Business Plan Seminar Virtual Enterprise Business Plan Competition Source Coordinator: Jacob Stuebbe

W.I.N. (What’s Important Now) Find one Business Plan Coach – Experience & Time Recruit students late winter & early spring – Search for a great mix (chemistry is key) Employees choose business – * crucial buy in – Revaluate year end – keep company name or not? Partner with businesses within Industry – Set up exchange visits (i.e. Best Buy trains Source) – Find WIN-WIN to Help Each Other (H.E.0.)

L.E.O. Love Each Other T.E.O. Trust Each Other H.E.O. Help Each Other R.E.O. Respect Each Other D.T.R.T. Do The Right Thing

Time Factor Willingness to commit – 0 Week & Summer Leadership meetings – 3 hour after school practices (1 time per week) Start Up business – First year takes most time – birth of an idea 3 Phases (Local, State, & National) – Phase 1 – *25 hours (23 written, 2 oral) – Phase 2 – *50 hours (35 written, 15 oral) – Phase 3 – *75 hours (25 written, 50 oral) *business plan hours mostly spent outside of class

Attention to Detail Stick to the rubric – Each section has to cover everything – Shoot for max score every time Watch written and oral business plan videos – Ask Nancy Phillips Every member on business plan team writes each part together. Ask partners to critique content and English teachers to critique grammar and structure

Critical Areas to Written Plan Find a sharp Chief Financial Officer (26%) – Problem solver who catches errors Real World research is crucial (24%) – Divide and conquer Keep perspective – View Plan as a whole – Graphics coordinate – Oral rubric just as important as written – Everyone in company has stake in plan

Oral Business Plan of Attack Pick one area (i.e. SWOT Analysis) – Students write it together and all memorize Presenters audition in front of practice judges Select team - Each member writes own speech – Business coach refines speeches with each member Practice Presentations – Regional practice run with judges before State – Video tape and watch – Select groups to practice presentation

Critical Areas of Oral Plan Explanation of Finances (21%) – Have to understand and communicate the Big 3 Question and Answers (25%) – All members need to be experts in certain areas and know a little bit of everything – H.E.O. & T.E.O. (teamwork – never leave someone stranded)

Final Thoughts It’s about relationships Have fun with it! Let the kids take sit in the driver seat Give it all you’ve got! It’s good enough!

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