This case is designed to train students to recognize the characteristics of entrepreneurial thinking. The author studied the problem-solving process of 30 entrepreneurs from a variety of industries whose companies ranged in value from $200 million to $6.5 billion. Careful analysis revealed a distinct thought process which has been termed "effectual reasoning." The way in which entrepreneurs factor in affordable loss, strategic partnerships, and l...

Entrepreneurs strive to solve problems and create value through partnerships. Studying how they do that led to the hypothesis that “asking” played a critical role in the success of an entrepreneur. This note addresses studies of expert entrepreneurs and how they differ from novice entrepreneurs, including discussion on type, method, and frequency of asking, as well as effectual reasoning.

Jeffrey Offutt had overcome many hardships and personal difficulties to better himself and build his own graphic-design and corporate-printing business: Jita Printing. Just as it seemed his efforts had begun to pay off in the form of steady work and a loyal clientele, Offutt was hit with two problems. First, designing and printing marketing materials for a small local theater had started as a quick, small undertaking for deeply discounted price...

Teaching Note for Product ENT-0195