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BCS 421

Seneca College, Newnham Campus, Toronto, Canada
For the sections taught by
Prof. Tim Richardson   During the 
Jan - April 2002 term
Detailed Outline                    January 2002
-extensive listings of further readings, useful contacts and helpful web sites
 -detailed templates for two business plans 
- a retail or service-type business and a manufacturing company
 -a real-life business plan

 And 24 profiles of successful Canadian Entrepreneurs in Action

Building a Dream (the text for this course) is an easy-to-follow workbook that gives you everything you need to make your small
                        business a success:
                        -practical outlines, checklists and screening devices
                        -helpful worksheets for analyzing and forecasting data
Jan 7th 
Section TT 

Jan 9th 
Section UU

Handed out Official Course Outlines, also available online at 

discussed in class key points of the Official Learning Outcomes of the course 

1. Define entrepreneurship 
- and importantly; evaluate yourself as an entrepreneur 
2. Entrepreneurship in Canadian Society 
- what is different about starting a business in Canada (say compared to the U.S.) 
3. Attributes and Characteristics of the SME Entrepreneur 
- so you will know if you have this (which helps with point #1) 
4. The types of entrepreneurial opportunities available 
- some are obvious, some are hidden 
5. Develop a way to evaluate an entrepreneurial opportunity that would fit you 
- so you can know which ones you might succeed at, and which ones to avoid 
6. Create a Business Plan 
- a simple, but concise explanation of what you will do with the 4P's, and the relevant environments and the 3M's 
7. Financing 
- how to get money, and creative ways of sourcing it when it is hard to find 

Also explained that a big part of this course is the personal awareness that you will obtain of your individual ability as an entrepreneur, and if you are so inclined, what things you might want to try.

Jan 10th 
Section TT 

Jan 11th 
Section UU

Took time at the beginning of the class to use probing questions to have students in the class suggest many different words (nouns, adjectives and verbs) which could be used in creating a definition of "what is an entrepreneur" 

After a large list was put on the blackboard, the class was divided into groups and each group used their own combination of words to come up with a definition of "what is an entrepreneur". 

Groups that did well earned 3/3 marks

Jan 10th 
Section TT

Jan 11th 
Section UU

Terms associated with being an Entrepreneur
people skills 
problem solver 
open minded 
First Assignment 1. find (online or offline) 2 sets of questions/lists of qualities to be an Entrepreneur 
2. Go through the questions in the list and evaluate yourself 
3. After scoring your evaluation, write down your strengths and weaknesses and compare this against the definition your group did in class 
4. Bonus marks awarded if you co-operate with another student to obtain additional 2 sets of questions/lists of qualities to be an Entrepreneur and go through the questions in these lists and evaluate yourself 
5. Hand in this assignment next class 
Section TT Jan 17th 
Section UU Jan 16th 
  • When you hand in the assignment, include an introduction / exec summary explaining what you did and where you looked for info, the results, and attach the list of questions
The purpose of this exercise is based on the premise that before you spend three and a half months studying entrepreneurship - you must first understand what personal characteristics you have which are strengths and weaknesses for being and entrepreneur.
Jan 16th 
Section UU 

Jan 17th 
Section TT

In class this week we had a wide ranging discussion about:
Exploring Business Ideas: there are basically 2 ways you can go
we then discussed among the class members the 2 ways
  • think up of something original
  • Use somebody else's idea and expand on it
we can use simple terms to identify the difference as
  • 1. create
  • 2. innovate

1. Create your own 

  • create a service
    • personal service
      • eg. helicopter flying lessons for blind people !!
    • industrial service
      • eg. fixing web site errors and broken links
  • create a product
    • personal product
      • eg. shoe saver for muddy streets
    • industrial product
      • eg. hand clap door access
      • eg. recycled pallette's
2. Innovate: Use somebody else's 
  • after market add on products
    • eg. auto decals to put on your car
  • additional services
    • shipping to Canada and collecting exchange rate fees
  • franchising
Second Assignment Exploring Business Ideas
Identify, with reasons and explanation, business ideas which would suit your personality and interests 
1. Identify 4 different ideas in the category of "create your own" 
2. Identify 3 different ideas in the category of "use somebody else's" 

List what each idea might be. 
Briefly explain how it would, or would not fit your personality, and what you understand an entrepreneur to be. 
Marks will be given for clear and "reasoned" answers showing originality. 

Hand this in to the next class 
Jan 23rd Section UU 
Jan 24th Section TT 

The purpose of this exercise is to force you to think about the range and variety of different entrepreneurial situations and apply how they would be relevant to your capabailities and interests.

Jan 23rd 
Section UU 

Stage (Chpt) Six 
Jan 24th 
Section TT

In class this week we had a wide ranging discussion about technical and market assessment.
We reviewed the points on page 125 re: a typical feasibility study and discussed what areas entrepreneurs are able to get good information, and in what areas there are weaknesses.

We also discussed "Who is your customer" on page 127 in the text

Page 129 notes Trade Publications.

Using Trade Associations is a great way to get market information.

Third Assignment This Assignment will be "work" which will be credited towards the "Comprehensive Business Plan" for this course.

Your task, is

Read text page 123-148
Concentrate on page 138-140 "Selecting a Location"

Answer the questions from the text on page 158
Do questions
1,2,4,5,6,7,8,9,13,14a,14b,14f,17,19 for a "real location"
- write out information for each question and hand it in next week in class
- you will be marked based upon your ability to find "real information" about a real place and convince the reader of the assignment (me, your prof) that you learned something about the locational considerations of developing an entrepreneurial situation.

Jan 30th 
Section UU 

Stage (Chpt) Eight 
Jan 31st 
Section TT

In class this week we had a discussion about organizing the business.

Are you going to stay a simple Sole Proprietor, will you have a Partner, will you get Incorporated, and the advantages and disadvantages of each.

Also, in the age of the Internet - we discussed the process of picking a domain name and how that may effect your selection of a company name. - go here to see about names

this is a screen capture from one of the companies that provides NUANS name search servics for companies that need a search done - in order to incorporate - click on this screen capture to read more about NUANS
. .
. There are thousands of web pages about starting a business - some offer advice - some offer to sell you products and services.

This page offers information to help entrepreneurs with their business start-up. Many tips describing the
 fundamentals for a home based (SOHO) or office based business. Read profiles of successful start-ups
 companies, learn how government agencies like the SBA can help and understand the importance of well
 defined objectives.

Many of the banks have business advice on their web site - see the screen capture below to go to the BMO page about Business Plan basics


or Hindrance

"Of any level of government, it is perhaps the local municipalities that can have the most direct influence on small- and medium-sized enterprises (SMEs). Although the federal and provincial governments may have a huge influence on a business's way of doing business, its operating  structure and many of its tax obligations, local communities help define what the business is. 

 How local governments help shape their communities, therefore, helps determine the development of the local business community. Businesses, in return, also contribute to the definition of the community in the goods and services they produce, the jobs they create and the investments they make. For the most part, SMEs serve their local communities and business owners accurately reflect their communities' sets of values. "