To the lecture from Mr. Mogens Thomsen, Thomsen Business Information I am proud you will use this material for your education. Here you find a suggestion for structuring of your entrepreneurship education. The power points follow this pattern: Introduce the students to what is going to happen in this entrepreneurship module You must create a good learning environment for the students Discuss entrepreneurship in general terms with students Help students create an idea and turn it into a business idea Introduce a project plan on how to start a business – the business plan Trust that the students can create a business plan using www.dynamicbusinessplan.com Coach the students while creating the business plan Make the students present the business plan for you and others Read more about the entrepreneurship education concept: “Unleashing the Entrepreneurial Spirit” at www.dynamicbusinessplan.com/entrepreneurship

Entrepreneurship module - How to start your own business Agenda: Presentation of the entrepreneurship module Development of a business idea Introduction to writing a business plan Where to find help? Form groups and choose the type of business to start Entrepreneurship module, XX University Lecture: Mr./Mrs./Miss xx www.DynamicBusinessPlan.com

Targets of entrepreneurship module Objectives for students Feel that they dare start a business when the time is right Acquire an understanding about starting a business Understand drafting of the business concept Encounter problems and solve them Be able to present their business in a persuasive way Learning outcomes Be able to write a business plan Create an establishing and operating budget in a spreadsheet Show they have solved problems / challenges Plan and execute a presentation of business plan

The task: Plan start of business Choose type of business Make a business plan Present the business plan The proces Common introduction Individual advice in study groups - app. 60 min. ”Stand by advice” Hand over the business plan to lecture Present the business plan in class

Quality of the business plan Relevant topics in the plan shall be supported by data. Three types of data: Factual data - when one table cost 500 $, two must cost 1000 $ Estimated data - two customers said they will buy - therefore 20 might also buy .. Allegations - I just believe it is like that …

Presentation of business plan Max. 10 min. oral presentation + OHP / PP / blackboard to the class and to the lecture/ invited entrepreneurs. The following must be included: What does the company sell? Which and how many customers? How to come in contact with the customers? Turn over year one? Profit year one? Need for financing? Questions from class and lecture/ invited entrepreneurs

Rating of the project The entrepreneurship module will be accepted if: The business plan has a certain depth (Factual and estimated data) The presentation gives the audience a clear picture of your business. The presentation shows that you have considered your decisions It is OK if the conclusion is not to start the business

Teaching material Go to: Here you will find: Reading: www.DynamicBusinessPlan.com Here you will find: Template for a Business plan - word Establishing budget - excel Operating budget – excel Online business plan information Reading: Book: The Dynamic Business Plan

Entrepreneurship in our country Definition of an entrepreneur Entrepreneurs in your family? Top three entrepreneurs in the country? What makes a good business? Room for more entrepreneurs in the country? Government effort to promote entrepreneurship

Development of business idea - work in study groups Discuss the use of a mobile phone: - two years ago - to day - in three years Can you ways to profit of the mobile market in three years? What type of business do you prefer the most? Where do you find most customers to day? Where do you find most customers in two years? Each group discus their business idea Each group create a business idea in group work

Three steps to start a business Three ingredients must be present to start a business: + Be creative (combine known things in a new way: an idea) + Be innovative (the found idea must be useful for customers) + Entrepreneurship (carry out the useful idea in real life, action!) = Start of a new innovative business A business plan helps you describe the new business

Business plan - items you must know about: Download business plan template: www.dynamicbusinessplan.com/downloads

Personal resources Your family network Economy Education in the field Know-how about the product/the services My weak points in relation to the business My working tasks in the business Future prospects for business size

Product or service Products/lines/service – 1 - 2- 3 Differences compared to your competitors Purchase frequency/product life span Calculation of product/service Price of product Purchase price Name of contractors Kind of distribution of the product Other businesses in this trade

Market – who will buy? The typical private customer The typical business customer Geographical limits Realistic number of customers Average consumption in cash per customer Important competitors Competitive parameters on the market Possibilities on the market for your business Threats that may destroy the possibilities

Sales and Marketing Direct mail Internet Customer visit Telephone sale Advertising Publications Signposting Presentation material Trade Fair Public Relation (PR) Opening market activity

Management and Organisation Name of business/address/phone no/ Legal status of business Owners Bank Accountant Business policies Accountancy and administrative routines Write letters Telephone reception Insurance subscriptions Business partners /consultants

Business Development Business appearance in three years? The product or service in three years? Customers in one and in three years? Financial forecast for year three? Other goals with your business?

Budgets and Financing Establishing budget Operating budget Cash Flow budget Financing + Necessary establishing capital + Necessary liquidity = Total funding needs

Annual accounts - profit & loss Turnover/sale ‑ Used goods /variable costs = Gross profit ‑ Fixed costs ‑ Interest - Depreciation = profit = your salary Personal tax is paid on the basis of the company´s profit Accounts and budgets are always without VAT/sales tax

Profit & loss statement - Accounts for a small building company, 2014 Turnover/sale 442.000 ‑ Use of goods 145.860 = Gross profit 296.140 ‑ Fixed costs 97.116 ‑ Interest 0 = Profit = Your salary 199.166

www.DynamicBusinessPlan.com - core business plan knowledge

Business Plan answers www.dynamicbusinessplan.com/three-important-budgets

First work task: Decide your business idea Decide which kind of business you will start ? Describe the business in four lines and hand it over to the lecture at the first meeting Inputs: Build on your own experience - business as leisure Build on what you find interesting, fun or challenging You could assume you have specific education or contacts

Second work task: Individual coaching in study groups The study group gets the chance to talk lecture for app. 60 minutes. The lecture and the study group will among other things discuss: What will your business sell? Which and how many customers? How do you get in contact with customers? Turnover year one? Cost year one?

Teaching material – once again Go to: www.dynamicbusinessplan.com You will find: Template for a Business plan - word Establishing budget - excel Operating budget – excel Online business plan information Reading: The book: The Dynamic Business Plan