Where Business and Engineering Collide

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Published on October 29, 2007

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Where Business and Engineering Collide:  Where Business and Engineering Collide Entrepreneurship Resources Created by Megan Sapp Nelson, Asst. Professor of Library Science, Purdue University Libraries, 2007. All rights reserved. Objectives:  Objectives Identify information gathering steps to create a business plan Identify resources that will supply needed information Discuss how different types of information combine to create a business plan Identify Purdue University resources relevant to entrepreneurs What information is needed to create a business plan?:  What information is needed to create a business plan? Idea Prototype; Samples; Other Assets Location Foot or web traffic; Tax breaks; Fixed expenses; zoning laws Market Demographics of area; typical customer; Population of area; Need for service; Desire for service or product Competition What is your competition, nearby and online? What strengths does your business have? What opportunities? What weaknesses? What threats? Still more useful information:  Still more useful information Legal background – Protect your business by finding out what codes and legislation your business falls under. Government assistance – Does you business qualify for federal assistance or contracts? Financial information – How do you find investors and “angels”? Ethical considerations – Will the community accept your business? Are there additional steps you must take to act ethically (buy liquor license, receive training in CPR) etc? Entrepreneurship 101:  Entrepreneurship 101 So you’ve got an idea…. An entrepreneur is someone who comes up with an idea, and starts a business based on that idea. How do you begin the process of starting a business? The idea:  The idea Have the product designed Use articles (databases available here) to build technical background Design product or service Create a design drawing of the product Create a flow chart for service Create a parts or components list (including price) Use CatalogXpress to check parts catalogs from manufacturers around the country The idea:  The idea Is the idea patented by someone else already? http://www.uspto.gov or come to the Engineering Library where the librarians can help you run a subject search Have you proven your concept? Have a prototype built (for product) Locate machine job shops using Thomas Register of American Manufacturers on CD-Rom at Management Library or Engineering Library The Location:  The Location Where should you locate? City government – zoning laws and tax assistance Statistical Abstract of the United States Census Bureau Local Chambers of Commerce - Real estate costs; Tax information; Zoning laws Economic Development Corporations Your Market:  Your Market Who is your target market? Demographics of area from Census Bureau’s American Fact Finder Interviews with potential customers Interviews with owners of competing businesses – who is their typical customer Market Research Academic Local Economic Development Corporations State business statistics – Indiana Business Research Center State demographics - STATS Indiana Your Competition:  Your Competition Is this an industry or area that is growing in your loation? Nationally? Internationally? How much competition is there? The phone book The local Chamber of commerce Bureau of Labor Statistics Business & Industry database US Global Trade Outlook (MEL Gov Docs C61. 34/3) Trade associations for your industry Newspaper, Trade Magazine and Journal Articles Bizstats.com Legal Details:  Legal Details State codes and regulations – biz.in.gov Business Owner’s Guide to State Government An Entrepreneur’s Guide to Starting a Business in Indiana Federal Codes and Regulations Federal Code of Regulations OSHA Financial Information:  Financial Information Government assistance Small Business Administration Federal Business Opportunities Buy Indiana Angel investors Angel Capital Association Van Osnabrugge, M and Robinson, R (2000). Angel investing : matching startup funds with startup companies : the guide for entrepreneurs, individual investors, and venture capitalists. San Francisco, Jossey-Bass. Venture capital National Venture Capital Association Gladstone, D (2002). Venture Capital Handbook. Englewood Cliffs, NJ: Prentice Hall. Putting it all together – the Business Plan:  Putting it all together – the Business Plan Finding samples: Business Plans Handbook. (1995-) Detroit, MI: Gale Research, Inc. Business Plan Templates Entrepreneur.com Morebusiness.com Small Business Administration NEBS Business Plan Template Bplans.com Agricultural Innovation and Commercialization Center Purdue University Resources:  Purdue University Resources Purdue Extension Means Business http://www.ces.purdue.edu/extbusiness/stories/Start_Business.htm Small Business Development Program http://www.itap.purdue.edu/ipsp/partnership/sbdp.cfm IPFW Small Business Development Center http://www.ipfw.edu/bms/centers/default.shtml Entrepreneurship Education and Resources at Purdue http://innovate.ecn.purdue.edu/documents/entr_guide_final.pdf Office of Technology Commercialization http://innovate.ecn.purdue.edu/documents/entr_guide_final.pdf New Ventures http://www.agecon.purdue.edu/newventures/ Agriculture Innovation and Commericialization Center (includes automated business plan) https://www.agecon.purdue.edu/planner/ Any Questions?:  Any Questions? Contact Megan at msn@purdue.edu or 494-2871 Visit the Engineering Library at http://gemini.lib.purdue.edu/ENGRdatabases/index.cfm Visit the Management and Economics Library at http://www.lib.purdue.edu/mel/ Featured Resources:  Featured Resources The Idea Articles and Databases - http://gemini.lib.purdue.edu/eresource/selectcat.cfm Catalog Xpress - http://purl.lib.purdue.edu/db/db158 USPTO – http://www.uspto.gov Thomas Register of Manufacturers – on CD Rom at Engineering Library and Management and Economics Library Resources featured in this presentation:  Resources featured in this presentation The Location Statistical Abstract of the United States - http://www.census.gov/compendia/statab/ Census Bureau – http://www.census.gov Local Chambers of Commerce- Lafayette-West Lafayette Chamber of Commerce Economic Development Corporations- Greater Lafayette Progress Featured Resources :  Featured Resources Market Census Bureau’s American Fact Finder- http://factfinder.census.gov/ Market Research Academic- http://purl.lib.purdue.edu/db/mrc Economic Development Corporations http://www.glpi.org Indiana Business Research Center http://www.ibrc.indiana.edu/ Stats Indiana http://www.stats.indiana.edu/ Featured Resources :  Featured Resources Competition Local phone books Lafayette-West Lafayette Chamber of Commerce - http://www.lafayettechamber.com/ Bureau of Labor Statistics http://www.bls.gov/ Business and Industry Database http://purl.lib.purdue.edu/db/db241 US Global Trade Outlook - MEL Gov Docs C61. 34/3 Featured Resources :  Featured Resources Competition cont. Trade Associations Directory http://dir.yahoo.com/business_and_economy/organizations/trade_associations/ Article Databases http://www.lib.purdue.edu/eresources/ Bizstats.com Featured Resources :  Featured Resources Legal resources State resources http://www.biz.in.gov/ Business Owner’s Guide to State Government http://www.in.gov/sic/owners/index.html An Entrepreneur’s Guide to Starting a Business in Indiana http://www.in.gov/sos/business/corps/guide.html Federal resources Federal Code of Regulations http://www.gpoaccess.gov/cfr/index.html Occupational Health and Safety Administration http://www.osha.gov/ Featured Resources :  Featured Resources Financial Information Small Business Administration http://www.sba.gov/ Federal Business Opportunities http://www.fedbizopps.gov/ Buy Indiana http://www.in.gov/idoa/vendor.html Angel Capital Association http://www.angelcapitalassociation.org/ Van Osnabrugge, M and Robinson, R (2000). Angel investing : matching startup funds with startup companies : the guide for entrepreneurs, individual investors, and venture capitalists. San Francisco, Jossey-Bass. Featured Resources:  Featured Resources Venture capital National Venture Capital Association http://www.nvca.org/ Gladstone, D (2002). Venture Capital Handbook. Englewood Cliffs, NJ: Prentice Hall. Featured Resources:  Featured Resources Business Plans Business Plans Handbook. (1995-) Detroit, MI: Gale Research, Inc. Business Plan Templates Entrepreneur.com Morebusiness.com Small Business Administration http://www.sba.gov/starting_business/planning/writingplan.html NEBS Business Plan Template http://www.nebs.com/nebsEcat/business_tools/bptemplate/index.jsp?GXHC_JSESSIONID Bplans.com Agricultural Innovation and Commercialization Center https://www.agecon.purdue.edu/planner/

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