Description: Venture Design is a thorough, integrative, yet experiential "cookbook" for designing a new venture. Each chapter is devoted to a particular decision. These decisions interconnect to form a complete venture design captured in a venture "simulation".
For each decision the book discusses: 1) the goal for the decision, 2) its theoretical foundations, 3) analytical tools that translate theory into practice, and 4) application of those tools to a single case carried throughout the text.
While the most visible output of the text is a business plan, the most valuable output is a spreadsheet simulation" of the venture. By the end of the book, readers have a set of interconnected spreadsheets that stretch from the demand curve for their product to the cash flow statements for the entire venture. Thus if they want to modify their strategy at any point in the future they can test it in the simulation (in minutes) before testing it in the real world. This kind of costless experimentation makes adaptation far more likely and the ultimate venture design more effective.
New to the Third Edition
* A 3 month Survey Analytics license for conducting conjoint surveys provides readers with the data they need to choose the product attributes and price that maximize venture profits
This is the most useful and exciting text in the area of entrepreneurship that I have read to date.
- David Audretsch
Ameritech Chair of Economic Development
University of Indiana
This is by far the best offering that I have seen in this field. Moreover, it is a first-rate management textbook with a solid theoretical underpinning, clear and precise definitions of concepts, and interesting and relevant examples.
- Michael Leiblein
Ohio State University
SurveyAnalytics Online Conjoint Analysis
Conjoint Analysis is the centerpiece of the venture design process, and SurveyAnalytics is the premiere provider of online conjoint analysis. It allows entrepreneurs to know the demand curve (amount that will sell at any given price) not just for the product as a whole, but for each of its features. So not only can you forecast demand, you can see how that forecast varies with choices you make about product attributes and price. For example, you can know that a $200 iDVD will sell 1 million units, while a $180 iDVD will sell 2 million units. Better still can know that increasing storage by 50 DVDs allows you to charge an additional $50. Really powerful stuff!
When Venture Design 1/e was published, SurveyAnalytics didn't exist. You can find old editions to understand how enormously complex and time consuming do-it-yourself conjoint is. I remember describing the process to my students on the first day of class, and one of them asked, "Why do we have to do all this? Do ALL entrepreneurs do this?" I answered, "No, they don't, but 60% of new firms fail by year 4. Do you really want to be like ALL entrepreneurs? Don't you think that giving up two years income and $80,000 tuition should make you different?"
SurveyAnalytics allows you to be different WITHOUT having to forego two years income and $80,000. Their software truly is turnkey. It allows you to enjoy the conjoint forest without having to get lost in the thicket of trees.
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