Entrepreneurship: Turning Ideas into Enterprises
Introducing an opportunity to commercialize your work!
Entrepreneurship: Turning Ideas into Enterprises
- Commercialize your Idea!
- The class provides students the tools to take an idea and frame it so it can become a company
- The class would not turn people into accountants or financial wizards but instead will help them frame their ideas so they can be put into a structure that ultimately can become a company.
- This is a one-week class with essentially 40 hours of student-teacher interaction followed by student research over a 2 week subsequent period followed by submittal of a written presentation package to the instructor.
- June 10-14, 2013. 8:00am-5:00pm every day including lunch.
Undergraduate, Graduate, and Faculty are invited to enroll in an intensive, one-week course with renowned entrepreneur and Tech graduate Dr. Raul Deju. This course targets students who are interested in a specific idea for entrepreneurship. The week long session involves a high-level of interaction between faculty and students. Prospective students are required to present an idea for a start-up company they want to build before they embark on the class. Dr. Deju and colleagues will provide unique instruction about pitching an idea, funding a start-up, building an entrepreneurial team, market research and analysis. Class limit is 16 students.
About the Instructor
Dr. Raul Deju, 63, is a New Mexico Tech Alumnus and is most recently the former Chief Operating Officer of Energy Solutions. Prior to this appointment Dr. Deju served as President and Chief Administrative Officer from October 2006 to December 2008. Before joining EnergySolutions, Dr. Deju served as one of the founders, President and Chief Operating Officer of ISG Resources from 1997 to 2002, which was merged with Headwaters Incorporated, and stayed as President of Headwaters' Resources Group from 2002 to 2004. Prior thereto, he served as Western Regional President of Chemical Waste Management, Inc. and in senior executive positions at International Technology, Inc. (now Shaw Group) and at URS, Inc. Dr. Deju started his professional career with Gulf Oil Co., principally involved with its Uranium Mining subsidiary and later on at the DOE's Hanford Site. Dr. Deju served in Advisory Committee Roles with the U.S. Secretary of Commerce and the U.S. EPA Administrator. Dr. Deju received both his B.S. and his Ph.D. from the New Mexico Institute of Mining and Technology. Dr. Deju has served on the faculty of the
Please submit this one-sheet by May 1, 2013 to allow us to screen candidates for this class as total attendance will be limited to 16 students. We should have candidates screened by April 29th. All selected candidates will received a detailed syllabus by April 30th so they can properly plan for the class. Applications can be emailed to Michael Olguin, Jr at email@example.com or turned in at the Office for Advancement. Questions can also be submitted to Michael Olguin, Jr.
Class: 3 Credits or Free of charge.
Here is my outline as to how such a class would be framed.
Students would purchase the following books:
a) Now Build a Great Business by Brian Tracy, Mark Thompson and Frances Hesselbein;
b) The Power of Professionalism by Bill Wiersma and
c) Admired: 21 Ways to Double your Value" by Mark and Bonita Thompson.
There would be a reading assignment to be completed prior to Day 1 and then the balance would be read during the week of the class as part of the homework.
The curriculum would be done following a detailed syllabus that will be provided to you by April 30th, 2013.
June 10-Day 1. Firming up conceptualizing your idea. During this class we would make a presentation on how entrepreneurship works and what are the patterns of successful entrepreneurs. We would also analyze people that have achieved what a student entrepreneur is attempting to do and how they were able to be successful. We will introduce the concept of "Blue Ocean Strategy". As part of Day 1 we would have the students work on conceptualizing their idea and developing what I call an elevator pitch which is a 3 minute or less description of what the proposed company will do, how will it do it, why is it a needed product or service, how you monetize it and where do you intend to get the money to launch it. This becomes the first benchmark for students to refine their concepts. Yes, it can be done in a normal day!!!!
June 11-Day 2. Building up the Best Product or Service During the second day we will focus on the components that one must follow to make sure that your future company designs the product or service in the most customer friendly way at the right price point and in a way no one else is able to do in the marketplace. We introduce the tools so students can carry out marketing research and competitive analysis. Through the day we also work on personalizing the use of
June 12-Day 3. It takes a Team In the third day we focus on the concepts for identifying the team members, contract support, advisers, investors, etc. that it takes to create a new company. How do you bootstrap your enterprise. How do you make it all look professional. How do you incentivize and motivate the team. We spend an entire day on the people issues connected with building a new company. Interspersed with the lectures we further refine the elevator pitch to incorporate the proposed organization for the new enterprise.
June 13-Day4. An all day immersion in the art of finance. Students will conceptualize the process to deliver a product or service and understand what they have to do to build their company. In Day 4 we will talk about how students look at cash flow, develop a P/L for their company and what are the resources they need to launch their company. We particularly emphasize providing information on traditional (angels, etc.) sources of investment for early ventures, as well as non-traditional approaches such as crowd-sourcing. At the end of the day students will develop a capital resources plan, identify sources of money, define uses of money and develop a 2 year cash pro-forma plan for their venture.
June 14-Day 5. Putting it all Together Day 5 is a giant laboratory day. Students now perfect their elevator pitch and put their company together. At the end of day 5 the students will make 3 minute presentations describing their new companies to a panel of judges as if they were seeking investment monies. Then we celebrate success!
2 weeks after the end of the class students must submit a written power point presentation to accompany their company's elevator pitch and incorporating all the class learning.
Classes would be roughly 8 am to noon and 1 pm to 4:30pm with appropriate breaks and home assignments.
This class is very intensive and requires a lot of interaction between faculty and students. Class limit is 16 students.It is essential that they have an idea as to what company they want to build before they embark on the class.