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Welcome!. Dr. Randy Blass Director, The Jim Moran Institute for Global Entrepreneurship. What is a Social Entrepreneurship Challenge?. The idea is to present a business solution to a social problem or issue.

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Presentation Transcript
slide1

Welcome!

Dr. Randy Blass

Director, The Jim Moran Institute for Global Entrepreneurship

what is a social entrepreneurship challenge
What is a Social Entrepreneurship Challenge?
  • The idea is to present a business solution to a social problem or issue.
  • Participants are encouraged to form teams of three to four students to draft a plan for creating and sustaining a business solution to a social problem, such as poverty, illness, illiteracy, environmental destruction, human rights abuses, and corruption.
  • The business solution can use a for-profit or nonprofit model.
the basics
The Basics
  • The competition is for students enrolled in a degree program (students in certificate programs are not eligible) in the current academic year, i.e., from August/September 2012 through June 2013.
  • There is no entry fee associated with the Social Entrepreneurship Challenge.
  • The competition begins tonight and ends on 9 November, 2012.
  • Winners will be announced at the progressive luncheon.
the basics1
The Basics
  • The competition will include the development of a proposal that identifies and solves a social problem.
  • Specific format to be used:
    • Problem, Opportunity, Venture, Sustainment, Executive Summary, Supporting Documentation and References
  • Judging will be based on soundness and viability of ideas and how well that is communicated.
prizes
Prizes
  • Breakfast with eMonth Progressive Luncheon keynote speaker, author, business executive and entrepreneur, Andreas Widmer
  • Travel costs and entry fees for national entrepreneurship competitions
  • Consultation and preparation sessions for national entrepreneurship competitions
  • A professionally produced video pitch for national entrepreneurship competitions
timeline
Timeline
  • Kickoff WorkshopTuesday, October 2 @ 5:30 p.m. in Rovetta room 108Intent to Propose DueSaturday, October 6 @ 12:00 a.m. via email submission to rlfrazier@fsu.eduProposal Development by StudentsOctober 2 through November 9Proposals DueNovember 10 @ 12:00 a.m. via email submission to rlfrazier@fsu.eduJudges EvaluationNovember 10 through November 15Announcement of Winners @ eMonth Progressive Luncheon
what is an ahn truh pruh nur
What is an ahn-truh-pruh-nur?
  • an owner or manager of a business enterprise who makes money through risk and initiative
  • a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome
  • one who undertakes an enterprise, especially a contractor, acting as intermediary between capital and labor
entrepreneurship
Entrepreneurship
  •  Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled. - Howard Stevenson
  • Entrepreneurship is at the intersection of an idea that solves a problem and the actions taken to implement the idea. - Randy Blass
entrepreneurship1
Entrepreneurship

I

D

E

A

ACTION

Entrepreneurship

  • Entrepreneurship is at the intersection of an idea that solves a problem and the actions taken to implement the idea – IDEACTION
      • Randy Blass
proposal outline
Proposal Outline
  • The following is the outline to be used for your venture proposal:
    • Problem (the social problem)
    • Opportunity (the proposed solution)
    • Venture (the entity that will deliver the solution)
    • Sustainment (how the entity will be continue to exist)
    • Executive Summary (to be presented live at luncheon)
problem identification
Problem Identification
  • Provide a brief background and overview of the social problem that will be addressed.
  • What is the problem? Be careful to avoid symptoms.
    • When symptoms are the focus, the underlying problem still remains.
    • Potential donors to your venture will be very keen to this.
  • What is the scope of the problem?
  • What are the symptoms of the problem (these may be areas you measure later to determine impact of venture).
problem identification1
Problem Identification
  • What are the populations involved?
  • What is the geography involved?
  • Why do we care?
    • Just because it is a good thing to do, is not good enough. We need to be compelled to get involved either with our time or money.
  • Articulating the problem well, sets the stage to present the opportunity.
  • Consider socio-cultural forces at play – will people even care? Why should they?
opportunity recognition
Opportunity Recognition
  • In thissection present the solution your team is proposing.
  • This should be a comprehensive statement of the opportunity to be pursued in the social venture.
  • A clear vision statement should be included in this section.
    • The vision statement should be based on the social value proposition created by the convergence of people (stakeholders), capital (revenue generation, grants, donations, etc) and opportunity as impacted by demographics, political forces, economic forces, socio-cultural forces, regulatory directives, and tax considerations.
  • Basic market analysis.
    • An analysis of the market shows that you have done your homework. This can be a summary of your marketing plan. It needs to show the need for your venture or service, the proposed market, trends within society, a description of your services or product and a description of your company policies.
opportunity recognition1
Opportunity Recognition
  • Consider using SWOT to frame this discussion (but it is not required and should not be labeled as such).
    • Strengths
      • Why your idea, why you and your team,?
    • Weaknesses
      • What will need or have to overcome?
    • Opportunities
      • What are the external enablers? Grants? Public Opinion? Recent events? No competition?
    • Threats
      • What are external obstacles (Economy? Public Opinion? Recent events? Competition?
  • All points identified in this section should be directly addressed as leveraged or mitigated in the analysis section that follows.
venture creation
Venture Creation
  • This section presents the many components of your venture proposition, both quantitative and qualitative (as applicable). A clear mission statement should be included in this section. The mission should be based on leveraging operations, cash flow, and venture management. Breathe life into your venture. Bring us along. Make it real. How will it work? What will it be like? Why will it work? What is the cost benefit or return on investment? Who is the customer and what is the product?
venture creation1
Venture Creation
  • Please use sub-headings to separate the different topics in this section:
    • Operations. Describe the day-to day operations that will solve the problem.
      • Who does what?
      • How much is produced or provided and how?
      • It’s important to keep the description easy to read using common terminology.
      • Never assume that those reading your proposal have the same level of technical knowledge that you do.
      • Describe how you plan to better serve your market better or differently than other organizations are currently doing.
venture creation2
Venture Creation
  • Financing. The Financing section must show that you are as committed to your venture as you expect those reading your proposal to be.
    • Show how you will be a careful steward of the funds you will receive and specifically how the money will be spent.
    • Include the amount of capital you need for both short and long term (sustainability) horizons and your plan to raise these funds.
venture creation3
Venture Creation
  • Management. Outline your organizational structure and management team here.
    • Include the legal structure of your business.
    • Show staffing projection data and management of human capital.
    • Will the venture have paid staff, volunteers, or some combination of the two.
    • Where will you find these people and how will you retain them.
    • What are your training needs and how will you ensure quality?
    • Also use this section to discuss people, demographics, political forces, socio-cultural forces, sources of funding, efficiency, effectiveness, mission, roles, impact, alliances, growth, performance measurement, etc.
    • Don't forget to tell the reader “what's in it for them" (also known as "why do we care?").
    • Consider using summary tables, charts and graphs in this discussion, they can often convey information better than words.
sustaining the venture
Sustaining the Venture
  • Recommendations for all of the previously stated problems should be provided here.
  • The recommendations should be both specific and comprehensive and should follow directly from the propositions in the venture creation discussion.
  • New ideas should not be introduced here, this is where you explain how you will continue to do what you have previously proposed.
  • What is your long-term plan for funding your operations?
sustaining the venture1
Sustaining the Venture
  • How will you measure and report performance?
  • What is the sustainment strategy? Growth strategy?
  • How will you show it is working? Are symptoms going away? Is the gap between what is and where you want to be, closing?
  • Is there an end state (vision)?
  • How big is big enough? Is there such thing as being too big?
  • What model will you use for growth (Franchise? Affiliate? Independent?)?
  • Is there an exit strategy for you personally?
  • What is the governance plan for managing growth?
executive summary
Executive Summary
  • A half-page summary of the social entrepreneurship venture and the social problems and issues that will be addressed. Include a brief overview of why this approach will be effective and the anticipated fiscal needs of the venture. Every venture idea must begin with an Executive Summary section.
  • A well-written Executive Summary is critical to the success of the rest of the document. Here is where you need to capture the attention of your audience so that they will be compelled to read on. Remember, it’s a summary, so each and every word must be carefully selected and presented.
executive summary1
Executive Summary
  • Use the Executive Summary to communicate your “elevator pitch.”
    • Quickly paint a vivid picture of the problem,
    • transition into how your solution “fixes” the problem,
    • then explain briefly explain how you will operate the “fix,”
    • then close with how you will sustain the operations. This is typically the statement of need or the articulation of the financial support you require the solve the problem with your venture.
  • The top finalists will “pitch” their executive summary live at the progressive luncheon.
quality of writing
Quality of Writing.
  • All proposals are expected to be proofread prior to submission. All unclear phrasings, grammatical errors, and misspellings will be penalized.
  • Always remember that any proposal that clearly communicates the information intended with fewer words "wins.“
  • If different group member write different sections, be sure to read for “common voice” and style.
supporting documentation
Supporting Documentation
  • Appendices
    • Appendices may be used to include further details of the proposal research. Computer output (studies, reports, etc) from internet searches and any other analyses may be included here.
  • Endnotes and References
    • Proper referencing must be done. Provide proper endnote citations to data and information sources used in the final report. Specific bibliographic citations should also be provided in a standard acceptable format under the heading "References." Use APA referencing format.
questions
Questions

The Jim Moran Institute's

Social Entrepreneurship Challenge