Business Planning-Vision The Future

Instructor:Dr James V. Dupree

Office: HAL 371

Mail Box: #2670

E-mail: jvdupree@gcc.edu

Office Phone:724-458-3354

Home: 724-458-4674

Office Hours: M through F 8:30 a.m.-9:55 a.m.

Welcome to business planning, visioning the future and to the life of an entrepreneur/small business owner. Over the next few weeks you will have the opportunity to bring together your dreams, your current knowledge of the business or non-profit, and the resources of this seminar in order to create a realistic, viable, and “fire”-tempered business plan. You will have begun to identify the necessary resources for your startup, and determined whether or not you wish to begin this adventure.

In our seminar I play the roles of professor, small business advisor, member of your board of advisors, and lead investor. Because this business planning seminar involves less traditional lecture, more discussion, and a great deal of individual work, you bear a greater responsibility for self-management than in other G.C.C. course. It is my expectation that you will carefully read and follow this syllabus where procedures are established. Where they are not, show initiative.

Course Objectives

1. To germinate and clarify your idea for a business or non-profit to the point of being explainable in a paragraph.

2. To write a complete formal plan for a viable business.

3. To develop your small business research skills and develop a database of human and other resources necessary to begin your business.

4. To learn how to effectively present your business idea to your peers and potential investors.

5. To identify areas of strength and weakness in the skills and knowledge to run your business or non-profit and develop strategies to exploit the strengths and compensate for the weaknesses.

6. To begin the development of your entrepreneurship network.

7. To decide if you really want to invest yourself in this business or nonprofit dream.

8. To have fun while increasing your confidence in decision making, in communication skills, in interpersonal skills, and in realizing you have what it takes to start your own business.

My Expectations

1. Required texts

Ø Alpha Teach Yourself Business Plans in 24 hours, by Michael Miller

2. Personal Responsibility

Ø You will manage your time and assignments in order to meet all due dates.

Ø You have read and understand the G.C.C. Honesty in Learning Policy and our new Plagiarism policy.

Ø You bear great personal responsibility for self-management. This syllabus is your contract for the course. However, where procedures are not established use your own initiative.

Ø This class will be conducted as a seminar, which means the exchange of information and informed opinion--be prepared.

Ø You will ask questions in person or via e-mail when you have them.

Ø You will choose to be honest and conduct yourself in an honorable and ethical manner and if you have firsthand knowledge that another student is not, you will inform me so that I may take appropriate action.

3. Working with your Entrepreneur Advisor

Ø You may have the opportunity to seek the advice and guidance of an entrepreneur advisor.

Ø As I am able, I seek someone who has started and is or has run the type of business or non-profit you are planning for.

Ø You may choose to have an advisor or not.

ü These individuals have volunteered their time out of a desire to help you.

ü Do not ask for an advisor unless your really want one.

ü If you choose to work with a entrepreneur advisor you are expected to have weekly contact with them, use them as a resource, a sounding board, and guide.

ü They will offer their advice. Ask questions, discuss and evaluate it and then use it as it makes sense to you.

ü Please remember to conduct yourself as a representative of Grove City College in all of your interactions and communications with this mentor.

ü Report any concerns immediately to me, not being able to reach them, etc.

ü If you submit your plan for the plan competition this advisor will be your one outside G.C.C. representative permitted on your team.

4. Using Blackboard

Ø We will be using Blackboard for handouts, communication, testing, etc., in this class. Your assignments will be submitted via Blackboard. Please log on ASAP.

Ø Check your e-mail a minimum of twice a week; any new messages will be posted by 5 p.m. each day.

5. Attendance

Ø You will have more freedom in this class than in any other due to our one day a week meeting, therefore being present is critically important.

Ø As an entrepreneur you need to effectively manage your time as this class will be very demanding on your schedule.

ü As this class only meets once per week, missing one class equals a week of normal class. Therefore you only have one free class absence, after which your (final grade) will be reduced $5000 or ½ grade for each additional unexcused absence.

ü Also, lateness to class constitutes 1/2 of a miss. By lateness I mean not seated when class begins. If you have a problem, call me. I’m in my office until class starts.

ü Excused absence means either an excuse from Zerbe Health Center for illness or an excuse from Student Affairs or the Dean's office for college-approved functions. If I don't have documentation, the absence is not excused.

ü While there are legitimate excuses to miss class, there are no make-ups for missed assignments. All work must be completed/turned in as scheduled, even if you aren't present.

ü I am no longer accepting excuses for job interviews unless they are out of town. You need to schedule job interviews around class.

6. Personal Integrity

Ø Essentially the only thing we “own” is our reputation, our personal integrity.

Ø Please don’t damage yours over something as insignificant in life as a grade.

Ø Please do NOT fall into any of the following behaviors:

ü Plagiarism is a serious violation of moral and academic principles. It involves claiming as one’s own original work the ideas, phrasing, or creative work of another person. As such, plagiarism is a direct violation of the biblical commandments against stealing, bearing false witness, and covetousness; thus, the Grove City College policy. We encourage our students to think seriously about the demands of their Christian faith in regard to this issue.

ü Having someone else advise or guide you through suggesting decisions for you on the simulation, case studies, or exams. Decisions on the simulation, case studies, etc., must be by you.

Ø I subscribe to the Honesty policy as recorded in the Crimson.

7. Learning Disabilities

Ø Some of us, I am one, have a learning impairment, something that makes it more difficult for us to learn than for others. [Difficulty getting up in the morning doesn’t qualify J.]

Ø If you believe you have such a condition please see Ms. Betty Tallerico in the Provost’s office as soon as possible.

Ø Once this condition is verified I will accommodate your needs as best I can, but I must have formal verification from the College before I can do so.

Ø I note this policy both to encourage you to explore this possibility if you feel you have the need and to establish a policy for fair treatment of all students.

Assignments

1. The Written Business Plan

This is the primary assignment and focus of this seminar. At semester’s end you will have a complete, professional, bound plan to be presented, in written and oral form, to a review team of “potential investors” in a one hour meeting.

Ø All students will complete and submit an entry form for the G.C.C. business plan competition.

ü If you are selected as a finalist you will receive an automatic maximum score for your plan.

ü If your plan is selected you will have to present your plan during Parent’s Weekend.

Ø You may create your business plan individually or in a team.

ü All team members do NOT have to attend this class.

ü No more than one non-Grove City College full-time student may be on your team.

ü I reserve the right to limit the size of your team.

Ø You may be matched with an entrepreneur advisor.

Ø You will submit segments of this plan in draft form as we proceed through the semester.

ü Please note the submission schedule on the seminar calendar which follows.

Ø Each segment is graded on completeness and thoroughness and with the understanding there may need to be additions, modifications, etc.

ü These are graded as A-C, or I for incomplete. Two “I”s lowers your final plan grade.

Ø The final form of your plan will be somewhere between 20-40 pages in length depending on the type of business, the financials, and the necessary detail—equipment lists, store/resturaunt layouts, startup inventory lists, etc.

Ø Unique to the class nature of the seminar your plan will include a 2-3 page, single-space personal reflection on what you learned from this process.

ü This document will be a separate stapled paper with a cover sheet.

ü It should be inserted inside the front cover of one of the bound copies.

ü It will also be submitted electronically in a Word file.

Ø You will submit three (3) bound print copies and one electronic copy your plan.

ü Ideally your electronic submission will be one file combining text and financials.

ü However, the text of your plan may be in one Word file and the financials in a separate Excel file.

2. Presentation of the Business Plan

Ø Your written plan will be reviewed by Dr. Dupree, Mr. Joe Cicero, and an entrepreneur in your field of business.

Ø You will prepare a PowerPoint-based professional presentation as your final exam.

Ø This presentation will either be to your class during the final exam period, or if selected as a finalist, to the G.C.C. panel of Parent’ Weekend.

Ø Regardless of when you present you must be present for the presentations and complete a critique of each presentation.

3. Participation and discussion

Attendance at the G.C.C. Business Plan Competition Finalist Presentations

Ø All students will be expected to attend these presentations on Parent’s Weekend.

Ø You will complete a critique on each presentation, including non-class presentations.

Ø The quality and thoroughness of your peer critiques of these presentations is part of your participation and discussion grade.

Discussion and Peer Critiques of Business Plans

Ø It is important that you do the reading and prepare the portion of the plan due for discussion for each class.

Ø There will be significant discussion in this class, please be prepared to take part.

Ø You will observe the final plan presentations, participate in questioning the student entreprenreurs, and complete a short written “peer” critique of each plan.

Attendance at Presentation by Ms. Patricia Lee on March 17^th.

Ø Ms. Lee won Entrepreneur of the Year award and is coming to campus to speak.

Ø She will be addressing some classes, small groups, and offering a speech in a large public forum.

Ø As part of your participation grade you must attend one of her presentations.

ü You must turn in a 3x5 card to me or my representative.

Ø You must write a 1-2 page review of the presentation or discussion highlighting the topic or topics, Ms. Lee’s position, and your response.

ü This will be due March 25^th, you have one week after her presentation to submit your paper.

4. Midterm and Final Exam

Ø The midterm will be 40 objective questions and 2 essays from a pool of 5.

Ø The final will be comprehensive and be 50-60 questions and 3 essays from a pool of 6.

Ø I post a pool of essay questions each Friday afternoon on Blackboard. This pool will grow, averaging 1-3 questions per seminar.

Ø I will take the 5-6 essays that will appear on your exam from this pool. You will answer either 2 or 3 depending on the exam.

Ø Studying and preparing answers to these questions will prepare you for the essay portion of the exams.

Ø If you miss an exam you may NOT be able to make it up.

Compensation (Grading)

1. Your "salary" (grade) during the semester is approximately $100,000. Because your "salary" is merit-based, you get "paid" based on your effort. Everyone can earn an A and everyone can fail. There is no curve.

2. General criteria

Ø Following of instructions, quality of work.

Ø Quality of writing; spelling, grammar, syntax, etc.

Ø Oral expression; correct usage, absence of slang, etc.

Ø Timeliness to class, of all assignments.

Ø LATE ASSIGNMENTS WILL BE PENALIZED ONE GRADE FOR EACH DAY LATE. PLEASE, WITH BLACKBOARD CAPABILITY THERE IS NO REASON FOR YOUR WORK TO BE LATE.

3. Grade appeals – The grades are yours, you earn them. You may, of course, discuss and question any grade, based on the following ground rules.

Ø All questions must be raised within one academic week of the return of the assignment.

Ø You may ask for clarification or explanation of any grade.

Ø It is best if you e-mail me your concern, your rationale for a grade change and let me research the details prior to meeting. Remember I’m grading hundreds of student assignments and may need to refresh my memory. J

Ø Grades are only changed if:

q there is a mistake in mathematics.

q something was missed or overlooked by me when grading.

q there is an error in the key for a quiz or something similar to that.

Ø You may appeal your final grade for the class to the Dean if you are not satisfied with the results of any discussion we have. The Dean only reviews the circumstances of the course grade, not individual assignments.

4. Grade Scale – Your compensation (grade) is built on personal effort. The points to grade scale is:

A A- B+ B B-

$93000 or 93% $90000 or 90% $88000 or 88% $84000 or 84% $80000 or 80%

C+ C C- D+ D D- F

$78000 or 78% $74000 or 74% $70000 or 70% $68000 or 68% $64000 or 64% $60000 or 60% $59990 and down

5. Specific criteria

Track your own income (grade) using the following table:

Ø Business Plan (written) (30%)_________/$30,000 = _________

Ø Business Plan presentation (oral) (20%)_________/$20,000 = _________

Ø Midterm exam (15%)_________/$15,000 = _________

Ø Final exam (20%)_________/$20,000 = _________

Ø Discussion/participation/critiques (15%)_________/$15,000 = _________

Ø Absence from Business Plan Competition _________/-$ 5,000 = _________

(Deduct - Adjustments/Penalties) - _________ = _________

Ø Total _________/$100,000 = _________

Each excess absence results in a deduction of $5,000 (or ½ grade) per additional absence from your final participation grade.

Semester Calendar

This schedule is subject to change. It may be adjusted due to circumstances beyond our control.

All assignments are due prior to class via Blackboard

Date	Content	Reading	Assignments Due
Wk 1