Assignment 3 - 2008
April 27th, 2008Due Wednesday May 7, 2008
Two Sections
I. Portfolio Collaboration & Reflection
Remember the elements needed in a portfolio? Collaboration is one of them. It’s clear that for many of you, it’s a highly personal thing. Create a couple demo or sample pages from your portfolio. Perhaps it’s the front page with a mission statement on it. Or perhaps it’s one of your academic or personal pages.
Find someone you trust and respect. Get their opinion with regard to clarity and content. Do they clearly understand the intent or message behind your page? Does it convey who you are? Do they have any suggestions?
HW Questions
1) Create a couple prototype pages for your learning portfolio. You should write down what you want to convey to a reader: what message should they get? What mood should it evoke? What lessons did you want to convey?
2) Show your pages to a trusted person. Ask them what they think is the intent behind each page. If that person(s) offers advice or help (e.g. your trusted person may say: “I know someone who can help you get what you want”) Record all this information.
3) Ask a trusted person (can be the same one in the previous question) regarding suggested improvements.
4) Summarize the preceding (Items #1 to #3).
Section II Business Models
1. Which two businesses are you thinking of using for your project?
Assignment 3 - Spring 2008
April 26th, 2008Special Topic
Two Sections (Don’t feel compelled to create long answers)
May do this in your groups
I. Organizational Motifs
Your other class is: Organizational Theory & Knowledge Management with Prof. Tim Hargraves. You’re being asked to integrate some of the material.
Homework (Essay) Question:
1. What motif (from the other class) would adopt for your startup organization (for your current plan)? How does this make sense? How does this set the right culture into your startup? What are the pros and cons of using this motif versus another viable motif. You may use a comparison table to summarize your argument.
II. The Joys and Pains of Biotech Entrepreneurship
On Monday May 12, 2008, we’ll be holding class in the lectureship room in Room 005 in UW2. Joe Belanoff, Founder and CEO of Corcept Therapeutics, flies in from Menlo Park, CA with the sole intent to make a guest appearance at our campus.
Corcept is backed by some of the most reputable people in technology venture capital. Nevertheless, its drug and company is met with skepticism. The drug is also infamously known as RU-486 and is being applied in advanced human trials to treat Cushing’s Syndrome and Psychotic Depression.
It’s hard to point out a forerunner to something as controversial as RU-486. Thalidomide is the best example: it was know to cause some of the most gruesome birth defects in the late 50s. Largely banned, it turned out to be one of the only effective treatments for leprosy and multiple myeloma. Celgene is continuing to test Thalidomide in other cancer indications. (Disclosure: I am working an a comparative case study of Celgene and Corcept as startups)
Required Reading
1. The Case of the Notorious Depression Drug (May 2007; San Francisco Magazine) - The seminal, easy to read, introduction to Joe Belanoff and Corcept.
Background Reading
This isn’t required, but depending upon your background in life science commercialization, you may use these pieces to help you answer the questions.
1. What the hell happened? (April 2007) - This was a post-mortem to the failed trials that caused the Corcept stock to crater.
2. Orphan Drug Act - Corcept is developing for an “orphan disease” called Cushing’s Disease. Why might Corcept develop for such a micro market?
3. Update for Class (April 2008) - This piece was originally written as an update in March 2008. It was revised and expanded for the class.
Homework Questions
1. Before and after the disastrous Phase III trial results were known, the management of tiny Corcept were confronted with a strategy choice. Based on available data, the management was fairly certain that the drug could successfully treat an orphan disease called “Cushing’s Syndrome”.
This would likely yield about $20M in annual revenues. With the extreme pricing allowed for orphans, this figure could be significantly higher. This would be like trying to bunt or hit a single.
On the other hand, the team originally came to swing the home-run: to pursue the “more humane and effective” treatment of psychotic depression. It could result in a large stream of revenues ($250M to $500M). This is like swinging for a home run.
As late as last Summer, the Corcept team appeared to decline the orphan opportunity. It has now changed course and is pursuing the opportunity.
What are the pros and cons of pursuing an orphan strategy? Do you think Joe’s team made the right call? Or should they have begun work earlier on Cushing’s Disease?
2. Tiny Corcept only has about 20 employees. Contract research was “pharmed out” to the United Kingdom and to India. The company also sports an unorthodox CEO paired with an experienced board. What do you think are the advantages and disadvantages of running a tiny, virtual biotech company like Corcept?
(By the way, Joe has one of the more strenuous travel schedules. Be sure to give him a rousing welcome)
3. What questions do you have for Dr. Belanoff?
Student Appointment Schedule
April 22nd, 2008My office in in room 336 in the UW1 Building (425.352.3259)
Wednesday, April 23, 2008
11:40am Adriana, Alanna, Whitney, Selena
Noon Kara, Justin, Kevin, Viddy
12:20 Tony, Tanner, Brian
12:40 Calvin, JaneAnn, Paul
1:00 Michael Woo, Rob, Kylie
1:30 Wisam, Karim, Anthony, Justin
2:00 Boyoung, Jiyean, Aika
2:45 Sam, Alexa G., Selena
3:15 Vanessa, Sabrina
Thursday, April 24, 2008
1:30 Alexa H
2:20 Richmond Ang
3:45 Michael Good
TBA
Lidia, Lara, Lucia, Andrew
Daniel, Jordan, Mike, Hal
Fishbowl Schedule
April 22nd, 2008
Wednesday, April 23, 2008
Rogue Yoga (Shannon, Amy, Betty, Jay, Rich)
Massage Franchise (Jodi)
Barcade (Gus, Dan)
Raptor (Rob, Alpesh, Chetan, Mark)
Monday, April 28, 2008
Grocery Saver (Ed, Kyle, Leila, Melanie, Tara)
Divertim
NASAD (Adam, Alicia, Christopher, Rachel, Ryan)
Basepin (Baemin, Bertin, David, Jeff)
Perfect Soccer (Evgenia, Amber, Gagan, Mark, Thiruvallur)
Non-digital Backups (Val)
EcoCycle (Cisco, Julie, Maarten, Shannon, Cisco)
Assignment 2 - Spring 2008
April 7th, 2008Due Monday, April 28, 2008
Business Plan Critique
Your team will grab someone else’s plan on Feb 5 and critique it. You should write comments directly into their plan. The individual team members may wish to use a different color ink, or you can simply use one color.
The Introduction to Writing a Business Plan includes checklists. You may also include additional items from your own lists.
You will hand in the critique to the instructors and we will grade the critique. Did you catch the major concerns with the plan? Do you have any suggestions? Do you have any referrals to help the authors?
Your team should share the critique with the authors.
Assignment 1 - Spring 2008
April 7th, 2008Due Monday April 21 at class
The Early Business Plan
You will create three clean copies of your business plan. You should not use any binding that makes it difficult to write onto your manuscript. Coil or comb binding is acceptable as well as stapling (don’t staple your final plan).
You will give two copies to the instructors and one copy to another project team. You should also grab one business plan from another project team.
What do we want in a business plan? You may wish to view a sample business plan and also to read through a draft booklet given to you on the first day of class.
What Will Happen?
Each business plan will be reviewed by at least two instructors or advisers. We will use a different pen color to identify each reviewer’s comments. Don’t be surprised (or put off) if the plan is painted reviewer comments.
Your plan will also be reviewed by another project team, but that critique will first be submitted to the instructors (see assignment 2).
Why an Early Business Plan?
It’s simply the most effective way to get you running. We know it won’t be perfect. This exercise will clarify what you must accomplish. It might also force you to abandon your original idea and totally morph. Don’t be afraid. I award style points for total morphs. Consult your instructors.
It also removes the mystery about how we approach business plans.
Yes, this is painful, but over the years, we found that the alternative is far worse.
Course Materials - Spring 2008
April 7th, 2008Introduction (April 7, 2008)
Budgeting
Financial Modeling
Marketing Primer (April 14)
Negotiation (April 16)
Sales Primer (April 21)
Trademarks & Copyright (April 30)
Sample Peer Review Form (Word Doc)
Three Examples of Graphics to Explain a Story
Echospace Executive Summary (The graphics were prepared in Office in 2000)
Echospace Financials (Your mileage may vary on this one, but it’s an example)
IMCentric Early Draft Business Plan (2001 Class; This was actually the early business plan)
Sample Business Plan & Sample Spreadsheet
Zen Chai Business Plan (pdf format) (2006 Class - some of the marketing / interview / pricing data has been yanked)
Zen Chai Spreadsheets (xls format) (Among the better of the simplified formats)
Plastic Payments Spreadsheets (xls format) (A simple spreadsheet, but it does provide for a subscription model)
Assignment 2
April 7th, 20083-part Assignment Due Monday, April 21, 2008
Portfolio
If you downloaded the lecture slides, then you saw the following typical delineation for the portfolio. You’re not obligated to religiously follow this method of sectioning your portfolio. It’s a way to think about the items for inclusion. If you don’t section your portfolio in this manner, then you can just include a single mission statement for yourself.
Home or Index - Introduce yourself and welcome viewers by telling them a bit about what they can view in your portfolio.
Academic - Share what you have done and what you plan to do with your course work, highlighting what you learned from your favorite course or project. Add a pitch or mission statement. Highlight involvement in Academic Institutes. Offer samples of your academic work.
Personal - Share what you are involved in outside the classroom, highlighting an interesting experience. You may want to expand on your highlight of an interesting experience and how an out of class experience has helped you with your academic or professional development Add a pitch or mission statement.
Professional - Share some of your professional skills and traits, how you obtained them and how you use them, highlighting one of which you are especially proud. Add a pitch or mission.
Portfolio Homework Questions
1. Make a paper plan with the headings “Academic,” “Personal,” and “Professional.” Next, jot down topics or ideas that come to mind when you see each heading listed on the page. Finally, decide the topics and concepts that are most important to you and expand on those or highlight why they are important.
2. Propose the materials to be used. Do you prefer using a traditional scrapbook? Will you use a photo notebook? Or will you use a three-ring binder and customize your portfolio?
3. Set an appt with the instructor. Alan will bring a schedule of open appt times to class and then later hang it on his office door (UW1-336). Hopefully, you will have already set an appointment the week before this assignment was due. You may choose to meet with Alan with 1 or 2 of your classmates.
Business Ownership
The following reading has been adapted from a section in an old textbook. It highlights the first well-used airline reservation system. It also shows that new business models can emerge from within established companies. This is the definition of “Intrapreneurhip” (new ventures inside established companies) as opposed to “Enterpreneurship” (new startups). It doesn’t explicitly explain every detail for its business model; you might have to read between the lines. It’s well worth it.
1. Contrast the old model (phone calls) and the new business model (represented by Sabre) used by American Airline. You can use a format similar to here.
2. Summarize each model with a catchy 1 or 2-sentence description. For example: “Sabre is the Amazon.com of Airline travel: it brings airline schedules straight to the consumer”. (It’s not accurate, but I am just making an example).
3. In the late 90s, Orbitz and Expedia began casting its shadow. If you were managing Sabre, what would you do to meet this competitive threat?
4. From what functional area (e.g. information technology, marketing, sales, accounting, operations, human relations) did the Sabre project champion hail? You can give a simple one-sentence answer.
Landscaping Business Models
On April 14 and April 16, the owners of two different landscaping businesses visit our class. Be sure to ask enough questions to adequately answer the homework.
1. Define and contrast the models as well as the critical issues (i.e. strengths and weaknesses) of Greenpoint Landscaping vs. InHarmony Landscaping.
2. What were the original motivations for Peter Roberts and Ladd Smith to start their businesses? What motivated each to evolve their business to its present design?
Assignment 1 - 2008
April 1st, 2008Due at Class on Monday, April 8, 2008
Did I tell you that I front load my classes? I want 2/3 of the reading and concepts finished by the halfway point of the course.
Introduction to Writing a Business Plan v1.99 (revised April 7, 2008) - Read p 4 to 5 and then p. 7 to 8. This includes the section on the 5 Sacred elements of a business model and the elevator pitch. Both are essential readings for all business professionals
Portfolio Keeping (Class Text) - Read the 1st 3 Chapters (up to p 23) Don’t need it for this assignment
Optional Readings
Greenpoint Landscaping - Peter Roberts, co-founder of the Student club, is the entrepreneur behind this company.
The Gardening Service for the Upper Crust - The Hazel case from class
Answer the following questions:
Business Ownership
1) Choose a company that is really accessible to you or if you don’t have a readily accessible company, you may use the Hazel case from class. Outline the business model and also create a table that outlines strengths and weaknesses of the model (e.g. scalability, profitability, simplicity, labor intensity, capital requirements, typical crises). You don’t have to interview. It’s to get you going. You may ask in class for what this looks like.
Here are some hints: what type of skills / education is required in the owners and employees? Did the owner have to create an entirely new market? Or did the owner “tweak” an existing niche? Does the business require special work hours?
2) Create two types of elevator pitches for the business. It doesn’t have to be perfect and you may have to assume 1 or 2 things about the business. Be ready to present at class. a) The first pitch is an informational pitch. It’s not your business and you’re wanting to quickly explain it to me; b) The second pitch is “persuasive” or compelling.
The Learning & Best Works Portfolio
An artifact is a concrete item. It can be a project paper, power point presentation, piece of art, or media presentation. In this context, it’s something you created during your time at UWB.
Examples of Educational Portfolios at Kalamazoo College
The examples aren’t as strong as last year’s freshmen portfolios, but there are at least two reasons for this:
a) Much of the Kalamazoo student time is devoted to designing web pages
b) I’m sure that many personal reflections are not being displayed. That’s because some of these can be…very personal.
Answer the following questions
1) Describe an artifact that is associated with your most concentrated or meaningful learning to date. What were the lessons learned? What does this tell you about yourself as a professional or student?
2) Describe an artifact that is associated with your best work to date. “Best” is obviously subjective but you should imagine that you’re trying to impress an audience (e.g. potential employer, peers, professor, significant friend).
Homework Style
Your homework should be typed (printed) and not handwritten. It should be professionally neat. You should strive for a concise style, but not be forced to create a brief document.
You may use bullet points and your instructor loves tables and graphics.
You may list the question and then provide the answer.
Avoid double-spacing, but use single- or 1.5-spacing.
Use 11 or 12 point font.
Syllabus & Class Materials - 2008
April 1st, 2008The Syllabus will get continually updated at the speakers step forward.
Course Syllabus Revised April 26, 2008
Introduction to Writing a Business Plan v1.99 (Also revised on April 7, 2008) - You won’t need to read most of it, but it’s being made available to you.
Lectures
introduction (March 31, 2008)
Portfolios 101 (April 7, 2008)
Business Entities (April 30, 2008)
Loans and Startup Resources (May 5, 2008)
Degrees of Change (May 14, 2008)