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EMERGING ENTERPRISE CONSULTING EEE 443 Instructors: Peter SvobodaSection: A (and guests) COURSE OVERVIEW: Entrepreneurship is the key to the American dream. Sustainable growth and an enhanced standard of living for all Americans are dependent on a vibrant, growing entrepreneurial sector. There is a need for entrepreneurs with creative business concepts and the courage to turn these concepts into sustainable enterprises that create jobs for citizens and create value for customers. There is a key difference, however, between starting a business and growing one. The majority of small businesses fail to achieve meaningful growth, are marginally profitable, and operate as “mom and pop” or “hand to mouth” types of businesses. A smaller number are responsible for the vast majority of new jobs, new products and services, and net new wealth creation in society. It is this reality that lies at the heart of the Emerging Enterprises Consultingcourse. The themes of this course are innovation and sustainable growth. Our focus is to facilitate the survival and growth of existing small businesses that are owned and managed by local entrepreneurs. The course is actually organized into two major components, and these are pursued in parallel with one another. Students will be exposed to a series of modules that address various aspects of the consulting experience. These modules, and the entire course sequence, is designed around the SEE Model, which is a three-stage model intended to guide teams as they approach, decipher, and ultimately create value for the entrepreneurial enterprise. The second component involves actual consulting interventions. Students will be organized into teams of three, and each team will be assigned to one consulting client. The teams will meet regularly with each client, and, employing the SEE Model, move through an evolving series of steps which culminate in a set of value-creating deliverables for the client, and a final consulting report. COURSE OBJECTIVES: The course sequence has six primary learning objectives. Upon completion of this sequence of two half-courses, students should have developed:
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Syllabus Lecture Topics – Homework AssignmentsConsulting To Emerging EnterpriseSept 1 Week 1 - Introduction to Consulting The Basics of Consulting - Part 1. The skills you must have, the 3 different roles you can play, the 5 step model, and why giving advice is not enough, will be discussed. In addition to this, you will learn about other challenges such as finding the right words to express what is happening in the moment verbally, and in writing; the importance of the emotional side of the relationship; and the importance of discerning the 3 layers of the problem. We will also review the Cases, the paperwork that is needed, and the operation and requirements of the course. Homework:
Each student must send Resume by TUESDAY so we can assign cases Sept 8 Week 2 – Basics of Consulting Part 2 Also Using the SEE Model for Analyses; & Case AssignmentsAfter some review, the presentation will focus on more consulting concepts to prepare for the upcoming first meeting with the client. What do you say, what do you ask for; how d you explain the process; how you address touchy and sensitive subjects; how you remain authentic; what you need to notice about the management style; and how you start and end the meeting will be discussed. There will also be an explanation of the SEE Model and Cases will be assigned. You will review how to handle this contracting meeting. Homework:
Sept 15 Week 3 – Basics of Consulting Part 3 Understanding and Dealing with Resistance; From Diagnosis to Discovery: Dealing with low motivation, triangular and rectangular consulting, understanding and dealing with resistance and getting the data will be discussed further. There will also be some discussion on bridging the gap between what we know; what we don’t know; and finding out what we need to know. What else can you get from your client and what other outside sources can you utilize? What do we need to know ? How to determine the finances available for this project via bank and SBA standards and other loan and Government programs. The class will end with the class being challenged to solve a case where the client wants to establish an “eatery” type of business, where each team will post their plan on the blackboard. Homework:
Sept 22 – Week 4 – Learning How to Do Better ResearchConsulting Concept: We will review whole system discovery and how you can utilize it with your client Then Students will be given a question regarding why women buy cosmetics and the rapid growth of Nail Salons that do women’s, and now men’s nails, or determine what day is the best day to buy a car, or how to improve college education. After this , there will be a listing of several research sources, followed by an exercise; regarding retail consumer research and . students will learn how to assess feasibility for a consumer situation, and there will be a presentation regarding one of this year’s most notable books, “Freakonomics”. Homework
Sept 29 – Week 5 – Business to Business Research and Translating Findings Into Meaningful Marketing Consulting Concept: First we will review whole system discovery and how you can utilize it with your client Then teams will report on progress and problems they are having with clients. Following that we will do a business-to-business feasibility problem to learn how to make this assessment. After the assessment , we will discuss and determine how this business involving specialized engine repair for cars and boats would effectively market their business. The class as a whole or in teams will come up with a marketing schedule, and methods, by which this business will capture customers. The formulae for advertising and sales will be presented; including direct response ads and image ads; and each team will come up with an advertisement they feel would be effective to get the client’s phone to ring. Homework
October 6 Week 6 – The Importance of Marketing and Media Mix, Position, and ImageConsulting Concept: Chapter 13 and Chapter 14 People by the sizzle before they buy the steak. Sometime they buy cheap, sometime they buy premium. How can you engage them and keep them engaged? How can you control and steer the customer’s perception? Does the client need a new logo? A new positioning statement or slogan. Rules on getting the client to look good are the focus of this session. Creating the look, the image, the story and making sure your benefits and features get through. TAKE NOTE 4 th Meeting with client should be this week Homework for Next Week
October 13 Week 7 – Yom Kippur No Class 5TH MEETING with Client DUE>>>DUE>>>DUE >>> on Wednesday at 5 PM
October 20 Week 8 - Implementation and Engagement in Consulting Implementation and Engagement as described in Chapters 15,16,17 will be discussed in class.
October 27 Week 9 – Selling and Public Relations Tools & Whole system Discovery Chap 12 In this class you will learn how to construct a sales presentation, reply to objection ask for the order and put together a sales plan with a timetable. You will also learn about defining and targeting different publics and stakeholders and creating news releases, newsletters, direct mail lists, e-mail blasts and web sites as a means of communication.
Week 10 – Management, Leadership & Networking Students will receive scores on the take home tests and different thoughts on management and leadership will be discussed.
Nov 10 Week 11 – Organization and Operations Further thoughts on creating a successful organization and implementing changes.
Nov 17 Week 12 – Budgets, Financing, Financial Statements, Ratios and Bookkeeping
Nov 24 – Thanksgiving Week 13
Dec 1 – Review of Consulting Topics Week 14 – Papers Due with All deliverables
Dec 8 Week 15 - Class Presentations Each team will have 12 minutes to present their case. Briefly describe the business, the problems and opportunities, what they choose to do and why, and a heavy concentration on deliverables.
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