ENTREP 7048 - Advanced Venture Planning and Communications

North Terrace Campus - Trimester 1 - 2018

This course focuses on developing two core skills essential for entrepreneurship. The first is building a comprehensive new venture plan supported by an integrated pro-forma Cash Flow Statement, Income Statement and Balance Sheet. This is an essential skill necessary for preparing proposals for investors and other potential stakeholders. The second skill is to be able to present and communicate professional business plans in both written and verbal communication. Entrepreneurs are invariably under-resourced to undertake the new ventures they seek to create and hence communicating convincingly and confidently with investors, lead customers, partners and other key resource holders is often key to an entrepreneur's success. At the end of this course, a candidate will be able to: - Prepare an integrated financial forecasting model; - Incorporate a sensivity analysis within a proforma financial model identifying critical success factors for planning; - Design and prepare a business planning document including integrated financials; and - Prepare and pitch business proposals.

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Course Details

Course Code	ENTREP 7048
Course	Advanced Venture Planning and Communications
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Intensive. 36 - 40 hours
Available for Study Abroad and Exchange
Prerequisites	ENTREP 5016, ENTREP 5018 and 3 units of ENTREP elective
Corequisites	2 x 3 units of ENTREP electives
Assessment	Assignments

Course Staff

Course Coordinator: Professor Paul Steffens

Program Director Contact Details: Innovation and Entrepreneurship (PG)
Name: Prof Paul Steffens
Phone: +61 8 8313 7512
Email: paul.steffens@adelaide.edu.au

Teaching Staff
Name: Manjula Dissanayake
email: manjula.dissanayake@adelaide.edu.au

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

1. Design and prepare high impact strategic and business planning documents including integrated financials and critical success factors

2. Distinguish between various sources of finance and their relevance to different business types and business life cycles

3. Identify and examine what criteria financiers use to invest in businesses and earn an acceptable return on their investment

4. Design a presentation to the criteria that investors use when assessing pitches

5. Use a range of skills and tools to prepare and deliver a pitch of a business proposal

6. Develop and demonstrate business pitch, presentation and communication skills to an advanced level

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1,2,3,4,5,6
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1,2,3,4,5,6
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1,4,5,6
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1,3,4,5,6
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	1,5,6
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	1,3,4,5,6

Learning Resources

Required Resources

Required Textbook

1. Entrepreneurship Theory, Process, Practice
Authors: Frederic, Howard H.; O'Connor, Allan J.; Kuratko, Donald F.;
Edition: 3rd Asia-Pacific EditionPublisher: Cengage Leaning, South Melbourne, VIC, Australia
Year: 2013

Chapter 9: Assessment and commercialisation of entrepreneurial opportunities pp. 283 - 307
Chapter 11: Strategic entrepreneurial growth, pp. 365 - 375
Chapter 14: Sources of capital for entrepreneurial ventures, pp. 486 - 502
Chapter 15: Measuring performance for entrepreneurial ventures, pp. 519 - 52

Required Readings

2. Life's a Pitch: how to sell yourself and your brilliant ideas
Author:Bayley, Stephen; Mavity, Roger
Publisher: Transworld Publishers
Year: 2008
Chapter: Book 1

3. Brain Rules: 12 Principles for Surviving and Thriving at Work, Home and School
Author: Medina, John
Publisher: Pear Press
Year: 2008
Chapters 2, 4, 10

4. Raising Angel & Venture Capital Finance: An Entrepreneur's Guide To Securing Venture Finance
Author: Tom McKaskill
Publisher: Breakthrough Publications
Year: 2009
Chapter 4: Strategic vs financial ventures pp. 43 - 52
Chapter 5: A compelling investment opportunity, pp. 53 - 74
Chapter 6: Exit strategies, pp. 75 - 85
Chapter 8: Investor presentation techniques, pp.95 - 109
Chapter 9: Valuation, pp. 110 - 126

5. Entrepreneurship and Small Business
Authors: Schaper, Michael; Volery, Thierry; Weber, Paull; Gibson, Brian;
Edition: 4th Asia Pacific edition
Publisher: John Wiley & Sons Ltd
Year: 2014
Chapter 8: Preparing a business plan, pp. 180 - 190
Chapter10: Financing business ventures, pp. 244 - 260
Chapter 15: Financial information and management, pp. 370 - 385
Chapter 17: Managing growth and transition, pp. 443 - 447

6. Raising Entrepreneurial Capital
Authors: Vinturella, John; Ericson, Suzanne;
Publisher: Elsevier Inc
Year: 2013
Chapter 5: Valuation survey of methods, pp. 143 - 163
Chapter 6: Venture capital, pp. 175 - 192
Chapter 7: Exit strategies, pp. 211 - 226

7. A conceptualised investment model of crowdfunding
Published in: Venture Capital, 2013, Vol 15(4), pp. 335-359
Authors: Tomczak, Alan; Brem, Alexander
Subjects: Crowdfunding, Venture Capital, Entreprensurship, Fundraising
In: Venture Capital
Format: Article

8. New crowd-sourced equity funding regime explained
Published in: Company Director magazine, August 2017, Vol 33 Issue 07, pp 42-43
Author: Storey, Jill
Subjects: Crowdfunding
In: Company Director magazine
Format: Article
Year: 2017

9. Crowd sourced funding: the current regulatory framework and GST treatment
Published in: inTAX magazine, February 2015, pp. 14 -17
Author: Briggs, Andy
Subjects: Crowdfunding, Taxation
In: inTAX magazine
Format: Article

Recommended Resources

SUPPLEMENTAL READING

10. The Trusted Advisor
Author: Maister, David H.; Green, Charles H.; Galford, Robert M.;
Publisher: The Free Press
Year: 2000

11. Pitch Your Business Like A Pro
Author: Kwegyir, Victor
Publisher: ViccCor Publishing
Year: 2014

12. The development of business angel networks in Latin American countries: the case of Chile
Published in: Venture Capital, 2013, Vol 15(2), pp. 95 - 113
Authors: Romani, Gianni; Atienza, Miguel; Amoros, Jose Ernesto
Subjects: Investment Readiness, Informal Venture Capital, Chile, Business Angel Networks
In: Venture Capital
Format: Article
Good summary of business angels definitions and activities around the world

13. Typologies of bootstrap financing behaviour in small ventures
Published in: Venture Capital, 2014, Vol 16(1), pp 27 - 50
Authors: Malmstrom, MalinSubjects: Bootstrap Financing, Small Venture, Taxonomy, Strategies
In: Venture Capital
Format: Article
Explains methods of pursuing opportunities without using external debt or equity

14.How does entrepreneurial activity affect the supply of informal investors?
Published in: Venture Capital, 2010, Vol 12(1), pp. 21 - 47
Authors: Burke, Andrew; Hartog, Chantal; Van Stel, Andre; Suddle, Kashifa
Subjects: Informal Investment, Venture Capital, Entrepreneurship, Business AngelsIn: Venture Capital
Format: Article
Explains which type of people is likely to be formal or informal investor across many countries

15. Banking support for entrepreneurial new venturers: Towards greater mutual understanding
Published in: Journal of Small Business and Enterprise Development, 2013, Vol 20(2), pp. 420 - 433
Authors: Duric, Mark; McGowan, Pauric; Babb, CarlaSubjects: United Kingdom, Banks, Entrepreneurs, Relationships
In: Journal of Small Business and Enterprise Development
Format: Article
Good summary of difficulties facing small businesses in getting bank finance

16. Sense and sensibility: the role of business incubator client advisors in assisting high technology entrepreneurs to make sense of investment readiness status
Published in: Entrepreneurship & Regional Development, 2011, Vol 23(7-8), pp. 449 - 468
Authors: Mcadam, Maura; Marlow, SusanSubjects: Investment Readiness, Business Incubator, Venture Capital
In: Entrepreneurship and Regional Development
Format: Article
Information expectation gap between investors and entrepreneurs, business plans

17. The business plan as a project: an evaluation of its predictive capability for business success
Published in: The Services Industries Journal, 2012, Vol 32(15), pp. 2399 - 2420
Authors: Fernandez-Guerrero, Rafael; Revuelto-Taboada, Lorenzo: Simon-Moya, VirginiaSubjects: Business Plan, Entrepreneurship, New Ventures, SurvivalIn: The Services Industries Journal
Format: Article
Discusses various success factors for start up businesses, including business plans

18. Exploring the resource logic of student entrepreneurs
Published in: International Small Business Journal, 2012, Vol 30(6), pp. 659 - 683
Authors: Politis, Diamanto; Winborg, Joakim; Dahlstrand, Asa Lindholm
Subjects: Academic Entepreneurship, Bootstrapping, Effectuation, Institutional Theory
In: International Small Business Journal
Format: Article
Year: 2012
Discusses differences between funding start-ups by univeristy students compared to experienced entrepreneurs

19. Research journals
There are a range of journals where scholars publish their research including (list not definitive)
(a) Journal of Business Venturing
(b) Entrepreneurship Theory and Practice
(c) Journal of Small Business Management
(d) Academy of Management Review
(e) Journal of Small Business and Entrepreneurship(f) Venture Capital
(g) Small Business Economics

20. Useful websites include:
(a) www.business.gov.au
(b) www.avcal.com.au
(c) www.ukbusinessangelsassociation.org.uk

There is a broad range of materials that cover and complement many of the topic areas covered in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials.

Library Resources
The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. Access to the Library's electronic resources.

Online Learning

MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.

Learning & Teaching Modes

This course is offered in blended learning mode with the face-to-face component offered as intensives.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).

Learning Activities Summary

This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

Session	Content	Activities
1	A. Introduction B. Feedback on Pitch 1 C. Influential communication D. Trust based selling E. Elevator pitches F. Prepare and present Pitch 1A - a refinement of Pitch 1	Prior Preparation: A. Pitch 1: A 3 minute pitch based on your own business idea & upload to YouTube B. Watch videos from “Shark Tank” www.tenplay.com.au Group Activities: Peer review of Pitches 1 and 1A
2	A. Strategic plans B. Business plans C. Business life cycle D. Types of finance E. What do financiers want? F. Financial relationships G. Pitch 2 explanation H. Red River (assignment 1) explanation	Prior Preparation: Review calculation of Mamor Chocolates ratios Group Activities: Complete financial exercises Discussion and feedback with facilitator
3	A. Feedback on Red River (assignment 1) B. Present Pitch 2 C. Pitching a more detailed proposal D. Answering investor questions E. Dealing with challenges and objections F.Use of data shows ("pitch decks") G. Body language and other tools of persuasion and influence	Prior Preparation: A. Pitch 2: A 6 minute pitch based on your business idea
4	A. Venture capitalists & their requirements B. Valuation methods C. Exit strategies D. Financial modelling concepts E. Calculating investment required and investment return F. Pitch 3 explanation (assignment 2) G. Written business proposal explanation (assignment 3)	Group Activities: Complete financial exercises Discussion and feedback with facilitator

Small Group Discovery Experience

At various times during the four intensive days, students will work in small groups to discuss ideas, problem solve, plan application of key principles and reflect on lessons learnt from activities.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

An overview of the course assessment appears in the following Table. Details appear in the following section:

#	Assessment	Length	Weighting	Learning Outcomes
1	Case study	Max 1,250 words plus calculations	20%	1,2,3
2	Oral presentation of business proposal pitch	Max 10 minutes	40%	3,4,5,6
3	Written business proposal	Max 2,500 words plus numerical tables	30%	1,2,3,5,6
4	Course participation	Ongoing	10%	1,2,3,4,5,6
	Total		100%

Assessment Related Requirements

Students should attend and contribute to all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.

Course results are subject to moderation by the ECIC Board of Examiners

Assessment Detail

ASSESSMENT 1: Case Study - Individual assessment
Weighting: 20%
Task: Read case study on MyUni and answer case questions.

The assignment will need to demonstate appropriate use of references. Use the Harvard referencing system.

ASSESSMENT 2: Oral presentation - Individual assessment
Weighting: 40%
Task: Present your business idea to a panel of Venture Capitalists with the objective of convincing them to provide funding to your business.

ASSESSMENT 3: Written business proposal - Individual assessment
Weighting: 30%
Task: Prepare a business proposal that will convince a venture capitalist to finance your business idea. The proposal should include a business plan and integrated financials. The proposal should also support your oral presentation completed as Assessment 2.

The assignment will need to demonstate appropriate use of references. Use the Harvard referencing system.

ASSESSMENT 4: Class Participation - Individual assessment
Weighting: 10%
Task:
(a) Submission of Pitch 1.
(b) Part of your assessment is based on your participation in the class activities and discussion during the four days of course intensives.

Submission

All text based assignments must be submitted via MyUni.
Please refer to step by step instructions: MyUni Learning Centre

There are a few points to note about the submission of assignments:

Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work. Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
Backup Copy of Assignments: You are advised to keep a copy of your assignments in case the submitted copy goes missing. Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
Extensions of Time: An application for Assessment Extension should be made well before the due date of the assignment to the Course Lecturer. Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date. Extensions will only be granted in cases of genuine medical, compassionate or extenuating circumstances.
Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade. Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

Resubmission & Remarking
Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted. Approval for resubmission will only be granted on medical or compassionate grounds.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator