YF103 – New Venture Development

Building on the work done in the previous two courses, participants in this course will develop entrepreneurial and managerial competencies and skills, and apply the entrepreneurial model of vision for developing their own business.

Prerequisites

Participants in this course are expected to have completed Entrepreneurial Thinking including participation in the required team project for that course. This course is meant for students who have ideas for new ventures, for those who plan to be entrepreneurs, and for those who are currently involved in entrepreneurial activities. The course takes learners through the development of a business plan and provides relevant tools for starting out. Because some of the tools use Microsoft Excel, it is important that students be functional in this software before beginning this course. If any participant is unfamiliar with Excel or the .xlsx spreadsheet format in a similar software tool, we recommend that they be provided with instruction and practice in using the software before the course start date.

Learning Objectives

At the end of this course, you will be able to do the following:

• Clearly state the requirements for entrepreneurial success based on your own entrepreneurial model
• Understand and explain the relationship between personal planning, level of commitment, and the development of an entrepreneurial venture
• Participate in the actual process of formulating, designing, and structuring a new venture
• Develop a new venture feasibility study
• Develop a new venture business plan

Course Outline

The course is divided into the following lessons:

1. Overview of the Entrepreneurial Process
2. Entrepreneurial Self-Awareness
3. Opportunity Recognition and Awareness
4. Market Feasibility
5. Preparing the Business Plan
6. Financial, Legal, and Other Considerations

At the end of this course, each participant will undertake a self-assessment of their personal entrepreneurial characteristics, knowledge, and desire for locus of control.