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Course syllabus

THE ART AND SCIENCE OF ENTREPRENEURSHIP 

INTRODUCTION TO ENTREPRENEURSHIP
Evolution of the entrepreneur
Definition of an entrepreneur
Entrepreneurship and innovation
Types of entrepreneurs
          Classic entrepreneur – A business creator         
          Business proprietors
          Hi-Octane entrepreneurs - Innovators
          Social entrepreneurs
          Intrapreneurs
          Equity business vs. lifestyle business
          The transitioning manager
          Inventors 
                    Tech transfer entrepreneurs
The importance of entrepreneurship
          Contributions of entrepreneurs
          An Entrepreneurial profile
 
EVALUATING YOUR ABILITIES AND MOTIVATIONS

Characteristics of entrepreneurs
               Are entrepreneurs born or made?
What it takes to be an entrepreneur
          Important traits
                    An achievement orientation
Determining if you have what it takes
        Testing your entrepreneurial proclivities
The motivations of an entrepreneur
The entrepreneurial decision
The differences between entrepreneurs and managers
The background of an entrepreneur
The gender or an entrepreneur
What is needed to be an entrepreneur
Must haves
Nice to have
Factors that contribute to entrepreneurial success
SELF ASSESSMENT: SHOULD I OR SHOULDN'T I?
ASSIGNMENT: PROFILING AN ENTREPRENEUR
 
INNOVATING AND CHANGING

Innovation: An overview
Types of innovation
Personal characteristics of the innovator
Prepare to innovate
          Start simple
          Believe and achieve
          Exploit unique knowledge
Search for opportunity
          Track trends to prepare for tomorrow's opportunities
Get help from others in digging for ideas
                    Brainstorming
Use lists to acquire know-how
                    Tip Lists
                    Collaboration lists
Creativity apply your knowledge to opportunity
          Muster your creativity
                    How the brain works
                              Go with the right
                    Let uncertainty rule
                              Allow for paradoxes
          Apply your full talent
                    Bend the rules
                    Don't get in your own way
                    Double your failures
          Use your gut
                    Exploit luck
          Be a MetaManager
          Neutralize interference
                    Beat back your brain
Ignore the signs
  Take risk                          
ASSIGNMENT: Use innovation "triggers"           
Put innovation to work
          Apply competencies to opportunities - Pathfinding
                    Find the paths
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ESTABLISHING AN ENTERPRISE
 
Determine the unduplicated value or utility you will be providing
          Formulating the business model
                    Top line
               Validating your anticipated revenue stream
Distinguishing your product/service
Bottom line
Margin
In-between lines
Identifying your potential customers
          Quantifying anticipated demand
          Determining their wants and needs
          Verifying their capacity and proclivity to purchase
Developing approaches to your target markets
          Exploiting social media
Assessing your competition
Making the numbers work - Number Gumbo
          Running the numbers for the real world
Tracking the flow – A spreadsheet
          Setting prices
Identifying and mobilizing the needed resources
Specifying plant and equipment needs
Screening vendors
Formulating make or buy decisions
Organizing
Naming your business       
Organizational structures      
          Franchise alternatives
Building a team
          Hiring the first employee
Raising the capital
          Bankrolling the operation 
                    Banks
                    Investors
                              Angels
Venture capital providers
The public
                    Other lenders
Technology transfer
Move quickly                  
Doing a final self-check
Creating a START UP business plan
 
ASSIGNMENT: Sourcing a tips list from entrepreneurial history
 
RUNNING A BUSINESS

MetaManagement – Moving beyond administration
Marketing
Creating a theme or personality
Selecting marketing methodologies
          Determining sales and distribution channels
                    Virtual outlets         
          Promoting
Advertising
Managing prices
Building a sales team
          Motivating sales personnel
Maintaining customer relationships
          Pick customers that pay     
Controlling the finances
          Cost analysis and control
Running the cash
Monitoring
          Establishing "key numbers"
Running ratios
          Controlling debt
          Collecting
Directing operations
          Planning and scheduling
          Ensuring product safety
          Establishing a report structure
Interacting with your collaborators
          Team members
          Investors
Lenders
          Spouse or significant other
Motivating a team
          Creating entrepreneurs & intrapreneurs
          Compensating
                    Sharing ownership
Nurturing a safe, positive workplace 
Dealing with competition
Managing risk
          Assessing it
          Accepting it
          Preventing it
          Dealing with negative outcomes
          Precluding loss
                    Using insurance
Protecting intellectual property
          Managing licenses
Managing time
Bargaining and negotiating
Getting help
Dealing with failure
          Learning the warning signs
          Taking immediate action
Dealing with the impact of the external environment
"The Theory of Events"
Creating an operating business plan
ASSESSMENT: Sense of Self
ASSIGNMENT: Using social media to market your product or service
 
 
MAJOR OWNER ISSUES
Biggest mistakes
Valuing the enterprise
Dealing with family
Succession
Preparing for the “if”
Selling the enterprise