While being a successful entrepreneur is highly rewarding, starting and running a business can also be overwhelming, emotionally draining and financially risky. The difference between success and failure often lies in the ability to create a logical plan, mitigate risk, minimize mistakes, and build a strong support system. The Rutgers Mini MBA™: Entrepreneurship focuses on these key elements of business success. Taught by both Rutgers faculty and seasoned entrepreneurs, the coursework combines the theory of traditional MBA programs with the real-world entrepreneurial training needed to lead a business venture to success. The goal is for participants to leave the class ready to take their business to the next level. Each participant is expected to create an actionable business plan and make a presentation to an investor panel as a final project. The program fee includes an Apple® iPad™ 3, containing the pre-loaded program materials, for each participant.
This program has been approved by the New Jersey Department of Labor for workforce training grants. Funding may be available for those receiving unemployment benefits. Contact us for more information.
The Mini MBA™, Entrepreneurship is a certificate program designed for:
- Entrepreneurs interested in taking their business to the next level
- Entrepreneurs who need to be better positioned to raise capital
- Entrepreneurs who want to learn best practices in management, finance, marketing, and strategic planning
- Non-profit leaders who want to learn how to use for-profit strategies to promote their cause
- Corporate employees with an entrepreneurial spirit who want to develop new corporate strategies and opportunities
- Aspiring entrepreneurs, including graduate students, and professionals interested in a career change
This Mini MBA™: Entrepreneurship program will enable participants to:
- Evaluate new venture opportunities
- Identify, quantify, and articulate the market opportunity
- Write a compelling and thorough business plan
- Communicate the value proposition to potential investors
- Use financial data to make better management decisions
- Develop a network of executive mentors
- Meet potential investors
Mini-MBA: Entrepreneurship Module Descriptions
Business Ownership & Successful Business Plans
This module develops a framework for understanding the entrepreneurial process. Here we explore the
challenges, problems, and issues faced by entrepreneurs who start new businesses. During the course students will learn to identify and evaluate business opportunities, develop business concepts, assess and obtain the required resources, market themselves, negotiate, and write a business plan. Forms of business ownership (LLCs, Corporations, etc.), fundamental entrepreneurial questions, critical risks, as well as business plan best practices will be covered here.
Industry Strategy & Analysis
Topics covered include:
- Discussion of how to do an industry overview and Analysis: Porter, and PEST analysis – links to cash flow and risk
- Examination of the industry supply-‐chain structure
- Google search for existing products in the product market space: Advanced search techniques
- Understanding the key drivers of Gross Margin and Profitability
- Understanding the key industry success factors, and supply-‐chain bottle necks
- Industry trends and product market strategy
Product Positioning & Strategic Marketing
Topics include:
- Comparative Analysis: SWOT analysis, Analysts Forecasts and analysis, What are YOUR advantages? How might you design a strategy that leverages your advantages and navigates around your competitor's advantages?, Top down approach – for early stage technologies, Product and Distribution plan and the establishment of an efficient Supply-Chain
- Marketing Analysis: Price– strategic determinants of the selling price of the product or service, Product (or service)– what you are designing, developing, manufacturing, providing and selling, Place (or channel strategy)– which channels you are using to sell your product or services (e.g. are you selling direct to customers over the Internet or are you selling through a retailer or other third party), Promotion – what methods are you using to communicate what it is that you do to your market? This includes packaging, sales, brochures, exhibitions, advertising, direct mail, Internet marketing etc
Intro to Digital & Social Media Marketing
Topics include:
- Digital Marketing best practices: Keywords, PPC & Banner advertising, Google, Bing & Yahoo, Search Engine Optimization (SEO)
- How to successful leverage social media to grow your business: Facebook, Google Plus, Twitter, Slideshare, Blogs; What to do and not do
Financial Statement Analysis
Topics include:
- Understanding the balance sheet, income statement and cash flow statement.
- Learn how these three statements are interconnected and the idiosyncrasies common to each.
- The concept of book value versus market value will also be introduced as it relates to the financial statement analysis.
Business Law
Highlights from business law topics such as:
- Discussion of the legal environments of business; contracts—their formation, operation, and discharge
- Sales—property, both real and personal
- Negotiable instruments, agency, partnerships, corporations, secured transaction, and bankruptcy
Performance Selling
How do you get to revenue? Once there how do you drive revenue growth? Learning how to successfully sell is imperative to entrepreneurial success. This module teaches you the skills you need to sell your vision and product(s) to investors, future employees and customers.
Negotiations
As an entrepreneur you negotiate every day. Here we teach you the skills you need to get better outcomes. Examines major concepts, theories, and processes of negotiation; analyzes the dynamics of interpersonal and intergroup and its resolution; explores the structural (e.g., parities, position, interests) and process-‐oriented dynamics that occur during the negotiation process.
Entrepreneurial Financing & Valuation / Pitching for Success
Topics include:
- New Venture Financing: Phase I, II, IIb, III, IV; Bootstrapping, Angels, Venture Capitalists, Preferred Stock
- Valuation – what is my business worth? Comparable / multiples valuation, EV/EBITDA, Present value concept
- Pitching for Success, how to create and deliver a high quality investors pitches
