Pages: 12

This chapter introduces the concept of creative entrepreneurship for makers, and associated motivations and mindsets. It clarifies that the use of the term “maker” throughout the book refers to artists, artisans, designers, and others whose primary form of expression is through the making of goods and/or services. This chapter also underscores the importance of entrepreneurial thinking considering current and developing technologies as both assets and threats to makers; an entrepreneurial mindset is a lifelong tool to adjust to change and embrace new opportunities.

Pages: 18

This chapter deals with developing and disrupting potential venture concepts through divergent and convergent thinking and activities. It reviews the basics of a business model to define a Unique Value Proposition, the value of business modeling through different canvas examples, and a selection of “plug and play” business models that have been successfully employed in creative ventures. This chapter also introduces basics of primary market research including investigating exemplars and competitors and potential value of secondary research tools for market and industry sector data and trends.

Pages: 18

This chapter introduces tools and frameworks used to analyze the external business environment and identify key opportunities and competitive vulnerabilities. It will define Competitive Advantage and introduce the traditional and contemporary strategies used to pursue competitive advantage (Broad vs. Niche, Low Cost vs. Differentiation, Blue Ocean Strategy). Readers will learn to use a Porter’s Five Forces Analysis to understand how competitive pressures shape the business environment and will be introduced to the BCG and Ansoff Matrices, tools for planning product growth strategy.

Pages: 10

This chapter focuses on the value of understanding target markets and the importance of end-user empathy to solve for pain/gain. Benefits and features are connected to this content. Creative entrepreneurs can neglect to consider the end user for market testing; this chapter underscores the value of identifying the appropriate target market and developing a “Minimum Viable Product” (aka, a prototype) to develop market testing tools and systems for developing questions, gathering information, and integrating gained knowledge into venture design. The concept and process of Design Thinking are embedded in this chapter.

Pages: 19

This chapter outlines the processes used to build a brand identity and marketing plan. It introduces Positioning Map exercises and breaks down the components of a unique value proposition. Readers learn how to consider their audience’s wants, fears, and beliefs and use this information to craft a compelling and consistent brand identity. This chapter explains the customer decision-making process and teaches readers to create marketing and distribution plans that align with this process.

Pages: 18

This chapter teaches readers the principles and practices needed to effectively assess a business’s financial viability. Readers will learn how to conduct a unit economics analysis and a breakeven analysis, which are essential for understanding the financial health of a business model and making data-driven decisions. This chapter also outlines key questions to explore when setting prices, focusing on the concepts of perceived value and price positioning.

Pages: 17

This chapter teaches readers the principles and practices needed to effectively manage a small business’s finances. Readers will learn how to read and interpret the three basic financial statements (Income Statement, Statement of Cash Flows, Balance Sheet). This chapter will also address sources of business funding including investor capital, business loans, bootstrapping, crowdfunding, and grants.

Pages: 15

This chapter uses the Porter’s Value Chain Framework to help the reader inventory and analyze the tasks necessary to maintain business operations. It addresses the efficiency vs. effectiveness trade-off and explores the role of efficiency within the creative process. Key management considerations will also be addressed, including legal business structures, when and how to outsource tasks, and how to protect physical and intellectual assets. Issues of sustainability will be addressed in this chapter.

Pages: 16

This chapter explores the process of planning, implementing, and evaluating short-term and long-term business objectives and goals. It begins with using the PESTLE framework for examining external factors influencing the business environment and continues on to outline three common tools for a situational analysis of the business: SWOT, TOWS, and SOAR. It focuses on using situational analysis to develop goals and SMART objectives for taking business action, and how to select and track key performance indicators to measure success and challenges. This chapter uses examples and mini cases to share how a variety of creative entrepreneurs observe and act upon trends and plan for the future.

Pages: 65

This chapter includes 10 case studies. We interviewed the owners of 10 maker and creative businesses to learn more about their entrepreneurial journeys, challenges, and successes. These cases help to illustrate concepts from Chapters 1 through 9 and provide readers with the opportunity to discuss real-world examples of creative businesses in action. Each case includes reflection questions and additional recommended reading, viewing, or listening.