Each week you can read a recap of the previous Entrepreneurship Resource Nights (Business Plan Practicum) session. This week, instructor John Zagula (founder, Ignition Capital) lead a class featuring Hope Cochran, managing director of Madrona Venture Group and Foster Librarian Jason Sokoloff.
QUOTES OF THE WEEK
“If you’re not a risk taker, you should get the hell out of business” – Ray Kroc
“Risk comes from not knowing what you’re doing” – Warren Buffett
“I read, I study, I examine, I listen, I think, and out of all that I try to form an idea into which I put as much common sense as I can” – Marquis de Lafayette
FOURTH RESOURCE NIGHTS SESSION
We left the dreaming phase of our class and entered the thinking and planning phase this past week. Core to that is truly understanding and balancing risk and opportunity. We talked about this from various angles. We introduced various tools and approaches including the 3 C’s model and SWOT to understand the playing field and landscape of what you are up against in turning your ideas into a real business.
We heard from Hope Cochran, an exceptional practitioner of assessing and embracing both risk and opportunity in life, career, and investing. We put some of these concepts into a practice analyzing real industries and businesses from your own ideas (Yay teams!) with the help of our wonderful Foster Librarian Jason Sokoloff. He also introduced the class to the use of the amazing (FREE) tools at student disposal to back your playing field assessment with real data and analysis. Finally, we closed with an investor perspective of how to prioritize these risks.
ENTREPRENEURSHIP RESOURCE NIGHTS LECTURE SERIES
Are you entre-curious but not sure how to begin? Have you always dreamed of creating a company? Do you already have a startup and want to take it to the next level? Students across campus are enrolled in the Business Plan Practicum (aka Resource Nights)—but you can also to drop-in and learn first-hand from local entrepreneurs the essentials of business planning and what it really takes to get a company off the ground! The ten sessions include topics such as: From idea to product; assessing risk; business models and financials; legal issues; crafting and giving a great pitch.
Resource Nights are each Thursday starting January 10 from 6 to 7:50 p.m. in PACCAR Hall 192 (Shansby Auditorium). Can’t make it in person? Lectures will be recorded and the links posted to our website weekly. View the Resource Night schedule for links and complete listing of topics and guest speakers.
Thursday, February 7 at 6:00 pm in PACCAR Hall, Shansby Auditorium (room 192)
We are going to be talking all about strategy with CEO strategists no less! We are in the second part of the second part, which involves going from analysis to decision making. Guest(s) include Xiaoyu (Renee) Wang, CEO of Castbox, and Tom Gonser, founder of DocuSign.
Reminder, you can drop-in or catch the recording of this weekly course.
QUESTIONS ABOUT THE HIC, EIC or DEMPSEY STARTUP COMPETITION?
Hollomon Health Innovation Challenge: Terri Butler – Reminder the deadline to apply is Monday, February 11!
Alaska Airlines Environmental Innovation Challenge: Lauren Brohawn – Reminder the deadline to apply is February 19!
Dempsey Startup Competition (formerly UW Business Plan Competition): Sarah Studer