30 Dec Share your cash budget

Module 1 discussion

Share the results of your Entrepreneurship Self-Assessment with the class. What was your overall score? How accurate do you think the assessment is? What do the results tell you about your propensity for entrepreneurship? Are you surprised by the results? Why or why not?

Discuss with your classmates how they developed strengths on criteria for which you scored yourself as weak. Based on your understanding of Chapters 1 and 2 in the textbook, the results of your assessment, and your personal experiences, explain the driving forces behind your desire to become an entrepreneur.

Module 2 discussion

Read the material in Table 3.1 “Questions to Spur the Imagination” in your textbook and apply this exercise to a potential new product or service. Discuss with your classmates how the business that you are proposing “stacks up” on the 18 questions posed in Table 3.1.

Based on your research, the reading in your textbook, and your experiences, discuss the most effective methods and procedures that result in enhanced creativity. Be as detailed as possible in this discussion. Remember to cite 2 sources.

Module 3 discussion

An elevator pitch is a short summary which quickly and simply defines a product, service, or organization and its value proposition. While it should be possible to deliver the summary in the time span of an elevator ride, the summary should also be interesting and compelling enough to inspire continued discussion after the ride has concluded.

Post a 500-word (maximum) description of your proposed business venture that could be told to a professional investor in the time it takes to ride 30 floors in an elevator. Practice your pitch to ensure it flows and can be stated clearly.

Respond to your classmates by posting your reaction to their summaries. Does the summary clearly articulate the business venture? Is the venture interesting, creative, unique, or innovative? Would you invest in the venture? What information in the summary do you think should be added, deleted, or revised?

Module 4 discussion

Share with your classmates the choice you made about your firm’s form of ownership. Describe the advantages of this form of ownership that influenced your decision. Why is this form of ownership appropriate for you and your firm? Which disadvantages have you considered in this decision? Respond to your classmates by posting your reaction to their choices. Are there other factors that your classmates should consider in their decisions?

Module 5 discussion

Share with your classmates the fundamental elements of your marketing plan. Explain your company’s “unique selling proposition.”

Respond to your classmates by posting your reaction to their marketing plans. Discuss whether you believe the plans will be effective and explain why. Provide detail to support your comments and recommendation.

Module 6 discussion

Share your cash budget with your classmates, and describe its importance to the success of your proposed business.

Respond to your classmates by posting your reaction to their cash budgets. Discuss whether you believe their budgets will be effective and explain why. Provide detail to support your comments and recommendations.

Module 7 discussion

Share information about the funding sources you plan to rely on to start your new business. Explain why you are confident that this amount and type of financial capital will be sufficient for the success of your business.

Respond to your classmates by posting your reaction to their posts. Discuss whether you believe their plan for funding will be successful and why. Are there other options that may be more appropriate or more effective? Provide detail to support your comments and recommendations.