3. The Business Plan; B) why is a business plan needed?
Lesson Outline
discussed all of the various uses of a business plan: tool to guide the overall direction and day-to-day operations of the company; raise capital; etc.
Assignment
read assigned material
Session Minutes
120
Minutes Student Attended
120
Lesson Comments
very engaging discussion. the instructor is a huge believer of the business plan and its many uses.
2. Building a Business; B) how to pick an industry
Lesson Outline
reviewed the various attributes of a market that an entrepreneur considers when selecting an industry for their business
Assignment
read assigned material
Session Minutes
90
Minutes Student Attended
90
Lesson Comments
although JMU believes her business will be in the equine industry, i felt it was a useful conversation for her to know the broader selection considerations: knowledge, passion, differentiation, size, growth, competition, margins, geography, etc
2. Building a business - A) types of business structures.
Lesson Outline
discuss the various forms of a business: profit vs non-profit; govt vs education vs business; legal structures of a business: partnership, corporation, proprietorship; LLP; LLC
Assignment
read assigned material
Session Minutes
120
Minutes Student Attended
120
Lesson Comments
discussed reasons for the differences.
focused on LLC as the likely structure for JMU's business.
first student choice was Buck Brannaman. Buck was the actual person that the movie horse whisperer was based on. we watched a documentary on Buck's life and his approach to training horses.
Session Minutes
135
Minutes Student Attended
135
Lesson Comments
discussed how Buck's childhood 100% influenced his way of training horses. discussed how he took that very unique skill set and combined it with skills that he had to develop to create his very unique business. we also discussed the sacrifices he and his family makes today.
