324 Pages 191 Color Illustrations
    by Routledge

    324 Pages 191 Color Illustrations
    by Routledge

    What are you waiting for?

    Whether you’re dreaming about starting a business, learning about entrepreneurship or on the brink of creating a new opportunity right now, don’t wait. Open this updated bestseller. Inside you’ll find everything you need, including:

    • a new and popular way to learn about and to practice entrepreneurship.
    • new practical exercises, questions and activities for each step in your process.
    • specific principles derived from the methods of expert entrepreneurs.
    • over seventy updated case briefs of entrepreneurs across industries, locations and time.
    • new applications to social entrepreneurship, technology and to large enterprises.
    • plentiful connections to current and foundational research in the field (Research Roots)
    • brand new chapter on "The Ask" - strategies for initiating the process of co-creating with partners
    • data that will challenge conventional entrepreneurship wisdom
    • a broader perspective on the science of entrepreneurship

    In this vibrant updated edition, you will find these ideas presented in the concise, modular, graphical form made popular in the first edition, perfect for those learning to be entrepreneurs or those already in the thick of things.

    If you want to learn about entrepreneurship in a way that emphasizes action, this new edition is vital reading. If you have already launched your entrepreneurial career and are looking for new perspectives, take the effectual entrepreneurship challenge! this book is for you. If you feel that you are no longer creating anything novel or valuable in your day job, and you’re wondering how to change things, this book is for you.

    Anyone using entrepreneurship to create the change they want to see in the world will find a wealth of thought-provoking material, expert advice and practical techniques in these pages and on the accompanying website: www.effectuation.org

    So, what are you waiting for?

    Part I: What We Know About Entrepreneurs and Entrepreneurship

    1. Roadmaps, Myths and the Bahamas 

    2. Good Ideas Are Everywhere 

    3. Most Ventures Require Little Startup Capital  4. Fail Cheap And Learn Quickly 

    5. The Plunge Doesn’t Have To Be A Plunge At All 

    Part II: How (Expert) Entrepreneurs Think 

    6. Prediction, Risk and Uncertainty  

    7. Opportunities Are Created As Well As Discovered  8. Managing Uncertainty Through Control 

    9. The Effectual Logic Of Expert Entrepreneurs 

    Part III: The Nuts And Bolts Of Venturing: Effectuation In Action 

    10.The Bird-In-Hand Principle: Start With What You Have 

    11. Transforming Means into Something Valuable 

    12. The Affordable Loss Principle: Risk Little, Fail Cheap 

    13. Using Slack for Bootstrap Financing 

    14. The Crazy Quilt Principle: Form Partnerships  

    15. Asking Potential Partners to Make Commitments  

    16. The Lemonade Principle: Leverage Surprise 

    17. Putting It Together: The Effectuation Process 

    Part IV: I Am An Entrepreneur Now: How Far Can I Go? 

    18. Ownership, Equity And Control: Manage Stakeholders 

    19. Business Plans and Business Models 

    20. The Venture Grows Up: Create an Entrepreneurial Culture 

    Part V: Applications of Effectuation 

    21. Brand as Venture Identity: Marketing You 

    22. Technology 

    23. Entrepreneurship As a Technology for Social Change 


    Directory of "Practically Speaking" Sections By Topic


    Stuart Read is a Professor of Strategic Management at the Atkinson School of Management, Willamette University.

    Saras Sarasvathy is the Isidore Horween Research Associate Professor at The Darden School of Business, University of Virginia.

    Nick Dew is an Associate Professor of Strategic Management at the Graduate School of Business and Public Policy, Naval Postgraduate School.

    Robert Wiltbank is the CEO of Galois, a software firm based in Portland, Oregon.

    Praise for the first edition:

    'Entrepreneurship is the most powerful tool we have for economic and social value creation and this book is destined to be recognized as the secret weapon all entrepreneurship educators have been waiting for! An accessible and comprehensive guide for all who aspire to both make and find opportunities. Bravo!' - Len Schlesinger, President, Babson College, USA

    'Both in form and content, this expansive volume captures the excitement of the entrepreneurial enterprise and the opportunities and challenges presented at each development cycle. Written by European and US academics, this volume is a great starting point to explore notions of innovation and entrepreneurial activity. Summing Up: Highly recommended. All levels of undergraduate students; practitioners; general readers.' - S. A. Schulman, CUNY Kingsborough Community College, CHOICE

    'A pragmatic, comprehensive book on entrepreneurship that talks about the key aspects and principles for establishing and sustaining a successful business' - Businessworld

    'This work has been absolutely instrumental in the development and continued growth of our company. We apply the 5 principles of effectuation everyday at Forgetful Gentleman. If you've ever thought of being an entrepreneur, this book will literally change your life.' - Nathan Tan, Co-Founder, Forgetful Gentleman, Darden MBA '09

    'An entrepreneurial blueprint for those who don't like blueprints. The authors have distilled the essence of entrepreneurship in a new and vital way. Anyone who wants to know what matters to the global and local economies of tomorrow should read this book.' - Jim Zuffoletti, Co-Founder of OpenQ

    'I knew that effectuation was a game changer as I witnessed my sixty MBA classmates fight and squirm to digest the material; this topic isn't for those wanting some gentle stretching - it's a majestic contrast to the typical MBA way of thinking. As someone who already exhibited entrepreneurial tendency, effectuation provided an indispensable framework that organized and explained my previously chaotic yet intrinsic style of thinking.' - Ian Ayers, Co-Founder of Nova Global, Founder of Happy Rickshaw and CTO of LightWind Energy