WHCP 615 Communication Challenges for Entrepreneurs Syllabus Spring 2015

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1 WHCP 615 Communication Challenges for Entrepreneurs Syllabus Spring 2015 Welcome to Communication Challenges for Entrepreneurs! Course Objectives: This course is designed for students who are currently active in starting a business while at Wharton. The goal of this course is to build on the presentation skills developed in WHCP 611 by focusing on the unique challenges entrepreneurs face when communicating their business plan to investors. The course takes a systematic approach to developing your pitch deck, focusing on concisely communicating your business description, value proposition, market opportunity, and revenue potential. You will use your own business plan as the basis for each assignment. Students will receive coaching from a successful entrepreneur, and will have the opportunity to pitch their business idea to investors. The major components of this course include: Class 1: Framework/Best Practice for Successful Pitching; Impromptu Speaking Class 2: Presenting Your Business Opportunity Class 3: Presenting Financials Class 4: Structuring Your Presentation Deck Classes 5/6: Delivering Your Final Pitch You are expected to come to class well prepared and ready to present the designated section of your pitch. Reading materials and videos are provided to assist you in the completion of the assignments since there is limited lecture time in class. Classroom time will primarily focus on student presentations and feedback on the content and delivery of each pitch. Assignments and Grading: Due dates vary so please read each assignment carefully. Class Assignments: # Points Business Summary (before Class 1): 5 Business Opportunity Pitch (Class 2): 15 Financials Presentation (Class 3): 10 Draft Deck (Class 4): 15 Final Pitch (Class 5/6): 25 Total for Assignments 70 Class Participation: 30 Please note the following details about the assignments: All assignments are included in this syllabus and in Canvas o You must complete all assignments on time to receive full credit. o All assignments, including speeches, submitted more than 1 week late will receive zero points Links to all homework videos are in this syllabus and in Canvas All readings are on Study.net Class participation will be graded on class contribution and attendance DUE Before Class 1: Submit Business Summary

2 Once Course Match assigns you to one of these sections, you must send your instructor the following information two days before Class 1: company description, product/service description, market/industry analysis, competitor analysis, marketing/sales plan, business model, risk factors and management team. Please Note: This course requires students to submit financial projections and funding needs by class 3. You will be asked to defend all assumptions about your business plan and financial projections. Class 1: Framework/Best Practice for Successful Pitching; Impromptu Speaking Course Overview/Expectations Framework for pitching your business Guidelines/best practices for delivery and slides Assignment due for Class 1: Read: Course Syllabus on Canvas Read: The Top Ten Lies of Entrepreneurs by Kawasaki Read: Pitching Business Opportunities by Applegate, Kerr, and Brownell Read: Wharton BPC Business Overview Template & Judging Class 2: Presenting the Business Opportunity Deliver 3-minute pitch with feedback from Advising Entrepreneur Guidelines for presenting financials Assignment due for Class 2: Submit: Your revised Startup Madlib based on feedback you received in class. Read: Chapter 3 from: The Art of the Start by Kawasaki Read: Top Ten Slide Tips by Garr Reynolds Prepare: A 3-minute, 3 slide presentation that illustrates the market opportunity and how your business will capture this opportunity. The pitch should address the following areas: 1) The Problem and Value Proposition Clearly and concisely articulate the problem or opportunity you have identified and why the problem matters. Describe your solution, how your product or service alleviates the customer pain (or addresses the future need) and how your solution differs from the competition (your value proposition). Use examples and analogies to help the audience connect to your solution. 2) The Market Identify which customers you are targeting with your product or service and provide an estimate of market size and demand potential. Here you want to demonstrate that the market is attractive (and growing) and that you have a plan to capture a portion of it. You also want to give an overview of the competitive landscape and explain how you will attract customers to your product or service (your go-to-market strategy). 3) The Business Model Explain how the business will generate revenue, how the product or service will be sold (storefront, internet, mobile app, etc.), and, if appropriate, other players essential to

3 making your vision a reality. You do not need to provide detailed financial projections (that is a later assignment). Simply state how you will make money, the price you will charge customers and why you believe customers will pay that price. Please note that this pitch is not intended to cover every aspect of your business. The focus is specifically on the opportunity and business model. It is recommended, but not required, that you write your pitch before working on the slides. A 3-minute pitch should be approximately 500 words. The pitch should be straightforward and not overly technical. When developing your slides, please consider the following guidelines: 1) Keep slides clean and simple with one message per slide 2) Use slide titles to convey the message of the slide 3) Be concise keep text to a minimum 4) When appropriate, use images and graphs to convey ideas Before class, please post your slides on Canvas and bring a copy to class on a flash drive. Class 3: Presenting Financials/Structuring Presentations Deliver 2-minute pitch on financials Guidelines for deck preparation Assignment due for Class 3: Read: Pitching a VC: Why Financials Matter by Hornik Read: Discovery-Driven Planning by McGrath and MacMillan Prepare: Two slides summarizing the financial projections for your business. One slide should include revenue, revenue drivers, and net profit projections; the other slide should include funds needed, their use, and relevant timing. You will have 2-minutes to present your slides be prepared to explain and support key assumptions. Please submit your slides on Canvas 24 hours before class and bring a copy to class on a flash drive. Class 4: Structuring Your Presentation Deck Structuring your deck workshop Q&A Discussion Assignment due for Class 4: Watch: TED Talk from David Rose on Canvas or at: Review: Slide Deck Template provided in Class 3 Prepare: Adapting the template provided in Class 3, prepare a slide deck for a 5-minute presentation, incorporating the frameworks/strategies and feedback provided in class. At least one of the slides should summarize the financials. As a general guideline, you should target between 5-8 slides for a 5-minute pitch. Please post your deck on Canvas 24 hours before class and bring 4 copies of the deck with you to class.

4 Between Class 4 and 5: Required meeting with TA to prepare for final pitch Class 5: Final Pitch Present 5 minute investor pitch with Q&A Students will deliver final presentations in the classroom. Student presentations are divided between two classes ½ the class will present in Class 5 and the other half presents in Class 6. Please note: All students must attend Class 5 and Class 6. Assignment due for Class 5: Prepare: A 5-minute pitch of your business plan/idea. Structure your presentation along the lines of the investor presentation template reviewed in class, incorporating the feedback received in Class 4. As a general guideline, you should target between 5-8 slides for a 5-minute pitch. Before class, please submit your slide deck on Canvas and bring your deck to class on a flash drive. Be sure to have a well-organized structure coupled with strong delivery skills. Consider your audience to be a management member of a venture capital firm, an angel investor interested in your business, or an incubator/accelerator. As noted above, students are required to meet with the TA before this final pitch to review their slide deck and pitch. Class 6: Final Pitch Present 5 minute investor pitch with Q&A All remaining students will deliver final presentations in the classroom. Please note: All students must attend Class 5 and Class 6. Assignment due for Class 6: - same as Class 5 (see above). Before class, please submit your slide deck on Canvas and bring your deck to class on a flash drive.

5 Course Summary CLASS MAIN TOPICS ASSIGNMENT/ READINGS DUE POINTS 1 Framework/Best Practice for Successful Pitching Due Before Class 1: Business Summary Read: Kawasaki, Applegate, Wharton BPC 5 2 Presenting the Opportunity Read: Kawaski, Reynolds Submit: Revised Madlib Speech Due: 3 minute, 3 slide pitch Presenting Financials/ Structuring your presentation Structuring your visual communications/ deck workshop Read: Hornik, McGrath & MacMillan Due: 2 financial slides 10 Watch: David Rose Video Due: Slide deck 15 5 & 6 Investor Pitch with slide deck; responding to questions Speech Due: 5 minute pitch with deck 25 Class Participation 30 Total Points 100