Business Plan Development Workshops 2007-08
These workshops are designed for Drexel student teams who are developing business plans for submission into the 2008 Business Concept Competition or Business Plan Competition. Individual and group support is provided by the Baiada team of mentors throughout the delivery of this series and all phases of the competition. Workshops are held in the Baiada Center on Saturday mornings. These sessions begin at 9:30 with continental breakfast and presentations begin promptly at 10 a.m. Please visit our calendar of events to register for each session.
Session 1 - November 3, 2007 and April 5, 2008
Topics
Developing a business concept
Concept testing
Outline of business plan, competition requirements
In this session, we will take a look at how to methodically study a business idea to make sure that we can define a market that will actually want to buy the product or service. We will also discuss how that kind of analysis feeds into the Baiada Center's concept paper requirements. In addition, we will take a look at some business plan tables of contents from real businesses who have been attempting to raise financing in the last year or so. Finally, we will introduce the company that we will all be working with throughout the workshop series.
Session 2 - November 10, 2007 and April 12, 2008
Topics
Product/service descriptions
Solving problems vs. providing technology
Marketing and sales strategy
To catch on in the marketplace, a product or service needs to satisfy some need. We’ll talk about how you determine what the core need is and how you can develop a product that meets the need. We’ll also talk about how you break the larger market up into smaller chunks that you can address more effectively in your messaging, as part of your overall marketing strategy, which also includes the key concepts of positioning and barriers to entry. We will also discuss the development of sales channels.
Session 3 - December 1, 2007
Topics
Introduction to library databases and resources
This session will provide a hands-on approach to using the Drexel library system to conduct the necessary market research for a strong plan.
Session 4 - January 12, 2008 and April 19, 2008
Topics
Revenue models and pro forma financials
Financials. Financials. They scare a lot of people. But they’re not all that scary. Really! First, we’ll talk about the different kinds of revenue models—how you make money—you can develop. And then, we’ll talk about the kind of financial forecasts you have to put together for an effective business plan. These are the profit and loss statement, the balance sheet, and the cash flow statement.
Session 5 - January 26, 2008 and April 26, 2008
Topics
Operational plans
Production
HR
Issues
Now that you have a business, you have to run it effectively. We’ll spend our time in this session talking about various issues, such as development and production planning, hiring the right people, and so on.
Session 6 - February 9, 2008 and May 3, 2008
Topics
Risk Factors
Legal Issues
Putting it all together
Business is risky. You have to clearly understand what those risks are, and how to mitigate them. And so, in this session, we will talk about how you determine the risks you face, and what you need to do to make sure they don’t ruin your business. We’ll also talk about the various legal issues you face, such as the various types of legal ownership you can select from and how to protect your trade secrets. We’ll finish up by discussing how you pull it all together into that knock-out kind of presentation that will bring you the big bucks.