Entrepreneurial Planning Fall 2007-2008

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					Yale School of Management / Yale School of Forestry & Environmental Studies
                                                               Fall 2007
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                   ENTREPRENEURIAL BUSINESS PLANNING
                   Mid-Semester, Fall 2007 to Mid-Semester, Spring 2008
                        Monday and Wednesday, 5:35 to 7:00 PM
                           (Starts Monday October 29, 2007)

David Cromwell                                                      DMCromwell@aol.com
Maureen Burke                                                      Maureen.Burke@yale.edu

Entrepreneurship is all about starting and running your own business. In order to focus
thinking and to help assemble the needed people and financial resources, most entrepreneurs
must write a business plan for their new venture. One of the best ways to learn how to write
a business plan is to learn by doing -- a real plan for a real new venture.
This course is for six teams of five students each, who want to write a business plan for their
own new startup company. Three or four of the teams will be primarily SOM students, and
two or three of the teams will be primarily FES students. Students will enter their plans in
the Y50K Business Plan Contest sponsored by the Yale Entrepreneurial Society. The scope
of the work will include:
   1) Doing in-depth market, product and competitor research;
   2) Creating a strategy for a sustainable business; and
   3) Writing a professional quality plan (including a financial model and deal structure).
Admission to class is by permission of the instructors. During the first half of the fall
semester, students should pull together a team around a proposed new business idea. Each
team should submit a one-page concept summary to the professors no later than Monday,
October 22, along with the resumes of everyone on their team. The professors will read the
concept summaries and discuss them with each team, before deciding which teams to offer
official slots in the course. The class will start at 5:35 PM on Monday, October 29 2007.
Teams will consist of four to five people each. At least four members of the team must
currently attend Yale as students. Other team members can be anyone. At least four
members of each team (all Yale students) must sign up for the course, with a maximum of
five students per team. The professors will give preference to teams with SOM and FES
students, the more the better, and teams with five people signing up for the course.
There will be short lectures, followed by a weekly meeting of each team separately with the
professors. General lecture sessions also will be open to other Yale students who plan to
enter the Y50K business plan contest. Weekly meetings with the professors and customized,
off-line coaching will be only for the teams that are part of the official class.
Starting a successful new business requires some special skills and motivation. The work
will be “hands-on”, “learn by doing” in nature. Entrepreneurs should be flexible thinkers
and highly motivated, with a large capacity for work. They must be persistent and able to
thrive in an unstructured environment. Entrepreneurs should be confident self-starters with
an ability to take the initiative, overcome obstacles, make things happen and get things done.

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