Foundations of Entrepreneurial Leadership

1. Class 10 – Management and Operations Foundations of Entrepreneurial Leadership Management Team and Operations MGT 190/290 Prof Frey: Frey@gwu.edu Source: Derived from an original PPT by Dr. Susan G Duffy, Simmons College

2. Class 10 – Management and Operations Today: • Status update and impromptu quiz • Center Point leadership • Management and Ops • Prep: Mgt and Ops feas plan

3. Class 10 – Management and Operations - status The Point System

4. Class 10 – Management and Operations - status Preview • April 2 - Speakers • Mgt & ops due • April 9 – Harvest discussion • Mentor interview due + milestone, harvest, exec summary draft • April 16 – PRESENTATIONS (8) • Exec sum draft #2 due • April 23 – PRESENTATIONS (8) • Feas Plan draft (total) due • April 30 9-12 am – PRESENTATIONS (5) / Salon Series Mentor Breakfast • Mentor assmt due (Feas plan due by May 12 to MGT 315)

5. April 30 Agenda 9 am – 12 - status • 9.00 - 9.30 • Coffee and networking • 9.30 - 10.30 • Student Intro, Student pitches • 10.30 - 11.30 • Student experience share • Intro, Speaker and Q&A: Hon Anita K Blair, former Asst Secy of the Navy • 11.30 - 12.00 • Networking (Mentor assmt turn in & Feedback forms)

6. Highlight of topics covered to date: Thinking entrepreneurially Your personal strengths, weaknesses Your passions and interests Reflections on female leaders Ideas & myths about entrepreneurship PITCH & “PMP” Your personal “pitch” – bio Doing research Networking Negotiation Communication Financial Literacy labs Mentoring – your ideal Mentoring – peer Mentoring – outside of class Readings Speakers Plan-Concept development Plan-Industry context Plan-Market and Competition Plan-Financials Grad students: Book Club Class 10 – Management and Operations - Quiz

7. Communication and PITCH perfection1) Get into it (speak from personal vantage point). EXAMPLE2) Speak authoritatively. Thinking entrepreneurially Your personal strengths, weaknesses Your passions and interests Reflections on female leaders Ideas & myths about entrepreneurship PITCH & “PMP” Your personal “pitch” – bio Doing research Networking Negotiation Communication Financial Literacy labs Mentoring – your ideal Mentoring – peer Mentoring – outside of class Readings Speakers Plan-Concept development Plan-Industry context Plan-Market and Competition Plan-Financials Grad students: Book Club Class 10 – Management and Operations PMP

8. Class 10 – Management and Operations – Center Point Center Point leadership model discussion • Challenging and Changing • Nurturing Trust • Collaborating to Achieve Results • Holding Boundaries with Flexibility • Encouraging Values and Action • Standing in My Authority • Embodying the Future

9. Class 10 – Management and Operations – Mgt & Ops Today: • Management and Operations • Why is it important? Kimberly and Jason case discussion

10. Anatomy of a Feasibility Plan Executive Summary Concept Value Proposition Value Model Industry/Context Market General Specific Competition Direct/indirect Strategic Differentiation Financial Information Startup Costs Pro Forma Income Statements Balance Sheet Sources of Funding Management Team (incl. advisory board) Operations Milestones Harvest Strategy EXECUTIVE SUMMARY DUE IN NEXT CLASS - Mgt Team draft - Ops draft You are here

11. Class 10 – Management and Operations Management Plan • Team and Structure • Management team and roles • List and backgrounds of advisors • List strategic alliances • Tip: Present team member bio. • Tip: Project needs for staff in the future. • Tip: What function in the company will they be handling?

12. Class 10 – Management and Operations Operational Plan (see notes on blog) • Business location • Tip: List advantages • Product/Service Plan • Detailed description of product/service • Supplier/Manufacturing/Inventory detail

13. Class 10 – Management and Operations Operational Plan – Part 2 (see notes on blog) • Sales & Marketing Strategy • Product • Example: Mature product • Example: New/introductory product • Place • Tip: Sales strategy • Price • Internal/Cost perspective • External/market perspective • Promotion (continued….)

14. Class 10 – Management and Operations What is promotion? (the 4th P) • Promotion • Advertising • Tip: Advertising value • Publicity • Tip: Made you look! • Personal Selling • Tip: Relationships

15. Class 10 – Management and Operations • THINK AHEAD: Milestones • Major Year 1 Tasks and Future Goals • Tip: List dates and status too • Tip: Be as specific as possible • THINK AHEAD: Harvest Strategy • Sale • IPO • Grow and hold?

16. Off-Line: Starting and Managing Ventures What is needed to start a new venture: Vision: Big Picture Focus Innovation: Creativity Passion A Market Orientation Tolerance for ambiguity What is needed to managea new venture: Attention to Detail Delegation of Authority and Responsibility Leadership Financial Skills Tenacity, Follow Through Planning & Organizing Establishing Controls

17. Off-line “Staffing for Strength”Building a Winning Internal Team • Assess Your personal strengths and weaknesses • Hire people who compliment your weaknesses • Determine your venture’s short and long-term goals and objectives • Develop a long term staffing plan

18. Off-line Feasibility: Operations • Outline key operational issues • Hours of operation • Staffing • Physical Plant • Outsourcing • Include diagrams, models, images • Help plan readers understand your venture operations

19. Off-line Feasibility: Advisory Board • Strategic choices • Expertise: legal, fiscal, industry/business • Access to Funding • Introduction to Networks • Profile/Public Relations • List advisory board candidates • Who • Role: Value to venture • Process for board communication • Formal and informal • Location and frequency of meetings

20. Off-line Feasibility: Strategic Alliances • Banker, Capital Sources • Lawyer • Accountant • Key suppliers of your product • Business that compliments your business • Small Business Internationally • Forming associations and cooperatives