A Mixed Bag

This week, we have quite a bit to accomplish.  Here’s a breakdown of what we have to do:

·      Submit final draft of business plan

·      Assess final draft of business plan

·      Begin operations for our organization

·      Make sales calls

·      Finalize product line

·      Establish Inventory

·      Create/distribute promotional materials

·      Launch company website

·      Fill out employment paperwork

·      Distribute payroll

Here’s a breakdown of our daily tasks/objectives/clear targets:

Monday

Objectives: Assemble business plan in proper order, Save file as PDF, Submit final draft of business plan and photo waivers

Clear Target: We can create a business plan

We’ll utilize the rubric and make sure our final draft contains all the necessary elements.  We’ll then assemble the final product in MS Publisher, just as Gotham has done so with our model.  Plan will be saved as PDF and submitted here:

Tuesday

Objectives: CEO and CFO to read final submission to class.  Entire class to provide quick feedback after each section

Clear Target: We can assess a business plan

The objectives pretty much nail it.  All we are going to do in class Tuesday is read through the plan and discuss it.  Our feedback should be based on the rubric we used to complete the plan.  For closure, we’ll score our business plan.  I doubt we’ll have time to finish our assessment, so for homework, you’ll finish scoring the plan yourselves.  I’ll average everyone’s scores and we’ll see how well we self-assess when we receive our feedback at the business plan competition.

Wednesday through Friday

Objectives: Make sales calls, finalize product line, establish inventory, create/distribute promotional materials, launch company website, fill out employment paperwork, distribute payroll

Clear Target: We can apply concepts to operate a startup business.

All tasks to be completed can be found in the Portal for your specific department.  Please continue to keep attendance records and get the business up and running as quickly as possible.  The sooner our website goes live, the faster we can actually close on some business. 

In addition to completing these tasks, we also have to register for the business plan competition and Trade Show.  Deadlines can be found below:

I will be available to assist as needed in a facilitator capacity.  Please understand that I’m your guide on the side, and technically can’t do any of the tasks for you.  Stay on your tasks and we’ll have a great week!

Analyze, Critique, Revise, Complete

This week is an important week for our firm.  We must take a look at what we’ve drafted, determine how well we’ve hit all elements of the rubric, make amends to our work, and complete the final draft for our business plan submission.  We’ve worked hard to create the most recent draft; however, without constructive criticism from our peers, our final submission won’t truly allow us to put our best foot forward.  That said, this week, we must first read through our plan, identify what has been well-written and what must be changed, figure out how to change it for the best, and put together the award-winning final draft we are capable of. 

There isn’t a video, magazine article, or image that I can embed in this entry capable of making our final draft a winner.  Only your hard work and determination can make that happen.  Here’s how we’re going to get it done this week:

Monday

Objectives: Read through business plan draft, analyze business plan rubric, assess mastery of each element of plan, devise plan of attack for business plan revision

Clear Target: We can analyze and critique a business plan

**Please refer to the Gotham Enterprises Business Plan for a solid model, along with any previously created business plans for additional assistance.  Also, my blog entries from January 2014 through March 2014 provide a detailed explanation of how I would approach writing each element of the business plan.  Finally, check your Google Drive for PowerPoint presentations that contain additional links and videos to resources that will help you write each element. 

**Remember, all elements of the business plan are measured by this scoring rubric.  Please complete each section according to what is asked by this file.   

CEO and CFO to lead read-through of plan – Here’s what to do:

·      Arrange each department’s submission (without cover page or table of contents)

·      Read through each submission

·      Determine what elements of plan are missing – DON’T BE SURPRISED IF YOU MISSED SOMETHING. THIS IS WHY WE READ THROUGH THE PLAN J

·      Analyze how well each section of  the plan hits the TOP of the rubric

·      Create questionnaire to help achieve top of rubric for sub-standard elements

o   You should have about 10 questions with multiple choice answers

·      Distribute questionnaires to students prior to Tuesday’s class

If you have immediate feedback that can be a quick solution to anything, use Monday’s class period to discuss your ideas.  There WILL be elements that are lacking.  There WILL be elements missing.  This is why we use the entire week for revision.

Tuesday through Friday

Objectives: Analyze data collected from questionnaire, Revise business plan, Report finished drafts to CEO and Spinella

Clear Target: We can revise a business plan

In addition to completing the final draft of the business plan, departments whose revisions are finished early should concentrate on ensuring we close our contracts that are intended to cover 75% of our payroll, following up on receipt of seed money, and completing departmental tasks for our grand opening (deadline: 10/6).

Once our data is collected, we will use this information to complete our final draft of the plan.  When we have all elements finalized, we will organize it so that it is coherent and reads like the models we have in class.  I will work with you to make sure everything is in order, but understand that my obligation as your facilitator is merely to guide you.  It is against the rules for me to re-write or dictate anything for you.

As the week progresses, I may make additional blog entries to help you along the way as I see fit.  Please keep up with your emails daily.

Collaboration, Analysis, and Business Plan Creation

This week, we will put our minds together to ensure a clear vision for every element of Pick it Sweets & Treats.  On Monday, we will discuss what we are, how we look, what we sell, how much we'll make, and why we're different from the rest.  This will springboard us into our Tuesday-Friday tasks, when we will actually draft the business plan.  Here's a breakdown of Monday's discussion topics, followed by departmental assignments Tuesday through Friday:

Monday
Objectives: Discuss all elements of business, determine company goals, align ideas to create consistent vision throughout entire organization.
Clear Target: We can create a consistent vision for a virtual organization

CEO and CFO to lead discussion of the following topics:

• Goals for the year/business plan - see old business plan rubric with explanations for assistance
• Identify competition - both virtual and real (please do this before class Monday)
• Determine brand identity - Please read Wikipedia explanation - our mission statement and goals will align with our identity
• Discuss product line, estimated profit margin, and price structure of business
• Approximate sales revenue from contracts, Trade Fair, and normal operations
• Determine why we'll sell our products - Why will people use their discretionary income on our products? Is there enough discretionary income to be spent on our products?
• Differentiate ourselves from competition - Why are we better than the competition?

**Admin department to keep minutes and take notes on discussion.  Notes to be reported to all employees and Spinella

Tuesday - Friday
Objectives: Analyze previous business plans, draft entire business plan, report finished drafts to CEO and Spinella
Clear Target: We can create a business plan
**Please refer to the Gotham Enterprises Business Plan for a solid model, along with any previously created business plans for additional assistance.  Also, my blog entries from January 2014 through March 2014 provide a detailed explanation of how I would approach writing each element of the business plan.  Finally, check your Google Drive for PowerPoint presentations that contain additional links and videos to resources that will help you write each element. 
**Remember, all elements of the business plan are measured by this scoring rubric.  Please complete each section according to what is asked by this file.   

Here's a breakdown of each business plan element and the assignment for each:


Cover Page & Design/Layout
Web Design/IT is responsible for cover page and design/layout of plan.  The Gotham plan has a great layout and we should find something that pops just like it.

Executive Summary
CEO is responsible for completing the Executive Summary once all other elements have been turned in.  Executive Summary is often the only part of a business plan that potential investors read, so you must ensure all pertinent information is presented in an interesting, yet not overstated, manner.  Make sure our vision jumps off the page.

Company Description and Mission Statement
HR and Admin have been working on this and will amend as needed

Management Function
HR and Admin are responsible for all elements of the Management function

Assessment of the Environment
Executive Team will complete this element of the plan

The Marketing Mix: The FIVE Ps
Sales/Marketing is responsible for completing this section of the plan

Breakeven Analysis and Financial Data
Accounting/Finance will complete this section of the plan

SWOT Analysis & Business Assumptions/Risks
This section is to be completed by Admin & HR. 

As always, I'm available in class or via email if you are working on things on your own outside of class.  Keep your focus.  You're going to make a great business plan!

From the Ground Up

This week, we are going to work on two things at once: creating the business plan and registering our business with the VE Network.  We will begin to break up our work by department so that we can maximize efficiency in completing our weekly tasks.  Moving forward (at least until next semester), tasks will often be assigned by department, not by day.  This means you won’t see a daily list of objectives and clear target.  Rather, you will see a breakdown of objectives for each department with either a common or department-specific clear target.  Further, there will be much fewer PowerPoint presentations or lecture from me.  Beginning Monday, my role as facilitator will be to act as your guide on the side.

So how will we split up into departments, you ask?  Easy.  By the time you arrive in class Monday, you will have received a formal offer for your job.  You will have 24 hours to respond with an acceptance.  Once all have accepted, Human Resources will begin working on an organizational chart in either PowerPoint or Publisher, as suggested by this form. 

Our clear target for the week is simple:

We can apply business concepts to launch a virtual startup business.

I used the photo below, along with the Business Plan Scoring Rubric to compile your list. The tasks for the week can be found below.  Don’t be intimidated by this list.  You can all get it done:

All

·      Log onto the portal using the information provided in my email to you from 8/31

·      Reach out to business partners (see spreadsheets created by Cody Ruth) to close on a contract worth 75% of your salaries – to be done after school hours

o   I will touch upon how to approach these business partners in class on Tuesday.

Executives: CEO and CFO

·      Complete business registration form online

o   Basic things can be completed quickly

o   Particulars will take a couple or three days

§  Which type of corporation? Why?

§  Budget

·      Payroll

·      Rent

·      Utilities  - based on schedule I’ll find for you

·      Advertising/promotion

·      Inventory

·      Equipment

·      Supplies

§  How much seed money required based on the budget?

§  Substantiate why you need this exact amount

***Please consult with Accounting/Finance Department to complete the financial information.  You will all need to research accurate figures to operate your business properly.  Your research results will either help or hurt us in receiving seed money.

Accounting/Finance

·      Assist executives in completing business registration form

·      Determine salaries for all employees at each level

o   Check O-net or Jobs4tn

o   Use the low end for salaries since we only have 14 employees

Sales/Marketing

·      Create product line – list EVERY product you intend to sell

o   If you intend to do parties, include 2-3 packages

o   Base this on your audience – how much will they buy and what are they willing to pay?

·      Work on the 5 P’s

o   Product

o   Price

o   Place

o   Promotion

o   Positioning

Use the Scoring Rubric to complete the marketing mix 5 P’s.  We will utilize this rubric when writing anything for the business plan.  Please also utilize the old scoring rubric, which has been shared with you on Google Drive, for further explanations of each component of the plan.

Admin and Human Resources

·      Establish company goals and 4 options for mission statement – to be voted on by the firm at end of class Wednesday

·      Create company directory spreadsheet

·      Establish office equipment needed to start up

Use the Scoring Rubric to complete mission statement.  We will utilize this rubric when writing anything for the business plan.  Please also utilize the old scoring rubric, which has been shared with you on Google Drive, for further explanations of each component of the plan.

IT/Web Design

·      Company vision: how does each of the following look?

o   The business

o   The employees

o   The products

o   The customers

·      Begin making website

Begin by working on the company website design.  Once marketing has completed its product line (may not be until Wednesday) you can begin to add products to the site.  Remember, our products require a buy-now button when customers buy from us, and Mal’s is by far the easiest free one to use.

I know it looks like a lot of work.  It is.  Starting up a business is a daunting task.  It requires you to work in class and out of class in order to succeed.  But don’t worry, guys.  You’re the best students in your class and are very capable of doing all this work really well. 

So Much to Do and So Little Time

This week is really going to test our ability to work efficiently.  With no school on Monday and a shortened class Friday, we will really have to make the most of every minute.  Here’s a quick look at what we have to do:

·      Complete interviews

·      Create database of actual businesses we can contact for partnerships – we need to find a real-world business with whom we’ll have a year-long partnership (more about this in class)

·      Determine business we will run and business model

·      Secure real-world business to partner with us for the year

In order to do all this, you’ll likely have to complete some of these tasks outside of class.  These tasks can easily get done if we work together and delegate assignments to the right people.  I’m confident this will get done, especially since we won’t have to worry about running concessions on Friday afternoon.  Here’s our daily breakdown of tasks:

Monday – LABOR DAY – NO SCHOOL

Tueaday & Wednesday

Objectives: Analyze and Critique interviews, Provide feedback on interviews
Clear Target: We can analyze and critique a job interview

This is relatively straightforward.  You will need to complete a critique sheet for each interview and explain whether or not you’d hire each applicant.  Superficial explanations such as “he didn’t answer the questions really well,” or “he seemed quite prepared,” are not sufficient. 

Thursday

Objectives: Create company database, Brainstorm economic wants/needs of a target demographic, Discuss ways to satisfy economic wants/needs of a target demographic, Create business model for a virtual organization

Clear Target: We can create a business model

First, we need to create our company directory, which should include columns for name, title, location in the office, email, department, etc.).  If we pass around a sheet of paper and each employee includes as much information as he/she can (I know you won’t have your position yet, so just leave that out for now), one person can enter the information into either a Google Doc, Excel spreadsheet, or Access Table, which can be loaded to Google Drive and shared with the company.  This can be done while our business discussion takes place.

If you’re wondering why we need to have another discussion about which business to operate, I’ll take this opportunity to tell you.  After bouncing our original “Grade Check” idea off our VE Coordinator, I was met with some pushback.  That said, we must go back to the drawing board for a new idea.  I’m confident this group will find a new business model that will ultimately send us to NYC for the National Competition.  I’m not just typing this to pump you guys up.  I’m putting this in writing because I believe this group will do something special in the next couple years.   Remember this blog entry.

Friday

Objectives: Utilize contacts made this summer to create a list of businesses to contact for a year-long partnership, Assign representatives within the company to contact each business, Create script for correspondence with each business

Clear Target: We can apply networking skills to enhance our educational experience

I won’t be in class Friday, but I’ll notify the sub that you will be conducting a staff meeting.  Our CEO will need to oversee the meeting and ensure we remain on task.   We will also need someone to keep minutes (take notes on each idea, who said it, and when it was said). Given that we have little time, I’ll frame the goals of the meeting for you:

1.     Compile list of contacts we made from our CYP visit this summer – I’ll email these to the CEO on Monday and the CEO will assign someone to create a spreadsheet with specific information for each

2.     Determine which contacts would be most helpful and those that would be most willing to help us – this means we’ll have TWO lists

3.     Formulate a script for contacting aforementioned contacts (you might want a different script for different contacts)

4.     Assign representatives to reach out to each contact

5.     PLEASE DO NOT CONTACT ANYONE UNTIL WE MEET AGAIN ON MONDAY, 9/8

It is imperative that you are on your best behavior for the sub and remain on task.  Please allow the CEO to run a smooth meeting by respecting one another, speaking only when you have the floor, not carrying on any side conversations, and taking notes on all our ideas.  It’s one thing to say a lot of good things during a meeting, but it’s a completely different thing to actually log all our ideas and create a plan to implement them. 

That’s it for the short week.  While there are no videos and only 1 link to an external form, there still is a lot of work that needs to get done.  I’m confident we’ll make it happen.

Interview Week

This week, we will learn interview fundamentals and begin interviewing for our positions within our organization.  In order to complete as much as we need to get done, you will need to do some things outside the classroom. 

That said, let's take a look at what needs to be done before Tuesday's class:

First, you'll need to watch the following video about dominating an interview:

While I don't completely agree with everything in this video (the man's attire and decision to sit before shaking hands are a couple things that stood out early in the video), this resource contains a lot of valuable tips and hints for getting it done on the big interview day.  Check out the video and make a note of at least 10 things you can do in your interview next week.  Have this with you to start class Monday.

After finishing your video, review the following file that breaks down the most important information to know for your interview, including common questions and answers.  It's a good starting point for our lesson.

https://career.berkeley.edu/Guide/Interviewing.pdf

A breakdown of this week's activities can be found below.

Monday
Objectives: Understand the goal of an interview, Identify proper strategies for a successful interview, Determine best practices for answering interview questions.
Clear Target: We can differentiate ourselves from competition in a job interview.
Bell-Ringer: Will not be divulged prior to class.  I want you to take 2 minutes at the beginning of class for this
After sharing out a few answers, I will explain how I would have answered the question.  From here, I'll review objectives and clear target (which will be the same throughout this week and into next).
Following our clear target, I'll cover the following interview topics:

• Proper Attire
• How to enter the room and shake hands
• Body Language
• What to bring with you
• Common questions, including my favorite questions to ask
• How to align your answers with each question AND what you have in your resume
• Questions to ask the interviewer
• Interview follow-up

Exit Slip: Describe 3 ways you will separate yourself in an interview.

Tuesday
Objectives: Analyze common and unique interview questions, Collaboratively formulate answers for interview questions, Present findings 
Clear Target: We can differentiate ourselves from competition in a job interview
Bell-Ringer: 2 minutes - Organize yourselves in separate rows for different job positions
In your groups, use this file to list and answer 3 Qualification Questions and at least 1 Behavioral Question for each of the following sections:

• Interpersonal Skills
• Communication Skills
• Initiative
• Leadership
• Planning & Organizing 
• Flexibility
• Creativity/Innovation
• Decision Making

You'll have 30 minutes to complete this task (not a lot of time), and we'll share out answers at the end of class.  On Wednesday, we will begin our interviews with students who are aspiring for executive positions (CEO and CFO).  The remaining interviews will be drawn randomly during class.  I estimate the entire interview process to take approximately 5 class periods (Wednesday-Friday this week and Tuesday-Wednesday next week).

Wednesday thru Friday
Objectives: Analyze and Critique interviews, Provide feedback on interviews
Clear Target: We can analyze and critique a job interview
Please dress as professionally as possible for interviews.  I understand you won't know when you will be interviewing, but it won't hurt for you to dress as professionally as you can for a week.  Who knows?  You might enjoy it.

We'll use my interview critique sheets to frame our analysis.  I've shared the file with you from my Google Drive.  While observing your classmates' interviews, please have at least 2 things you liked, 2 things you'd do differently, and an explanation (not just a yes or no) as to whether you'd hire the individual. 

That's it for the week's tasks.  I hope you have a good time with this real-world lesson.  It's one of many you'll enjoy this year!




 

CHOP!

Welcome back!  I hope everyone has had an enjoyable summer and first week of school.  Now that we've taken time to establish and understand rules and procedures, brainstorm a little about what we want our program to be and how we want to be remembered, learn up on different aspects of business, and improve upon an established business model that will fund our program, it's now time to get the ball rolling for the year for this business.  I'm ecstatic to have a class full of hand-picked, hard-working students this year, and I'm confident we will succeed if we work together and CHOP!

What's CHOP?  Think about how to most efficiently take down a giant tree with nothing more than an axe.  Take a look at this short video about something I learned from the football program at my Alma Mater, Rutgers University.

Understand that if this group focuses all its effort toward a common goal and relentlessly pursues each task needed to accomplish it, this program will succeed.  That said, let's look at our weekly tasks.

Monday: VEI Pre-Test & Review Answers
Objectives: Complete VE Pre-Test, Grade VE Pre-Test
Clear Target: We can create a baseline on which the foundation of growth is measured.

Monday's class will begin with a pre-test that all Virtual Enterprise students are required to take.  The pre-test consists of 50 multiple choice questions, and should take approximately 25-30 minutes to complete.  Once everyone is finished, we will review answers and grade our own papers. I will submit the class average to the Tn Coordinator.

Please do not worry about your score on this test.  This is merely a baseline by which your growth will be measured this year, which means your grade on this test at the end of April is the one that will matter most.  Once you complete your tasks throughout the year, you will have a full understanding of the principles covered in the test.  It's ok if some of the material is not familiar at this time.

Graded pre-tests will be turned in to exit bin at the end of class.  If we have additional time, we will discuss what a resume should look like

Tuesday: Job Postings and Resume Intro
Objectives: Understand positions within the organization, Match personal strengths to a position within the organization, Analyze previously created resumes 
Clear Target: We can analyze and critique a job resume

Today we'll look at a brief PowerPoint about the open positions within our organization.  We touched upon this a bit on Friday, so I plan to get through this quickly so that we can take a look at some resumes that had been created in years past.  Your goal in class will be to determine an aesthetically pleasing template for your resume (can be found online or in MS Word), align your strengths to the KSAs of the position you desire, and think about what you want to convey with your resume. 

As an exit slip, you'll submit a plan of action for your resume and desired position within the company.

Wednesday: Guest Speaker - Professional Resume Writer Debra Ann Matthews
Objectives: Absorb as much knowledge from an industry professional as possible
Clear Target: We can apply writing concepts to create an effective resume

You'll need your paperwork you finished up on 8/14 (Generic Job Application and Questionnaire) to contribute to today's class.  Professional resume writer Debra Ann Matthews will be in class to share some wisdom with you.  Be on your best behavior and contribute to the discussion.  This will be an excellent day.

Thursday: Resume Prep
Objectives: Collaborate with other bright individuals about what to include on resume, Choose template for resume, Write resume
Clear Target: We can create a resume that effectively matches our strengths with a specific job opening

We'll begin class with a brief review/reflection on Debra's presentation and proceed to a structured discussion of what to include in a resume.  From here, you have independent class time to work on your resume, save it to the school server (and a cloud), and have little to no homework for VE.  Should you fail to complete your resume, you must complete it and submit it to me in class on Friday.

Friday: Resume Submission and Concession Stand Business Model Analysis
Objectives: Submit resume, Analyze concession stand business model, prepare for opening day of concession stand (set revenue, marketing, and logistics goals)
Clear Target: We can analyze and critique an established business model

You will have the first 4 minutes of class to electronically submit your resume to my Drop Box_Faculty folder on the server.  After this, we will have our concession stand preparation.  Your participation and productive contribution to this discussion will determine your grade for this task.  I'm leaving this in your hands and trust that it will go smoothly.

I hope you made it through this entire blog entry.  This is how I do my lesson plans for this class, so it is of the utmost importance that you read and adhere to the schedule.  CHOP!