GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 1 - PowerPoint PPT Presentation

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GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 1

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GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 1 David E. Goldberg Department of General Engineering University of Illinois at Urbana-Champaign – PowerPoint PPT presentation

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Title: GE 393 RLP Business Plan Workshop for Technology Entrepreneurs Week 1


1
GE 393 RLP Business Plan Workshop for Technology
Entrepreneurs Week 1
  • David E. Goldberg
  • Department of General Engineering
  • University of Illinois at Urbana-Champaign
  • Urbana, Illinois 61801
  • deg_at_uiuc.edu

2
So You Want to Be an Entrepreneur
  • Dot-com collapse was a craze, but it had a real
    component.
  • Entrepreneurship is here to stay.
  • Logical extension of Handys work portfolio.
  • Forces of technology revolution, end of the Cold
    War, reduction in transaction costs.

3
Business Plan as Ticket
  • Business plans are tickets to technology-based
    entrepreneur.
  • Garage-based ventures have grown up.
  • Established rules of the game to start ups,
    funding, and new companies.

4
Introduction
  • What are goals of the course?
  • Who are we? Who are you?
  • Prerequisites seriousness
  • Course materials
  • Course schedule
  • An aside on IP disclosure of ideas
  • Business concept selection

5
Intro (cont.)
  • Team selection
  • Course diary
  • Course grading
  • Sources of information
  • Forms
  • Concept selection
  • Brainstorming

6
Course Goals
  • Create plausibly viable business plans for
    technology-based businesses.
  • Means teams of students working with faculty and
    off-campus mentors with repeated presentation,
    QA, and close feedback.
  • Not a lecture course.

7
Deconstruct Goal
  • Plausibly viable Must make persuasive argument
    for realistic business. No going through the
    motions, no half-hearted attempts
  • Technology-based Technology must be integral
    part of business.
  • Businesses not trading firms No license deals,
    no real estate deals, no security deals.

8
Who Are We? You?
  • Marianne Dickerson, marianne.dickerson_at_rrd.com
  • David E. Goldberg, deg_at_uiuc.edu
  • Other mentors.
  • Who are you? How many different departments?
    Business ideas? How did you hear of class? Why
    are you here?

9
Prerequisites
  • Formal Junior standing or consent of instructor
  • Informal GE 393 MJL, Technology Opportunity
    Assessment, TTh 4-520, 101 TB.
  • Ideally Take tech feasibility plan and create
    full business plan
  • If not, extra reading and work for student.

10
Seriousness
  • Engineering/science students think business
    courses are easy and not rigorous.
  • GE 393 RLP is rigorous.
  • Writing excellent business plan in 14 weeks is
    not easy.
  • We will be writing excellent business plans here.

11
Is BPWTE for You?
  • Are you
  • Entering Cozad Bplan Competition?
  • Starting a business now or after school?
  • Taking an entrepreneurial-related job?
  • If yes, then you may be serious enough.
  • If no, ask yourself if you want to work this hard.

12
Course Materials
  • TE
  • TPW
  • LLE
  • HRFR
  • NVC
  • Optional GM, RM, LG, WSJ

13
Course Schedule
  • 14 weeks is not a long time.
  • Important to get off and running quickly.
  • Important to come prepared each week to meetings
    with mentors.
  • Presentations are key milestones.
  • Hard work (or lack) will show.
  • Review the schedule.

14
An Aside on IP
  • IP Intellectual property not Illinois Power
  • Ideas belong to inventors who are expected to
    protect their ideas.
  • Concepts presented in class in BPs.
  • If concepts cannot be presented without NDAs, not
    appropriate for this class

15
Business Concept Selection
  • Two types of concepts
  • student-contributed
  • OTM or faculty-contributed
  • OTM faculty-contributed to be distributed
  • Need form BC for student concepts today.
  • Need concept champions today.

16
Team Selection
  • Teams consist of minimum of four (4) class
    members.
  • Team members not enrolled need to sign up for
    continuing education credit.
  • Next week will hold concept-team agora.
  • Match students to concepts.

17
Agora
  • Concept champions will set up shop.
  • Students will read over concepts.
  • Students will talk to concept champions to try to
    enroll in teams.
  • Team of four can declare itself closed.
  • Concept champions can abandon idea.
  • Unclaimed ideas can be claimed by new champions.

18
Agora Aftermath
  • Once teams settled, file form TS.
  • Members can switch teams (subject to minimum
    number) until week 5.
  • File form TS for any team change
    (members/names/concept).
  • Concept champion is not necessarily CEO.
  • Team organization between team mentor

19
Course Diary
  • All students required to keep course diary.
  • Official IP record (legal document).
  • Records progress and contributions.
  • Turned in at end of semester to mentor to help in
    mentors assessment.

20
Course Grading
  • Grade decomposition
  • Business Plan 50
  • Final presentation 25
  • Mentor assessment 25
  • Grade influences
  • Jury evaluation of presentations
  • off-campus mentors
  • Form PA

21
Additional Info
  • Great info on the web
  • Plan to get business librarian to help us with
    searches.
  • Look at links

22
Forms
  • Form BC Business concept submission
  • Form TS Team selection/modification
  • Form PA Peer assessment
  • Form CL Course exit checklist
  • Form BPC Business plan critique

23
Business Concept Phase
  • Handout OTM/Faculty concepts.
  • Collect, copy, and handout student-submitted
    concepts.
  • Identify student concept champions.

24
Group Innovation
  • A key challenge early on is to innovate as a
    group.
  • Structured brainstorming as a solution to the
    problem.
  • Motivation, props, and method of brainstorming.
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