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Technology in Entrepreneurship Programs

Technology in Entrepreneurship Programs. Association of Christian Community Computer Centers (AC4) National Conference November 11, 2003. Purpose, Agenda, Limit. Purpose:. To discuss how you can launch a technology-based business from your CTC. Agenda:. Panelist Introduction 5 minutes

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Technology in Entrepreneurship Programs

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  1. Technology in Entrepreneurship Programs Association of Christian Community Computer Centers (AC4) National Conference November 11, 2003

  2. Purpose, Agenda, Limit Purpose: To discuss how you can launch a technology-based business from your CTC Agenda: • Panelist Introduction 5 minutes • Panel Objectives 5 minutes • Panel Discussion 40 minutes • Question and Answer 40 minutes Limit: 1 ½ hours

  3. Introductions Paula Billups Educare Technologies www.educare-tech.com pbillups@educare-tech.com Kevin Chien AC4 www.ac4.org Chien_kevin@gsb.stanford.edu

  4. Educare TechnologiesBackground / Mission • Founded: January, 2002 • Mission: To fulfill our client’s need for innovative technology-based learning solutions which “develop leaders”. • Strategic Focus: Instructional Design, Technology Planning, Youth Programming, Strategic/Business Planning, Private-Public Partnership/Collaboration

  5. PREP EnterprisesBackground / Mission • Founded in Q1 2001 • ‘Making a living and making a life’ • Web design business offering • Real business experience in a team environment • Technical skill improvement • Spiritual mentoring

  6. Workshop Objectives • To discuss the need for youth entrepreneurship training. • To examine the use of technology in youth entrepreneurship training. • To review curriculum and resources for youth entrepreneurship programs. • To provide you with information on tools and resources which help youth harvest and nurture their innate gifts, talents.

  7. Why Youth Entrepreneurship Education? • Teens that are engaged in activities which engage their passions are less likely to engage in activities that may lead them into trouble. • Teens need to understand concepts related to business, economic development, self-sufficiency and their options in a free-market economy. • Teens identify and explore their spiritual gifts and passions at an early age and are encouraged to use these talents to benefit society. • Teens re-focus on educational pursuits to help further their skills.

  8. Scope of Discussion • Entrepreneurship instruction, primarily to youth • Nuts and bolts of starting a youth web design and development company • Other entrepreneurship models, including case study of BMOA • Your questions

  9. Steps to Start a Entrepreneurship Program • Recruiting students • Teaching basic start up business skills • Obtaining new business

  10. Recruiting Students • Speak in their language and know their “currency” • Find a few influential teens and focus on winning them over first • Offer a clear path and timeline • Set expectations clearly

  11. WHAT NOT TO DO. . .MARKETING ANALYSIS- THE 5C’s • Company • Internal Analysis. Company Strengths & Weaknesses, financial position • External Analysis. Industry & General Trends • Competitors • Both current and potential competitors need to be identified. Competitors strengths, weaknesses, reactions, objectives, and strategies need to be assessed. Landscape and barriers to entry also need to be evaluated • Collaborators • Downstream trade and upstream suppliers are important partners in the marketing system and their positions and goals need to be assessed. Value chain analysis (whoa has the power?), buyer selection, supplier strategy, etc. • Context • Technology, culture, politics, regulation, law, and social norms are not fixed features of the marketing landscape, but factors to consider and monitor for signs of disruption • Customers (see also flow chart in promotion) • Effective marketing require in depth understanding of customers’ purchase and usage patterns. Areas to consider are: • The Decision Making Unit • Who is involved in the process? • What roles does each play? (1) Initiator, (2) Decider, (3) Influencer, (4) Purchaser, (5) User • The Decision Making Process • Is there search for information? • How? • What criteria are used to evaluate alternatives? • How important are the various attributes? • How did DMU member interact? • Other considerations • Where do customers wish to buy? • How is the product to be used? • How frequently will it be used? • How Important is the problem it resolves? Marketing Analysis (The 5C’s) Company Competitors Context Customers Collaborators Target Market Selection Product and Service Positioning Market Segmentation Creating Value Marketing Mix (The 4 P’s) Product & Service Place/Channels Promotion Capturing Value Pricing Sustaining Value Customer Acquisition Customer Retention Profits

  12. Industry Competitors Intensity of Rivalry Business Analysis Frameworks New Entrants Threat of New Entrants Suppliers Buyers Bargaining Power of Suppliers Bargaining Power of Buyers Threat of Substitutes Substitutes “The state of competition in an industry depends on five basic forces. The collective strength of these forces determines the ultimate profit potential of an industry.”

  13. Identifying the Business Food Stores Restaurants Fancy Coffee Shop Medium Priced Pizza Burger King Hotel Fast Food Burger Chicken Wendy’s Mc- Donalds Street Vendor Tex/Mex Low Priced Deli Cafeteria Question: What Business/industry is Burger King in?

  14. Research Structure Research • Components of research include primary and secondary research Primary Research Primary Research Secondary Research __________________________ __________________________ __________________________ __________________________ Def: Surveys Interviews Focus Groups Print (books, magazines) Internet

  15. Evaluating Your Ideas: Diamond Model Make Profit Enjoy Work Skills to Deliver Get Customers Maintain Ethics

  16. Winning the First Contracts Person to Person Advertising Mail A Cohesive Strategy Using One or More Methods Telephone Internet & Email Retail (Yours or Someone Else’s) Referrals

  17. What We Do • Work on Saturday AM’s • Bible studies • Community building times • We’ve served profit and non-profit companies, in the Boston area and beyond • Partnership with professional graphic design firm

  18. Our Work

  19. Our Work

  20. Our Work

  21. Our Work

  22. Key Lessons from Entrepreneurship Instruction • Maintain flexibility in class scheduling • Drive for concrete deliverable at end of session, such as well developed business plan • Provide significant time for one-on-one mentoring and training • Develop cross-functional instructor staff • Invite local guest speakers to shed light on practical aspects of entrepreneurship

  23. Case Study - BMOA Wheels of Dreams

  24. Youth Entrepreneurship Curriculum Criteria for BMOA • Self-paced • Interactive, animations, simulations • Pre and post assessments, quizzes • Experience-based • CD-ROM or Web-based • Audio, “closed captioning” • Network capable, Server edition • Hispanic version

  25. Youth Entrepreneurship Programming Content • Difference between an Entrepreneur and a Employee • Identifying opportunities, business ideas • Exploring interests, hobbies, aptitudes • Traits of successful entrepreneurs • Developing a business plan • Developing a marketing plan • Understanding funding options (e.g. Start-up capital, financing options) • Understanding Sales vs. Profit

  26. Curriculum and Resources for Youth Entrepreneurship Programs • EDTEC publishes the New Youth Entrepreneur, a comprehensive youth entrepreneurship curriculum. • The National Foundation for Teaching Entrepreneurship (NFTE) offers the BizTech™ Online Entrepreneurship Program.

  27. Curriculum and Resources for Youth Entrepreneurship Programs • REAL Enterprises fosters entrepreneurship education and training curricula for youth and adults in schools, post-secondary institutions, and community-based organizations. • Youth Tech Entrepreneurs (YTE) develops student leaders who use their academic, information technology and business skills to build stronger communities.

  28. Curriculum and Resources for Youth Entrepreneurship Programs • Start Something is a program designed to help young people ages 8 to 17 identify and achieve their dreams and goals. It shows youth how to take positive actions that will bring them closer to their goals, and help build qualities like initiative, leadership and community stewardship.

  29. Related Websites • New Youth Entrepreneur (NYE) Interactive http://www.edtecinc.com/edu_prods.htm • National Foundation for Teaching Entrepreneurship (NFTE) Biztech http://www.nfte.com/biztech/ • Real Enterprises http://www.realenterprises.org/ • Youth Tech Entrepreneurs (YTE) http://www.yte.org/aboutus/index.html • Students in Free Enterprise (SIFE) http://www.sife.org/united_states/index.asp?ID=US • JA Titan http://titan.ja.org/ • Start Something http://startsomething.target.com/info/index.asp • Youth Entrepreneurship http://www.camdenyouth.net/index.cfm

  30. Q&A

  31. Thank You Paula Billups Educare Technologies www.educare-tech.com pbillups@educare-tech.com Kevin Chien AC4 www.ac4.org Chien_kevin@gsb.stanford.edu

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