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Entrepreneurship

Learn Entrepreneurship

Written by Jason Gordon

Updated at May 4th, 2022

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Overview: This course provides useful information about business careers, the role of business education, networking, applying for jobs, negotiating employment, and acting professionally in an organization.


***Master Checklist for a Startup Venture***

Entrepreneurship Concepts

  • How Startups are Founded
    • Can an Employer Claim Ownership of My Startup?
  • What is a Founder?
  • Monetize Definition
  • Intrapreneur Definition
  • Social Venture Definition
  • Small Business vs. Startup Venture
    • Cottage Industry - Definition
    • Early Stage Startup - Definition
  • Growth
    • Inorganic Growth Definition
    • Organic Growth Definition
    • Incubator - Definition
  • Laws
    • Small Business Innovation Development Act
    • JOBS Act - Definition
    • Small Business Job Protection Act 

Procedures - Setting Up a Business

***Map for Setting Up A Business Entity***

Licenses

  • Obtaining a Business License

Tax Licenses and Numbers

  • Employer Identification Number
  • Sales and Use Tax Numbers
  • Data Universal Numbering System (DUNS) 

Business Name & Brand

  • Naming Your Business
  • Protect Your Business Name
  • Trademarking a Business Name
  • Website URLs and Social Medial Handles

Forming a Business Entity

  • When to Incorporate a Business Entity
  • Choosing an Entity to Form
    • Everything About General Partnership
    • Everything About Limited Liability Companies
    • Corporations Explained
  • Procedures in Setting up a Business Entity
    • Organizational Documents For the Various Entity Types
    • Initial Actions by Business Owners
    • Steps in the Incorporation Process
    • Where to Form the Business
      • Forming in Delaware or California
      • Franchise Taxes in California
      • Registered Agent in Delaware
      • Does a California Company Pay Delaware Taxes
    • Initial Board Actions
    • Capitalization Matters
    • Employee & Intellectual Property Matters

Business Permits, Professional and Occupational Licenses

  • Business Permits and Occupations Licenses

Business Taxes

  • Self Employed Contributions Act (SECA)

Real Estate and Leasing

  • Choosing a Location (& Bldg)
  • Lease or Purchase Commercial Property

Zoning Regulations & Land Restrictions

  • Overview of Zoning Requirements
  • Private Restrictions on Land Use

Business Insurance

  • Insurance Considerations for Starting a Business

Fiscal Administrative Setup

  • Establish a Business Bank Account
  • Building Business Credit
  • Payment and Credit Policies

Startup Tools

  • List of Great Procedural Tools for a Startup

Ideation & Innovation

  • Ideation and Innovation
  • Entrepreneurs and Opportunity
  • Corridor Principal
  • Needs vs Wants
    • Wicked Problems
  • Entrepreneurs and Inventors
  • How Entrepreneurs Encounter Opportunities: Methods of Innovation
  • Prior Experience in Opportunity Identification
  • Techniques for Generating Ideas: Brainstorming Overview
  • Types of Brainstorming
  • Ideation Best Practices
  • Affinity Diagram - Explained
  • Ideation and Existing Ideas
    • Ratselvermehrung
    • The Thinker's Keys
  • Translating the Idea into the Business Plan
  • Testing a Concept for Value
  • Feasibility Study - (Testing Concept for Value)
    • Window of Opportunity
  • Disclosing Your Business Idea
  • Closing Points on Ideation

Market Analysis

  • Market Analysis Overview
  • Customer Segments & Target Market
  • Determining Market Size
  • Pricing Your Product
  • Customer Priority
  • Market Potential
  • Marketing Research Overview
  • Primary Market Research
  • Secondary Market Research
  • Quantitative and Qualitative Research

Product or Service Development

  • Product or Service Development Overview
    • Market Orientation
  • Product Life Cycle - Definition
  • Validated Learning in Lean Startup: 3 As
  • Alpha Test
  • Strategic Assessment: Minimum Viable Product
  • Beta Test
  • Time to Market Definition
  • Diffusion of Innovations Theory Definition
  • Bass Diffusion Model
  • Network Effect - Definition
  • Intellectual Property Considerations

Business Strategy 

  • The Concept of a Value Proposition
  • Porters General Strategies
  • Bowman's Clock
  • SWOT Analysis
  • TOWS Analysis
  • PESTEL (External Factors for Analysis)
  • Porters Five Forces
  • Summary of Strategic Analysis
  • Competitive Advantage

Operational Analysis

  • Operational Analysis
  • Operational Plan Overview
  • Elements of Operational Plan
  • Other Elements of Operational Plan
  • Steps in Developing an Operational Plan
  • Porters Value Chain
  • Manufacturing Overview
  • Shipping & Logistics Overview
  • In-sourcing - Definition

Marketing Plan

  • Outline for Marketing Plan
  • The Mission and Product/Service Statement
  • Situation Analysis
  • Target Market
  • Marketing Objectives and Goals
  • Marketing Strategy
  • 5 Ps Product
  • 5 Ps Price
  • 5 Ps Promotion
  • 5 Ps Placement
  • 5 Ps Packaging
  • 5 Ps People
  • 5 Ps Physical Environment
  • 5 Ps Process
  • Action Plan
  • Budget
  • Controls
  • Traditional Marketing Tools
  • Internet Search Marketing
  • Social Media Marketing
 

Financial Considerations

  • How to Conduct Initial Financial Analysis
  • Financial Projections (Overview)
  • Business Valuation Overview

Business Models

  • Business Model Canvas
  • Constructing a Business Model
  • Business Model vs Business Plan
  • Central Driving Forces Model
  • Example: Software as a Service (SAAS) Business

Creating a Business Plan

  • Business Plan, Part 1 (Outline Overview)
  • Business Plan, Part 2 (The Executive Summary)
  • Business Plan, Part 3(General Description of Business)
    • What is a Mission Statement?
    • What is a Values Statement?
    • Setting Company Goals
  • Business Plan, Part 4 (Market Analysis)
  • Business Plan, Part 5 (Competitive Analysis)
  • Business Plan, Part 6 (Marketing Plan)
  • Business Plan, Part 7 (Operations)
  • Business Plan, Part 8 (Management and Organization)
  • Business Plan, Part 9 (Financial Projections)
  • Business Plan, Part 10 (Appendices)
  • Business Plan, (Final Modifications)

Forming a Team

  • Forming a Team (Overview)
  • Culture and Fit
  • Founders and New Owners
  • Early Employees & Contractors
    • How Much Equity to Compensate Early Employee
  • Compensation in a Startup
    • Employee Stock Option Plans
    • 83(b) Election & Stock Options
    • Startup Advisors and Equity Compensation
  • Ownership and Control of Founders
    • Dividing Up Ownership Among Founders
  • Rights of Owners
    • Can I Kick Out a Co-Founder?

Business Funding

Overview 

  • Funding with Company Revenue
  • Personal Contributions of Founders
  • Friends, Family, and Fools
  • Business (Commercial) Loans
    • Small Business Investment Company - Definition
  • Promissory Notes
  • Co-Owners
  • Funding from Equity Investments
    • Overview of Angel & Venture Capital Investment
    • Angel Investment
    • Venture Capital
    • Strategic Investor
  • Preparing a Business for Equity Investment
  • Crowdfunding
  • Debt vs Equity (A Balance)
  • Other Financial Methods
  • Business Plan for Loans
  • Business Plan for Equity

Equity Funding Process

  • Funding Deal Process
  • Series A Funding
  • Standard Equity Financing Documents
  • Board & Stockholder Approval
  • Due Diligence
  • Stock Purchase Agreement Structure
  • Company Legal Opinion
  • Rolling Closing Date
  • Funding Transaction Costs
  • Counsel & Expenses

Capital Structure

  • What is Capitalization & How do you Calculate It?
  • Authorized Shares
  • Common and Preferred Shares
  • Preferred Convertible Shares
  • Preferred Liquidation Preference
  • Participating Preferred Shares
  • Participating Convertible Preferred
  • Issued, Outstanding, and Fully Diluted
  • Options Pools & Capitalization
  • Overview of Equity Distribution to Founders
  • Co-Founder Equity Split
  • Issues in Contributing IP for Equity
  • Founders Stock
  • Class F Stock
  • Class FF Stock
  • Stock Vesting Schedule
  • Change of Control Vesting

Term Sheet Provisions

  • Term Sheet Provisions
  • Dividend Rights
  • Liquidation Preference
  • Participation Rights & Caps
  • Liquidation Preference & Follow-on Financing
  • Redemption Rights
  • Conversion Rights
  • Anti-dilution Protection
  • Full Ratchet Anti-dilution Protection
  • Weighted-Average Anti-dilution Protection
  • Broad-Based vs Narrow-Based Calculations
  • Carveouts to Anti-Dilution Protections
  • Preemptive Rights
  • Voting Rights
  • Protective Provisions
  • Drag-Along Rights
  • Registration Rights
  • Board Observer Rights & Seats
  • Management of Information Rights
  • Special Employee Provisions
  • Counsel & Expenses

Valuation Methods

Overview of Valuation Methods

Asset-Based (Cost-Based) Methods

  • Overview of Asset-Based (Cost-Based) Methods
  • Book Value (and Adjusted Book Value) Methods
  • Replacement Value
  • Liquidation Value

Market-Based Methods

  • Overview of Market Approaches
  • Types of Comparables
  • Common Characteristic-Based Ratios & Multiples
  • Issues with Market-Based Valuation Methods

Income-Based Methods

  • Overview of Income-Based Valuation
  • Earnings Capitalization Method
  • Build-Up Method
  • Discount Future Cash Flows
  • Excess Earnings Method
  • Economic Value Added Method
  • Value of Dividends Method

Investor Valuation Methods

  • Pre-Money and Post-Money Calculations
  • Angel Investor Methods
  • Venture Capital Method
  • First Chicago Method
  • Strategic Considerations in Valuation

Investor Presentations

  • Elevator Pitch Definition
  • Business Presentation Components
  • The Presentation Format
  • Presentation Content
  • Slide 1: The Company Logo
  • Slide 2: The Business Team
  • Slide 3: Problem or Need Statement
  • Slide 4: Your Solution
  • Slide 5: The Market
  • Slide 6: Business Model
  • Slide 7: Your Advantage
  • Slide 8: Competition
  • Slide 9: Marketing and Sales Plan
  • Slide 10: Financial Forecasts
  • Slide 11: Milestones and Funding
  • Slide 12: Capital and Valuation
  • Slide 13: Questions
  • Presentation Style Guide

Exiting the Venture

  • Early Exit Definition
  • Closing Up Shop
  • Overview of Selling a Business
  • Private Equity
  • Public Offering
  • Bankruptcy
  • Benefits of Getting Acquired vs IPO

Management and Operations Category

entrepreneurship

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