ENTRE 530 Entrepreneurial Decision-making, Fall 2009

Emer Dooley and Andy Sack

Office: 120 Lewis Hall

Office Hours: M/W 12-1pm. or anytime by appointment

E-mail: emer at u.washington.edu and asack at asack.com

Phone: 206 369 7248

Meeting time and location: Monday and Wednesday 1:30-3:20pm Balmer 416

Course Description

The course provides an overview of the major decisions entrepreneurs face when creating a business. In a short ten-week survey, we will attempt to cover the startup lifecycle from idea generation and opportunity recognition to entry strategy, growth and exit. Classes will be a combination of case study, discussion and lecture. The structure may be more fluid than standard. In the spirit of entrepreneurship we’ll be trying lots of new ideas. Be flexible!

Course Objectives

1. To provide students an opportunity to learn enough about making decisions when you have nothing-like complete information.
2. Help students decide if this is something they’d like to pursue further and help initiate the process of building a network
3. To give students an opportunity to think more deeply about entrepreneurial decision making, by interviewing a local entrepreneur and outlining a key decision they’ve made or are in the process of making.

Grading

Being an entrepreneur is about taking an opportunity and running with it. So is this class. Class participation is a key element of the class. Each week two to three students will be responsible for the class discussion with the invited guest. It will be your job to get all the pertinent information in advance and use your time in class to interact with the entrepreneur. We’ll discuss this on the first day of class.

On the days there is a case study assigned you will be expected not just to have read the case but to be familiar with the numbers, ready with answers to assigned questions and able to defend your conclusions. You are expected to have an opinion.

1. Assessment of a local entrepreneur 30%

Identify and interview a local entrepreneur.

Entrepreneur must be identified by October 26^th

Each person will present a one-slide analysis of the highlights of the interview on December 9th.

The class will vote on the three or four best/most interesting, who will then be given time to develop a longer presentation for discussion.

2. Write up class notes for webpage once per quarter 10%

3. Attend and submit a two-page review of a local entrepreneurial event 25%

4. Class participation: 35 %

1. Introduction of visiting founders and guests and topic-appropriate questions.

2. Case preparation and recommendations.

Required Reading: Reading packet available from University Bookstore

Date	Topic	Guest
September 30^th	Introduction	Rich Barton, Founder Expedia, Chairman and CEO Zillow.
October 5^th	Should I start the Company or take the job? Prepare: Joyce Ten Case Study. Read: Jeffry A. Timmons and Stephen Spinelli, “The opportunity: Creating, Shaping, Recognizing, Seizing.”	Chris Ruff , President and CEO, uiEvolution
October 7^th	What should my business model be? Read: Note on Business Model Analysis for the Entrepreneur Richard G. Hamermesh, Paul W. Marshall, Taz Pirmohamed	Emer and Andy
October 12^th	Web 2.0 Business Models Prepare case: Facebook William P. Barnett, Mark Leslie, Mike Harkey	Emer and Andy
October 14th Ian Courtnage	Read: Ch 3 Web 2.0: A Strategy Guide, Amy Shuen.	Ben Huh, Founder and CEO, Icanhascheezeburger and Geoff Entress, Angel Investor and Venture Partner at Voyager Capital.
October 19^th	Business Models	Todd Sandal
October 21^st	Read: Ch 1 & 2, Web 2.0: A Strategy Guide, Amy Shuen.	Jonthan Sposato, CEO Picnik
October 26^th	Resources: People Prepare: Heidi Roizen Nicole Tempest, Kathleen L. McGinn	Building your network: Rebecca Lovell and Nathan Kaiser, CEO npost. Due: Entrepreneur Identified
October 28^th	Resources: Money Read: “Financing New Ventures,” Robert A. Baron and Scott A. Shane, Entrepreneurship: A Process Perspective, South-Western (Thompson), 2005. Pp. 186-208.	Emer and Andy
November 2^nd	Resources: Money Raising Angel Capital Read : The Entrepreneur’s Guide to Business Law. Chapter 8. Constance Bagley and Craig Dauchy.P 189-227.	Charles Seybold, Co-Founder and CEO, Liquid Planner.
November 4^th Mark Tanjuto	Resources: Money Raising Venture Money Read : The Entrepreneur’s Guide to Business Law. Chapter 8. Constance Bagley and Craig Dauchy.P 227 -236.	David Bluhm, President and CEO, and Damon Danieli, CTO, Z2Live:
November 9^th Bootstrapping:	Read: Bootstrap Finance: The Art of Start-Ups Amar V. Bhide	Bob Pritchett, Founder and CEO, Logos Software.
November 11^th	Veterans Day No Class
November 16^th		Terry Drayton Ex-Founder and CEO, and Deb Crabbe, Bankruptcy Counsel, Countmein.com
November 18^th	Prepare Case: Asheshi University Read: “The Origin and Evolution of New Businesses,” Amar V. Bhide, Oxford University Press, 2000, Pp.3-23.	Patrick Awuah, Nina Marini, Founders Asheshi University, Ghana. Growth: Lecture Emer
November 23^rd	Andy and the Kefta Story
November 25^th	Pre-thanksgiving No class Read: Jeffry A. Timmons and Stephen Spinelli, “Exit Strategies for Entrepreneurs: When And How To Harvest The Rewards.”
November 30^th	Selling the Company Prepare: Company Prospectus. To be distributed.	Bill Pearsall, Business Broker.
December 2^nd Selling the company	The VM Space and Go-to-market strategy Prepare: XenSource Mark Leslie	Frank Artale, CEO, VP Business Development, Citrix
December 7^th	Interview discussions
December 9^th	Interview discussions and wrap up.

Case Preparation Questions

Facebook

1. Why is the speed of growth important to Facebook’s success?

2. Do you think that Facebook and MySpace can co-exist in equilibrium in the same community (such as a university)? Why or why not? What are the implications of your answer for Facebook’s strategy?

3. What should Zuckerberg do in the next six months to develop Facebook’s organization?

Why? Be specific, elaborating on how you would manage each function in the company (marketing, sales, product development) if you were Zuckerberg.

4. Would growth into other countries make sense for Facebook? If so, what would need to be done organizationally to make this work?