Where Business and Engineering
Collide
Entrepreneurship Resources
Created by Megan Sapp Nelson, Asst. Professor of Library Science, Purdue University
Libraries, 2007. All rights reserved.
Objectives
• Identify information gathering steps to
create a business plan
• Identify resources that will supply
needed information
• Discuss how different types of
information combine to create a
business plan
• Identify Purdue University resources
relevant to entrepreneurs
What information is needed to create a
business plan?
• Idea
– Prototype; Samples; Other Assets
• Location
– Foot or web traffic; Tax breaks; Fixed expenses;
zoning laws
• Market
– Demographics of area; typical customer;
Population of area; Need for service; Desire for
service or product
• Competition
– What is your competition, nearby and online?
What strengths does your business have? What
opportunities? What weaknesses? What threats?
Still more useful information
• Legal background – Protect your business by
finding out what codes and legislation your
business falls under.
• Government assistance – Does you business
qualify for federal assistance or contracts?
• Financial information – How do you find
investors and “angels”?
• Ethical considerations – Will the community
accept your business? Are there additional
steps you must take to act ethically (buy
liquor license, receive training in CPR) etc?
Entrepreneurship 101
• So you’ve got an idea….
• An entrepreneur is someone who
comes up with an idea, and starts a
business based on that idea.
• How do you begin the process of
starting a business?
The idea
• Have the product designed
– Use articles (databases available here) to
build technical background
• Design product or service
– Create a design drawing of the product
– Create a flow chart for service
• Create a parts or components list
(including price)
– Use CatalogXpress to check parts
catalogs from manufacturers around the
country
The idea
• Is the idea patented by someone else
already?
– http://www.uspto.gov or come to the
Engineering Library where the librarians
can help you run a subject search
• Have you proven your concept?
– Have a prototype built (for product)
– Locate machine job shops using
• Thomas Register of American Manufacturers
on CD-Rom at Management Library or
Engineering Library
The Location
Where should you locate?
– City government – zoning laws and tax
assistance
– Statistical Abstract of the United States
– Census Bureau
– Local Chambers of Commerce - Real
estate costs; Tax information; Zoning laws
– Economic Development Corporations
Your Market
• Who is your target market?
– Demographics of area from Census
Bureau’s American Fact Finder
– Interviews with potential customers
– Interviews with owners of competing
businesses – who is their typical customer
– Market Research Academic
– Local Economic Development
Corporations
– State business statistics – Indiana Business
Research Center
– State demographics - STATS Indiana
Your Competition
Is this an industry or area that is growing in your
loation? Nationally? Internationally? How
much competition is there?
–
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–
–
–
–
–
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The phone book
The local Chamber of commerce
Bureau of Labor Statistics
Business & Industry database
US Global Trade Outlook (MEL Gov Docs C61. 34/3)
Trade associations for your industry
Newspaper, Trade Magazine and Journal
Articles
Bizstats.com
Legal Details
• State codes and regulations –
biz.in.gov
– Business Owner’s Guide to State
Government
– An Entrepreneur’s Guide to Starting a
Business in Indiana
• Federal Codes and Regulations
– Federal Code of Regulations
– OSHA
Financial Information
• Government assistance
– Small Business Administration
– Federal Business Opportunities
– Buy Indiana
• Angel investors
– Angel Capital Association
– Van Osnabrugge, M and Robinson, R (2000). Angel investing :
matching startup funds with startup companies : the guide for
entrepreneurs, individual investors, and venture capitalists. San
Francisco, Jossey-Bass.
• Venture capital
– National Venture Capital Association
– Gladstone, D (2002). Venture Capital Handbook.
Englewood Cliffs, NJ: Prentice Hall.
Putting it all together – the
Business Plan
• Finding samples:
– Business Plans Handbook. (1995-) Detroit, MI: Gale Research, Inc.
– Business Plan Templates
• Entrepreneur.com
• Morebusiness.com
• Small Business Administration
• NEBS Business Plan Template
• Bplans.com
• Agricultural Innovation and Commercialization
Center
Purdue University Resources
• Purdue Extension Means Business
– http://www.ces.purdue.edu/extbusiness/stories/Start_Busin
ess.htm
• Small Business Development Program
– http://www.itap.purdue.edu/ipsp/partnership/sbdp.cfm
• IPFW Small Business Development Center
– http://www.ipfw.edu/bms/centers/default.shtml
• Entrepreneurship Education and Resources at Purdue
– http://innovate.ecn.purdue.edu/documents/entr_guide_final.pdf
• Office of Technology Commercialization
– http://innovate.ecn.purdue.edu/documents/entr_guide_final.pdf
• New Ventures
– http://www.agecon.purdue.edu/newventures/
• Agriculture Innovation and Commericialization Center
(includes automated business plan)
– https://www.agecon.purdue.edu/planner/
Any Questions?
• Contact Megan at msn@purdue.edu
or
494-2871
• Visit the Engineering Library at
http://gemini.lib.purdue.edu/ENGRdat
abases/index.cfm
• Visit the Management and Economics
Library at
http://www.lib.purdue.edu/mel/