Small Business Administration ADMN3306

1. Small Business AdministrationADMN3306 Professor: Bob Carpenter

2. Today’s Agenda • Introductions • Course Outline • Expectations • Entrepreneurs • Small Business

3. For your information … • My Name: • Bob Carpenter • Education: • Masters in Business Administration with focus on Organizational Behaviour and Marketing • Bachelor of Science in Mechanical Engineering from the UK

4. Finding me in the University… • Email: bobc@nipissingu.ca • Website: http://www.nipissingu.ca/faculty/bobc/bchome • Office: phone: 474-3461 ext. 4157 • Office location: A232D • Office hours: • Tuesdays an hour prior to class • or by appointment

5. My expectations of you: • Participate fully in class • Complete readings and assignments. • Arrive on time. • Be alert and ready to work. • Enter into discussions and group work enthusiastically • Show respect to others in the class by discussing issues objectively and listening to other points of view. • Be business-like

6. For my Information … • Write down your answers to the following: • My employment experience includes … • I think owning my own business would suit me because … • What I really enjoy doing is … • My study focus has been …

7. Course outline and materials: • Course information can be found at http://www.nipissingu.ca/faculty/bobc/bchome/3306_outline.htm • Course schedule and basis for evaluation are in separate sections but are repeated on the following sheets.

8. Basis for Evaluation

9. Entrepreneurs and Founding Members • Scores are different for those that elect to be an entrepreneur and founder members of their “company”. • Entrepreneurs have more control over the outcome of their work and may expect to score high if the major project is well done. • The founder member’s marks are distributed more widely making their overall mark less dependant on the major project.

10. Assignment #1: Young Entrepreneurs as Inspiration You will research and present to your classmates the story of an inspirational young entrepreneur. • The original idea and how it may have evolved. • The founder’s circumstances at start up (i.e. in school, just graduated and couldn’t find a job, any creative bootstrapping examples) • Any unique/funny parts of the business story (i.e. original idea turned out to be crazy, venture capitalist presentations that flopped terribly, business was resurrected from bankruptcy twice, etc) • Where the business is now and where it is headed. • Why you see it as inspirational.

11. Assignment #2: Business Idea Generation • Generate at least 5 business ideas – • Products or services • The sky’s the limit • Special approval needed for franchise.

12. Assignment #3: Summer Company • Complete an application for a business idea for the program. • Use the Summer Company feasibility plan guideline. • Copies of application forms are available online.

13. Assignment #4: Business Plan. • Should be a group project • This is a sizeable undertaking • Needs effort over the long haul.

14. Schedule … first half

15. Schedule … second half

16. Questions ….. • Entrepreneurs vs. founding members. • Think of the course as a small company with a number of business units.

17. Moving on • Some information about my background …

18. Business background • General management, • Program management, • Contract management, • Operations management • Procurement management, and • Sales and marketing management. • Small company start-up and turn around all in high-tech products.

19. Radar Systems

20. Senior Contract Administrator and Contract Manager • Contract management • Contract law • International sales • Government business • International partnerships and projects • Negotiation • Program management • Account development • Interpersonal skills

21. Communication cables in copper & fiber

22. Director of Sales and Vice President , General Manager • Plant closure • Plant opening • Business to business marketing • Product development

23. Remote control &electro-optical systems

24. Director of SubContracts, ISS and Director of Programs • Procurement management • Program management • Account development

25. Laser imaging & templating …VP & General Manager of Industrial Imaging business unit

26. SRE Controls Operations management

27. LaserMet Systems Inc. Founder based on IP from partner in Massachusetts

28. LaserMet Systems Wanted to raise $4M in 2002/3 … proved tough to do on a part time basis!

29. And finally … my role as a professor … • I see myself as: • facilitator, • guide, • resource, • presenter, • coach, and • learner. • …

30. For your information … • In groups of 3 or 4 discuss agree a list of questions and/or expectations that you would like to ask of me or have of me. • I will answer all questions that I reasonably can. • Take a few minutes and then we’ll go round the groups one question at a time.

31. I’m in the hot seat …

32. Small Business Administration

33. What is an Entrepreneur? • What characteristics do entrepreneurs generally have? • Do you have to be an entrepreneur to work in small business? • How do know if entrepreneurship is for you?

34. What is an Entrepreneur? One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.

35. Source: Dun & Bradstreet 19th Annual Small Business Survey, 2000.

36. Characteristics of Entrepreneurs • Desire to take initiative • Preference for moderate risk • Confidence in their ability to succeed • Self-reliance • Perseverance • Desire for immediate feedback

37. Characteristics of Entrepreneurs • High level of energy • Competitiveness • Future orientation • Serial entrepreneurs • Skilled at organizing • Value achievement over money

38. Entrepreneurship • One characteristic of entrepreneurs stands out: Diversity! • Anyone – regardless of age, race, gender, color, national origin, or any other characteristic – can become an entrepreneur.

39. Benefits of Small Business Ownership The opportunity to: • Create your own destiny • Make a difference • Reach your full potential • Reap impressive profits • Contribute to society and to be recognized for your efforts • Do what you enjoy and to have fun at it

40. Source: Dun & Bradstreet 21st Annual Small Business Survey, 2002.

41. Source: National Federation of Independent Businesses and Wells Fargo Bank, 2002.

43. Small Businesses... • Make up 98.5% of all the businesses in the U.S. • Employ 52% of the nation’s private sector workforce. • Pay 45 % of total private payroll. • Create more jobs than big businesses. • Are leaders in offering training and advancement opportunities to workers.

44. Small Businesses... • Produce 51% of the US’s private GDP. • Account for 47% of business sales. • Create 4X more innovations per R & D dollar spent than medium-sized firms and 24X as many as large companies. • Create two-thirds of all new inventions. • Produce 13X to 14X more patents per employees than large companies.

45. Assignment • Study chapters 1 and 2 • Write a description of the sort of business you would like to have created. • Research the entrpreneur that you will present for inspiration. (Assignment #1)