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Essentials of Entrepreneurship

Thinking & Action

David Standen, MBA

4.6

Based on 2,853 ratings

, see reviews

David Standen, MBA

Success in business can be greatly enhanced with an understanding of key entrepreneurial characteristics and competencies solutions. This interactive course provides potential entrepreneurs with the knowledge of succeeding in an entrepreneurial opportunity. Topics include: how creativity, opportunity and feasibility are best evaluated; business strategies for new businesses; importance of a business plan; achieving success in a new business. At the end of the course students will have the skills and confidence to evaluate starting a business, in addition to becoming more enterprising in how they approach their roles should they decide to work in organizations.

Upon completing this course, you will be able to:

1. Learn about the many faces of and contexts for entrepreneurship

2. Learn about the entrepreneurial process and how to manage it

3. Learn about what it takes to be an entrepreneur and your own potential to be one

4. Learn to recognize opportunities to generate and assess your own business idea

5. Explain the business planning process

6. Apply entrepreneurial approaches, concepts and methods to your own business idea

7. Learn about the operational issues in developing new business ventures

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What's inside

Syllabus

Introduction

Feasibility Studies

Skills and Strategies

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Provides foundational skills for succeeding as an entrepreneur

Taught by professionals with direct experience in entrepreneurial ventures

Promotes critical thinking and problem-solving in the context of entrepreneurship

Emphasizes the practical aspects of starting and managing a new business

Designed for individuals considering a career in entrepreneurship

Requires prerequisite knowledge in business concepts

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Reviews summary

Entrepreneurship essentials: foundation & mindset

According to learners, this course offers a solid introduction to the world of entrepreneurship, providing great foundational knowledge for beginners. Many found the instructor engaging and knowledgeable and the feasibility study module particularly helpful. Reviewers appreciate how the course breaks down complex ideas and covers essential concepts clearly. However, some learners felt the course was too theoretical and lacked sufficient practical depth for serious business planning or actionable 'how-to', potentially making it too basic for those with prior business experience. Opinions are divided on whether it provides enough guidance for actual doing versus just understanding concepts.

Views differ on practical vs academic focus.

"provides practical insights."

"Some parts were a bit theoretical, could have used more real-world examples..."

"Was expecting more actionable advice. Felt very academic and theoretical."

"Better for understanding concepts than actual doing."

"lacks practical depth."

"Too much focus on theory, not enough practical 'how-to'."

"More academic than actionable."

Feasibility study module stands out.

"The feasibility study module was particularly helpful."

"Covered key concepts like opportunity recognition and business planning."

"Useful introduction, especially the section on feasibility studies."

Instructor is knowledgeable and inspiring.

"Dr. T is engaging and provides practical insights."

"The instructor is knowledgeable and easy to follow."

"The instructor is very good."

"The instructor is inspiring."

Highly recommended for newcomers.

"Highly recommend for anyone considering starting a business."

"Perfect for beginners! It breaks down complex ideas."

"Strongly recommend for anyone new to entrepreneurship."

"Worth taking if you're curious about entrepreneurship."

Provides a strong introduction to basics.

"A fantastic course! ...covers the essentials clearly."

"Good introduction to entrepreneurship. Covered key concepts..."

"Excellent overview."

"Truly essential knowledge presented clearly."

"Solid foundation course. It covers the core areas..."

"Perfect for beginners! It breaks down complex ideas..."

"Useful introduction..."

"Great foundational knowledge."

Less detail on operational aspects.

"I wish there was more on the operational aspects, which felt a bit rushed..."

"you'll need other resources for detailed business planning or operational guidance."

May be too basic for experienced learners.

"If you already have some business background, it might feel too basic."

"It's a good starting point but not enough depth for serious planning."

"lacks practical depth."

"you'll need other resources for detailed business planning or operational guidance."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Essentials of Entrepreneurship: Thinking & Action with these activities:

Read 'The Lean Startup' by Eric Ries

Show steps

This book provides insights and emphasizes the importance of validation, which is crucial for succeeding entrepreneurs.

View The Lean Startup: How Today's Entrepreneurs Use... on Amazon

Show steps

Read the book thoroughly, taking notes of key concepts and examples.
Identify the most important entrepreneurial principles and how they can be applied to your business ideas
Summarize the key takeaways and their relevance to your entrepreneurial journey.

Identify Opportunities for Innovation and Business Development

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This activity challenges you to think creatively and identify potential opportunities for starting a business or expanding your existing one.

Browse courses on Entrepreneurship

Show steps

Familiarize yourself with different ideation techniques like brainstorming, mind mapping, or SWOT analysis.
Conduct market research to identify unmet needs, emerging trends, or gaps in the industry.
Evaluate potential opportunities based on their feasibility, market size, and competitive landscape.
Develop a shortlist of promising ideas and create a plan for further exploration.

Participate in Virtual Study Groups or Discussions

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Engaging with peers allows for sharing knowledge, diverse perspectives, and support throughout your entrepreneurial journey.

Browse courses on Entrepreneurship

Show steps

Connect with fellow course participants or join online forums dedicated to entrepreneurship.
Participate actively in discussions, sharing your insights and experiences.
Seek input and feedback from others on your business ideas and challenges.
Collaborate on projects or assignments, leveraging the collective knowledge and skills of the group.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Explore Case Studies of Successful Entrepreneurs and Startups

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These case studies provide real-world examples and lessons learned from entrepreneurs who have successfully navigated the challenges of starting and growing businesses.

Browse courses on Entrepreneurship

Show steps

Identify reputable sources for case studies, such as business journals, industry reports, or university research papers.
Select case studies that are relevant to your business interests and goals.
Analyze the case studies, paying attention to the challenges, strategies, and outcomes.
Extract key lessons and insights that can be applied to your own entrepreneurial endeavors.

Develop a Business Plan for a New Venture

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This activity allows you to apply the entrepreneurial concepts learned in the course and practice essential business planning skills.

Browse courses on Business Planning

Show steps

Brainstorm and select a business idea that aligns with the course principles and your interests.
Research the market, identify your target audience, and define your competitive advantage.
Develop a detailed plan outlining your business model, marketing strategies, operations, and financial projections.
Seek feedback on your plan from mentors, investors, or experienced entrepreneurs.

Participate in Business Plan Competitions or Startup Pitches

Show steps

Participating in competitions provides a valuable platform to test your business ideas, receive feedback from experts, and potentially gain recognition or funding.

Browse courses on Entrepreneurship

Show steps

Identify and research business plan competitions or startup pitch events that align with your interests.
Develop a compelling business plan or pitch deck that showcases your innovative idea and its potential.
Practice your presentation and prepare to answer questions from judges or investors.
Network with other entrepreneurs, mentors, and potential investors at the event.

Launch a Small-Scale Business or Side Project

Show steps

This hands-on experience allows you to apply your knowledge, test your ideas, and gain practical insights into the challenges and rewards of starting a business.

Browse courses on Entrepreneurship

Show steps

Identify a business idea that is feasible, has market potential, and aligns with your skills and interests.
Create a detailed business plan outlining your strategy, operations, marketing, and financial projections.
Secure funding through personal savings, investors, or crowdfunding platforms.
Launch your business, manage its operations, and monitor its performance.
Reflect on your experiences, identify areas for improvement, and consider expanding your business or starting new ventures.

Career center

Learners who complete Essentials of Entrepreneurship: Thinking & Action will develop knowledge and skills that may be useful to these careers:

Entrepreneur

Entrepreneurs are individuals who create and manage their own businesses. They are responsible for all aspects of their business, from developing the initial idea to marketing and sales. This course is a great fit for those who want to start their own business or who want to learn more about entrepreneurship. The course will provide you with the knowledge and skills you need to succeed as an entrepreneur, including how to identify opportunities, develop a business plan, and raise capital. The course will also help you develop the mindset and skills you need to be successful in business, such as creativity, innovation, and risk-taking.

See salaries and explore the career path for Entrepreneur

Business Consultant

Business Consultants help businesses improve their performance. They may work with businesses of all sizes, from small startups to large corporations. Business Consultants may specialize in a particular area, such as marketing, finance, or operations. This course is a great fit for those who want to work as a Business Consultant. The course will provide you with the knowledge and skills you need to succeed as a Business Consultant, including how to analyze businesses, develop recommendations, and implement solutions.

See salaries and explore the career path for Business Consultant

Product Manager

Product Managers are responsible for the development and management of products. They work with engineers, designers, and marketers to create products that meet the needs of customers. Product Managers may work in a variety of industries, including technology, consumer goods, and healthcare. This course is a great fit for those who want to work as a Product Manager. The course will provide you with the knowledge and skills you need to succeed as a Product Manager, including how to identify customer needs, develop product specifications, and manage product development.

See salaries and explore the career path for Product Manager

Marketing Manager

Marketing Managers are responsible for the development and implementation of marketing campaigns. They work with sales teams, product managers, and other stakeholders to create marketing campaigns that reach the target audience and achieve business goals. Marketing Managers may work in a variety of industries, including technology, consumer goods, and healthcare. This course is a great fit for those who want to work as a Marketing Manager. The course will provide you with the knowledge and skills you need to succeed as a Marketing Manager, including how to develop marketing plans, conduct market research, and manage marketing budgets.

See salaries and explore the career path for Marketing Manager

Sales Manager

Sales Managers are responsible for the development and implementation of sales strategies. They work with sales teams to achieve sales goals and objectives. Sales Managers may work in a variety of industries, including technology, consumer goods, and healthcare. This course is a great fit for those who want to work as a Sales Manager. The course will provide you with the knowledge and skills you need to succeed as a Sales Manager, including how to develop sales plans, manage sales teams, and close deals.

See salaries and explore the career path for Sales Manager

Operations Manager

Operations Managers are responsible for the day-to-day operations of a business. They work with employees to ensure that the business runs smoothly and efficiently. Operations Managers may work in a variety of industries, including manufacturing, retail, and healthcare. This course is a great fit for those who want to work as an Operations Manager. The course will provide you with the knowledge and skills you need to succeed as an Operations Manager, including how to manage employees, optimize processes, and reduce costs.

See salaries and explore the career path for Operations Manager

Financial Analyst

Financial Analysts provide financial advice to businesses and individuals. They may work with businesses to develop financial plans, raise capital, and make investment decisions. Financial Analysts may also work with individuals to manage their personal finances. This course is a great fit for those who want to work as a Financial Analyst. The course will provide you with the knowledge and skills you need to succeed as a Financial Analyst, including how to analyze financial statements, develop financial models, and make investment recommendations.

See salaries and explore the career path for Financial Analyst

Accountant

Accountants are responsible for recording and reporting financial information. They may work with businesses of all sizes, from small startups to large corporations. Accountants may specialize in a particular area, such as tax accounting or auditing. This course is a great fit for those who want to work as an Accountant. The course will provide you with the knowledge and skills you need to succeed as an Accountant, including how to record financial transactions, prepare financial statements, and comply with tax laws.

See salaries and explore the career path for Accountant

Lawyer

Lawyers advise clients on legal matters and represent them in court. They may specialize in a particular area of law, such as criminal law, corporate law, or family law. This course may be useful for those who want to work as a Lawyer. The course will provide you with a foundation in legal principles and concepts, which will be helpful for understanding the law and how it applies to different situations.

See salaries and explore the career path for Lawyer

Doctor

Doctors diagnose and treat illnesses and injuries. They may specialize in a particular area of medicine, such as family medicine, pediatrics, or surgery. This course may be useful for those who want to work as a Doctor. The course will provide you with a foundation in medical principles and concepts, which will be helpful for understanding the human body and how to treat illnesses and injuries.

See salaries and explore the career path for Doctor

Teacher

Teachers educate students at all levels, from preschool to college. They may specialize in a particular subject area, such as math, science, or English. This course may be useful for those who want to work as a Teacher. The course will provide you with a foundation in educational principles and concepts, which will be helpful for understanding how children learn and how to teach effectively.

See salaries and explore the career path for Teacher

Social Worker

Social Workers help people cope with difficult life situations, such as poverty, illness, and addiction. They may work with individuals, families, or groups. This course may be useful for those who want to work as a Social Worker. The course will provide you with a foundation in social work principles and concepts, which will be helpful for understanding the challenges that people face and how to help them cope.

See salaries and explore the career path for Social Worker

Police Officer

Police Officers enforce the law and protect the public. They may work in a variety of settings, such as patrol, traffic enforcement, or investigations. This course may be useful for those who want to work as a Police Officer. The course will provide you with a foundation in law enforcement principles and concepts, which will be helpful for understanding the law and how to enforce it.

See salaries and explore the career path for Police Officer

Firefighter

Firefighters protect the public from fires and other emergencies. They may work in a variety of settings, such as urban, rural, or wildland. This course may be useful for those who want to work as a Firefighter. The course will provide you with a foundation in firefighting principles and concepts, which will be helpful for understanding fire behavior and how to fight fires.

See salaries and explore the career path for Firefighter

Paramedic

Paramedics provide emergency medical care to patients. They may work in a variety of settings, such as ambulances, fire trucks, or hospitals. This course may be useful for those who want to work as a Paramedic. The course will provide you with a foundation in emergency medical principles and concepts, which will be helpful for understanding how to assess and treat patients in emergency situations.

See salaries and explore the career path for Paramedic

Reading list

We've selected 15 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Essentials of Entrepreneurship: Thinking & Action.

Entrepreneurship

Save

This comprehensive textbook covers all the essential topics of entrepreneurship, including the entrepreneurial process, opportunity recognition, and business planning. It valuable resource for both aspiring and experienced entrepreneurs.

Loose-Leaf for Entrepreneurship

Loose Leaf

$$$

Entrepreneurship, 11th edition

Paperback

Connect 1-Semester Access Card for Entrepreneurship

Misc. Supplies

Entrepreneurship with Online Learning Center access...

Entrepreneurship with OLC/PowerWeb card

Hardcover

The Lean Startup

Save

This bestselling book provides a practical guide to building a successful startup using the lean methodology. It emphasizes the importance of customer feedback, iteration, and testing.

The Lean Startup: How Today's Entrepreneurs Use...

Hardcover

(Español) El método Lean Startup: Cómo crear empresas de...

Paperback

The Startup Way: How Modern Companies Use...

Hardcover

The Leader's Guide

Audible Audiobook

(Español) El camino hacia el Lean Startup: Cómo aprovechar la...