The third edition of this practical textbook provides an introduction to the world of new and emerging ventures and to the fundamentals of effective new venture management, including such diverse activities as planning, marketing, financing, and growth.

This textbook is divided into four distinct parts, guiding readers through the entire new venture management process and focusing in turn on ideas and opportunities, planning, finance, and management challenges. All chapters of this revised edition feature international cases, and the complete business plan has been replaced with a contemporary version. Other new elements to the third edition include:

• Expanded coverage of the Lean Startup methodology
• Improved focus on the development and importance of teams
• A new section on the emergence of equity crowdfunding
• Further discussion of ethics and the dangers of dramatic scaling

Presented in an easy-to-understand style, this book will be a valuable resource for undergraduate and postgraduate students in entrepreneurship and new venture management classes as well as active new venture owners and managers.

Online resources include an instructor's manual, test bank, PowerPoint slides, and additional materials to aid instructors and students in applying their knowledge.

Donald F. Kuratko is the Jack M. Gill Distinguished Chair of Entrepreneurship, Professor of Entrepreneurship, and Executive and Academic Director of the Johnson Center for Entrepreneurship & Innovation at the Kelley School of Business at Indiana University. He has authored over 200 articles and 30 books, including one of the leading entrepreneurship books in the world.

Jeffrey S. Hornsby is Executive Director of the Regnier Institute for Entrepreneurship and Innovation and Chair of the Department of Global Entrepreneurship and Innovation at the Bloch School of Management at the University of Missouri in Kansas City. He has authored or coauthored over 140 articles and five books on entrepreneurship, innovation, and human resource management topics.

Part 1: New Venture Opportunities

1. New Ventures: The Quite Giant

2. Ideation: The Concept

3. Venture Choices: The Pathways

Part 2: New Venture Development

4. Marketing: The Customer

5. Legal Considerations: The Parameters

6. Strategic Pricing: The Hook

Part 3: New Venture Finances

7. Startup Capital: The Injection

8. Financial Statements: The Scorecard

9. Financial Analysis: The Gauges

Part 4: New Venture Growth

10. HR and the Development of Teams: The People

11. Successful Business Plans: The Compass

12. Scaling Ventures: The Future