Becoming a Successful Entrepreneur

It is often said that entrepreneurs are the backbone of any nation. Anyone with passion and drive can become a successful entrepreneur as long as the planning and execution are done well. The first step to becoming an entrepreneur is choosing the ideal business. The business you choose will be determined by its feasibility as well as your interests and expertise.

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Description

Module One: Getting Started

  • Pre-Assignment Review
  • Workshop Objectives

Module Two: Decide On The Type Of Business

  • Decide on the Type of Business
    • Topic – Is it Feasible
  • What Are Your Interests?
    • Topic – What is Innovation?
    • Topic – Varieties of Innovation
  • Do You Have The Experience?
    • Topic – Six Myths of Entrepreneurship
  • Are You An Expert In The Field?
    • Topic – From Passion to Idea or Technology
  • Case Study
  • Module Two: Review Questions

Module Three: What Is The Market/Competition Like?

  • Is There Competition?
    • Topic – How to Do Market Segmentation
  • Is The Venture Lucrative?
  • How Can You Set Yourself Apart From The Competition?
    • Topic – What is a Beachhead Market
  • How Can you Set Yourself Apart?
    • Topic – Our Passion for Entrepreneurship at MIT
  • How Is The Customer Prospect?
    • Topic – Market Segmentation with SensAble Technologies – Part 1
    • Topic – Market Segmentation with SensAble Technologies – Part II
  • Case Study
  • Module Three: Review Questions

Module Four: Basics Of Starting A Business

  • Starting a Business
    • Topic – Three ways to start a Company
    • Topic – What Makes a Business
  • Decide On A Name
  • Legal Structure Of Business
  • Register The Business
  • Choose A Location
    • Topic – Items to Consider in Choosing Your Location
  • Hire An Accountant
  • Case Study
  • Module Four: Review Questions

Module Five: Create A Business Plan

  • Create a Business Plan
  • What Should Be Included In The Business Plan?
  • Gather Documentation
  • Develop Business Plan Outline
  • Draft Business Plan
  • Case Study
  • Module Five: Review Questions

Module Six: Get Financing

  • Get Financing
  • Contact Organizations For Guidance
  • Decide The Type Of Financing
  • Shop Around
  • What To Do Once Approved
  • Case Study
  • Module Six: Review Questions

Module Seven: Hire Employees

  • Teach Employees
  • Hiring Employees
  • Develop Job Description(S)
  • Advertise Positions
  • Interview Candidates
  • Select Candidates
  • Case Study
  • Module Seven: Review Questions

Module Eight: Training Employees

  • Teach Company Culture
  • Implement Actual Training For The Position
  • Provide Feedback
  • Offer Additional Training, If Necessary
  • Case Study
  • Module Eight: Review Questions

Module Nine: Market The Business

  • Marketing Your Business
  • Traditional Marketing
  • Create A Website
  • Social Media
  • Networking Groups
    Case Study
  • Module Nine: Review Questions

Module Ten: Run The Business

  • Running the Business
  • Procurement
  • Sell! Sell! Sell!
  • How To Manage Cash Flow
  • Budgeting
  • Case Study
  • Module Ten: Review Questions

Module Eleven: Grow The Business

  • Grow the Business
  • Offer More Products / Services
  • Open Another Location
  • Franchise Opportunities
  • Scoring Large Contracts
  • Case Study
  • Module Eleven: Review Questions

Module Twelve: Wrapping Up

  • Words From The Wise
  • Recommended Reading

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