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Discussion 1.2: Business Idea vs Opportunity (one page )
Prompt:
What are the implications of developing a "business idea" vs a "business in response to an entrepreneurial opportunity?"
Assignment 1.1: Business Plan Competitions Report (one page)
Submit a one (1) page report of current business plan competitions that award prize money; And, of which you are currently eligible to compete in (and win). Include descriptive and informative information in about 2 to 3 lines of written text on each identified competition. Information should include size of awards, eligibility criteria, how many prizes awarded, deadline, submission requirements, dates of eligibility. Submission requirements information should be very detailed on where and how to submit
Submission requirements:
1. 12-point font.
2. Single space.
3. Put your name on the sheet.
4. Number bullet your findings.
5. Fit as many findings as you can on one page.
6. When you have completed your search and submitted your assignment here, please go to the next page, "Business Plan Competitions - Class Database" and contribute at least one competition you found, that you believe will be beneficial to share with your classmates.
Entrepreneurship Pre-Test (ANSWER ALL THE QUESTIONS)
Value: points (Extra Credit) toward your Presentation projects
Instructions
This exercise is designed as an impromptu activity. Please answer each of the following in a brief video and post your completed video to your YouTube account (as outlined in the previous Preparing for Your Presentation Recordings page). Under Privacy Settings, select "Unlisted" from the dropdown menu.
NOTE: This exercise is meant to gauge your current knowledge of entrepreneurship. There is no penalty for answering any questions incorrectly. Please do not research the questions prior to answering. Instead, answer each question as best as you can in a free flow manner.
Your spoken response for the all of the questions combined should take no more than around 5 minutes.
1. Explain financial statements for new ventures.
2. What are some alternative means to funding a new venture?
3. Explain opportunity recognition and how a person can increase his/her chances of doing so
4. Explain feasibility testing for prospective entrepreneurial opportunities
5. Explain the alternatives for choosing a legal form for a new venture (e.g. A C–Corporation is one legal form of business).
6. Explain intellectual property considerations for a new ventures
7. What are the pieces of a Business Plan, and why should one be written?
8. Explain franchising as it relates to new ventures
9. What things should be considered when a person is building a new venture team?
10. Define at least 5 of the following:
. Skin In The Game
. Sweat Equity
. Bootstrapping
. Seed Capital
. Venture Capital
. Angel Investing
. Adverse Selection
. Moral Hazard
. Agency Theory
. Corporate Opportunity Doctrine
Assignment 1.2: Class Blog - Entrepreneurial Opportunities ( one page)
Due Date: Submit blog entry by end of Day 5; comment on at least two classmates’ entries by end of Day 6. Value: 100 points
In one or two succinct paragraphs, describe a prospective entrepreneurial opportunity that you plan to pitch to your classmates for possible development in this course. To post your blog entry, click Create Blog Entry above. Please note that once you submit your blog post you will not be able to edit or remove it.
Important note: You will be required to submit a 90-second video pitch based on this idea by the end of Day 1 in Week Two. In this course you are required to produce a total of four video pitches. The page titled "Planning Ahead: Presentation 1" in the Week One course content area provides an overview of the four pitches.
