The Course Reader is available to registered students on the MIT Steller website for the class. The reader includes the actual full business plan for Virtual Ink, a MIT $50K entrant which went on to launch its Mimio product which captures whiteboard drawings electronically. This Business Plan will be used throughout the course to illustrate concepts. Course Materials listed below without links are included in the Course Reader.

Session 1: Introduction to the Business Plan

• Virtual Ink Executive Summary
• Virtual Ink Plan: Company and Product Sections
• Virtual Ink Plan: Market Section

Session 1: Marketing and Sales

• Moore, Geoffrey A., Crossing the Chasm, Marketing and Selling High-Tech Products to Mainstream Customers, HarperBusiness 1991, Chapters 1 and 2. (See Course Reader).

Session 2: Technology Strategy and Financial Projections

• Manufacturing and Operations Section of Virtual Ink Plan
• Von Hippel, Eric, Democratizing Innovation. Chapter 1 http://mit.edu/evhippel/www/democ.htm
• Financial Statement in Body of Virtual Ink Plan
• Detailed Financial Statements in Appendices of Virtual Ink Plan
• Tiffany, Paul and Peterson, Steven, Business Plans for Dummies, IDG Books Worldwide, Inc. 1997, Chapter 10 "Figuring Out Financials" and Chapter 11 "Forecasting and Budgeting" (See Course Reader).

Session 3: Business Models; Refining and Presenting Your Venture Idea
No assigned reading for this session.

Session 4: Financing and Financial Sources Panel

• "A Beginner's Guide to Venture Capital"  How is a Venture Capital Fund structured?  How are VCs compensated?  What does this mean for you?.
• Venture Capital Deal Terms  MIT Enterprise Forum presentation.
• "Thinking About Valuation"
• "Dilution - Here Is A Primer of Stock Vocabulary"
• "All Financing Sources Are Not Equal"
• "What Are the Terms? - Part 1: A Preferred Return"
• "What Are the Terms? - Part 2: Investors Need Some Control After Their Checks Are Cashed"
• "What Are the Terms? - Part 3: Run Don't Walk To The Exit"
• Excerpts from: Venture Support Systems Project: Report on Angel Investors, MIT Entrepreneurship Center, 2000.
  The full report is available at: http://entrepreneurship.mit.edu/Downloads/AngelReport.pdf

Session 5: Organizational Issues-Team Dynamics & Legal Matters.
Organizational Issues

• Timmons, Jeffrey A., New Venture Creation- Entrepreneurship for the 21st Century, Chapter 7 "The New Venture Team". (See Course Reader)

• Considerations for Founders: Issues in Structuring Relationships Among Members of the Founding Team
• "Steer Clear of the Tempest: A Start-Up Tragedy in Three Acts"
• "Ten Commandments Of How To Work Effectively With Lawyers"
• "Questions of Copyright: Another Weapon in Property Arsenal"
• "Of Kleenex and Cheez Whiz: Trademarks Are Nothing To Sneeze At"
• "The Importance of Patents: It Pays To Know Patent Regulations"

Presentation Materials.
Presentation materials from speakers will be available on-line on the Course Web Site http://entrepreneurship.mit.edu/15975 following each presentation.  The Web Site will also have other materials and references.  Please use 15975-ta@mit.edu for email.

Documents
Complete Virtual Ink Business Plan 8.1.97