1. Business Planning Course

Business Planning Course

APPLIED ENTREPRENEURSHIP: PLANNING A STARTUP VENTURES 

Course Overview – The Entrepreneurial Process

Master Checklist for a Startup Venture

Small Business vs. Startup Venture

Critical Things to Remember

Topic 1: Initial steps in startup process

 

Summary: The following subcategories outline the procedural steps to follow when beginning business operations. The depth or extent of applicability of each section will vary depending on the nature of the business.  However, below are guidelines to guide entrepreneurs and small businesses through the maze that is starting operations.

TOPICS

Licenses

Tax Licenses and Numbers

Business Name & Brand

Forming a Business Entity

Business Permits, Professional and Occupational Licenses

Real Estate and Leasing

Zoning Regulations & Land Restrictions

Business Insurance

Fiscal Administrative Setup

Topic 2: Ideation and Innovation

 

Summary: The following video and text lessons introduce the concepts of ideation and innovation. We introduce the identification of opportunities and the process for generating new ideas that could be opportunities. Notably, we introduce numerous techniques for effective brainstorming of wants and needs that may constitute valid business ideas.

TOPICS

Ideation and Innovation

Entrepreneurs and Opportunity

Needs vs Wants

Entrepreneurs and Inventors

How Entrepreneurs Encounter Opportunities: Methods of Innovation

Prior Experience in Opportunity Identification

Techniques for Generating Ideas: Brainstorming Overview

Types of Brainstorming

Ideation Best Practices

Ideation and Existing Ideas

Translating the Idea into the Business Plan

Testing a Concept for Value

Closing Points on Ideation

Topic 3: Market Research & Analysis

 

Summary: Market research is the process of identifying and quantifying potential markets in which to sell a product or service. The process is far more than mere quantitative analysis of numbers of potential customers and past purchasing date. It involves many qualitative aspects that recognize the particular desires, customs, preferences, and characteristics of individual markets. Market analysis regards the use of these quantitative and qualitative variables to determine whether a market is attractive or will sustain a given business operation.

 

TOPICS

Market Analysis Overview

Market Analysis Resources (SBA.gov)

Customer Segments & Target Market

Determining Market Size

Pricing Your Product

Customer Priority

Market Potential

Marketing Research Overview

Primary Market Research

Secondary Market Research

Quantitative and Qualitative Research

Topic 4: Product & Service Development

 

Summary: The development stage is where you set into motion the value creation process. By its very nature, a product or service serves or purpose or objective that another person entity is unable to fulfill. This process involves the technical skills to design, organize, or construct the service or process, as well as the vision and understanding of the who, what, when, where, and why of the business concept.

 

TOPICS

Product or Service Development Overview

Alpha Test

Strategic Assessment: Minimum Viable Product

Beta Test

Disclosing Your Business Idea

Intellectual Property Considerations

Topic 5: Strategy & Competitive Advantage

 

Summary: This section deals with a number of questions, such as: How are you going to deliver value? How the will the value you deliver value that causes customers to choose you above competitors? How will sustain or grow that customer preference throughout the life of your business?

 

TOPICS

Business Strategy Defined

What is Strategy?  (Harvard Business Review Article)

The Concept of a Value Proposition

Porter’s General Strategies

Bowman’s Clock

SWOT Analysis

TOWS Analysis

PESTEL (External Factors for Analysis)

Porter’s Five Forces

Summary of Strategic Analysis

Competitive Advantage

Topic 6: Operational Plan & Analysis

Summary: Operational analysis regards the initial analysis of what operational aspects are required to carry on the business. This is essential for determining the feasibility of a business idea. An idea may have potential many aspects, but the operational aspects are not feasible. An operational plan provides a working outline of the numerous components that make up or affect the intended business operations.

 

TOPICS

Operational Analysis

Operational Plan Overview

Elements of Operational Plan

Steps in Developing an Operational Plan

Porter’s Value Chain

Other Elements of an Operational Plan

Manufacturing Overview

Shipping & Logistics (Overview)

Topic 7: Marketing Plan

Topic 8: Sales Plan & Presentation

 

TOPICS

Sales Planning Overview

Sales Presentation Overview

Topic 9: Financial Projections

Topic 10: Business Plan, Model, & Pitch

 

Summary: This stage involves the aggregation of the business idea or product with the transfer of value to potential customers. The model will serve as a road map for how you plan to create value for customers, while the business plan will record the proposed procedural steps for carrying out that plan.  The Business Plan will contain and break down the business model. The business presentation is the organized presentation of the business model and plan to potential investors.

 

TOPICS

Business Model

 

Business Plan

Business Plan, Part 1 (Outline – Overview)

Business Plan, Part 2 (The Executive Summary)

Business Plan, Part 3 (General Description of Business)

Business Plan, Part 4 (Market Analysis)

Business Plan, Part 5 (Competitive Analysis)

Business Plan, Part 6 (Marketing Plan)

Business Plan, Part 6 (Marketing Plan, Cont’d)

Business Plan, Part 7 (Operations)

Business Plan, Part 8 (Management and Organization)

Business Plan, Part 9 (Financial Projections)

Business Plan, Part 10 (Appendices)

Business Plan, (Final Modifications)

Business Plans:  How Much is Too Much Research (Article & Video)

 

Business Plan Presentation

Topic 11: Management Team

 

Summary: When forming a business team there are lots of considerations that can dramatically impact the success of your business.

 

TOPICS

Forming a Team (Overview)

Entrepreneurs and Inventors

Culture and Fit

Founders and New Owners

Early Employees & Contractors

Ownership and Control of Founders

Rights of Owners

Organizational Documents

Fiduciary Duties within the Business

Topic 12: Exiting the Business

 

Summary: Many startups begin with the expectation of capitalizing on the firms value through a later exit event. An exit event is any method by which the entrepreneur divests herself of her ownership interest in the firm. This section discusses various methods for the entrepreneur to the startup venture.

TOPICS

Closing Up Shop 

Overview of Selling a Business

Private Equity

Public Offering

Bankruptcy

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