Creating a Company 1

Creating a Company (ENTRE 472/473)

John R. Castle, Sc.D.castlej@u.washington.edu

425-503-1079Mackenzie 222

Creating a Company 2

John R. Castle, Sc.D

Chemical Engineering, MITHarvard Graduate School of BusinessFounder of 9 companiesCEO/COO 14 companiesDirector/Advisory Board - 17

companiesNon-profit boards

MIT Enterprise Forum (www.mitwa.org) Northwest Venture Group (www.nwen.org) Encompass (www.encompassnw.org)

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Course Requirements

All or Nothing - 2 Quarters, One Grade

Time Required: 10 - 20 Hours/Week, so not a good “filler” course

Judged by Business StandardsFull Immersion Experience

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Varied and broad background

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Instruction is Minimal

Guidelines and basics from Instructor

Tips from guest speakersLearn from each otherTest your own ideas in the market

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Business Environment

On time attendanceActive participationRisk taking is rewarded more than

success (see grading system)Dress is business casual to build

credibilityEthical behavior and full disclosure

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Skills Required

ResourcefulnessFlexibilityClear writingPublic speakingTeam spiritEmotional Intelligence

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Business Ideas

Possible in 2 quartersExcitingChallenging FunFit with team’s skills

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Funding and Profits

Loans awarded by judgesLimited personal financial riskRevolving FundExcess profits donated to

Business School

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Grading Criteria

Concept and plan 1st qtr - 30%Execution and result 2nd qtr- 70%

Profits - 30% Response to change - 40% Complexity - 15% Performance to plan - 15% Addl credits for peer reviews,

leadership

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Assignment for Next Class

Form teams of 4-5 peopleElect company officersChoose a business Be prepared to report to

the Board of Directors

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Introductions

NameMajor and SkillsBusiness experienceImportance to youBusiness idea that you want

others to join you in (if you have one)