SESSION 1: INTRODUCTION TO BUSINESS PLANS & MARKETING/SALES
Tuesday, January 19, 2010
6:00pm to 9:00pm, Room: 6-120

Part 1: Introduction to the Business Plan.
What is it, why do I need it and what is it used for? Practical do's and don'ts in preparing a Business Plan. Things to keep in mind in writing a Business Plan which will improve your chances of obtaining funding and running a successful business.

Introduction to Virtual Ink. During this course we will be using the Virtual Ink Business Plan as a working example. Yonald Chery, a co-founder of Virtual Ink will introduce the Virtual Ink idea and plan.

Reading: In preparation for the class skim through the Virtual Ink Business Plan. Focus on the Executive Summary and the Table of Contents. This is a real plan submitted in the MIT $50K Competition which resulted in a real business which received substantial funding. We will reference this plan throughout the course.

Speakers:
Yonald Chery, Co- Founder of Virtual Ink
Read his bio here.

Presentation Slides:
Will be posted here on the evening of the Presentation

Joe Hadzima
View His Presentation Slides: Business Plan Basics

Part 2: Market Identification and Sales
Many entrepreneurs, especially technology based entrepreneurs, are accused of being too in love with their technology or concept. They rationalize that if they develop a better mousetrap then the product will sell itself. However, a good technology or product idea is a necessary but not a sufficient condition to establishing and growing a successful business venture. Who will buy the product? How will you reach buyers? How much will they pay?

If you have an idea for a product or service how do you determine whether there is a market for it? How do you develop a marketing strategy? How do you turn your idea and market research into sales? What do you need to do to convince potential investors that there is a market and that your idea is viable? If you don't have a specific product or service idea but you see a potential need, how do you turn the need into a product or service?

This session will discuss these issues and provide guidance on how to approach the marketing section of your business plan.

Reading: Moore, Geoffrey A., Crossing the Chasm, Marketing and Selling High-Tech Products to Mainstream Customers, HarperBusiness 1991, Chapters 1 and 2. Focus on the descriptions of markets in Chapter 2. Review the market and technology sections of the Virtual Ink Plan.

Speakers
Bob Jones
Serial Healthcare Industry Entrepreneur
View His Presentation Slides: "Finding Your Customer"
Read his bio here.
Bob Jones at his Other Job - www.backbeatblues.com