You will see on the class schedule that you are also to identify two entrepreneurs. We're not there yet, so ignore that. But I would like you to identify and briefly profile for one of your blog entries an entrepreneur from any field. Just remember this needs to be an entrepreneur -- not someone who has signed on to an existing company, and not someone who has bought a business, and not someone who is opening a plumbing business or a used car lot. That's not entrepreneurship because the venture is not unique or original of necessarily risky or innovative. It will be someone like the razor blade guy, or whoever set up Zipcar, or something smaller, like a homemade cupcake van, or an app, or a website that sells beer glasses from every college in the world. There are several student entrepreneurs on campus. Ask around. Ask your parents. Ask your parents to ask their friends. Look in Linkedin. When you have found someone, which will be before the next class, contact the person and post a 100-word profile of this person on your blog. If you're not sure the person is appropriate, shoot me an email and I'll let you know.
3. You should do three other blog entries prior to class on whatever you choose, for a total of four for the week. Those should be 150 words or so. Ideas: the use of social networking to cover the situation in Syria; some cool websites you have found relating to entrepreneurial journalism; your thoughts about the complexity of opening something as simple as a lemonade stand; how your news habits are changing; an idea blog.
4. Wrap up the lemonade stand project. To do so, you and your team need to come up with the following.
Assume the lemonade stand will be open for 6 hours a day for 5 days. Figure out how many cups of lemonade you think you can sell in that amount of time and how much each cup will cost.
Based on the previous calculation, create a detailed list of all your expenses -- lemons, cups, sugar, straws, electricity, equipment such as heating pots, cart, etc.
Finally make a simple profit and loss statement. Here's an example.
Our lemonade stand
A simple profit and
loss statement
Revenues (money
coming in)
Net
sales: $100 (total of all cups sold at your price)
Other:
Total revenue: $100
Expenses (money going
out, from your detailed list)
Salaries $10
Utilities $2
Supplies $50
Debt
paydown $10 (you borrowed $500 from me)
Total operating
Expenses: $72
Net Income/loss: $28
(if this is a loss, put it in parentheses)
Print this and your detailed expense list and bring to class.
No comments:
Post a Comment