BA410.com » Class 01: Introduction

Objectives: Class 1 — Introduction

Tim Berry — Wed, 01 Jul 2009 16:00:31 +0000

Class 1 covers the course introduction and expectations. Information covered includes going over the syllabus and assignments. As part of your first class, you will be asked to introduce yourself and explain why you are here, what you hope to learn from the class, and what type of business that you are currently in or that you want to start.

In this course you will learn what the key elements are to starting and running a business. These key elements include:

Who is your ideal customer?
What characteristics best describe your target market?
What is the best strategy to reach your target market?
What are your starting costs and asset requirements?
What are your estimated sales projections, costs of goods, and ongoing expenses?
What determines your break-even point and how do you achieve it?
How do you build an effective team to run the business; how will you be paid as the owner; when will you be paid?
What do you need to do/what are the costs for creating a website for your business (do you need this)?
What is the difference between cash vs. profits? Is there a difference?
Will you need financing to start your business; what financing option will best fit your need?
If you need to present a business plan to obtain financing, what do you need to include; which type of presentation is recommended?

OVERVIEW
Understanding the key elements also reinforces the value of having a plan. A plan should be treated as a living document; the planning process not only helps you get your business started but also guides you through the process of managing your business once it’s up and running. Learning to think about and monitor the key elements that affect your business will help you adapt any or all of them as the business changes. And it will change.

DEFINITION

What is entrepreneurship and why is it important? A dictionary definition of an entrepreneur is “A person who organizes, operates, and assumes the risk for a business venture.” Does that describe you?

Reading: Class 1 – Introduction

Tim Berry — Wed, 01 Jul 2009 15:00:38 +0000

In addition to the class discussions and assignments, you will also have required reading for each class from these books:

The Plan-As-You-Go Business Plan, by Tim Berry
3 Weeks to Startup, by Tim Berry and Sabrina Parsons
The Art of the Start, by Guy Kawasaki

REQUIRED READING

You may not expect to have a reading assignment for the first class. However, it is strongly recommended that you read Chapter 1, ‘The Art of Starting,’ in the book The Art of the Start.

This book is very well written and easy to read. You should be able to finish this first chapter very quickly. This is also a good reality check about the course. If you don’t find the content interesting, you aren’t going to like this class. Reconsider.

VIDEOS: Class 1 – Introduction

Tim Berry — Wed, 01 Jul 2009 14:00:28 +0000

Guy Kawasaki – The Art of the Start

About a year after his book, The Art of the Start, was published (and after a lot of previous engagements speaking on it), Guy Kawasaki chose this video as the one to post on the web. It’s a very good live and in-person presentation of most of the same content as in the book.

Tim Berry — Three Types of Startups

This is a five-minute video interview with Tim Berry, business-planning expert, talking about the 3 types of startups on the SBTV site.

Three Types of Startups

Tim Berry — Fri, 21 Mar 2008 14:53:10 +0000

There’s a five-minute video interview with me talking about the 3 types of startups on the SBTV site.

Guy Kawasaki’s Art of the Start Video

Tim Berry — Tue, 27 Jun 2006 21:59:28 +0000

About a year after the book was published, and after a lot of previous engagements speaking on it, Guy chose this video as the one to post on the web. It’s a very good live and in person presentation of most of the same content as in the book.