Session 3 SUMMARY

Session 3 Assignments and Summary takeaways

TO DO: WEL  Students paste the bullets from your In-Class Quiz Presentation on this post. List your topic, team members (first names only), and your summary bullets.

SESSION 3 PPT

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Here are all Session 2 assignment links:

1. Venture Concept Plan draft

-DUE: 1 PAGE BY WEDS 9AM-in BOX @ 315 FUNGER

http://welgwu.wordpress.com/2009/01/30/session-3-assmt-venture-concept-plan-draft/

See reading in this section on form of business

2. Skill Building – Doing Research

-READ: About research (docs online)

-BLOG: About research skills/experience before next class

http://welgwu.wordpress.com/2009/01/30/session-3-assmt-research/

3. Reading

Essential of Entrepreneurship, 9th edition – Chapters 8 & 9 (1-4 should have already been read)

4. Mentor Selection

5. Peer Forum

Provide feedback on your classmates’ cases

http://welgwu.wordpress.com/2009/01/30/session-3-assmt-peer-forum/

Missed a class? Be resourceful – review blog thoroughly and look on Facebook for your classmates to get notes.

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The above is DIFFERENT and MORE CURRENT than the course grid. Please follow the ABOVE assignments.

GW WEL STUDENTS: When posting your comment, please type the following in the NAME section: “WEL” {space] Your First Name”.

Session 3 Assmt: Peer Forum

5. Provide online feedback: Peer forum

Act as a peer mentor / forum member / personal board. Read the following two cases and provide advice to each on this post as a comment.

Follow these Guidelines:

- If you have advice: Use “I” statements. Share experience, not advice. Your feedback should share similar experiences and what you did, not “you should” advice for the case protagonist. Share what you feel comfortable sharing.

- If you have comments in praise or how the case impacted you – feel free to share.

- Place the protagonist first name prior to your answer

- Type “WEL” in front of your first name in the name section of the comments form

- Give it some mental real estate

Peer cases for this week (recommendation – LOG IN FIRST):

Catina Case

Heather Case

Krissy Case

You will need to log in to see the entire case and benefit from the full features (appendix, discussion questions, Facebook links, etc.)

GW WEL Students: Type “WEL” followed by your first name in the name form. NOTE: If any information is confidential, let Prof Frey know and we will create a separate confidential blog.

Session 3 Assmt: Research

2. Skill Building – Doing Research

-READ: About research (docs online – below)

-BLOG: About research skills/experience before next class.

Question to answer: What sources did you use in researching the market for your venture. Comment on your experience.

Documents to read (feel free to do your own search on market research, as well, in addition to referring to text)

Market Research Overview

The below are changing all the time, consider it a first step (reading doc), then explore further on your own.

Library Resources

Research Guides

Suggested Resources

As usual, WEL Students: Place “WEL” before your first name in the blog post. For Privacy, do not place your last name.

A note on PRIVACY:

We are using the blog as a “gathering point” for your bios only. They will be removed when we compile a master document for the class and class mentors only.

Also feel free to change your case name to include only your first name and last initial or something similar. It’s up to you.

Session 3 Assmt: Venture Concept Plan Draft

Venture Concept Plan draft

DUE: 1 PAGE BY WEDS 9AM-in BOX @ 315 FUNGER

In one page, describe the following about your venture.  Use the below categories and don’t forget to include your name, date due,  and date turned in. BOLD THE HEADINGS BELOW in your plan.

The idea can be from your Mind Mapping exercise in Session 2, or an entirely different idea. Try to focus on one idea NOW so you are not changing your idea mid-semester.

CATEGORIES:

–

• Concept
• Value proposition
• Value model
• Form and legal structure (brief)
• Other relevant details that will be further explored in later plan sections

Hints:

Concept – similar to Mind Mapping “What is my idea”

Value Proposition – refer to Session 3 PPT Slide 14. Filling a need / space in marketplace, defining this “space” &  being different, better. Re “space” and defining your market – see SKILL BUILDING assmt for this week on research.

Value Model -  refer to Session 3 PPT Slide Slide 15 and 16. Recall .50 cents / $1.00 example. Multiple revenue streams example. How are we creating MEASURABLE value?

Form and Legal Structure – read handouts. Links below:

Choosing a Business Structure

Not-for-Profit Structures

Other relevant details – See “snapshot” of feasibility plan on Session 3 PPT, Slide 23. Remember discussions re: team, scale, marketing, operations (how to, every day), exit (see stock photography example Session 3 PPT).