrelated concepts. It continues with a discussion about competencies—and specifically core competencies—as necessary building blocks for both innovation and successful entrepreneurship. The elements of innovation are also discussed.

Sample Business Plans