Section 1:	The New Venture Strategy Primer
Section 2:	Customers and the Marketing Mix
Section 3:	Competitive Strategy
Section 4:	New Product Development
Section 5:	Entrepreneurship and Brilliant Decision Making
Section 6:	Venture Capital, Private Equity, and Financial Projections
Section 7:	Legal Strategy and Negotiations
Section 8:	Strategy and Self Discovery

Module 1: The New Venture Strategy Primer

Participants begin their journey with a rigorous, in-depth overview of new venture strategy. The module is designed to introduce you to the world of entrepreneurship and to give you a "repertoire" of tools for crafting and launching a new venture (e-business or otherwise.) As well, we will explore the Internet and understand what "e-business strategy" used to be and why, today, e-business is just part of business. Videos: Professor Amar Bhide of Harvard Business School is a well-known expert on entrepreneurship. His illuminating lecture will introduce you to the different types of entrepreneurial initiatives and how they differ from corporate new ventures. Professor Phil Anderson of the Dartmouth College Tuck School will share with us his views of the Internet economy and how entrepreneurs can learn from the Internet¹s lessons of the past few years. Those entrepreneurs focused on an Internet-related venture can optionally view various additional "dot.com" lectures by professors and practitioners throughout the Program. Articles: a package of readings that include seminal articles about entrepreneurship, new venture strategy, and internet/new technology management. Book: "The Alchemist" by Paulo Coelho Case: American Imports. Assignment: what should they do? Assignment: one page summary of your business plan idea Journal writing begins.

Practicum 1: The Practicum is your private, 2-hour meeting with your mentor. During our first in-person session we will accomplish the following: Detailed discussion about your business plan and personal objectives for the Academy. Discussion of the readings and videos in Module 1. Discussion of the American Imports case. What is strategy? Why do strategy? What is our goal? Is it important? What can we expect? How will we proceed? What is our essential dilemma? How do we analyze a new venture case? What is the role of facts versus judgments? How do you rate the founders? How do you rate the management team? How important are contracts for a new venture? Finally, Round Table Group¹s framework for business plan writing and analysis is presented. Topics include: Introduction of data analysis. What is good data? How important is it in a business plan? What is the most important line of projected financial statements? What shall we do with American imports?

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Module 2: Customers and the Marketing Mix

Effective entrepreneurship requires a customer-centric approach and a thorough understanding of marketing techniques. Sometimes, customers do not even realize what they need (unarticulated needs) ­ this module will teach you how to figure it out for them. The module also introduces new models for understanding customers and marketing strategies in the context of e-business. Videos: Marketing Management. This intense video course introduces participants to the "classic," time-tested approach to marketing. The instructor is Professor Sanjay Dhar of the University of Chicago Graduate School of Business. Optionally, participants can view advanced lectures focused on e-business marketing by faculty from Vanderbilt University, the University of California at Berkeley, and the University of Michigan. Books: Those new to marketing should read Chapters 1-5 of "Marketing Management" by Phil Kotler. For those that have been exposed to marketing strategy before, please undertake a close reading of "Crossing the Chasm" by Geoffrey Moore. Articles: A collection of important articles on marketing techniques Assignment: Answer the first of the 4 basic questions: Will customers accept/buy your product? What do they buy now? Why would they switch? How do you get them/keep them? Journal writing in process.

Practicum 2: Discussion of the readings and videos in Module 2 Presentation of marketing strategy and competitive strategy frameworks. Preparation for the writing of the marketing section of the business plan

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Module 3: Competitive Strategy

Having achieved a basic mastery of introductory topics in new venture strategy and marketing, our journey comes full circle to take a "back to the basics" perspective on business strategy. In this segment we will: Articles: read the "classic" texts on competitive strategy by Michael Porter, Peter Drucker, Gary Hamel, CK Prahalad, Edward Wrapp, and Henry Mintzburg Videos: Learn about the "resource based view" of strategy by Hank Lucas of NYU¹s Stern School. Gain an understanding of cutting-edge strategy topics such as "co-opetition," game theory, complements, and bundling by Barry Nalebuff of the Yale School of Management Books: "The Profit Zone" by Adrian J. Slywotzky, et al. (Chapters 1-3.) Also, "Co-Opetition" by Bradenburger and Nalebuff (Chapters 1-4.) Assignment: Write business plan marketing strategy. Conduct rigorous competitive/collaborative analysis. Write competitive analysis section of the business plan. Using "The Profit Zone" as a guide, identify your profit model. Side journey: Listen to "Different Trains" by Steve Reich performed by Pat Metheny and Kronos Quarter. Go on a long train ride, with no particular destination in mind. When you arrive, wonder around for one hour, then take the train home. Write about your experience in your journal. Journal writing in process.

Practicum 3: Discussion about the readings and videos in Module 3. Review of business plan competitive analysis Review of business plan marketing strategy

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Module 4: New Product Development

Entrepreneurs who wish to maximize their probability for commercial success must have a comprehensive and thorough understanding of how new products are designed, tested, and introduced to the marketplace. This module is the first-ever home-based learning offering of a world-class new product development course. Our guide for this module is Professor Sanjay Dhar of the University of Chicago Graduate School of Business. Participants watch a series of lectures and also undertake a close reading of the classic new product development text, "Designing and Marketing New Products" by Glen Urban and John Hauser. Warning: this module requires 12 hours of video and significant readings. The module includes the following topics: Opportunity Identification: market definition and idea generation Design: perceptual mapping, product positioning, concept articulation Forecasting, product engineering and the marketing mix Testing: advertising and product testing Pretest market forecasting Test marketing Product introduction: launch planning Life cycle management Assignment: Create perceptual map. Prepare strategy for customer surveys and/or focus group Journal writing in process.

Practicum 4 Review perceptual map Review plan for customer surveys and focus groups.

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Module 5: Entrepreneurship and Brilliant Decision Making

In many business situations it is not possible to solve a decision-making problem analytically. Because of data limitations and/or computational difficulties, an intuitive approach must be used. In such situations, decision makers are subject to systematic biases and errors. That is, their decisions predictably diverge from optimal solutions. This Module is devoted to understanding the nature, causes, and implications of these human decision making limitations. We begin with a careful reading of two masterworks: the first a treasure of ancient philosophy (Plato¹s "Meno"); the second a modern masterpiece of philosophical skepticism, the "Enquiry Concerning Human Understanding" by David Hume. We then read another "classic text" in the behavioral science realm, "Decision Traps" by Edward Russo and Paul Shoemaker, and two short articles about brilliant decision-making. Assignment: Conduct surveys and focus groups; analyze data. Incorporate findings into the business plan. Assignment: Building your team. Know what you know (what are the strengths of your current team.) Know what you don¹t know (who is missing in your team.) How will you get them? Side journey: Listen to various "classic jazz" albums such as "Kind of Blue" by Miles Davis. Think back on the Mintzberg article. How does improvisational jazz relate to entrepreneurial strategy? Journal writing in process

Practicum 5: Review results of focus groups and surveys Discussion about the team Dialogue about knowledge, virtue, and brilliant decision making

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Module 6: Venture Capital, Private Equity, and Financial Projections

This module begins with a primer on economics and two lectures on the "Economics of Information" by Professor Hal Varian of the University of California, Berkeley. The lectures are supplemented by readings that describe the structure and governance of venture capital firms and introduce us to the world of venture capital and private equity. During this module we will teach you how to conduct financial projections and "build" the financial model for your business plan. Videos: "The Economics of Information" and "Pricing Information" by Hal Varian. Articles: Readings that describe the structure and governance of venture capital firms, interviews with venture capitalists, technique for large company corporate venturing Books: "Information Rules" by Hal Varian (Chapters 1-4.) Assignment: Conduct financial projections. Create pro-forma financial statement. Journal writing in process.

Practicum 6: Review financial projections Discussion about QuickBooks and internal controls

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Module 7: Legal Strategy and Negotiations

Business strategists must have an understanding of the ever-changing legal environment, as well as the "human side" strategy. During this module you will meet with a lawyer to discuss your business plan. We will also explore the advanced strategy topics of E-Law, negotiations, and "people management". Our guides for this segment include Peggy Radin from Stanford Law School, Doug Lichtman from the University of Chicago Law School, and attorneys from Baker & McKenzie and Winston & Strawn. During this module we also begin our most intense focus on writing and presenting the business plan. [Note] Book: "How to Win Friends and Influence People" by Dale Carnegie and "Getting to Yes" by Roger Fisher. Assignment: complete first draft of business plan Assignment: prepare for "venture capital" presentation and negotiation. Side journey: Attend a live symphony performance. Listen to Beethoven¹s Ninth Symphony. Journal writing in process

Practicum 7: Review first draft of your business plan Dress rehearsal: ten minute business plan presentation

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Module 8: Strategy and Self Discovery

The New Entrepreneurs Program concludes with this powerful learning opportunity. Participants read a number of important texts about leadership, strategy, and self-discovery. Texts, readings, and learning approach are drawn largely from the award winning "Business Policy" course taught by Harry L. Davis at the University of Chicago. The reading list includes: Managers and Leaders: Are They Different" by Abraham Zaleznik, HBR, March-April 1992 "Ethical Leadership and the Psychology of Decision Making" by David Messick & Max Bazerman, Sloan Management Review, Jan. 1996 "Siddhartha" by Hermann Hesse "The Rationalizing Animal" by Elliot Aronson, Psychology Today, January 1, 1973 "On the Art of Scientific Imagination" by Gerald Holton, Daedalus, pp. 183-208 "The Work of Leadership" by R. Heifetz and D. Laurie, HBR, Jan.-Feb. 1997 Assignment: Final draft of business Assignment: Final preparation for "venture capital" presentation Assignment: Complete journal

Practicum 8: Your final "performance" of your business plan presentation will be reviewed by your mentor and, possibly, by a panel of judges and investors Celebratory dinner or luncheon

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