Business Plan Project
You will roll up your sleeves early for this required course—the second of two projects in which you will apply the tools and concepts you’re learning in the classroom. Working in five-member teams, students take an idea for a product or service from concept to fruition. Regardless of career path, you will benefit from experiencing entrepreneurship as a way of thinking and acting. To create a robust business plan, teams must take a comprehensive view of the enterprise and incorporate management-practice knowledge from every first-semester course.
The project kicks off at the beginning of the first semester in the second year, gathering momentum and intensity over the span of 14 weeks. At the conclusion of the course, each team delivers a written business plan for a new venture, which will include analysis of the market and industry in which the business will compete, a viable financial and organizational structure, risk assessment, a marketing strategy, and, as appropriate, explanation of an underlying technology, manufacturing process, and/or service-delivery system. The project culminates in formal presentations in a competitive format to faculty, peers, and representatives from the business community, including executives, entrepreneurs, attorneys, and venture capitalists.
Teams may originate the business concept at the core of each plan. Alternatively, teams may choose to develop an idea presented by outside entrepreneurs, companies, and research laboratories at the Venture Idea Open House held early in the semester.
Classroom sessions and workshops with guest speakers cover topics including the entrepreneurial perspective, components of successful business plans, financing options including the venture-capital process, and international expansion. As teams develop their own plans, they receive coaching, feedback, and interim evaluations from faculty and Boston College law students who evaluate relevant legal issues.
Students take away skills with significant future utility in approaching entrepreneurial opportunities such as restructuring an internal system, penetrating international markets, launching new products and initiatives, or spinning off an existing business.
More information on the Business Plan Project can be found online at: http://www.bclob.com/business-planning-and-entrepreneurship/