The success rate for new businesses is quite low. The Entrepreneur's Guidebook contains advice on how to improve the odds. It discusses how to use the entrepreneurial method to develop a more profitable business, how to find the right customer segment, the innovation techniques for developing new products and services, and the many alternatives for generating revenue. It also discusses how to write a business plan, what types of funding to pursue, which legal entity to form, the legal issues associated with intellectual property, and much more. It is the essential desk reference for entrepreneurs.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the characteristics of the ideal entrepreneur.
Specify how an entrepreneur differs from a manager.
Describe the activities of a lean start-up.
Identify how strategy is employed in a start-up business.
Specify the issues that can arise with a SWOT analysis.
Identify the various barriers to entry.
Recall the structure of the sales break-even point calculation.
Specify the cost structure that would cause the most trouble if there is a decline in sales.
Describe the contents of a profile for customer segmentation purposes.
Specify the types of strategic experiments in which company founders might engage.
Specify how to compete against other parties using innovation.
Recall the characteristics of the most successful innovators.
Recall how to create a more effective incremental innovation campaign.
Specify how to enhance an internal crowdsourcing system.
Identify the advantages associated with networking by an entrepreneur.
Recall how to qualify a founding team for a start-up.
Recall the contents of a mentoring work plan.
Specify how a mentor can improve the relationship with a mentee.
Identify the circumstances under which various pricing adjustments should be used.
Recall how markdown management software can be used to enhance margins.
Specify the revenue management activities employed by an airline.
Identify how a reference point can be used within a retail environment.
Recall how reducing prices can increase a seller's profit percentage.
Specify how and when the different types of marketing strategies should be used.
Identify the various types of sales promotions.
Recall the components of a business plan.
Specify the issues associated with budgeting for capital spending.
Identify the flaws that can appear in a business plan projection.
Recall the elements to present in the financial projections of a business plan.
Specify the optimal length of a business plan.
Identify the options normally available for funding a start-up business.
Recall the requirements of the various types of investors when they invest in a start-up.
Specify the advantages and disadvantages of the various types of funding.
Identify the contents of a personal financial statement.
State the advantages and disadvantages of crowdfunding.
Recall when it makes sense to obtain funding from friends and family.
Specify the characteristics of the different legal forms of business.
Identify the characteristics of intellectual property.
Recall the legal justification for seizing trade secret items in the possession of another party.
Major Topics
The Nature of Entrepreneurship
The Entrepreneurship Method
The Scaling Problem
Select the Right Type of Business
Calculate the Sales Break-Even Point
The Ideal Customer
The Customer Relationship
Innovation Theory
Innovation Strategy
The Nature of a Network
Role of a Mentor
General Revenue Models
The Essentials of Marketing
The Projected Income Statement
Business Plan Basic Outline
The Lender's Perspective
The Investor's Perspective
Invested Funds
Types of Business Entities
Intellectual Property
