• Gain direct learning from engaging with real world entrepreneurs • Gather insights from individual examples of entrepreneurship
• Develop teamwork and project management skills
Undertaking an Entrepreneur Learning Project
This project is a descriptive type of case study, which documents the start-up conditions and experiences of an entrepreneur. Case studies provide an essential opportunity for connecting directly with the world of entrepreneurship.
Deliverable Options
You should research and present another entrepreneur's new venture experience.
- Select an entrepreneur willing to discuss various aspects of their new venture experience to construct a case study.
- Find background information on the company, industry, competitors, and overall business environment.
- Design and conduct an interview to draw as much useful information for future entrepreneurs as possible
BUSI 2800 Entrepreneurship (c) Tom Duxbury
Your case study should include the following sections: 1) Introduction,
2) Background of the entrepreneur,
3) Industry environment upon starting,
4) Early successes and challenges encountered, 5) Key learnings/advice for entrepreneurs,
6) Outlook for the future and conclusions.
Your written report should be maximum 10 pages of double-spaced, 12-point font text. Be sure to use proper APA style referencing in your report - any text that is not your own should be clearly identified and properly referenced. Including direct quotations from your entrepreneur is an effective way to validate your points and make your study an interesting read. The report should be uploaded to CuLearn by the due date.
All material must be submitted online by the due date on the course outline.
Grading
Grading is based upon content quality, added value to learning, and overall presentation style. Evidence of in-depth research on your part should be there. Your case study should be an interesting and factual read/watch, and primarily illustrate to others what was learned in the process of starting a new business.
Steps
- Select an entrepreneur to base your case study upon. Use your imagination and your team's network of resources to find candidates. Entrepreneurs by definition must have founded and personally invested resources in a new venture. They must also be engaged in running the income- generating business now. Student entrepreneurs may be used as interviewees; however they must meet the test of being legitimate, current entrepreneurs who have achieved customer revenues. A summer painting franchisee would not qualify, for example. In case of doubt consult the instructor.
BUSI 2800 Entrepreneurship (c) Tom Duxbury
Contact your selected entrepreneur and set a time for the interview. Let them know it will take
10-30 minutes, and that they will need to sign a waiver (Appendix B) for class use. The interview is an essential part of this assignment; you cannot submit a case study without having conducted one.
- Organize your questions. Use open-ended questions to generate as much insightful conversation about the business as possible. All interviews should include answers to these specific questions:
- Where did the idea for your new business come from? - How did you determine how feasible it was, initially? - How did you finance your new business?
- What was your biggest surprise?
- What advice do you have for someone starting a new business today?
Consider sending questions in advance, so your interviewee can prepare his/her answers. 3. Conduct the interview by arriving on time, and starting with signing the waiver
(Appendix B). You might find it helpful to record the interview if possible. During the interview, try to draw out conversation by asking for examples, or prompting for more information about the entrepreneurial experience.
- Review and reflect upon your interview; what is the story being told? Do extra research as appropriate– eg., the internal and external environment, product, competition, strategies. Feel free to include pictures, exhibits or other reference material. Include quotations as appropriate, but do not submit a word-for-word transcript of the interview. If your report is nothing more than a "talking head" interview you can expect a minimal grade.
- Send a thank you note (right away) and a copy of your final case study (when ready) to your interviewee.
- Submit signed waiver (Appendix B) to the course instructor with the materials on the due date.
BUSI 2800 Entrepreneurship (c) Tom Duxbury
APPENDIX A – Sample Suggestions for Interview Questions
(NOTE: do not ask all of the questions below)
A. How did you start your venture?
• How did you spot the opportunity? How did it come about and/or develop?
• What were your goals when you started? What were you lifestyle need or other personal requirements? Was there a good fit?
• How did you evaluate the opportunity in terms of the critical elements for success?
• The technical requirements of the business? The market? The financial requirements of the business and income potential? The people necessary to make it all work?
• Did you find or have partners? What kind of planning did you do? What kind of financing did you have?
• Did you have a start-up business plan of any kind? Please tell me about it.
• How much time did it take from the idea to the first day of business? How many hours a day did you spend working on it?
• How much capital did it take? How long did it take to reach positive cash flow and breakeven sales volume? How did you finance the business? Your own savings, family & friends, angels, banks, bootstrapping? Tell me about the pressures and crises during that early survival period.
• What outside help did you receive? Did you have experienced advisors? Lawyers?
• Accountants? Tax experts? Patent Experts, How did you develop these contacts and how long did it take? How did they make a difference to your company?
• What was your family situation at the time?
• What did you perceive to be your own strengths? Weaknesses? What did you perceive to be the strengths of the venture? Weaknesses?
• What was your most triumphant or exciting moment? Your worst moment?
BUSI 2800 Entrepreneurship (c) Tom Duxbury
B. Once your business got underway
• What were the most difficult gaps to fill and problems to solve as you began to grow?
• When you looked for key people for partners, advisors, managers, or employees, were there any personal attributes of attitudes you were especially seeking because you knew they would fit with you and were important to success? How did you find them?
• Are there any attributes among partners and advisors that you would definitely try to avoid? • Have things become more predictable or less and how?
• How does the time you spend with your business compare with when you first started?
• What are your plans for the future? Expand, Maintain, Harvest?
• Have your goals for the business changed? How? Have your personal goals in life changed?
C. Concluding Questions
• What do you consider your most valuable asset(s) – the thing(s) that enabled you to succeed?
• If you had it to do over again, would you do it again, in the same way?
• As you look back, what do you feel are the most critical concepts, skills, attitudes, and know- how you needed to get your company started and grow to where it is today?
What will be needed in the next five years? To what extent can any of these be learned?
• Some people say there is a lot of stress being an entrepreneur. What have you experienced?
• What things do you find personally rewarding and satisfying as an entrepreneur?
• What have been the rewards, risks, and trade-offs?
• Who should try to be an entrepreneur? And who should not?
• What advice would you give an aspiring entrepreneur? Could you suggest the three most important lessons you have learned? How can I learn them while minimizing the tuition?
(Appendix A credit: V. Gough – adapted with permission
BUSI 2800 Entrepreneurship (c) Tom Duxbury
APPENDIX B – ENTREPRENEUR WAIVER
Know All by these present that
__________________________ (printed name[s] of entrepreneur) of the City of _____ in the Province of _, for no consideration paid by the
Sprott School of Business of Carleton University at Ottawa Ontario, was hereby remised, released and forever discharged, and by these presents do for ourselves, our heirs, executors, administrators and assigns, remise, release and forever discharge the Sprott School of Business of Business at Ottawa, Ontario, their employees, students, administrators and assigns, of and from any and all manner of action and actions, cause and causes of action, sits, debts, dues, sums of money, claims and demands whatsoever at law or in equity which we now have or may have in the future, regarding all matters related to the creation and subsequent use of a interview which I have agreed to give to a team of Sprott School of Business students from Carleton University on ________________. (date of interview)
It is agreed and acknowledged that Sprott School of Business of Carleton University shall be the sole owner of the said interview contents and it is further agreed and acknowledged that the contents may be used in wide variety of educational purposes in diverse settings before diverse audiences.
IN WITNESS WHEREOF we have hereunto set our hand and seal this _ day of __, 20____.
(Signatures overleaf)
BUSI 2800 Entrepreneurship (c) Tom Duxbury
SIGNED, SEALED AND DELIVERED __________________________ Signature of Entrepreneur(s) named above
In the presence of _______________________ WITNESS NAME (Printed) ________________________ Signature of Witness
BUSI 2800 Entrepreneurship (c) Tom Duxbury
Sample Solution