ESBM 3700: Entrepreneurial Environments€¦ · ESBM 3700: Entrepreneurial Environments 1 ESBM 3700: Entrepreneurial Environments Fall 2010 Course Syllabus _____ Instructor: Jeff

ESBM 3700: Entrepreneurial Environments

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ESBM 3700: Entrepreneurial Environments Fall 2010 Course Syllabus

______________________________________________________________________________ Instructor: Jeff York, Assistant Professor of Management and Entrepreneurship Office: 405 Leeds School of Business Office Hours: Tuesday and Thursday, 10:30-12:30, or by appointment Contact: Email: [email protected] Phone: 303-492-3783 Skype: jeffyork72

Class Information: Section 001:Tuesdays and Thursdays, 2:00-3:15 PM, Koelbel 330 Section 002:Tuesdays and Thursdays, 3:30-4:45 PM, Koelbel 330 ______________________________________________________________________________

“We have come to think of the actual as one among many possible worlds. We

need to repaint that picture. All possible worlds lie within the actual one.” N. Goodman, 1978

COURSE INTRODUCTION This course provides students with an introduction to the entrepreneurial process. It exposes you to the concepts, practices, and tools of the entrepreneurial world. This will be accomplished through a combination of readings, cases, speakers, and field projects designed to convey the unique environment of entrepreneurship and new ventures. The most effective way to understand entrepreneurship is to practice it. This course takes an experiential approach and students are expected to interact with the business community, participate in class discussion, and be active participants in the teaching/learning process. The class will be highly interactive and your engaged participation and presence will be required. LEARNING OBJECTIVES Upon completion of this course, you will be able to better assess your own potential and interest in becoming an entrepreneur and you will gain knowledge on the following topics:

! How to recognize and evaluate new venture opportunities ! The issues faced by entrepreneurs when starting a venture ! The fundamental skills and tools required for starting and growing a new business ! The difference between an opportunity and an idea ! Value proposition and how it applies to a new venture ! The need for sustainable competitive advantage ! The methods for estimating profitability of a new venture ! Assessing your potential and interest in becoming an entrepreneur


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REQUIRED COURSE MATERIALS

• Readings available at culearn.colorado.edu • Sarasvathy et al., 2010, Effectual Entrepreeneurship, Available at culearn.colorado.edu • Schendler, Getting Green Done, Public Affairs, 2010 • Mullins & Komisar, 2009, Getting to Plan B, Harvard Business Press. • Assigned articles & HBS cases: http://cb.hbsp.harvard.edu/cb/access/6513287 • i>clicker remote

COURSE DELIVERABLES Grades will be cumulative between individual efforts and group efforts distributed as follows: Individual Grading (50% of Total Grade)

1. Class Participation and Engagement in Learning (25%)

Quality class participation is reflected in your insight and contribution to the class discussion of cases and concepts. You should be able to support your points with structured arguments and engage in robust debate. Here are some thoughts to guide your participation:

• Did you deliver in class assignments? • Are your points relevant to the discussion, or are they detracting from it? • Does your point reflect preparation and careful consideration of the day’s

assignment? • Are you stating a unique perspective, or simply rephrasing the comments of

another participant? • Are you clear in articulating your point? • Does your style demonstrate empathy for other perspectives?

A strong participation grade should be a “gimme”. Poor grades on this dimension will be given to those who have unexcused absences, are late to class, or rarely speak. If you have questions, or are very shy about participating in discussion, please see me and we’ll find a solution.

2. Entrepreneur Interview (10%)

You need to interview an actual entrepreneur for this assignment. Logically, the best way you can do this assignment is to find an entrepreneur who is relevant for your particular interests and/or the opportunity you are assessing. Besides whatever information/relationship you may need for your future business, you also need to understand this entrepreneur in terms of his or her entrepreneurial experience and do a separate write-up (3 to 5 pages) on it. Please include an overview of their business, how they came to start the business, their background, issues they’ve confronted starting the business, how they assess both the economic and social impact of their business and contact information for the entrepreneur. This essay is due 9/30/10.


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3. Peer Evaluation (5%)

In your group assignment, you will be evaluated by each of your teammates for your participation. Your grade will be based on a ranking of 1-5 (5 being the best score, 1 being the worst) on each of the following factors:

a. Hard Work – Did this person pull their share of the load? Were they at meetings,

prompt with their deliverables, and deliver high-caliber work? b. Leadership – Did they help make the important decisions? Did they contribute

their own ideas and help mold the project? c. Collaboration – Was this person a team player? Did they ask for help when they

needed it and offer help to others?

Part of being an entrepreneur is differentiating partner and employee performance. If everybody on your team gives everybody else a 5 on all categories, I will not be impressed, and each team member will receive a 3. Evaluations are due 12/14/10.

4. Written Test(s) (10%)

One or more tests may be given, covering concepts in the required reading, or presented in class. This will not be lengthy “exams” but will test your ability to recall and apply basic concepts from the course.

Group Grades (50% of Total Grade) All group grades will be deliverables towards completing a feasibility study for a new product or service. This need not be a for-profit opportunity, as the process will be the same for assessing the feasibility of a social venture. Each deliverable will include both a written piece and Power Point slides. The team should be prepared to make a 5-minute presentation for each deliverable in class, with an additional 5-minutes for Q&A.

5. Market Opportunity Analysis Presentation and Report (10%) Teams will present an analysis of the market for their idea. Further details will be given for the assignment, but at a high level it will include an assessment of the overall market for the product or service, societal and regulatory trends that might affect the feasibility of the idea, and a competitor analysis. This analysis should include your revenue model and is due 10/7/10.

6. Business Model Presentation and Report (15%) Each team will present the business model for their idea, attempting to demonstrate the financial feasibility of the venture. This analysis should include the gross margin and operating model for the business and is due 11/9/10.


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7. Feasibility Study Presentation and Report (25%)

The Feasibility Study is the cumulative effort of the class and should include your working capital and investment model. All feedback received on other group assignments should be incorporated. The studies will be presented in “venture fair” competition and judged by a panel of entrepreneurs, investors, and academics. This analysis is due 12/7/10. Special Event: In addition to the in class presentation of your feasibility study, for those whom chose to explore retail opportunities for Boulder, there is an additional competition, sponsored by Downtown Boulder (http://www.boulderdowntown.com/) which features prize money for the top finishers. Details to follow; participation in this event WILL NOT affect your grade.

COURSE EXPECTATIONS

1) Preparation – All success is built on a foundation of hard work; I will cold call on students and if you are unprepared, this will impact your participation grade. Late work will not be accepted.

2) Planning - Research has demonstrated that the act of planning is key for

entrepreneurial success, and it is for your success in this class. Do not procrastinate or you will not do well. The nature of the group work is cumulative and poor work early on will make the deliverables much more difficult later on.

3) Collaboration – Entrepreneurship requires the ability to work with other

stakeholders, including the community, investors, partners, suppliers and employees. You must be willing to actively collaborate with others to excel in this class.

4) Creativity – Entrepreneurship requires the ability to see what others do not. If

opportunities were clear to everyone, they would not be opportunities. To succeed, you must engage your creative side, and remain open to challenging your currents assumptions and beliefs.

Expectations for the course are simple. You are expected to attend all classes, participate in every class discussion and to be respectful of your fellow students and their ideas. In addition, you will be exposed to a variety of new business ideas and concepts. In the spirit of the Honor Code, you are expected to keep those new ideas confidential, and not share them outside the class without permission.


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CU POLICIES AND RULES OF CONDUCT Honor Code. All students of the University of Colorado at Boulder are responsible for knowing and adhering to the academic integrity policy of the university. Violations of this policy may include cheating, plagiarism, aid of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of academic misconduct shall be reported to the Honor Code Council (http://[email protected]; 303-725-2273). Students who are found to be in violation of the academic integrity policy will be subject to both academic sanctions from the faculty member and non-academic sanctions (including, but not limited to, university probation, suspension, or expulsion). Other information on the Honor Code can be found at http://www.colorado.edu/policies/honor.html and at http://www.colorado.edu/academics/honorcode/ Disabilities. If you qualify for accommodations because of a disability, please provide me with a letter from Disability Services in a timely manner so that your needs may be addressed. Disability Services determines accommodations based on documented disabilities. Contact: 303-492-8671, Willard 322, and http://www.Colorado.EDU/disabilityservices. Religious Observances. Campus policy regarding religious observances requires that faculty make every effort to reasonably and fairly deal with all students who, because of religious obligations, have conflicts with scheduled exams, assignments or required attendance. Please let me know at the beginning of the semester that you will miss class because of religious observance so that appropriate accommodations can be made. See full details at http://www.colorado.edu/policies/fac_relig.html Discrimination and Harassment. The University of Colorado at Boulder policy on Discrimination and Harassment, the University of Colorado policy on Sexual Harassment and the University of Colorado policy on Amorous Relationships apply to all students, staff and faculty. Any student, staff or faculty member who believes s/he has been the subject of discrimination or harassment based upon race, color, national origin, sex, age, disability, religion, sexual orientation, or veteran status should contact the Office of Discrimination and Harassment (ODH) at 303-492-2127 or the Office of Judicial Affairs at 303-492-5550. Information about the ODH, the above referenced policies and the campus resources available to assist individuals regarding discrimination or harassment can be obtained at http://www.colorado.edu/odh Classroom Behavior. Students and faculty each have responsibility for maintaining an appropriate learning environment. Those who fail to adhere to such behavioral standards may be subject to discipline. Professional courtesy and sensitivity are especially important with respect to individuals and topics dealing with differences of race, culture, religion, politics, sexual orientation, gender, gender variance, and nationalities. Class rosters are provided to the instructor with the student's legal name. I will gladly honor your request to address you by an alternate name or gender pronoun. Please advise me of this preference early in the semester so that I may make appropriate changes to my records. See polices at http://www.colorado.edu/policies/classbehavior.html and at http://www.colorado.edu/studentaffairs/judicialaffairs/code.html#student_code


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Maximum Section GPA Policy. The faculty of the Leeds School has recently mandated the following maximum grade point average (GPA) for each Leeds course section taught, where: A=4.0, A-=3.7, B+=3.3, B=3.0, B-=2.7, C+=2.4, C=2.0, C-=2.7, D+=1.3, D=1.0, D-=0.7, F=0.0.

Course Level Maximum Section GPA

1000 and 2000 2.5 – C+ 3000 2.8 – B- 4000 3.0 – B 5000 3.2 – B / B+

6000 & MBA Core 3.4 – B+ MBA Electives 3.6 – B+/ A-

For more information see: http://www.youtube.com/watch?v=hrbn9pLnBik


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ESBM 3700: Course Calendar Overview (Subject to revision as necessary) Date Topic Assignment

8/24/10 Introductions,

Syllabus Review, Q&A

Read the class syllabus and overview Read “Note to the Student: How to Study and Discuss Cases” (UV0116) Read the Introduction in Effectual Entrepreneurship Be prepared to briefly introduce yourself and explain your interest in the class

8/26/10 The Nature of Entrepreneurial Opportunity

Read Chapter 1 and 9 in Effectual Entrepreneurship Read “Business Concept Assessment” (Moyes & Lawrence) Read “Climate Change 2007: Synthesis Report” (IPCC) Read “RATING ENVIRONMENTAL PERFORMANCE IN THE BUILDING INDUSTRY: LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN (LEED®)” (UVA- Forthcoming) Read “Innovating for Better Buildings” (Walsh, Urban & Herkel)

8/31/10

Presenting an Entrepreneurial Opportunity

Prepare a 1-minute “elevator pitch” and poster for an opportunity including: • What is the product or service? • Who will buy it? • Why will they buy it from you?

9/2/10 Presenting an

Entrepreneurial Opportunity (Cont.)

Form teams (no less than 3 members, no more than 5) and notify me of each team’s members via email no later than Monday, 9/6, 1 PM


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Date Topic Assignment

9/7/10 Guest Speakers • Trent Yang

from the Deming Center

• Sean Maher and Doug Melroy from Downtown Boulder

- Check out www.downtownboulder.com Read Chapter 2 in Effectual Entrepreneurship Be prepared to assess opportunities with your team by:

• Is it doable? • Can we do it? • Is it worth doing? • Do we want to do it?

Notify me ASAP via email if you want to work on one of the opportunities presented in class; 1 team per opportunity, first come, first serve!

9/9/10 Discussion of Environmental Opportunities w. Auden Schendler

Read the Preface, Chapters 1, 3 & 8 in Getting Green Done Read this article at Business Week: http://www.businessweek.com/magazine/content/07_44/b4056001.htm or listen to the podcast at: http://www.businessweek.com/mediacenter/qt/podcasts/cover_stories/covercast_10_18_07.mp3 Prepare and turn in 1 page analysis of “Getting Green Done” from an entrepreneurial opportunity perspective, including 3 questions for Auden

9/14/10 Market Opportunity Analysis (MOA) INDEPENDENT TEAMWORK – Professor York Traveling

Read Chapter 3 in Effectual Entrepreneurship Read “Feasibility Assignment” (Moyes & Lawrence) Work with your team to begin your MOA section of your Feasibility Analysis including sections 1, 2, 3 & 4 in the “Feasibility Assignment”

9/16/10 Market Opportunity Analysis (Cont.) NOTE- Professor York Traveling

Guest Lecturer Matt Brower to discuss utilizing the Leeds Business Library for market research

9/21/10

Market Opportunity Analysis

Read “New Business Road Test, Chapter 1” Prepare “Method - Sustainable Designs For the Home As a Corporate Strategy” (UV0812)


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9/23/10 Uncertainty and Entrepreneurship

Read Chapters 5, 6 & 7 in Effectual Entrepreneurship PRINT OUT BUT DO NOT READ “Cold Opportunity (A): The Nils Bergqvist Story” (UV2032)

9/28/10 Creating Market Opportunity

Prepare “Cold Opportunity (B): The ICEHOTEL Story” (UV2034)

1. How can you get Absolut to take your call—or better still, how can you get Absolut to call you?

2. Assuming Absolut calls, or somehow you manage to get Absolut to take your call, what is your pitch to Absolut?

3. And assuming Absolut “buys” your pitch,

what specific terms would you want to negotiate with the company? Use these to refine and more carefully create your pitch.

4. Deliverable: Select one person on your team to

spend no more than two minutes6 to present your pitch.

PRINT OUT BUT DO NOT READ “Cold Opportunity (C): The Abosolut ICEBARS Story” (UV2035)

9/30/10 Industry and Competitor Analysis

Read Introduction and Chapter 1 in Getting to Plan B Prepare “Zipcar: Refining the Business Model” (803096) Individual Entrepreneurs Interviews Due!

10/5/10 Guest Speaker To discuss recognizing and creating opportunity

10/7/10 MOA Working Session

Teams to collaborate on MOA with consultation from Professor York

10/12/10 MOA Presentations Each team to present a slide deck (7 minutes) of their MOA Written MOA due electronically prior to class !


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10/14/10 MOA Presentations (Continued)

Each team to present a slide deck (7 minutes) of their MOA

10/19/10 Developing an Effective Business Model

Read Chapters 2 & 3 in Getting to Plan B Prepare “R&R “ (386019) (Left Side) Prepare “The Pitchman”: http://www.gladwell.com/pdf/pitchman.pdf (Right Side)

10/21/10 Gross Margin Read Chapter 4 in Getting to Plan B Prepare “Heather Evans” (HBS 384079) How does Heather’s business model work? Specifically: • What is her revenue model? • What is her gross margin model?

10/26/10 Suppliers and

Partners Read Chapter 13 in Effectual Entrepreneurship Read Chapter 5 in Getting to Plan B Prepare “Walden Paddlers” (UV0239)

10/28/10

Business Model Assessment

Read Chapter 16 in Effectual Entrepreneurship Read Chapter 6 in Getting to Plan B Review sample business plans (on CULearn) and answer the following for each plan: • What are the strengths and weaknesses of each

plan?

• Which parts of the plan do believe? • Would you invest?


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11/2/10

Guest Speaker to discuss developing successful business models

TBD

11/4/10 Business Model Working Session

Teams to collaborate on business models with consultation from Professor York

11/9/10 Business Model Presentations

Each team to present completed Business Model Presentations including Power Point slides (10 minute time limit) Written Business Model Analysis due electronically prior to class!

11/11/10 Business Model Presentations (Cont.)

See Above

11/16/10 Investment and Ownership

Read Chapter 4 & 14 in Effectual Entrepreneurship Read Chapter 7 in Getting to Plan B Read “An Entrepreneurs Guide to the Venture Capital Galaxy” (De Clerq et. al., 2006)

11/18/10 Guest Speaker – VC or Angel

TBD

11/23, 11/25

NO CLASS Fall Break

11/30/10 Thinking Like an Investor

Read Chapter 20 in Effectual Entrepreneurship Prepare “Ascend Ventures into Education” (UV2008)

12/2/10 Final Questions, Q&A, Discussion

No preparation required

12/7/10

Feasibility Assessment Competition

Present your teams’ fully developed Feasibility Assessment (10 minute time limit) Completed Feasibility Assessment due electronically prior to class

12/9/10

Feasibility Competition (Cont.)

Completed Peer Evaluations Due by 12/14!


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Daily Assignments

1. Introductions, Syllabus Review, Q&A Topic: Overview and Introductions Readings: Class Syllabus and Overview

Review the class syllabus and come with any questions or concerns you may have Read “Note to the Student: How to Study and Discuss Cases” (UV0116) Read the introduction to Effectual Entrepreneurship Be prepared to briefly introduce yourself and explain your interest in this class

Study Questions: - Where are you from (Geographically)? - What is your background? - What do you hope to get out of this class? - What is something that we would never guess or find out about

you?

2. The Nature of Entrepreneurial Opportunity Topic: Entrepreneurial Opportunity Readings: Read Chapter 1 and 9 in Effectual Entrepreneurship

Read “Business Concept Assessment” (Moyes & Lawrence) Read “Climate Change 2007: Synthesis Report” (IPCC) Read “RATING ENVIRONMENTAL PERFORMANCE IN THE BUILDING INDUSTRY: LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN (LEED®)” (UVA- Forthcoming) Read “Innovating for Better Buildings” (Walsh, Urban & Herkel)

Study Questions: - What is an opportunity? - Do opportunities exist, or do we create them? - How can you find an opportunity?


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3 & 4. Presenting an Entrepreneurial Opportunity Topic: The “Elevator” Pitch Readings: None Study Questions: Prepare a 1-minute “elevator pitch” and poster for an opportunity

including: • What is the product or service? • Who will buy it? • Why will they buy it from you? BE SURE TO PUT YOUR NAME ON YOUR POSTER!

5. Guest Speakers – Tom Yang, Sean Maher, and Doug Melroy Topic: Trent Yang from the Deming Center for Entrepreneurship

Sean Maher and Doug Melroy from Downtown Boulder Readings: Check out www.downtownboulder.com

Study Questions: Read Chapter 2 in Effectual Entrepreneurship

Be prepared to assess opportunities with your team by:

• Is it doable? • Can we do it? • Is it worth doing? • Do we want to do it?

Notify me ASAP via email if you want to work on one of the opportunities presented in class; 1 team per opportunity, first come, first serve!


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6. Guest Speaker – Auden Schendler

Topic: Auden Schendler, Executive Director of Sustainability, Aspen Skiing

Company

Readings: Read the Preface, Chapters 1, 3 & 8 in “Getting Green Done” Read this article at Business Week: http://www.businessweek.com/magazine/content/07_44/b4056001.htm Prepare and turn in 1 page analysis of “Getting Green Done” from an entrepreneurial opportunity perspective, including 3 questions for Auden

Study Questions:

In this session, you will have the chance to quiz a renowned expert on the challenges and opportunities which are offered by climate change and other environmental problems:

• How do Auden’s experiences reflect potential opportunity? • How can issues many view as problems create opportunities? • Are those who pursue their goals within an existing firm

entrepreneurial?

7. Independent Work Session Topic: Beginning Your Market Opportunity Analysis Readings: Read Chapter 3 in Effectual Entrepreneurship

Read “Feasibility Assignment” (Moyes & Lawrence)

Study Questions: Work with your team to begin your MOA section of your Feasibility Analysis including sections 1, 2, 3 & 4 in the “Feasibility Assignment”


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8. Business Library Guest Lecture Topic: Utilizing What We Have Readings: Study Questions: Guest Lecturer Matt Brower to discuss utilizing the Leeds Business

Library for market research; make sure you learn:

1. How can the library help us to understand our market (both the macro and micro)?

2. How can the library help us understand our industry and competition?

9. Market Opportunity Analysis

Topic: Analyzing the Potential Market for a Product or Service Readings: Read “New Business Road Test, Chapter 1”

Prepare “Method - Sustainable Designs For the Home As a Corporate Strategy” (UV0812)

Study Questions: - How does Method differentiate their products? - Why were Method’s founders able to succeed in a saturated

and mature market? - Who is Method’s target market?

10. Uncertainty and Entrepreneurship Topic: Understanding the Role of Uncertainty and Effectual Logic Readings: Read Chapters 5, 6 & 7 in Effectual Entrepreneurship

PRINT OUT BUT DO NOT READ “Cold Opportunity (A): The Nils Bergqvist Story” (UV2032)

Study Questions:


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11. Creating Market Opportunity

Topic: How can you create opportunities? Readings: Prepare “Cold Opportunity (B): The ICEHOTEL Story” (UV2034)

PRINT OUT BUT DO NOT READ “Cold Opportunity (C): The Abosolut ICEBARS Story” (UV2035)

Study Questions: 1. How can you get Absolut to take your call—or better still, how

can you get Absolut to call you?

2. Assuming Absolut calls, or somehow you manage to get Absolut to take your call, what is your pitch to Absolut?

3. And assuming Absolut “buys” your pitch, what specific terms

would you want to negotiate with the company? Use these to refine and more carefully create your pitch.

4. Deliverable: Select one person on your team to spend no more

than two minutes6 to present your pitch.

12. Industry and Competitor Analysis

Topic: Analyzing the Competitor and Industry Landscape Readings: Read Introduction and Chapter 1 in Getting to Plan B

Prepare “Zipcar: Refining the Business Model” (803096)

Study Questions: - Evaluate the potential and the progress Chase has made.

- What is their business model? How has it changed over time?

- What do the September Operations results tell you about the effectiveness of their business model?

- Is this an attractive industry? If you were Chase, how would you pitch this business to investors?

- Are they well equipped to take on the competition?


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13. Guest Speaker – TBD Topic: Guest Speaker to discuss recognizing opportunities Readings: Study Questions: Prepare questions that you would like to ask about the revenue model

of this business

14. MOA Working Session

Topic: MOA Working Session Readings: None

Study Questions: Prepare questions that you would like to ask about your MOA. You

should have all of your current materials and be prepared to make the most of team time with the instructor to focus on your business and your MOA presentation.

15. & 16.MOA Presentations

Topic: Market Opportunity Analysis Presentations Readings: None

Study Questions: Present a 10-minute maximum update on your analysis of an

opportunity – See class overview for details on grading and requirements


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17. Developing Business Models Topic: Developing an Effective Business Model Readings: Read Chapters 2 & 3 in Getting to Plan B

Prepare “R&R “ (386019) (Left Side) Prepare “The Pitchman”: http://www.gladwell.com/pdf/pitchman.pdf (Right Side)

Study Questions: - Prepare a character profile of the entrepreneur you’ve read about; be prepared to describe them to others

- What is the role of past experience and background for each of

these entrepreneurs? - Make two columns on a piece of paper. In one column, list the

strengths and weaknesses of the entrepreneur you read about. In the second column, rank yourself on each of these. Be prepared to share this information with the class.

18. Gross Margin Topic: Gross Margin Analysis Readings: Read Chapter 4 in Getting to Plan B

Prepare “Heather Evans” (HBS 384079)

Study Questions: How does Heather’s business model work? Specifically: - Is this an attractive industry? - What are the key risks to this venture?

- How would you rate Evans as a founder?

- Critique the steps Evans took in founding this firm – What can

be learned?

- How did Evans determine the potential market for this product?

- What is her revenue model?

- What is her gross margin model?


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19. Suppliers or Partners? Topic: The role of networks in successful ventures Readings: Read Chapter 13 in Effectual Entrepreneurship

Read Chapter 5 in Getting to Plan B Prepare “Walden Paddlers” (UV0239)

Study Questions: • How were suppliers and partners critical to Walden Paddlers success?

• What traditional notions of a “business” are challenged by

Walden Paddlers business plan?

• What does the case tell us about business models?

20. Business Model Analysis Topic: What makes a good or bad model? Readings: Read sample business plans provided on course website:

Walking Peru Music Stock Market Inc. Coach House B&B

Study Questions: For each plan:

- What are the strengths and weaknesses of the plan?

- How has the plan writer addressed the people, opportunity, process and context aspects of their business?

- Would you invest in this business? Why or why not?


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21. Guest Speaker Topic: Our guest will discuss evaluating business models Readings: Study Questions: Prepare questions that you would like to ask about the financial and

operational aspects of this business

22. Business Model Working Session

Topic: Business Model Working Session Readings: None

Study Questions: Prepare questions that you would like to ask about your business

model analysis and presentation. You should have all of your current materials and be prepared to make the most of team time with the instructor to focus on your opportunity.

23. & 24. Ops Plan Presentations

Topic: Operational Plan Presentations Readings: None

Study Questions: Present a 10-minute maximum update on your business model – See

class overview for details on grading and requirements


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25. Funding and Ownership Topic: Funding Sources and Ownership Structure Readings: Read Chapter 4 in Effectual Entrepreneurship

Read Chapter 7 in Getting to Plan B Read “An Entrepreneurs Guide to the Venture Capital Galaxy” (De Clerq et. al., 2006) www.raisecapital.com http://www.thefunded.com/ www.prosper.com www.kiva.org http://www.applieddisruption.com/2007/04/one_stop_list_o.html

Study Questions: - What is your investment model? Why?

- How will you structure the ownership of your company? Why?

26. Guest Speaker - TBD

Topic: Investment and Ownership Readings: Study Questions: Prepare questions that you would like to ask about investors and their

assessment of business opportunities

27. Thinking like an Investor

Topic: Investors Perspective on Potential Opportunities Readings: Prepare “Ascend Ventures into Education” (UVA-ENT-0058)

Study Questions: • What is the role of entrepreneurs and investors in creating

value in communities?

• Would you make this investment? Why or why not?

• What would you recommend that Ascend partners communicate to their LPs regarding the Platform Investment?

• List the relevant risks – Which are in control of the

entrepreneurs? Which are not?

• How can Ascend partners assist in mediating those risks?


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28. Final Questions and Thoughts

Topic: Closing Thoughts and Review Readings: None

Study Questions: Reflect on Issues Raised in the Course

29. & 30. Feasibility Analysis Competition Topic: Presentation of Feasibility Analysis Readings: None

Study Questions: • Prepare your team’s 10-minute presentation of your Business

Plan

• Make sure you address the required points outlined in the course overview

Documents

ESBM 3700: Entrepreneurial Environments€¦ · ESBM 3700: Entrepreneurial Environments 1 ESBM 3700: Entrepreneurial Environments Fall 2010 Course Syllabus _____ Instructor: Jeff