SAGE - Student Study Site for New Venture Creation: An Innovator's Guide to Entrepreneurship, Second Edition

Chapter Resources

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Video Interviews

Ready Seafood: Creating a New Business Model in a Startup (http://www.youtube.com/watch?feature=player_embedded&v=Rs2RirpNXzg)
My M&Ms: An Internal Corporate Venture (http://www.youtube.com/watch?v=35HJq23qHHw&feature=player_embedded)
Generate Inc.: Creating an Information Services Venture with Strategic Corporate Investment (http://www.youtube.com/watch?v=1HV8i8PJJOI&feature=player_embedded)
Sentillion, Inc. : A Corporate Spinoff of Software (http://www.youtube.com/watch?feature=player_embedded&v=uy536Us_Wko)
mInfo: Mobile Search Venture in China (http://www.youtube.com/watch?feature=player_embedded&v=bWPHvrNhITE)

Chapter 1: Defining Your Industry Focus and the Type of Business You Want to Start

- What it takes to be an Entrepreneur
  Founder Impact puts together a compilation of quotes and thoughts on what it takes to be an entrepreneur
- Career Advice
  Donald Trump’s advice on how to succeed in your career especially on choosing an industry you like, not what is expected
- Analyzing Industries
  How to analyze an industry using Michael Porter’s 5 forces
- Porter's 5 Forces
  Porter’s 5 forces are broken down in a fun and entertaining story of someone trying to enter the rubber ducky market
- North American Industry Classification System
- Yahoo Finance
  Yahoo!Finance provides financial data for publicly traded companies.
- Earth Portal
  A website for environment innovation, hot topics and online publications of the National Council for Science and the Environment.
- PC Money Tree
  Tabulates recent quarter venture capital investments by technology industry.

Chapter 2: Defining the Target Customer

- Open View Ventures : What is Market Segmentation
  This video clip explains the importance and power of market segmentation
- How to Define Your Target Customers
  This clip explains many of the things that you need to take into thought while defining target customers
- Finding Hot Markets
  This video clip explains a few ways to identify niche markets and hot trends
- United States Census
  The United States Census website. This website contains information on population, income, and many other useful facts
- Generation X, Y, Z
  A website explaining the differences in generations, including many articles on what makes different generations unique
- Segmentation Study Guide
  A plethora of tools and resources for market segmentation
- 3M Company Website
  An extremely innovative and entrepreneurial company

Chapter 3: Defining the Needs of Target Customers

- Joseph Pine: What Consumers Want
  This TED Talk by Joseph Pine talks about how customers want something authentic
- Why Voice of the Customer is important
  This video clip talks about how gathering customer opinion has become tougher as time has passed and why it is important to adapt and keep up with customers
- Voice of the Customer
  This short animation explains what Voice of the customer is
- Steps for Successful Customer Research & Environmental Scans
  Erica Olsen, COO of M3 Planning and author of Strategic Planning Toolkit for Dummies talk about ways to perform effective research and environmental scans
- Qualtrics & Survey Monkey
  These two websites are both excellent tools for conducting surveys to get to know what your target customers are really thinking.
- University Spinouts
  An overview of best practices as well as issues with University spin-outs.
- Salesforce.com
  Low cost leader of customer relationship management solutions

Chapter 4: Defining Solutions for Customers

- Kick Out the Ladder
  A video of how Honda innovates and emphasizes the importance of new technologies
- Apple Product Line Expansion
  This video is the announcement of the expansion of the Apple line by debuting the iPhone
- Korkers OmniTrax
  This video explains the modular design of Korkers
- Pure Pest Management
  Pure Pest Management has a great example of a service portfolio and has defined a niche in premium, green, pest management.
- Korkers
  An excellent example of modularity. This company creates a solid platform to use across many products
- Dell & Lenovo
  Examples of “Good, Better, Best” Product Strategies

Chapter 5: Defining the Business Model for a Venture

- The New Business Model
  In this talk Guy Kawasaki talks about business models
- Scalable Business Models & Architecture
  In this talk Kenneth Denman discusses the importance of a scalable business model and architecture
- Innovation in Business Models
  Jeff Raikes talks about innovation in business models
- TEDx Business Models
  In this TEDxSaltLakeCity talk Jason Fairbourne talks about designing business models for the poor
- MIT Business Model Study
  A study of 1000 businesses and their business models in an effort to determine if some business models perform better than others
- My M&Ms
  A chocolate gifting innovation. Mars has shifted their old business model of commodity candy to personalizing and gifting chocolates
- Ember - an example of recurring revenue
  An energy monitoring chip product which leverages connected services to ensure recurring revenue
- Business Model Alchemist
  A blog dedicated to business models, business model innovation, and all the things that go along with your business model
- Edmunds
  An excellent example of an e-channel

Chapter 6: Positioning and Branding a Venture in the Marketplace

- What is Cloud Computing
  This Salesforce.com video explains what cloud computing is and how it could be positioned
- Why not what
  This TEDx talk, by Simon Sinek, explains how the way your consumers think will effect how you position your venture
- Smart Ways to Market & Position
  In this clip Matie Forleo explains smart ways to market service based companies
- Building a Brand Inside & Out
  This clip talks about how important it is to brand internally as externally
- Akrivis
  Akrivis, a venture discussed in the chapter, functionally positions themselves as ultrasensitive detection
- SFDC , ZOHO CRM, PipeDrive
  These three CRM (Customer Relationship Management) Software position themselves as “cloud” companies
- Njabini Apparel
  An example of social & emotional positioning
- MYSQL White Paper
  Compares companies in terms of e-commerce read/write transactions per second for 1,000 simultaneous users; and Web searches for pricing

Chapter 7: A Reality Check on the Venture Concept and the Business Model

- Field Observations with Fresh Eyes
  This clip explains what happens when you actually get out and conduct field research
- Focus Group Research
  This is an example of a focus group for a premium salad dressing
- SBA Business Reality Check
  The Small Business Administration’s advice on conducting a reality check and altering your plan if needed
- Lifeline
  Information on Lifeline’s Startup history
- www.adt.com
  See benchmark pricing for installations and ongoing monitoring
- Qualtrics & Survey Monkey
  These two websites are both excellent tools for conducting surveys.
- United States Census
  The United States Census website.� This website contains information on population, income, and many other useful facts

Chapter 8: Financial Sources for Startups and Corporate Ventures

- What Angels Want
  This video feature excerpts from Venture Summit West
- Barbra Corcoran's Angel Investor Checklist
  In this clip successful entrepreneur and investor Barbra Corcoran talks about her angel investor checklist!
- Understanding Venture Capital
  This 60 minute talk features Dana Mead, a Venture Capitalist, who talks about Understanding Venture Capital
- How Venture Capital Works
  In this clip Silicon Valley Bank and their panelists explain how Venture Capitalism works
- Accion USA
  A microfinance organization that offers small business loans up to $50,000 and credit and business advice to small business owners who cannot access traditional credit
- East Coast Angels
  A highly regarded collection of angel investors working out of New Hampshire and Northern Massachusetts that has placed more than $20 million into a number of startups
- The Funded
  This website carries the opinions of entrepreneurs who have worked with VC firms across the country
- Dow Jones Private Markets or www.bizcomps.com
  Paid data source with all types of granular detail about private company transactions
- Angel List
  Angel List is a place where startups can find investors as well as talent to join their team

Chapter 9: Projecting the Financial Performance and Requirements for the Venture

- How Do I Price My Product
  Pricing your product is a very difficult piece of building financials but this clip explains a few things that can help in this decision
- How Much Should I Pay Myself?
  Another challenging piece of a venture financials is deciding how much to pay yourself.� This Entrepreneur Magazine clip talks about roughly how much you should pay yourself
- Creating Your Startup Financials
  This piece gives an in-depth look at building financials
- The SEC
  The SEC’s� beginners guide to financial statements
- www.sagepub.com/meyer
  Visit the textbook’s companion website to view the online spreadsheets
- Estimating Startup Costs
  The U.S. Small Business Administration estimates what the costs of starting a business are, including one time and on-going costs
- How to Estimate Startup Costs
  Entrepreneur Magazine estimates what the costs of starting a business are
- How Investors Use Your Financial Statements
  Financial Write David R Evanson explains how investors use your financial statements

Chapter 10: Organizing the Venture Team

- Team Selection in a Startup
  In this piece Mark Jung from IGN talks about putting together the venture team
- Team Composition
  This clip talks about what is proven to be the best team composition is including size and function
- Tips for Hiring Your First Employee
  In this clip tips on how to hire your first employee are covered along with things to watch out for in the process
- Founding Team: Technical or Business Savvy?��
  This clip discusses the age old question: should a team be technical or business savvy?
- Customer Advisory Board
  Information to share best practices among Customer Advisory Board (CAB) practitioners, match companies embarking on Customer Advisory Council's with Customer Advisory experts, and promote Customer Advisory Boards as a proven method for increasing sales and customer loyalty in organizations worldwide
- www.iFreelance.com & www.coroflot.com
  These are websites for industrial designers who can help improve the look and feel of a new product, packaging, or systems.
- www.cofounderslab.com
  CoFoundersLab is a website to find co-founders or other talent to join your startup team
- www.guru.com
  Guru.com is a website for finding and hiring freelancers and managing projects online

Chapter 11: Writing the Business Plan

- Purpose of a Business Plan
  In this 1 minute clip Tom Byers talks about the purpose of a Business Plan
- Honda
  How Honda implements new technologies in existing cars
- How Investors View Innovation
  This clip explains how investors look at innovation. Make sure to think about this when you write your plan.
- Importance of a Business Plan to Raise Capital
  Although you should most likely not use this service- the reasons a plan is critical are accurate!
- USPTO
  United States Patent and Trademark Office. Official website for information on patents, trademarks, IP law and process
- Google Patents
  This is a place where you can simply search over 7 million US Patents
- Some Thoughts on Business Plans
  A Harvard Business Review Case with a framework for assessing new business opportunities and their business plans

Chapter 12: Making the Pitch

- Insights on Seeking Venture Capital
  Guy Kawasaki gives tips on seeking Venture Capital
- Tech Stars Demo Day - Libboo
  This is a pitch from TechStars Boston Demo day featuring Libboo.� This is an example of a great and engaging pitch
- PsychoSoft Pitch
  This is another example of a pitch from TechStars Boston for Psykosoft- this is an example of how to make a pitch that fits your personality
- Make a Great Pitch
  Guy Kawasaki talks about how entrepreneurs are always pitching, whether it is for talent, funding or customers.� He also talks about his 10, 20, 30 rule
- Guy Kawasaki Blog
  Guy Kawasaki’s blog. Guy is a noted observer of technology and a successful investor
- NVCA
  A website of boutique VC firms that specialize in consumer or industrial products
- The Funded
  This website carries the opinions of entrepreneurs who have worked with VC firms across the country
- How to Pitch VCs
  TechCrunch advice on how to pitch to VCs
- VC Term Sheet Lingo
  This blog explains many of the terms you will need to be familiar with if your pitch goes well!

Authors: Marc H. Meyer and Frederick G. Crane

Pub Date: January 2013

Pages: 448

Learn more about this book

Student Resources

Chapter Resources

Video Interviews

Chapter 1: Defining Your Industry Focus and the Type of Business You Want to Start

Chapter 2: Defining the Target Customer

Chapter 3: Defining the Needs of Target Customers

Chapter 4: Defining Solutions for Customers

Chapter 5: Defining the Business Model for a Venture

Chapter 6: Positioning and Branding a Venture in the Marketplace

Chapter 7: A Reality Check on the Venture Concept and the Business Model

Chapter 8: Financial Sources for Startups and Corporate Ventures

Chapter 9: Projecting the Financial Performance and Requirements for the Venture

Chapter 10: Organizing the Venture Team

Chapter 11: Writing the Business Plan

Chapter 12: Making the Pitch