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Creating a Company 1
Creating a Company (ENTRE 472/473)
John R. Castle, [email protected]
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)
Creating a Company 3
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
Creating a Company 4
Varied and broad background
Creating a Company 5
Instruction is Minimal
Guidelines and basics from Instructor
Tips from guest speakersLearn from each otherTest your own ideas in the market
Creating a Company 6
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
Creating a Company 7
Skills Required
ResourcefulnessFlexibilityClear writingPublic speakingTeam spiritEmotional Intelligence
Creating a Company 8
Business Ideas
Possible in 2 quartersExcitingChallenging FunFit with team’s skills
Creating a Company 9
Funding and Profits
Loans awarded by judgesLimited personal financial riskRevolving FundExcess profits donated to
Business School
Creating a Company 10
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
Creating a Company 11
Assignment for Next Class
Form teams of 4-5 peopleElect company officersChoose a business Be prepared to report to
the Board of Directors
Creating a Company 12
Introductions
NameMajor and SkillsBusiness experienceImportance to youBusiness idea that you want
others to join you in (if you have one)
