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Exploring Entrepreneurship: Navigating Opportunities and Business Strategies

This course provides insights into starting a business, highlighting the importance of having a backup plan (Plan B) alongside your primary business idea (Plan A). Discover how to build a strong team with diverse roles - hacker, hustler, and hipster - and learn about the tax implications of sole proprietorship. Participants will engage in real-life business scenarios, develop a solid business model, and understand the necessity of good record-keeping. Join us in transforming theoretical knowledge into practical applications that drive entrepreneurial success!

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Exploring Entrepreneurship: Navigating Opportunities and Business Strategies

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  1. OPMT 4438 Week 1 – March 18th, 2013

  2. http://www.wavefrontac.com/

  3. http://vef.org/

  4. http://gangplankhq.com/vision/

  5. Course Approach “There are no spoons, only danger!” Pirate by Sincere Stock, CC by 2.0

  6. Starting a new venture? • Who already has a business they are working on? • Who would like to start a business some day? • Good to have a “Plan B” • It might end up being better than your Plan A • E.g. Procurifyexample

  7. Building a killer team • Hacker • Hustler • Hipster

  8. http://www.procurify.com/

  9. !!!! http://www.techvibes.com/blog/growlab-announces-its-five-winter-2012-cohort-companies-2012-11-20

  10. … another student grad that pursued his “Plan B” http://www.nytimes.com/2008/01/13/business/13digi.html?pagewanted=all&_r=0

  11. Tax Implications of Sole ProprietorshipAre you really a business? You must have a “reasonable expectation of profit,” can’t be using business to create a lossYou must have good record keeping and a start date • Revenue • $500 • Salary: • $40K • - 5K business loss • ==== • $35K taxable income • $1500 tax refund • Expenses • - cell phone • - Internet access • - part of your rent or mortgage interest • - part of your car • - office supplies • - $10 /yr domain • - $70 • - $5500

  12. Make it count! • Why waste your time doing a fictional project when there are opportunities in “real life”! • Developing a business model is a great way to see how the business courses you are taking at BCIT tie together

  13. Stephen Blank Good to watch from 4 to 6 min. mark http://uk.reuters.com/video/2012/05/02/steve-blank-on-entrepreneurship-part?videoId=234868221

  14. Business analysts act as intermediaries betweenbusiness units and developers Marketing Accounting Business Analyst (MIS Major) Developer Human Resources Finance

  15. http://www.businessmodelgeneration.com/canvas

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