Entrepreneurship

IBMEPR12R3

Presentatie
titel
Week 1 F. Berkhout
Subjects:
Module introduction
Making a business plan
Rotterdam, 00 januari 2007
Rotterdam, April 2015

Course Outline Entrepreneurship

(1/2)

Two way stream:

1.
2.

Development of a business as an entrepreneur

Development of the person (being entrepreneurial or
being an entrepreneur)

Course Outline Entrepreneurship

(2/2)

Module code: IBMEPR12R3

N@tschool => Entrepreneurship
Books:
Creating a Business Plan
The 7 Habits of Highly Effective People
Global Strategic Management

3 contact hours (central lectures, group work/consultation)

Previous module Emerging Markets (=> macro analysis)
Assessment & Grading:
Group work assignment
-> 100%
Personal essay
-> Pass/Fail
Without a sufficient personal essay no grade for the module

Procedure

Group
assignment

Attenda
nce

Essa
y

Result

Resit

>5,5

>80%

Pass

Pass

4 - 5,4

>80%

Pass

Fail

Improve business
plan

<4

>80%

Pass

Fail

Make a new business

plan

1-10

<80%

P or F Fail

Make a new business

plan

Fail
No
Make a new essay
More information? (deadlines and so on)
Grade
Module description Entrepreneurship (n@tschool)!

Daily Log

Date
Of
Entr
y

Action or Comment

Person
Respon
s

Targ
e
t

1305

Kick-off meeting

Present
Name

1305

Project Manager

Name

13-5

Distribute Daily Log

John

14-05

13-5

Gantt Chart

Cheril

18-05

1305

Next meeting

Result

Not present
Name and Reason

Personal Activity Log

Date

Description activity

Time

Gantt Chart

Peer Assessment
Bonus for average grade Business Proposal
Project member 1

Project member 2

Performance item 1

Performance item 1

Performance item 2

Performance item 2

Performance item 3

Performance item 3

Performance item 4

Performance item 4

Average

29/4=7,25

Overall average = (7,25+5,50)/2=6,375

Peer bonus: project member 1: 7,25-6,375= 0,875
project member 2: 5,50-6,375= -0,875

22/4=5,50

Planning Lectures
Week 1

Module introduction making a business plan

How to start a business (legal form, challenges, choosing business partners, e.g.)
Holiday break

Week 2
(Thursday &
Friday: no
class)

Covey => Challenges the entrepreneur faces (an overview)

Consultancy => Proposal -> plan & general outline

Week 3

Covey => Going from dependence to independence

Consultancy => plan & outline (more detail)

Week 4

Seminar: Being an Entrepreneur 26th of May from 16:30 18:00

(Auditorium)

Week 5

Covey => going from independence to interdependence

Consultancy => Draft business proposal (finished!)

Week 6

Covey => Renewal. Overview, conclusions and implications

Consultancy => Prepare presentation and fine tuning

Week 7

Presentations and hand in draft business plan & hand in personal essay (Hard
copies!)

Week 7 or
8( is exam
week)

Final business plan

Deadline: Wednesday 24th of June

More detailed outline see: n@tschool =>

Entrepreneurship

Development of the person (being entrepreneurial or being an

entrepreneur) => YOU!!!

Essay outline
1)

Give a short personal evaluation on this program.

Supporting questions:
What did you learn? How are going to use this?
What was good? What can be improved?

2) Make a distinction between being an entrepreneur en being

entrepreneurial for your
own personal situation while using the 7
Habits of highly effective people.
Supporting questions:
Who/What are you on a scale from 1 to 10?
entrepreneur
1-------------------------------------------------------10
entrepreneurial 1-------------------------------------------------------10
Where are you now?
Where do you want to be on these scales?
When are going to be there?
How are going to do that? Be precise, give the steps (what, how and
when)
What does it look/feel/sound/smell/taste like? -> Describe your
dream!
What are your goals? Are those in line with your dream?
How are going to achieve these goals? => make it happen, but how?
What/who do you need to achieve these goals? => You always need
something or
someone..

Development of a business as an entrepreneur

Form a group:

Max 5 students per group

Discuss your organisation (project leader,

finance, marketing, logistics, project support
(daily log, organise ICT environment, etc.)

Discuss the opportunities and make an

overview

Make a short list (one per member)

Determine criteria to select 1 opportunity

Choose the best opportunity to start

your business!

How to choose a business opportunity?

Project Management / junior enterprise (Year

2)
Applied Marketing
Emerging Markets
Placement
Minor
Your own business?

Dragons Den
http://www.youtube.com/watch?v=6icEZbUkvrw

Contents of a successful business

A great product (= goods and/or services)

Great in marketing (and selling!)

Great in organizing the business with a strong

focus on the financial part

Business Plan:
Why write a business plan?

To compose your thoughts

To estimate financial risks (also required by financial lenders)
To create a guide line (with checks and balances)

Who will you be dealing with?

Tax authorities
Chamber of Commerce
Bank
Government
Customers
Suppliers
Fellow entrepreneurs
Professional associations
Guest speakers
?

Business plan:
Find a structure that works..for you!
Goals =>
1.Convince potential investors
2.Create a guide line, so you can
really make this plan work

Anatomy of A Business Plan

(Creating a Business Plan, Harvard Business School Press)

Typical structure:

Cover page & table of content

Executive summary
Business description
Business environment analysis
Industry background
Competitive analysis
Market analysis
Marketing plan
Operations plan
Management summary (the people)
Financial plan
Attachment and milestones

But.

You choose the best structure for your business

proposal!

Creating A Business Plan

Define your purpose

Gather resources
Develop a strategy
Gain support

How to start?
Starting point:

FACTS

check

check

Strate
gy
Starting point:

CREATIVIT
Y

check

Starting
Starting point:
point:

VISION

Three starting points model (Berkhout, 1998)

Your information needs

Steps to take:
1. Review the elements of a basic business plan
2. Define the categories of information you need
3. Determine the critical information you have
4. Determine the information you need to
retrieve
5. Explore where and how you will get the
information
6. ACTION!!!

Investigating your market

Layers of the business environment

Setting up your business

Catchy trading name?

Which legal form is best?
Business premises?
Permits and rules?
Chamber of Commerce?
Tax authorities?
Subsidies?
Insurance?
Personnel?
..???..

Market (customers)

Some (possible) questions:

Who?

How many?

Need & wants?

Share of wallet?

Market potential?

??? (what else)

Competitors

Some (possible) questions:

Who?

How many?

Relevance?

Market share?

??? (what else)

PESTEL (the macro-environment)

Political factors
Economic factors
Social factors
Technological factors
Environmental factors
Legal factors

Making marketing decisions

To name a few:

Product-portfolio
Target groups
Positioning
Pricing
Customer value proposition (Why should/will they buy?)
Distribution
Communication (what, how, where and when?)
Branding (What is your story?)
?????

Organising your business

Organizational model
Legal form
Production process
Automation
Logistics
Location
Personnel / the team
???

Arranging your finances

Revenue versus costs!
Sothink about:
What does your product cost?
Other fixed and variable costs (that are easily
overlooked):
earnings of entrepreneur; VAT; rent ; interest; insurance,

Investment budget
Financing plan
Solvency
Revenue forecast
Break Even Point
Opening balance sheet
Results budget
Liquidity budget
??????

Make it as realistic as you

can!

What to use in your business plan?

Only when it is

Important & Relevant!!!!

It is in the plan.

So remember.

Winners have a plan

excuse

Losers have an

THIS WEEK:

Form a group:
1. Max 5 students per group
2. Discuss your organisation (project leader,
finance, marketing, logistics, project support
(daily log, organise ICT environment, etc.)
3. Discuss the opportunities and make an
overview
4. Make a short list (one per member)
5. Determine criteria to select 1 opportunity
6. Choose the best opportunity to start
your business!

WEEK 2:
Proposal -> plan & general outline