Tag Archive:entrepreneurs

ByCarolyn Keane

MIT’s Take on Entrepreneurship

ENTREPRENEURSHIP IS A CRAFT.
HONE IT.

Entrepreneurship and innovation are synonymous with MIT. Big thinkers from around the world come to MIT Sloan Executive Education to take advantage of our renowned faculty, research, and resources that can help turn their ideas into successful ventures or social impact.

We teamed up with Professor Bill Aulet of the Martin Trust Center for MIT Entrepreneurship to assemble a collection of resources to help you get your venture off the ground. The Entrepreneurship Toolkit includes links to articles, a webinar, a 15% discount code, and other sources of business-building wisdom.

We hope these resources help ignite your entrepreneurial spark and guide your next steps. Click below and get the Took Kit

why-mit-sloan-executive-education

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ByCarolyn Keane

2018 BEST COLLEGES FOR ENTREPRENEURS

 

Paul Bradbury | Getty Images
Nobody instinctively knows how to build a company. They either throw themselves into the role as a first-time leader, or they begin inside a classroom at the growing number of colleges and universities now catering to entrepreneurs’ needs.

Inside these institutions, future founders and CEOs are taught the skills and — perhaps just as important –meet the people that empower them to turn smart ideas into real companies.

Each year, Entrepreneur partners with The Princeton Review to rank the top 25 undergraduate and top 25 graduate programs for entrepreneurs. The annual survey looks at more than 300 colleges and universities (including one in Mexico) and weighs each institution’s commitment to surrounding its students with world-class mentors, professors, and alumni, as well as an environment for budding entrepreneurs to thrive. (To read more about our methodology, pick up our Dec. 2017 issue of Entrepreneur.)

Related: Are Entrepreneurs Born or Made?

Click on the slideshow to see who made the list for the top 25 undergraduate programs for entrepreneurship.

https://www.entrepreneur.com/topcolleges?utm_source=newsletter&utm_medium=email#

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ByCarolyn Keane

How to Write a Business Plan

How to Write a Business Plan

Now that you understand why you need a business plan and you’ve spent some time doing your homework gathering the information you need to create one, it’s time to roll up your sleeves and get everything down on paper. The following pages will describe in detail the seven essential sections of a business plan: what you should include, what you shouldn’t include, how to work the numbers and additional resources you can turn to for help. With that in mind, jump right in.

Executive Summary

Within the overall outline of the business plan, the executive summary will follow the title page. The summary should tell the reader what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you’re asking for in the summary.

Related: How to Start a Business With (Almost) No Money

Business Description

The business description usually begins with a short description of the industry. When describing the industry, discuss the present outlook as well as future possibilities. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.

Market Strategies

Market strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.

Competitive Analysis

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

Design & Development Plan

The purpose of the design and development plan section is to provide investors with a description of the product’s design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.

Operations & Management Plan

The operations and management plan is designed to describe just how the business functions on a continuing basis. The operations plan will highlight the logistics of the organization such as the various responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.

Financial Factors

Financial data is always at the back of the business plan, but that doesn’t mean it’s any less important than up-front material such as the business concept and the management team.

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