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Creating a Company (ENTRE 472/473)

Creating a Company (ENTRE 472/473). John R. Castle, Sc.D. castlej@u.washington.edu 425-503-1079 Mackenzie 222. John R. Castle, Sc.D. Chemical Engineering, MIT Harvard Graduate School of Business Founder of 9 companies CEO/COO 14 companies Director/Advisory Board - 17 companies

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Creating a Company (ENTRE 472/473)

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  1. Creating a Company (ENTRE 472/473) John R. Castle, Sc.D. castlej@u.washington.edu 425-503-1079 Mackenzie 222 Creating a Company

  2. John R. Castle, Sc.D • Chemical Engineering, MIT • Harvard Graduate School of Business • Founder of 9 companies • CEO/COO 14 companies • Director/Advisory Board - 17 companies • Non-profit boards • MIT Enterprise Forum (www.mitwa.org) • Northwest Venture Group (www.nwen.org) • Encompass (www.encompassnw.org) Creating a Company

  3. Course Requirements • All or Nothing - 2 Quarters, One Grade • Time Required: 10 - 20 Hours/Week, so not a good “filler” course • Judged by Business Standards • Full Immersion Experience Creating a Company

  4. Varied and broad background Creating a Company

  5. Instruction is Minimal • Guidelines and basics from Instructor • Tips from guest speakers • Learn from each other • Test your own ideas in the market Creating a Company

  6. Business Environment • On time attendance • Active participation • Risk taking is rewarded more than success (see grading system) • Dress is business casual to build credibility • Ethical behavior and full disclosure Creating a Company

  7. Skills Required • Resourcefulness • Flexibility • Clear writing • Public speaking • Team spirit • Emotional Intelligence Creating a Company

  8. Business Ideas • Possible in 2 quarters • Exciting • Challenging • Fun • Fit with team’s skills Creating a Company

  9. Funding and Profits • Loans awarded by judges • Limited personal financial risk • Revolving Fund • Excess profits donated to Business School Creating a Company

  10. Grading Criteria • Concept and plan 1st qtr - 30% • Execution and result 2nd qtr- 70% • Profits - 30% • Response to change - 40% • Complexity - 15% • Performance to plan - 15% • Addl credits for peer reviews, leadership Creating a Company

  11. Assignment for Next Class • Form teams of 4-5 people • Elect company officers • Choose a business • Be prepared to report to the Board of Directors Creating a Company

  12. Introductions • Name • Major and Skills • Business experience • Importance to you • Business idea that you want others to join you in (if you have one) Creating a Company

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