+

To Plan or Not to Plan

Business Plans for Early Stage Entrepreneurs

+Let’s Say You Own a…

What considerations are needed to be successful?

What are the implications for success?

What are the barriers to success? http://youtu.be/MUcpCB7Wls8

+ BUSINESS PLANSAnswer CORE Questions:

What does the business do?

Who is involved?

When is the right time- NOW and why

Where does the business operate?

Who is target customer?

Why is this a reasonably good idea?

+Now Let’s Examine What Business Plans Do…PRODUCT SELECTIONWhat will my business do or sell?

Business concept worksheet

Think it’s just that easy?

http://youtu.be/r1NkUJRqLT8

+Recruiting Your Posse

+SABOTAGE: It can happen to you

http://youtu.be/tIvPxbDKMrQ

http://youtu.be/EVjs9kaYTlk

http://youtu.be/i2QiYeAxbLQ

+Assemble Your Dream Team

Do you want to work alone or in group? What are the implications to your decision?

Who are your outside advisors going to be?

Who are your “virtual” advisors going to be?

This will be your leadership team for the rest of the camp, so choose wisely.

+Collaboration Exercise- 15 minutes

Take out the business concept worksheet you developed.

THEN…

If you want to work alone then go into the computer lab or other area of the building and complete the Dream Team slide questions.

If you desire to collaborate then remain in room 200 and circulate with other entrepreneurs to see if you want to join their business or they want to join yours.

+Making it Legal

Let’s look in depth at how businesses are organized in the US

Think about how businesses form and why someone would choose one form over another based upon their individual business situation

+Keeping it Legal

Taxes Sales & Use Employment-related Self-Employment or Corporate

Businesses with Restrictions/Regulation

+

Zalad AssignmentPlease divide yourselves into teams of 3-4 people each and await the assignment from your new boss…

+

Welcome to Green Acres Inc.

We are a well established chain of restaurants that specialize in fresh, natural salad entrees.

You have been hired as consultants to develop a new menu item for our restaurants.

You will have 30 minutes to brainstorm a new dish called Zalad! All the ingredients are provided on the list for you to use as part of your creation.

You will then have 15 minutes to prepare your presentation for a taste testing audience. Part of your team will be preparing the Zalad while the others will do the marketing support materials.

+

Your Objectives

1. Develop the most appealing Zalad for your taste testers.

2. You will also have to present signage at your table that tells us what is in your dish, who is the target market, and briefly why your dish is the best.

3. Then the taste testers will have 3 comment cards representing their votes for the best new products- the table that receives the most cards is the winner.

+And the Winner IS!

50 points are up for grabs in this mission.

You get 10 points for simply creating a new Zalad.

The top creation according to the taste testers will get 10 points.

You get up to 10 points for your table decoration and appeal to the customer.

You get up to 10 points for your ingredients list & key points.

Your boss (the instructors) can award up to 10 points to each individual based on their team work and creativity.