STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Douglas Muir, MBA
Mon. and Wed., 2:00pm – 3:15pm
Mechanical Engineering Building (MEC) – Class Room 339
COURSE DESCRIPTION
What image comes to mind when you hear the word business? Some people think of their jobs, others
think of the merchants they patronize as consumers, and still others think of profit. Business drives the
economic pulse of a nation. You have taken your innovative idea, turned it into a business plan, and
financed the plan; Now What? This class will teach you how to execute your idea into a viable
business. You will learn how to run a business within the context of its day-to-day operations and move
forward to make a profit from the business. This means you will learn about employee relations, legal
issues, purchasing, developing for scalability, operations, financial reporting, and much more. Whether
you decide to start your own business, work for a small family-run business, or sign on with a large
international corporation, your achievements will depend on your ability to maintain the constant pace
of change in today’s world. This course builds the foundation and discusses the strategies that allow
companies to compete in today’s interactive marketplace. You will also learn career skills that you will
need in order to successfully turn your own ideas into action.
Instructor:
Douglas Muir, MBA
Cell Phone:
904-583-3123
Email:
dam3jb@virginia.edu
Class Time:
Monday/Wednesday, 2:00pm – 3:15pm
Office Hours:
Upon Request
1
STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
COURSE OBJECTIVE
During this course, you will learn:
1. How to execute your business plan and run it for five years
2. How to keep a company fiscally vibrant via Balance sheets, Profit & Loss statements (P&L), and Cash Flow
statements
3. How to hire the best employees, navigate Human Resource (HR) laws, and execute payroll
4. How to run a company in an emergency and in an unstable economic environment
5. How to sell your company at maximum valuation
LATE ASSIGNMENT POLICY
Late assignments and homework will not be accepted. Assignments will be due by the date that is listed on the course
outline listed below.
GRADING
97-100 = A+
94-96 = A
90-93 = A-
87-89 = B+
84-86 = B
80-83 = B-
Class Participation
20%
Homework
Quizzes
Simulator
Final
20%
20%
20%
20%
77-79 = C+
74-76 = C
70-73 = C-
Being an entrepreneur is all about networking and
communications; it is imperative to practice that in this
protected environment. You will start off with 0 and build from
there; 0=absent; 1= show up; 5 = contribute; 10 = turn
conversation in class around
Exercises out of textbook
There is a quiz every 4 or 5 chapters
Wednesday, April 17th last reset
Monday, May 6th 2:00pm
TEXTBOOK
This course uses Entrepreneurial Small Business by Jerome Katz & Richard Green, Edition 3. It is available at the book
store. Additional readings, video and power points are located online at http://www.mhhe.com/katz3e and on the
Resource portion of the Collab.
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STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
BUSINESS SIMULATOR
The Business Simulator is a project we will work on individually for the first 10 weeks, and then break up into teams for
your final grade. You will need purchase a $29 subscription key to GoVenture Any Business at www.goventure.net then
go to www.GoVentureanybusiness.com create your account and log in. I will be providing you with a simulation
number via e-mail. This is a coarse requirement and will need to be completed before the first class. There is a quiz that
needs to be taken when you first start playing the simulation. This will be graded by me.
COURSE OUTLINE
Date
Class #1
Mon. Jan 14th
Class #2
Wed. Jan 16th
Topic
Introduction; review
syllabus; discuss
class objectives and
assignments
CH1-Opportunities
and Rewards
Mon, Jan 21st
Class # 3
Wed. Jan 23rd
Assignment
Prepare for Wednesday’s class (see below)
Readings – CH 1; Mini Case (Page 23)
Exercises - Skill Module 1.2 -Take the BRIE
Evaluation; Answer -CASE DISCUSSION
QUESTIONS (Page 24)
Video Case– Do-Gooders who Spread the Dough http://bevideos.mhhe.com/business/video_library/00
77267958/Disc_01/swf/Clip_01.html
SBTV – 10 startup mistakes http://www.sbtv.com/archive/117032878.html
MARTIN LUTHER KING HOLIDAY
CH2-Manageing
External Relations
Guest/Other
Go over
Business
Simulator
objectives
Discuss –
Opportunities;
Startup
Mistakes
OFF
Readings – CH. 2; Mini Case (P. 54)
Discuss Exercises – Skill Module 2.1 (p.30) Find your Trade MINI CASE
Assoc.; EXPERIMENTAL EXERCISE (P.52) –
Answer question 5 (a)(b)&(c)
ecorner – How do you Hire Ethical People? http://ecorner.stanford.edu/authorMaterialInfo.html?
mid=671
SBTV – Social Networking tricks for your business
- http://www.sbtv.com/home/homepageplayer/Today-Small-Biz-Social-Media-GameChanger-SMBs.html
3
STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Class #4
Mon. Jan 28th
CH3-Entrepreneur
Characteristics and
Competencies
Reading – CH. 3;
Exercises – Skill Module 3.1 (p.60-61) Complete
Competency Self-Assessment; EXPERIMENTAL
EXERCISES (P.75) – Answer question 1
SBTV – Managing To Do Listshttp://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-2---Managing-To-Do-Lists169837796.html
Discuss –
What makes a
successful
entrepreneur
Class # 5
Wed. Jan. 30th
CH4 - Creativity,
Opportunity, and
Feasibility
Reading – CH. 4; A Sample Feasibility Study
(Appendix)
Exercises – EXPERIMENTAL EXERCISES Answer
question 1 (P.100 )
ecorner – When do you know if you have a good
idea http://ecorner.stanford.edu/authorMaterialInfo.html?
mid=1197
SBTV – Fostering Innovation http://www.sbtv.com/archive/117029813.html
DiscussDavid Kapell
Story (Viability
of product);
Review
Sample
Feasibility
Study
Review
Class review
QUIZ
Quiz
QUIZ ON CHAPTERS 1,2,3 &4
Class #6
Mon. Feb 4th
Class #7
Wed. Feb. 6th
CH5 – Path to PartTime
Entrepreneurship
Reading – CH. 5
Exercises – DISCUSSION QUESTIONS Answer
questions 1, 2, 7 (P.149)
ecorner - Start-Up and See it Through http://ecorner.stanford.edu/authorMaterialInfo.html?
mid=2519
Discuss –
How to take a
part time
business to
full time
Class #8
Mon. Feb. 11th
CH6 – Paths to FullTime
Entrepreneurship
Read – CH. 6
Exercises – MINI CASE P.180 - answer all 3
questions
SBTV - Franchising: Do’s and Don’ts http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-6---Franchising-Dos-andDonts-169834976.html
ecorner - Do whatever it takes to stay in business
http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=658
Discuss –
How to create
a successful
fulltime
business
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STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Class #9
Wed. Feb. 13th
CH7 – Imitation with
a twist
Read – CH. 7
Exercises – EXPERIENTIAL EXERCISES p.207
Question 3; MINI-CASE p.208 Question 2
ecorner – Think Big Act Small http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=27
Discuss:
Case study
Credit Justice
Services
Class #10
Mon. Feb. 18th
CH8 – Seeing
Audiences and Your
Business Clarity
Discuss Bella’s
Restaurant
Business Plan
Class #11
Wed. Feb. 20th
CH9 – Marketing
Product and Pricing
Strategies
Review
Read – CH. 8
Exercises – EXPERIENTIAL EXERCISE p. 241
Question 1 (Score Bella’s Restaurant Business
Plan)
Video Case – Financing for entrepreneurs http://bevideos.mhhe.com/business/video_library/0
077267958/Disc_01/swf/Clip_06.html
SBTV – Business plan road map http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-8---Business-PlanRoadmap-169832756.html
ecorner – Tips for a good pitch http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=85
Read – CH. 9
Exercise – DISCUSSION QUESTIONS p.303
Question 5
SBTV – Market research –
http://www.sbtv.com/enews/news/susanssecret/How-to-Do-Market-Research-with-TaraOlson-125230569.html
ecorner – The role of market research http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=55
Class review
Quiz
QUIZ ON CHAPTERS 5,6,7,8,& 9
Class #12
Mon. Feb. 25th
Class #13
Wed. Feb 27th
CH10 – Capturing
the Eyes of Your
Market
Read – CH. 10; Business Demise article (found
online)
Exercise – DISCUSSION QUESTIONS p. 336
Question 2; EXPERIENTIAL EXERCISES p. 337
Question 6 (a)(d)
SBTV – Duct Tape Marketinghttp://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-7---Duct-Tape-Marketing-Creating-Your-Core-Message-Differentiation169833796.html
Discuss –
Marketing and
pricing a
product
correctly; how
to research
this
information
QUIZ
Go over the
discussion
questions in
class
5
STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Class #14
Mon. Mar. 4th
CH11 – Small
Business Distribution
and Location
Read – CH. 11
Exercise – MINI-CASE p371 Questions
(1),(2),&(3)
SBTV – Shopping Center Leases http://www.sbtv.com/archive/117027968.html
Discuss Wild Wing
Cafe
Class #15
Wed. Mar. 6th
CH12 – Marketing
Plans: Saying how
you’ll get Sales
Discuss CJS
Mon. Mar. 11th
Read – CH. 12
Exercise – DISCUSSION QUESTIONS p. 393 &
394 Questions (2) & (4)
ecorner – You must have Real Sales and
Customers to be in Business http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=662
SPRING BREAK
Wed. Mar. 13th
SPRING BREAK
OFF
Read – CH. 13
Exercise – DISCUSSION QUESTION p.435 & 436
Questions (1) & (8); EXPERIENTIAL EXERCISE
p.437 Question (5)
SBTV – Startup Cost http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-13---Startup-Costs169826446.html
ecorner – Keeping Financial Focus http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=864
Read - CH. 14
Exercise – DISCUSSION QUESTIONS p. 469
Questions (2) & (6) ; MINI-CASE Question (1)
Discuss Numbers from
Bella’s
Restaurant
Review
Class review
QUIZ
Quiz
QUIZ ON CHAPTERS 10,11,12,13, &14
Class #16
Mon. Mar 18th
CH13 – Accounting:
Projecting and
Evaluating
Performance
Class #17
Wed. Mar. 20th
CH14 – Cash: Life
Blood of Business
Class #18
Mon. Mar. 25th
Class #19
Wed. Mar. 27th
CH15 – Business
Finance: Using
Equity, Debt, and
Gifts
Read – CH. 15
Exercise – DISCUSSION QUESTIONS p. 503
Questions (2) & (7)
SBTV – Raising Capital: Funding for the Risk
Adverse - http://www.sbtv.com/money/cashflow/Raise-Money-for-Your-Business-with-MutualFunds.html
OFF
Discuss MINI CASE
Discuss Different types
of funding
6
STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Class #20
Mon. Apr. 1st
CH16 – Inventory
and Operations
Management
Class #21
Wed. Apr. 3rd
CH17 – Risk
Management and
Insurance
Class #22
Mon. Apr. 8th
Class #23
Wed. Apr. 10th
Read - CH. 16
Exercise – DISCUSSION QUESTION p. 529
Question (2); MINI CASE prepare recommendation
ecorner – Owning Your Product Formula http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=1455
Discuss –Go
over Bella’s
Restaurant
inventory
procedures
Read – CH. 17
Exercise – DISCUSSION QUESTIONS p. 565
Questions (2), (7), & (9)
SBTV – Stopping Employee Theft http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-16---Stopping-EmployeeTheft-169822726.html
ecorner – Fail Fast and Frequently http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=2270
CH18 – Legal Issues: Read – CH. 18
Recognizing Your
Exercise – DISCUSSION QUESTION p. 604
Small Business
Questions (2) & (4); EXPERIENTIAL EXERCISES
Needs
p. 604 Question (4)
SBTV – How to Choose the Right Business
Structure http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-18---How-To-Choose-theRight-Business-Structure--LLC-or-C-Corp-or-LLP169822316.html
Discuss –
How to
minimize risk
CH19 – Human
Resource
Management
Discuss – HR
hiring, firing;
1099 vs. W-2;
placing the
right people
on the bus
and in the
right seats
Read – CH. 19
Exercise – DISCUSSION QUESTIONS p. 633
Questions (1), (4), (7), & (9)
SBTV – How to Fire a Problem Employee http://www.sbtv.com/archive/117016973.html
STVP – Defining Company Culture http://ecorner.stanford.edu/authorMaterialInfo.html
?mid=52
Discuss –
Partnerships,
corporate
structures,
trademarks
7
STS- 2500-004 (18300) Start-Up Operations for Entrepreneurs
Class # 27
Mon. Apr. 15th
CH 20 – Achieving
Success in the Small
Business
Read – CH. 20
Exercise – DISCUSSION QUESTIONS p. 652
Questions (6) & (7); EXPERIENTIAL EXERCISES
p. 652 Question (1)
Video Case – Entrepreneurs and Failure http://bevideos.mhhe.com/business/video_library/0
077267958/Disc_01/swf/Clip_14.html
SBTV – Dissolving a Corporation http://www.sbtv.com/resources/businessassociations/entrepreneurial-smallbusiness/book/Chapter-20---Dissolving-aCorporation-169818556.html
Discuss – Life
balance;
dissolving a
corporation;
selling/
harvesting
your company
Class #28
Wed. Apr. 17th
Review Quiz
QUIZ ON CHAPTERS 15,16,17,18,19, &20
QUIZ
Group Simulation
Review
(1) Group Presentation
Class #29
Mon. Apr. 22nd
Group Simulation
Review
(3) Group Presentations
Class #30
Wed. Apr. 24th
Group Simulation
Review
(3) Group Presentation
Last Class
Mon. Apr. 29th
Running a Fortune
50 company
FINAL EXAM
Mon. May 6th
20 minute
presentation
Plus Q&A
20 minute
presentation
Plus Q&A
20 minute
presentation
Plus Q&A
Bob Collins,
President
General
Electric
2pm
8