To the lecture from
Mr. Mogens Thomsen, Thomsen Business Information
I am proud you will use this material for your education.
Here you find a suggestion for structuring of your entrepreneurship education.
The power points follow this pattern:
• Introduce the students to what is going to happen in this entrepreneurship module
• You must create a good learning environment for the students
• Discuss entrepreneurship in general terms with students
• Help students create an idea and turn it into a business idea
• Introduce a project plan on how to start a business – the business plan
• Trust that the students can create a business plan using www.dynamicbusinessplan.com
• Coach the students while creating the business plan
• Make the students present the business plan for you and others
Read more about the entrepreneurship education concept: “Unleashing the Entrepreneurial
Spirit” at www.dynamicbusinessplan.com/entrepreneurship
www.DynamicBusinessPlan.com
Entrepreneurship module
- How to start your own business
Agenda:
1.
2.
3.
4.
5.
Presentation of the entrepreneurship module
Development of a business idea
Introduction to writing a business plan
Where to find help?
Form groups and choose the type of business to start
Entrepreneurship module, XX University
Lecture: Mr./Mrs./Miss xx
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Targets of entrepreneurship module
Objectives for students
• Feel that they dare start a business when the time is right
• Acquire an understanding about starting a business
• Understand drafting of the business concept
• Encounter problems and solve them
• Be able to present their business in a persuasive way
Learning outcomes
• Be able to write a business plan
• Create an establishing and operating budget in a spreadsheet
• Show they have solved problems / challenges
• Plan and execute a presentation of business plan
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The task: Plan start of business
1.
2.
3.
Choose type of business
Make a business plan
Present the business plan
The proces
• Common introduction
• Individual advice in study groups - app. 60 min.
• ”Stand by advice”
• Hand over the business plan to lecture
• Present the business plan in class
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Quality of the business plan
Relevant topics in the plan shall be supported by data.
Three types of data:
• Factual data
- when one table cost 500 $, two must cost 1000 $
• Estimated data
- two customers said they will buy - therefore 20 might also buy ..
• Allegations
- I just believe it is like that …
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Presentation of business plan
Max. 10 min. oral presentation + OHP / PP / blackboard
to the class and to the lecture/ invited entrepreneurs.
The following must be included:
• What does the company sell?
• Which and how many customers?
• How to come in contact with the customers?
• Turn over year one?
• Profit year one?
• Need for financing?
Questions from class and lecture/ invited entrepreneurs
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Rating of the project
The entrepreneurship module will be accepted if:
• The business plan has a certain depth
(Factual and estimated data)
• The presentation gives the audience a clear picture
of your business.
• The presentation shows that you have considered
your decisions
• It is OK if the conclusion is not to start the business
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Teaching material
Go to:
• www.DynamicBusinessPlan.com
Here you will find:
• Template for a Business plan - word
• Establishing budget - excel
• Operating budget – excel
• Online business plan information
Reading:
• Book: The Dynamic Business Plan
www.DynamicBusinessPlan.com
Entrepreneurship in our country
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Definition of an entrepreneur
Entrepreneurs in your family?
Top three entrepreneurs in the country?
What makes a good business?
Room for more entrepreneurs in the country?
Government effort to promote entrepreneurship
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Development of business idea
-
work in study groups
• Discuss the use of a mobile phone:
- two years ago
- to day
- in three years
Can you ways to profit of the mobile market in three years?
•
•
•
•
•
What type of business do you prefer the most?
Where do you find most customers to day?
Where do you find most customers in two years?
Each group discus their business idea
Each group create a business idea in group work
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Three steps to start a business
Three ingredients must be present to start a business:
+ Be creative
(combine known things in a new way: an idea)
+ Be innovative
(the found idea must be useful for customers)
+ Entrepreneurship
(carry out the useful idea in real life, action!)
= Start of a new innovative business
A business plan helps you describe the new business
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Business plan
- items you must know about:
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Download business plan template: www.dynamicbusinessplan.com/downloads
Personal resources
• Your family network
• Economy
• Education in the field
• Know-how about the product/the services
• My weak points in relation to the business
• My working tasks in the business
• Future prospects for business size
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Product or service
• Products/lines/service – 1 - 2- 3
• Differences compared to your competitors
• Purchase frequency/product life span
• Calculation of product/service
• Price of product
• Purchase price
• Name of contractors
• Kind of distribution of the product
• Other businesses in this trade
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Market – who will buy?
• The typical private customer
• The typical business customer
• Geographical limits
• Realistic number of customers
• Average consumption in cash per customer
• Important competitors
• Competitive parameters on the market
• Possibilities on the market for your business
• Threats that may destroy the possibilities
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Sales and Marketing
• Direct mail
• Internet
• Customer visit
• Telephone sale
• Advertising
• Publications
• Signposting
• Presentation material
• Trade Fair
• Public Relation (PR)
• Opening market activity
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Management and Organisation
• Name of business/address/phone no/
• Legal status of business
• Owners
• Bank
• Accountant
• Business policies
• Accountancy and administrative routines
• Write letters
• Telephone reception
• Insurance subscriptions
• Business partners /consultants
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Business Development
• Business appearance in three years?
• The product or service in three years?
• Customers in one and in three years?
• Financial forecast for year three?
• Other goals with your business?
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Budgets and Financing
• Establishing budget
• Operating budget
• Cash Flow budget
• Financing
+ Necessary establishing capital
+ Necessary liquidity
= Total funding needs
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Annual accounts - profit & loss
Turnover/sale
- Used goods /variable costs
= Gross profit
- Fixed costs
- Interest
- Depreciation
= profit = your salary
• Personal tax is paid on the basis of the company´s profit
• Accounts and budgets are always without VAT/sales tax
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Profit & loss statement
- Accounts for a small building company, 2014
Turnover/sale
- Use of goods
= Gross profit
- Fixed costs
- Interest
= Profit = Your salary
442.000
145.860
296.140
97.116
0
199.166
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- core business plan knowledge
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Business Plan answers
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www.dynamicbusinessplan.com/three-important-budgets
First work task:
Decide your business idea
Task:
• Decide which kind of business you will start ?
• Describe the business in four lines and hand it over to the lecture at
the first meeting
Inputs:
• Build on your own experience - business as leisure
• Build on what you find interesting, fun or challenging
• You could assume you have specific education or contacts
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Second work task:
Individual coaching in study groups
The study group gets the chance to talk lecture for app.
60 minutes.
The lecture and the study group will among other things
discuss:
• What will your business sell?
• Which and how many customers?
• How do you get in contact with customers?
• Turnover year one?
• Cost year one?
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Teaching material – once again
Go to:
• www.dynamicbusinessplan.com
You will find:
• Template for a Business plan - word
• Establishing budget - excel
• Operating budget – excel
• Online business plan information
Reading:
• The book: The Dynamic Business Plan
www.DynamicBusinessPlan.com