Entrepreneurial Business Planning
Entrepreneurship is all about starting and running one's own business. In order to focus thinking and to help assemble the needed people and financial resources, many entrepreneurs write a business plan for their new venture. One of the best ways to learn how to write a business plan is to learn by doing -- a real plan for a real new venture. The work will be "hands-on," "learn by doing" in nature. Entrepreneurs should be flexible thinkers and highly motivated, with a large capacity for work. They must be persistent and able to thrive in an unstructured environment. Entrepreneurs should be confident self-starters with the ability to take the initiative, overcome obstacles, make things happen and get things done. This course is for six teams of five students each, who want to write a business plan for their own real new startup company. Students will enter their plans in the Y50K Business Plan Contest sponsored by the Yale Entrepreneurial Society. The scope of the work will include: doing in-depth market, product and competitor research; creating a strategy for a sustainable business; and writing and presenting a professional quality plan (including a financial model and deal structure).
Management of Software Development
Global Social Entrepreneurship: India
Launched in 2008 at the Yale School of Management, the Global Social Entrepreneurship (GSE) course links teams of Yale students with social enterprises based in India. GSE is committed to channeling the skills of Yale students to assist Indian organizations to expand their reach and impact on “bottom of the pyramid” communities. Yale students partner with mission-driven social entrepreneurs (SEs) to focus on a specific management challenge that the student/SE teams work together to address during the semester. In five years, GSE has worked with 30 leading and emerging Indian social enterprises engaged in economic development, sustainable energy, women’s empowerment, education, environmental conservation, and affordable housing.
The course covers both theoretical and practical issues, including case studies and discussions on social enterprise, developing a theory of change and related social metrics, financing social businesses, the role of civil society in India, framing a consulting engagement, managing team dynamics, etc. The course is taught by Tony Sheldon, Lecturer in Economic Development and Executive Director of SOM’s Program on Social Enterprise.
All students will travel to India to work on-site with their partner SEs and for a convening of all the student/SE project teams.
Investing in venture capital and in the equity of private companies is an apprenticeship business. Venture investors need analytic and quantitative skills, as well as broad knowledge of a range of business and financial disciplines. Successful investors need practice and a variety of experience, as well as good judgment and people skills. Course topics include start-ups and expansion stage venture capital, leveraged buyouts, and turnaround situations. Disciplines include business research (library skills), business and financial analysis, financial projections and equity valuation, verbal and written presentations, teamwork, and negotiating techniques. The course includes both lectures and in-depth case studies, with a strong emphasis on "learning by doing." Teamwork is actively encouraged to frame and solve problems, and to handle heavy workloads. Execution of case studies requires teams of students to do research on industries, segments and niches, to evaluate business plans, and to make financial projections and value equity instruments. Teams will make written and verbal presentations. Entrepreneur and investor teams negotiate and structure "deals" in a role-playing mode. Five students will be selected from this class to represent Yale SOM as a team in the National Venture Capital Investment Competition (against 35 other MBA schools).
Venture Capital & Private Equity Investments
This is a seminar course for the advanced study of start-up founders’ experiences. Each class is devoted to a single topic related to the experience of start-up founders that is not covered in other entrepreneurship electives. The classes consist of readings, case studies, activities and lectures led by experienced founders. These are followed by student-led interviews of the entrepreneurs. Topics change yearly and may include building company culture, sales techniques, board management, founder disputes, start-up acquisitions, going public and others.
Start-up Founder Studies
The purpose of this course is to provide full-time SOM students with a mechanism to work on their start-up ventures for credit, applying principles derived from their other coursework, particularly the integrated core curriculum. Students in this course articulate milestones for their ventures and work with faculty, staff, and mentors to meet those milestones. Generally, the course employs "lean" methodology. Admitted students are given working space in the Entrepreneurial Studies Suite of Yale's Evans Hall.
Start-up Founder Practicum MGT 646
This course will give students a broad understanding of the major “new venture” opportunities in healthcare & medicine---healthcare delivery, healthcare IT, pharmaceuticals, biotechnology, medical devices, and surgical techniques. In each of these areas, they will understand the canonical path to commercialization including how to identify opportunities; who the customers is; how to build interdisciplinary teams; and regulatory hurdles to commercialization. The course is designed for a diverse student body including students from management, natural sciences, and medicine. The course comprises lectures, raw cases, guest speakers, and in-class projects.
New Ventures in Healthcare and the Life Sciences
The purpose of this course is to provide students with an opportunity to explore being an entrepreneur by purchasing a company, rather than starting one from scratch. The readings and class discussions will help students understand how to purchase a business, finance an acquisition, and operate and grow a business. The cases and conversations will help students understand what it is like being a young, first time CEO and what types of challenges and issues will be encountered.
The general course structure will follow the lifecycle of an entrepreneur who purchases a business to operate. The first few session will explore the concept of entrepreneurship through acquisition and how this compares to different forms of entrepreneurship and its pros and cons. How to purchase a business and what type of business to purchase will be examined. How to operate and grow a business as a young, first time CEO will be considered. What happens when a business works well and when it does not work well will be discussed. Finally, how and when to sell a business and what that means for the entrepreneur and business will be reviewed.
Entrepreneurship Through Acquisition MGT 671
This course will examine a variety of legal and strategic issues likely to arise in the course of forming an entrepreneurial venture and managing a growing firm. Students will learn how to use the law and legal tools to create value, marshal resources (human and financial), and manage risk and how to integrate legal and regulatory considerations into a firm’s overall strategy. Issues addressed include arrangements among the founders, intellectual property protection, venture capital financing, executive compensation (including tax considerations), securities regulation, and mergers and acquisitions. LAE will be of particular interest to students planning to become entrepreneurs, venture capitalists, investment bankers, chief financial officers, or directors of business development in large firms.