I require this text in my graduate New Venture course at Western Michigan University. The real life cases and fundamental concepts covered provide a great foundation for New Venture teaching. I also require my start-up consulting clients to read Chpt 1,2 & 3 along with the case study "R&R". Good way to find out if they have what it takes. I first used and enjoyed this book from the other side of the class during my MBA studies at the GSB - University of Chicago.

The Origin and Evolution of New Businesses When Jann Wenner launched Rolling Stone magazine, he did no market research and considered himself merely an "amateur journalist." When Bill Gates and Paul Allen started Microsoft, they had no business plan, only a brainstorm that they should write a program in the BASIC computer language. Such seat-of-the pants planning is typical among entrepreneurs, says author Amar Bhide. Successful entrepreneurs don't need unique ideas and long resumes, Bhide writes. Rather, they must be able to adapt quickly to changing business conditions, and they must enter industries in a state of upheaval, where established players are lacking. Bhide offers a revealing look at the characteristics that make for successful start-ups. In spite of his often-dense prose, Bhide gives plenty of real-world examples to illustrate his concepts. We [...] recommend this book to entrepreneurs and to those thinking of starting their own companies.

When Bill Gates and Paul Allen started Microsoft, they had no business plan, only a brainstorm that they should write a program in the BASIC computer language. Such seat-of-the pants planning is typical among entrepreneurs, says author Amar Bhide. Successful entrepreneurs don't need unique ideas and long resumes, he writes. Rather, they must be able to adapt quickly to changing business conditions, and they must enter industries in a state of shake, where established players are lacking.

I'd strongly recommend this book to entrepreneurs and to those thinking of starting their own companies. But this is not a "how to get-rich-quick" series book on how to start and grow a new business. This bright analytical work sets a new standard for books about entrepreneurship. Professor Bhide offers a revealing look at the characteristics that make for successful start-ups, and also gives plenty of real world examples to illustrate his concepts.

This book provides both valuable practical insights for someone considering a new business and concise conceptual frameworks for those with an academic bent on the subject. Bhide makes excellent use of data to support his assertions, and this gives the book its academic flavor. But he also brings the subject alive with real world evidence and anecdotes. For example, he points to data that shows many entrepreneurs lack credentials one might expect to begin a successful business. He then explains a rational basis for the low credential (not to be confused with low skill) level of many entrepreneurs: that their opportunity cost is low because they "don't have the credentials and experience that could secure them highly paid employment." Hence they have less to lose. "[I]ndividuals who face high opportunity costs...usually do not start small, boot-strapped ventures." Entrepreneurs often even avoid the emotional costs of quitting satisfactory jobs. He then provides the entertaining quote of John Mineck who started Practice Management Systems in 1982 while still employed by the Personal Care Division of Gillete, Inc.: "You could do something on the side very easily; they seemed to discourage hard work."

But the book is by no means all humorous anecdote. It has heavy data, with charts and graphs that are not simply conceptual in nature, but quite empirical. Overall an excellent text for both the intellectually curious and the entrepreneurially inspired.

The 1999 edition that I read is a collection of 34 Harvard Business Review articles, class discussion papers and case studies written by the four authors (all business school professors) and a few others over the 1980s and 90s.

The chapters written by the four professors have a strong academic/pedagogic orientation. Dealing with basic issues in extreme analytic detail, they frequently belabor the obvious and often come across as though they have all the answers (chapters written by Sahlman were especially bad for this). The book does, however, provide some thought-provoking discussion and a reasonable introduction to the issues of assessing viability, planning and managing a new business, and of attracting resources. Some of the chapters not written by the professors provide a good "textbook" reference for subjects such as patent law, raising venture capital, and management technique in checklist style.

I give the book three stars for its rigorous analysis but not five because of its presumptuous tone and the fact that too many of the chapters lean toward the hypothetical. It lacks the genuine, practitioner-based input this subject deserves.

Sahlman provides a very comprehensive volume on the current stage of knowledge of entrepreneurship as a field. In the articles, which are mainly written by a limited number of professors, all important topics related to entrepreneurship are addressed, such as finance, personality, marketing, strategy, culture, and many more. From an academic perspective, it is a 10.

However, I often felt that it was missing more on the practical side. For example, there are a few case studies, but only on certain topics. It was missing more of the "been there, done that" perspective. Definitely there were stories, but in those there was more of a strategic analysis rather than visionary or inspirational.

Overall, this is a very good book to use as reference to certain topics, especially in an academic environment.

As an MBA student at Harvard six years ago, I had the opportunity to learn under Professor Sahlman. His class and his books are worth their weight in gold if you intend to either start companies or invest in them. This book brings together some of the best ideas from his colleagues.

This book is a collection of easy to read articles by eminent faculty as well as venture capitalists teaching and supporting entrepreneurship.

These articles offer an insight into the problems faced by a start-up as well as methods to prioritize their activities. It does offer ideas to entrepreneurs to manage and grow a start-up.

Overall a good collection of articles with some very contrasting schools of thought.

I found the articles light and easy to read, yet interesting enough to keep me up in bed. Also, very informative. Good selection of case studies on topic. As good as HBR Effective Communication