Creating a Company (ENTRE 472/473)

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Creating a Company (ENTRE 472/473)

• John R. Castle, Sc.D.
• castlej_at_u.washington.edu
• 425-503-1079
• Mackenzie 222

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John R. Castle, Sc.D

• Chemical Engineering, MIT
• Harvard Graduate School of Business
• Founder of 9 companies
• CEO/COO 14 companies
• Director/Advisory Board - 17 companies
• Non-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 Standards
• Full 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 speakers
• Learn from each other
• Test your own ideas in the market

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Business Environment

• On time attendance
• Active participation
• Risk taking is rewarded more than success (see
  grading system)
• Dress is business casual to build credibility
• Ethical behavior and full disclosure

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Skills Required

• Resourcefulness
• Flexibility
• Clear writing
• Public speaking
• Team spirit
• Emotional Intelligence

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Business Ideas

• Possible in 2 quarters
• Exciting
• Challenging
• Fun
• Fit with teams skills

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Funding and Profits

• Loans awarded by judges
• Limited personal financial risk
• Revolving Fund
• Excess 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 people
• Elect company officers
• Choose a business
• Be prepared to report to the Board of Directors

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Introductions

• Name
• Major and Skills
• Business experience
• Importance to you
• Business idea that you want others to join you in
  (if you have one)