Entrepreneurial Ventures (BCS – EV)v Professor Powell

Objectives


The main objective of the course is to experience the challenges of starting and financing a new company. You will go through the process as an entrepreneur or franchise purchaser and as an investor. Course Scope The class is integrative and experiential in nature, drawing from a broad range of business basics. Its main focus will be in-depth exposure to the process of starting and scaling an enterprise from an idea and business plan into a company.



In our class discussions we will examine and explore the entrepreneurial process, and analyze business decisions that entrepreneurs face.



As an entrepreneur you will:

1. develop a startup idea

2. craft a promising execution strategy and validate the market potential

3. develop a credible business proposal

4. build a team of employees, partners, and other stakeholders

5. effectively communicate your ideas to investors and negotiate funding
Or
Business Analysis: Students are to identify a locally owned business and interview the owner (in-person or via telephone) from a franchise perspective. The Business chosen should be at least one year in existence but no more than five years old. The business chosen must be facing a “crossroad” decision in the very near future e.g., an additional business location, admitting another partner, purchasing a computer system, expanding product line, etc. The analysis should include relevant background information to the business such as: how long the business has been in existence, type of entity (i.e., corporation, etc.), brief overview of the owners and the product or service, and a description of the “crossroad” decision. (Note: if you are unsure whether you have identified an acceptable business problem contact the instructor to discuss.) Students are then to “don a consultative hat” and provide advice to the owner making recommendations as to how to proceed. Recommendations should be supported by well-thought out and substantive facts…..why you would be interested in purchasing this business.


As an investor you will learn to:

1. recognize and analyze good business opportunities

2. critique and mentor entrepreneurs

3. make choices about which company to finance

4. negotiate terms with entrepreneurs




The class will expose students to what entrepreneurship takes in a startup context, and how integrative, entrepreneurial execution can be successfully utilized in a variety of career and work contexts. Students will formulate a plan to take an idea into execution, present and articulate elements of this plan in multiple sessions, and defend it against challenge and criticism. There will be a special effort to integrate concrete, operational, and execution-related information, to define key areas an entrepreneur should be aware of, to expose students to a variety of successful entrepreneurs, and to provide a framework of "toolkit" resources relevant to startup execution. The class will be structured to accommodate both students with a pre-existing plan and those wishing to develop an idea.