Lecture Plan ADM 3396: Summary

What is a Business Model- a Definition. Getting the Business Model Right, GTBR. Learning about Pixie Dust. Differentiated Value- Another Look. Differentiated Value and Bootstrapping. Custom Outputs from Standard Inputs and Processes-- Moving up the Food Chain. (Read Purple Cow by Seth Godin for examples of how many buinsesses have successfully differentieated themselves, sometimes with simple but subtle changes to their products, services or business models). Business Model Example: i-SoldIt.com. Business Model Transformations- Amazon, Google, eBay Transform their Business Models by Reversing out the Work. Walton International- Land Development Company. The Perfect Business Model: "Will Work 4 Food". Using the Business Model Generator, BMG Landing Page, BMG. BMG Media Release. Simple Rules to Begin Your Entrepreneur Career. (To be followed with the 25 Steps to Entrepreneurial Success later in the course.) Developing your value proposition- how to use the Callahan/MacKenzie model with a few examples that include not only a tech biz but also a services biz oriented to SMEs plus how to write up a 'case study' where it is your own work you are writing up (i.e., a learn by doing exercise). The Ten Most Important Things You Need to Do to Create a Successful Startup. Adding 'Pixie Dust' and selecting your next startup. 'Renovating' your business model from time to time. Any firm with a business model stable for nearly 20 years (an exceptionally long time) may be in need of a 'renovation': http://www.dramatispersonae.org/MediaTrainingBusinessModelChange.pdf). Get going: "The longest journey is the one you never start": "Don't beg for permission, ask for forgiveness!" Outlining of assignments.

How to really sell. Tips on Negotiating and Selling plus Hints about NLP, Neuro Linguistic Programming. Negotiating and Selling. What Do Clients Really Want? The High Trust Model: Secrets to Attracting (and Keeping) Clients for Layers and Accountants. Ethics and Trust. The Ethics of Pre-Selling. Firestone's Three Laws of Power Selling. Solution Selling. Creating Your Own Clients. Zombie Companies. Art of Pricing. Negative Cost Selling, An example: Blue Heron Storage Corp. If you can't sell, you can't be an entrepreneur. Selling means not only selling to clients and customers but to suppliers, future employees, bankers, Board of Directors, etc. Selling means that you can convince people to like and trust you. I am not recommending that you be like Ben Affleck in Boiler Room but one part of his message, ABC "Always be Closing" is sound. At the Ottawa Senators, if someone came in to fix a plumbing problem, we made sure they were already season ticket holders or soon would be! WARNING: THE YOU TUBE VIDEO CONTAINS COURSE LANGUAGE: http://www.youtube.com/watch?v=lofNPLZvTOs&feature=related.

The Social Startup. The internet has drastically changed the world of the entrepreneur. This lecture will examine the evolution of entrepreneurship and our relationship with customers over the past 100 years. Networking & the Social Web. The evolution of Social Media. The tools of social media.

The Bootstrap Entrepreneur. Start with nothing. Build and Hold- the Difference between Getting Rich and Being Wealthy. Why Businesses Really Fail. Bootstrap Marketing and Financing, No Money Down Startups , Bootstrap Capital, Summary of Sources of Bootstrap Capital, Merchant Cash Advances: Another Form Of Bootstrap Capital, 10 Reasons Not to Use Venture Capital, Fixing Venture Capital, The Bootstrapper's Bible by Seth Godin, (Read a Brief Review of The Boostrapper's Bible), Defining your Core Competencies. Uncovering Core Competencies. Developing a mental map of the way the world works. Bootstrap 2.0: Cloud Computing and Startups (Cheap Internet-based tools and software to boost your productivity and lower your costs.)

Case Studies. Guest speaker, Rob Lane, CEO of Overlay.tv has raised $4.6 million in investment; Rob will be talking about his experiences. Other case studies to follow. Measuring the benefits and costs of new startups and projects using analytical tools like Internal Rates of Return (IRR), the power of leverage and goal setting using a Reverse IRR Model. Measuring the Internal Rate of Return for a new project or start-up. Debt versus equity. Sub-debt. IRR for different components of financings. Getting your media relations right. Pioneers Get Shot at. Litigious Society. Truth/Smart Truth.

Public Relations and Guerrilla Marketing. Entrepreneurs can't usually compete with big budget media spends, but they can market smarter through free channels like the web, public relations and guerrilla marketing. Media Relations and the Sales Cycle. Reputation Management. Strategy 101: Using Guerrilla Marketing to create 'Brand You'. Marketing by Media Release. See for example: "CEO Killed in Corporate Mutiny".Networking.

Gizmos and Gadgets. Selling Your Business. Creativity, Ordered Thinking, Business Ethics, Crisis Management Creditor Proofing. How to value a personal services business and demonstrate your value proposition as well as add to your PBS (Personal Balance Sheet): Example A) The Starchitect, Gary Smith; Example B) Prince. Followed by instruction to the students on how to create and understand balance sheets and income statements. Students will be exposed to financial statements for a technology startup, a products company plus a services company and will be given the exercise of creating one of their own from the data provided. Students should also create their own Personal Balance Sheets. Students can use this as a tool to track their own personal Asset growth, keep track of liabilities, manage their personal affairs better and they may need it too for bank loans and other types of financing. There will be a discussion about why students should build and maintain their Personal Web Sites over their careers. We will also look at the possiblity that it might also be a wise choice to develop a Personal Business too, one in which we have no partners, no Bank financing and one we can keep for life. Perhaps every man, woman and child on the planet should have a Personal Business for life? See things like: 10 Totally Stupid Online Business Ideas That Made Someone Rich (e.g. the Million Dollar Homepage/Santa Mail); Startups That Work: Surprising Research on What Makes or Breaks a New Company (Hardcover) by Joel Kurtzman (Author), Glenn Rifkin (Author), 2005: (Have a map/Get great people/Create value/Cash flow is king/Select a fast growing market/Defend your competitive position/Build a great business model). Stages of an Entrepreneur's Life. The Best Partner is no Partner: Blog Entry and Spreadsheet.
E-Commerce and Online Advertising. Online salesmanship is more important than ever, as more consumers are using the web to purchase products. This Lecture will give an overview of e-commerce, CRM, online advertising, email marketing and social media marketing. Great Guerrilla Marketing for SMEEs and startips- from Handbills to PR Stunts and More. Guerrilla Marketing, 33 Guerrilla Marketing Techniques, Reverse Mareting, Guerrilla Marketing and Gift Card Programs. (Learn the right way to do Guerrilla Marketing and the wrong way. Student Works Painting and Window Medics have trouble with their spelling. Also, check out Wendy's Reverse Marketing; i.e., their pseudo win-a-million-dollar contest.) Stupid Marketing Surveys. Tag Lines. More Tag Lines. 25 Steps to Entrepreneurial Success (Dr. Bruce M. Firestone). Cubicle Hell: The Importance of Sound HR Policies, Harnessing the Internet. The Purpose of Life. Future Vision



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