Where Business and Engineering Collide Entrepreneurship Resources Created by Megan Sapp Nelson, Asst. Professor of Library Science, Purdue University Libraries, All rights reserved.

Objectives Identify information gathering steps to create a business plan Identify resources that will supply needed information Discuss how different types of information combine to create a business plan Identify Purdue University resources relevant to entrepreneurs

What information is needed to create a business plan? Idea –Prototype; Samples; Other Assets Location –Foot or web traffic; Tax breaks; Fixed expenses; zoning laws Market –Demographics of area; typical customer; Population of area; Need for service; Desire for service or product Competition –What is your competition, nearby and online? What strengths does your business have? What opportunities? What weaknesses? What threats?

Still more useful information Legal background – Protect your business by finding out what codes and legislation your business falls under. Government assistance – Does you business qualify for federal assistance or contracts? Financial information – How do you find investors and “angels”? Ethical considerations – Will the community accept your business? Are there additional steps you must take to act ethically (buy liquor license, receive training in CPR) etc?

Entrepreneurship 101 So you’ve got an idea…. An entrepreneur is someone who comes up with an idea, and starts a business based on that idea. How do you begin the process of starting a business?

The idea Have the product designed –Use articles (databases available here) to build technical backgroundhere Design product or service –Create a design drawing of the product –Create a flow chart for service Create a parts or components list (including price) –Use CatalogXpress to check parts catalogs from manufacturers around the country CatalogXpress

The idea Is the idea patented by someone else already? – or come to the Engineering Library where the librarians can help you run a subject searchhttp:// Have you proven your concept? –Have a prototype built (for product) –Locate machine job shops using Thomas Register of American Manufacturers on CD-Rom at Management Library or Engineering Library

The Location Where should you locate? –City government – zoning laws and tax assistance –Statistical Abstract of the United StatesStatistical Abstract of the United States –Census BureauCensus Bureau –Local Chambers of Commerce - Real estate costs; Tax information; Zoning lawsLocal Chambers of Commerce –Economic Development CorporationsEconomic Development Corporations

Your Market Who is your target market? –Demographics of area from Census Bureau’s American Fact FinderCensus Bureau –Interviews with potential customers –Interviews with owners of competing businesses – who is their typical customer –Market Research AcademicMarket Research Academic –Local Economic Development CorporationsEconomic Development Corporations –State business statistics – Indiana Business Research CenterIndiana Business Research Center –State demographics - STATS IndianaSTATS Indiana

Your Competition Is this an industry or area that is growing in your loation? Nationally? Internationally? How much competition is there? –The phone book –The local Chamber of commerceChamber of commerce –Bureau of Labor StatisticsBureau of Labor Statistics –Business & Industry databaseBusiness & Industry database –US Global Trade Outlook (MEL Gov Docs C61. 34/3) –Trade associations for your industryTrade associations –Newspaper, Trade Magazine and Journal Articles –Bizstats.comBizstats.com

Legal Details State codes and regulations – biz.in.gov biz.in.gov –Business Owner’s Guide to State GovernmentBusiness Owner’s Guide to State Government –An Entrepreneur’s Guide to Starting a Business in IndianaAn Entrepreneur’s Guide to Starting a Business in Indiana Federal Codes and Regulations –Federal Code of RegulationsFederal Code of Regulations –OSHAOSHA

Financial Information Government assistance –Small Business AdministrationSmall Business Administration –Federal Business OpportunitiesFederal Business Opportunities –Buy IndianaBuy Indiana Angel investors –Angel Capital AssociationAngel Capital Association –Van Osnabrugge, M and Robinson, R (2000). Angel investing : matching startup funds with startup companies : the guide for entrepreneurs, individual investors, and venture capitalists. San Francisco, Jossey-Bass. Venture capital –National Venture Capital AssociationNational Venture Capital Association –Gladstone, D (2002). Venture Capital Handbook. Englewood Cliffs, NJ: Prentice Hall.

Putting it all together – the Business Plan Finding samples: –Business Plans Handbook. (1995-) Detroit, MI: Gale Research, Inc. –Business Plan Templates Entrepreneur.com Morebusiness.com Small Business Administration NEBS Business Plan Template Bplans.com Agricultural Innovation and Commercialization CenterAgricultural Innovation and Commercialization Center

Purdue University Resources Purdue Extension Means Business – ess.htmhttp:// ess.htm Small Business Development Program – IPFW Small Business Development Center – Entrepreneurship Education and Resources at Purdue – Office of Technology Commercialization – New Ventures – Agriculture Innovation and Commericialization Center (includes automated business plan) –

Any Questions? Contact Megan at Visit the Engineering Library at abases/index.cfm Visit the Management and Economics Library at

Featured Resources The Idea –Articles and Databases - electcat.cfm electcat.cfm –Catalog Xpress –USPTO – –Thomas Register of Manufacturers – on CD Rom at Engineering Library and Management and Economics Library

Resources featured in this presentation The Location –Statistical Abstract of the United States - b/ b/ –Census Bureau – –Local Chambers of Commerce- Lafayette-West Lafayette Chamber of CommerceLafayette-West Lafayette Chamber of Commerce –Economic Development Corporations- Greater Lafayette Progress

Featured Resources Market –Census Bureau’s American Fact Finder- –Market Research Academic- –Economic Development Corporations –Indiana Business Research Center –Stats Indiana

Featured Resources Competition –Local phone books –Lafayette-West Lafayette Chamber of Commerce –Bureau of Labor Statistics –Business and Industry Database –US Global Trade Outlook - MEL Gov Docs C61. 34/3

Featured Resources Competition cont. –Trade Associations Directory /organizations/trade_associations/ /organizations/trade_associations/ –Article Databases –Bizstats.comBizstats.com

Featured Resources Legal resources –State resources Business Owner’s Guide to State Government – An Entrepreneur’s Guide to Starting a Business in Indiana – –Federal resources Federal Code of Regulations – Occupational Health and Safety Administration –

Featured Resources Financial Information –Small Business Administration –Federal Business Opportunities –Buy Indiana –Angel Capital Association –Van Osnabrugge, M and Robinson, R (2000). Angel investing : matching startup funds with startup companies : the guide for entrepreneurs, individual investors, and venture capitalists. San Francisco, Jossey-Bass.

Featured Resources Venture capital –National Venture Capital Association –Gladstone, D (2002). Venture Capital Handbook. Englewood Cliffs, NJ: Prentice Hall.

Featured Resources Business Plans –Business Plans Handbook. (1995-) Detroit, MI: Gale Research, Inc. –Business Plan Templates Entrepreneur.com Morebusiness.com Small Business Administration – n.htmlhttp:// n.html NEBS Business Plan Template – te/index.jsp?GXHC_JSESSIONIDhttp:// te/index.jsp?GXHC_JSESSIONID Bplans.com Agricultural Innovation and Commercialization Center –