Practitioner Enquiry for Raising Finance for a Business Start-up

Patrick Casler

Lektor für Englisch

Theory

Maurice Gibbons

Student Self Direction

Robert H Frank

Active Use of Principles

E.D. Hirsch

Cultural Literacy

Dr. Maurice Gibbons

How can we build a course in which students meet the learning outcomes because they align with their own personal goals?

“Modern Technology puts everything in the student’s hands.”

Gibbons, M. (2002) The Self Directed Learning Handbook: Challenging Adolescent Students to Excel. San Francisco: John Wiley & Sons, Inc.

Robert H Frank

Economics Professor at Cornell and contributor at The New York Times Do our students still know the material months after the exam? Active writing assignment approach to teaching Economics 101

“The Economic Naturalist Writing Assignment,” Journal of Economic Education, 37, 1, Winter, 2006: 58-67.

E.D. Hirsch

The importance of cultural literacy and knowing the background. He met his Waterloo… There are lists of things you need to know! Hirsch, E.D. (1987) Cultural Literacy: What Every American Needs To Know. Boston: Houghton Mifflin Company

Design of Course

Students who score 2,0 or better are eligible for a C1 DAAD certificate.

Delivered as condensed class for BWL and Spöko

1st Friday 8 hours class

1st Saturday 8 hours class

2nd Friday 4 hours class, 4 hours pitch competition

2nd Saturday Exam

Three General Student Types

The Streber

1. Comes to office hours 2. Asks clarification questions 3. Answers questions correctly 4. Does exactly what you want

Three General Student Types

Charlie Hustle

1. Might come to office hours 2. Wings it! 3. Has an answer for every

question (not always correct) 4. “Grammar isn’t that

important”

Three General Student Types

Foreign Experience

1. Doesn’t come to office hours 2. General English almost perfect 3. “I studied in the States, I don’t

need to edit!” 4. Expecting to coast through

Assessment

10% Class Participation

30% Group Business Plan

30% Group Pitch Presentation (Dragon’s Den)

30% Final Exam

Group Business Plan

• Allows students to demonstrate their new knowledge in creating a product, analyzing markets, marketing, logistics and raising funding.

• Follows structure of Forbes: http://www.forbes.com/sites/davelavinsky/2013/12/03/business-plan-outline-23-point-checklist-for-success/print/

• Ca. 8 pages

• Grading based on: Grammar/style, business specific vocabulary, meeting content criteria per section. (See Rubric)

Forbes Business Plan

Forbes Business Plan

• Read Forbes Description and go over key terms

• Varied use of sentence structure i.e Active Voice, Passive Voice, It + Passive and Compound nouns

• Proper use of tenses especially present simple vs present progressive. i.e.

We manufacture toys NOT We are manufacturing toys

We are looking for investors NOT We look for investors.

• Marking Rubric

Marking Rubric

Include one copy with Business Plan

BE II Planspiel Business Plan Evaluation

Names: Date:

Product:

Content

1. Abstract ____/2

2. Business Plan presents a convincing

investment opportunity ____/5

3. Descriptions are creative and give specific details including Income Statement and

Balance Sheet ____/5

Sub-Total

____/12 Content

Comments

Organization and Presentation

1. Business Plan follows logical structure ___/1

2. Visually Attractive and straight forward ___/2

3. Numbers are formatted correctly ___/1

____/4 Presentation Skills

Language Skills

1. Spelling and Usage ____/2

2. Range of vocab (Specific Business) ___/4

3. Range of vocab (general) ____/2

4. Proper use of Active/Passive Voice ____/3

5. Proper use of Tenses ____/3

____/14 Language Skills

____/30 Total Score General Comments:

Lektor Name: Signature:

Consultation / EXIT VISA

Most Important 10 minutes of class!

Students present SWOT Analysis of their business prior to leaving on the Saturday.

My chief concern was if the students business idea was sound and thought through.

Opportunity to check in with self-directed goals.

Student Examples

Food, Bars, Alcohol

World Themed Noodles

Veggie and Friends

Home delivered groceries

Tough Beer

Unique Diner House

The Glowing Examples

Major Benefits of Self-Directed BP

1. Varied and Unique Topics

2. Students learn specialized vocabulary in a field they are interested in.

3. Students use and apply the language actively.

4. Students take personal responsibility for increasing vocabulary.

The “howl” Truth

For the next 5 years we plan to establish the business in howl Germany as a common service of buying things.

Common Issues

1. Too much writing, not enough editing

2. German number convention

3. Vague and over use of “good” and “big”

Room for improvement

1. Promote use of key business and technical vocabulary in writing

2. Increase amount of time spent editing

3. Raise greater awareness between spoken language and written language (Register)

Business Pitch Competition

Dragon’s Den or bank loan application?

Investment Pitch Content Scaffold 1. The founders Education/work background, how they became involved in venture, what are they responsible for in company? 2. The company When was it founded, what type of company and why, how big? 3. The product How was it developed, how much does it sell for, how much does it cost to produce, unique selling features, why is it necessary? 3. The market What is your target market and how large is it? 4. Target customer Which type of customer are you trying to attract? Who is likely to buy the product? 5. Investment Type Loan, Equity investment, How much money? Do you need a loan or a new partner? If looking for a partner aside from cash what do you want from them? 6. What are you going to spend the money on? 7. How will this help grow the business? 8. What is the return on investment and why is this a secure investment?

Presentation Rubric

Provide to Mr Casler prior to presentation

BE II Planspiel Pitch Evaluation

Names: Date:

Product:

Organisation and Content

Information to include in Pitch.

1. The founders ___/1

2. The company ___/1

3. The product ___/1

4. The market ___/1

5. Target customer/Niche ___/1

6. Type of investment sought ___/1

7. Assets to be purchased ___/1

8. How will this help grow the business? ___/1

9. What is the return on investment/ why is this

a secure investment? ___/1

Sub-Total

____/9 Organisation and Content

Comments

Presentation Skills

1. Confidence ___/2

2. Timing ___/2

3. Fluency & Clarity (volume, pace & intonation) ___/3

4. Managed class questions ___/3

____/10 Presentation Skills

Language Skills

1. Pronunciation ___/4

2. Range of vocab (Specific and General) ___/4

3. Accuracy of grammar ___/3

____/11 Language Skills

____/30 Total Score General Comments:

Lektor Name: Signature:

Results

• On the whole, very well done

• Most students prepare PowerPoint

• Stressful for the majority

• Unsound concept, unsound presentation

• Over reliance on general English

Course Content and Exam

How does a university instructor, who avoided freelance teaching, teach a class on entrepreneurship?

The Death of Lifelong Jobs

Class Reading of Calgary Herald and Toronto Star Articles

Key Vocabulary Freelancer, flexible, precarious, permanent, consultant, permanent job, paycheques, benefits, pensions, retirement, entry-level staff, outsourcing, automation, economic instability, commute, Develop, survey, Skills Gap, Evidence, Labour, Demand, Supply, Scarcity, Abundance, Wages, Downsize, Qualifications, Risk, Training, Retention, Commitment,

http://www.calgaryherald.com/business/death+lifelong+jobs+Unlike+past+generations+younger+workers+having+adjust+employment/10295047/story.html

How Funding Works

Blog post from Funders and Founders

Key Vocabulary

Bootstrapping, Equity, Public Solicitation, Accredited investors, Angel Investor, Pre-Money Valuation, Post-Money Valuation, Dilution, Venture Capitalists, IPO, Investment Bankers, sweat equity, fold

http://fundersandfounders.com/how-funding-works-splitting-equity/

Primary Banking Documents

Account Application

Loan Application

Key Vocabulary

Business Account, Small Business Overdraft, Business Cheques (Checks), Credit Card, Interest, Equity, Fraud, Credit Check, Credit Score/Rating, Consent, Confidential

Reductio Ad Absurdum

http://9gag.com/gag/aypqmYX/this-guy-just-explained-marketing-perfectly-this-is-so-true-it-hurts

Reductio Ad Absurdum

Benefits of Authentic Sources

1. Relevant, practical and applicable

2. Assessable to ESL learners but written for native speakers

3. Strong student interest

4. Current

5. Free

Exam Results: Blog

What is Bootstrapping?

a. Starting a Company

b. Growing without external funding

c. Starting two business at the same time

d. Austerely constricting a business

% correct =

79%

Exam Results: Primary sources

A bank will run a when you apply for a .

a. Credit Referral…Consolidation

b. Cheque…Mortgage

c. Credit Check… Line of Credit

d. Consolidation…Credit Check

% correct =

89%

Exam Results: 9gag

Which Marketing Technique succeeded? Patrick purchases Dr. Oetker in Germany because he does not trust the unknown Ja! Brand.

a. Brand Recognition

b. Telemarketing

c. Advertising

d. Public Relations

% Correct

93%

Student Evaluation

Student Evaluation

Improvements

The Consultation

1. Improve language content of plan through stronger focus on following principles of Gibbons and targeting specific language and vocabulary goals for students. Student has input on personal rubric.

The Exam

2. Reducing Exam from 2 hours to 1 hour.

Sumamry

Self direction allows for students to take greater control of own learning but goals must be created in partnership with teacher to ensure specific key vocabulary is gained.

Discussion

How do we get the high achiever to do a more unique business plan topic ?

How do we convince “Charlie Hustle” to challenge himself and focus on his grammar?

How do we get strong speakers to focus in on the grammar and technical vocabulary through creativity and goal setting?