Entrepreneurship education
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Entrepreneurship education

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Here you find power point slides to the entrepreneurship training programme: Unleashing the Entrepreneurial Spirit.

Here you find power point slides to the entrepreneurship training programme: Unleashing the Entrepreneurial Spirit.

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  • 1. To the lecture from Mr. Mogens Thomsen, Thomsen Business InformationI am proud you will use this material for your education.Here you find a suggestion for structuring of your entrepreneurship education.The power points follow this pattern:• Introduce the students to what is going to happen in this entrepreneurship module• You must create a good learning environment for the students• Discuss entrepreneurship in general terms with students• Help students create an idea and turn it into a business idea• Introduce a project plan on how to start a business – the business plan• Trust that the students can create a business plan using www.dynamicbusinessplan.com• Coach the students while creating the business plan• Make the students present the business plan for you and othersRead more about the entrepreneurship education concept: “Unleashing the EntrepreneurialSpirit” at www.dynamicbusinessplan.com/entrepreneurship www.DynamicBusinessPlan.com
  • 2. Entrepreneurship module - How to start your own businessAgenda:1. Presentation of the entrepreneurship module2. Development of a business idea3. Introduction to writing a business plan4. Where to find help?5. Form groups and choose the type of business to start Entrepreneurship module, XX University Lecture: Mr./Mrs./Miss xx www.DynamicBusinessPlan.com
  • 3. Targets of entrepreneurship moduleObjectives for students• Feel that they dare start a business when the time is right• Acquire an understanding about starting a business• Understand drafting of the business concept• Encounter problems and solve them• Be able to present their business in a persuasive wayLearning outcomes• Be able to write a business plan• Create an establishing and operating budget in a spreadsheet• Show they have solved problems / challenges• Plan and execute a presentation of business plan www.DynamicBusinessPlan.com
  • 4. The task: Plan start of business1. Choose type of business2. Make a business plan3. Present the business planThe proces• Common introduction• Individual advice in study groups - app. 60 min.• ”Stand by advice”• Hand over the business plan to lecture• Present the business plan in class www.DynamicBusinessPlan.com
  • 5. Quality of the business planRelevant topics in the plan shall be supported by data.Three types of data:• Factual data - when one table cost 500 $, two must cost 1000 $• Estimated data - two customers said they will buy - therefore 20 might also buy ..• Allegations - I just believe it is like that … www.DynamicBusinessPlan.com
  • 6. Presentation of business planMax. 10 min. oral presentation + OHP / PP / blackboardto the class and to the lecture/ invited entrepreneurs.The following must be included:• What does the company sell?• Which and how many customers?• How to come in contact with the customers?• Turn over year one?• Profit year one?• Need for financing?Questions from class and lecture/ invited entrepreneurs www.DynamicBusinessPlan.com
  • 7. Rating of the projectThe entrepreneurship module will be accepted if:• The business plan has a certain depth (Factual and estimated data)• The presentation gives the audience a clear picture of your business.• The presentation shows that you have considered your decisions• It is OK if the conclusion is not to start the business www.DynamicBusinessPlan.com
  • 8. Teaching materialGo to:• www.DynamicBusinessPlan.comHere you will find: • Template for a Business plan - word • Establishing budget - excel • Operating budget – excel • Online business plan informationReading:• Book: The Dynamic Business Plan www.DynamicBusinessPlan.com
  • 9. Entrepreneurship in our country• Definition of an entrepreneur• Entrepreneurs in your family?• Top three entrepreneurs in the country?• What makes a good business?• Room for more entrepreneurs in the country?• Government effort to promote entrepreneurship www.DynamicBusinessPlan.com
  • 10. Development of business idea - work in study groups• Discuss the use of a mobile phone: - two years ago - to day - in three yearsCan you ways to profit of the mobile market in three years?• What type of business do you prefer the most?• Where do you find most customers to day?• Where do you find most customers in two years?• Each group discus their business idea• Each group create a business idea in group work www.DynamicBusinessPlan.com
  • 11. Three steps to start a businessThree ingredients must be present to start a business:+ Be creative (combine known things in a new way: an idea)+ Be innovative (the found idea must be useful for customers)+ Entrepreneurship (carry out the useful idea in real life, action!)= Start of a new innovative businessA business plan helps you describe the new business www.DynamicBusinessPlan.com
  • 12. Business plan - items you must know about: www.DynamicBusinessPlan.comDownload business plan template: www.dynamicbusinessplan.com
  • 13. Personal resources• Your family network• Economy• Education in the field• Know-how about the product/the services• My weak points in relation to the business• My working tasks in the business• Future prospects for business size www.DynamicBusinessPlan.com
  • 14. Product or service• Products/lines/service – 1 - 2- 3• Differences compared to your competitors• Purchase frequency/product life span• Calculation of product/service• Price of product• Purchase price• Name of contractors• Kind of distribution of the product• Other businesses in this trade www.DynamicBusinessPlan.com
  • 15. Market – who will buy?• The typical private customer• The typical business customer• Geographical limits• Realistic number of customers• Average consumption in cash per customer• Important competitors• Competitive parameters on the market• Possibilities on the market for your business• Threats that may destroy the possibilities www.DynamicBusinessPlan.com
  • 16. Sales and Marketing• Direct mail• Internet• Customer visit• Telephone sale• Advertising• Publications• Signposting• Presentation material• Trade Fair• Public Relation (PR)• Opening market activity www.DynamicBusinessPlan.com
  • 17. Management and Organisation• Name of business/address/phone no/• Legal status of business• Owners• Bank• Accountant• Business policies• Accountancy and administrative routines• Write letters• Telephone reception• Insurance subscriptions• Business partners /consultants www.DynamicBusinessPlan.com
  • 18. Business Development• Business appearance in three years?• The product or service in three years?• Customers in one and in three years?• Financial forecast for year three?• Other goals with your business? www.DynamicBusinessPlan.com
  • 19. Budgets and Financing• Establishing budget• Operating budget• Cash Flow budget• Financing + Necessary establishing capital + Necessary liquidity = Total funding needs www.DynamicBusinessPlan.com
  • 20. Annual accounts - profit & lossTurnover/sale‑ Used goods /variable costs= Gross profit‑ Fixed costs‑ Interest- Depreciation= profit = your salary• Personal tax is paid on the basis of the company´s profit• Accounts and budgets are always without VAT/sales tax www.DynamicBusinessPlan.com
  • 21. Profit & loss statement - Accounts for a small building company, 2011Turnover/sale 442.00‑ Use of goods 145.860= Gross profit 296.140‑ Fixed costs 97.116‑ Interest 0= Profit = Your salary 199.166 www.DynamicBusinessPlan.com
  • 22. www.DynamicBusinessPlan.com - core business plan knowledge www.DynamicBusinessPlan.com
  • 23. Business answer: Budgeting www.DynamicBusinessPlan.com
  • 24. First work task: Decide your business ideaTask:• Decide which kind of business you will start• Describe the business in four lines and hand it over to the lecture at the first meetingInputs:• Build on your own experience - business as leisure• Build on what you find interesting, fun or challenging• You could assume you have specific education or contacts www.DynamicBusinessPlan.com
  • 25. Second work task: Individual coaching in study groupsThe study group gets the chance to talk lecture for app.60 minutes.The lecture and the study group will among other thingsdiscuss: • What will your business sell? • Which and how many customers? • How do you get in contact with customers? • Turnover year one? • Cost year one? www.DynamicBusinessPlan.com
  • 26. Teaching material – once againGo to:• www.dynamicbusinessplan.comYou will find: • Template for a Business plan - word • Establishing budget - excel • Operating budget – excel • Online business plan informationReading:• The book: The Dynamic Business Plan www.DynamicBusinessPlan.com