Chaminade University of Honolulu
Course: ENT401 Fall 2016 Entrepreneurship – Applied Concepts and Practices

Instructors:	Peter Rowan
Phone: 206-954-1973
E-mail: peter@interactivestrategy.com;

Class Time: Proposed Time – Thursdays 2:30-5:30
Class Location: Kieffer Hall Room 9?
Office hours: By appointment

Course Description:
The primary focus of this course is the application of the lean start-up methodology to the development of a new business venture. Students will learn how to use evidence-based methods to validate their business ideas, identify target customers and develop a stream-lined business plan appropriate for early stage efforts. Additionally, students will prepare a “pitch” presentation for their business and present it to interested parties at the culmination of the fall program.   Results of these efforts should lead to a “go-to-market” opportunity for the students during the spring as part of ENT 402, during which students will further develop, as well as implement the next phase of their ventures.

The course is designed to maximize in-classroom discussions and strategic decision making regarding each venture with a bias toward action, the goal being to minimize lecture time in favor of practical work on these projects. Through in-class discussion, required reading assignments, recommended articles and other external materials (videos, online courseware, etc.), we will learn to assess the feasibility, risk and opportunity of a business as well as prepare ourselves for launching our ventures, funding growth, as well as achieving that growth. We will also examine in detail, real-life “best practices” of successful new ventures.

Requires ENT301 as a prerequisite (unless exempt by the director). Builds upon the concepts discussed in
ENT301 and applies them to real business situations.

General Purpose of the Course:
This course is a second level entrepreneurship course that is highly practical and hands-on. It will provide the participants the opportunity to apply the various skills, knowledge and behaviors of entrepreneurship explored in ENT 301. This course provides the opportunity to further develop these skills and apply them at a practical level.

Course Objectives:
When you have completed this course you should be able to:
•	Develop a new venture business model and plan.
•	Develop and deliver a new venture pitch.

Grading:
Success in the course is dependent on team work as well as individual and group time management. The proportion that each of the above contributes to your grade is as follows:

Required Reading Exercises (50 points each)	100	
1 Team Business Plan Development Project	150	
1 Team Plan Presentation	100	
Attendance and participation in class discussions, project and activities	150	
TOTAL	500 points
450 - 500 points = A
400 - 449 points = B
350 - 399 points = C
300 - 349 points = D
<300 points = F

Course Atmosphere & Expectations:
This course is highly interactive and participatory. The course design involves both individual and cooperative learning. Additionally, extensive interaction with the external business community through the business plan projects should be anticipated. Come to the class expecting to gain a significant amount, if not all, of the practical experience necessary to be launch a new business venture

We encourage you to actively question the presented material, thinking creatively, analytically and logically and contribute to the learning environment for your classmates. We expect you to attend class, fully prepared to discuss any assigned and/or recommended readings for each class. On team projects, do your part, be a leader, learn from mistakes, incorporate constructive feedback and adapt. 

Entrepreneurship is hard. So is life, particularly the work part of it. You will be reliant on your team in whatever area you pursue, and expected to carry your weight in that pursuit. That said (by Woody Allen), eighty percent of success is showing up. This not only means that you must show up for class but you must demonstrate your presence through class participation.

Course Materials:

Required: 
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. By Eric Ries. 

Free Course: How To Build A Start-up
https://www.udacity.com/course/how-to-build-a-startup--ep245
We will use the videos from this free course as the primary “lecture” material, reserving classtime for discussion and application. All of these videos are also available on Youtube. Watch them!

Recommended:
The Start-up Owner’s Manual: The Step-by-Step Guide for Building a Great Company. By Steve Blank and Bob Dorf. 

Other Important Resources/Articles:

Steve Blank’s Tools and Blogs for Entrepreneurs
http://steveblank.com/tools-and-blogs-for-entrepreneurs
An endless resource on the entrepreneurship ecosystem. 

Venturehacks.com
http://www.venturehacks.com
A great, irreverent resource for start-up founders.

In addition, spreadsheet templates and other tools may be used to practice business planning, business start-up and operations management skills.

Selected Readings: Additional readings or reference materials will be recommended and either provided, placed in the library on reserve or be optional.

Course Components:
In Class activities
Individual and team exercises and projects
Presentations
Field trips

In Class activities:
A variety of exercises will be conducted during the class time to provide the opportunity to practice new concepts, skills and knowledge. These exercises are not graded but will be useful skills that will be applied to assignments.

Field Trips:
Field trips are planned. These may or may not be taken within course time. The focus of these trips will be to examine specific business operations and/or other small business resources.

Rough Course Schedule:
The course schedule provided below is meant to be used as a guideline. While we will try to adhere to it as closely as possible, there may be particular topics that could take more time and others that may be added or changed. This flexibility allows us to flow with the students’ interests and best meet your needs.

You are responsible for learning all the information in the outline.

•	Identify problems and develop business solutions to solve the problems
•	Analyze real business situations to identify challenges and develop potential solutions
•	Understand & be able to discuss business start-up and operation decisions for running a small business
•	Understand and be able to discuss the basic financial components of a business and how they may be analyzed for making business decisions
•	Determine costs, sales projections and cash flow statements
•	Set pricing for products/services
•	Make and implement marketing decisions

	Topics 	Assignments	
Week 1 
(August 25)	•	Course Overview	Syllabus Review/Discussion	
Week 2 	•	Why the Lean Methodology
•	Idea Generation and Validation
•	Your Elevator Pitch	Read: LS Introduction
Watch: SB Lessons 0&1 Videos
	
Week 3 	•	Market Analysis Approaches
•	Value Proposition
•	Elevator Pitches	Read: LS Part 1
Watch: SB Lesson 1&1.5A/B
Customer Interviews
Prepare 2 Minute Pitch	
Week 4 	•	Market Segmentation
•	Project Updates/Discussion	Watch: SB Lessons 2&3
Customer Interviews	
Week 5 	•	Customer Development
•	Project Updates/Discussion	Read: LS Part 2
Watch: SB Lessons 4&5
Customer Interviews	
Week 6 	•	Product-Market Fit
•	Project Updates/Discussion	Watch: SB Lessons 6-7
Customer Interviews	
Week 7	•	Business Models
•	Project Updates/Discussion	Read: LS Part 3
Watch: SB Lesson 8
Customer Interviews	
Week 8 	•	Team & People
•	Project Updates/Discussion	Due: Business Plan Outline
	
Week 9 	•	Marketing Plan: What, Why and for Whom
•	Project Updates/Discussion	 	
Week 10	•	Intro to Venture Finance
•	Unit Economics
•	Project Updates/Discussion	Read: Finish LS
Due: Draft Marketing Plan	
Week 11 	•	Financial Modeling
•	Modeling Workshop	Due: Unit Economics	
Week 12	•	The Whole Business Plan	Due: Draft Financial Model	
Week 13 	•	On Pitching	Due: Draft Presentation	
Week 14	•	Final Presentations	Final Plans Due