We had a big turnout of students at our first buying trip of the semester. The students bought all kinds of fashion earrings, necklaces, bracelets, wallets, etc. The weather was sunny and brisk as we toured the fashion accessory district of NYC.  We also stopped in to buy some supplies, bags and gift boxes for our jewelry. Thanks to all the students who picked out the merchandise you have a good eye. We begin selling on April 14, 2010 at 10 AM. Check out the videos on class website to see some of our previous selling days. Have a great break and see you in class on April 7th.

On Wednesday March 24th we will meet at Final Touch Jewelry at 29th and 6th avenue at 10 A.M. Please do not be late as we have a lot of ground to cover in the two hours allotted for the trip. Please e-mail me if you cannot make it.

Liebowitz Entrepreneur Program
Homework # 7 Mid Term Project
Due April 7, 2010

Dear Students,
I hope you have enjoyed our first half of the semester in which you heard from many speakers who have enlightened you with their inspiring entrepreneurial stories. You can always watch the video’s of the speakers again at our website.

Beginning April 14th I will be spending one-on-one time with each of you to review your business plan and future goals. We will be doing these reviews while your fellow students are selling at the kiosk on campus. At this time I am requesting that you let me know what times you are avail to work the kiosk. We will be selling on four days April 14, 21, 28 and May 5th, weather permitting. If it rains we go under the breezeway at Whitehead Hall. Please e-mail me and let me know whether you are going to work from 10-1 or 1-4 or if you have a special request due to a scheduling conflict.

Next week we have a buying trip and we meet at 10 AM in front of Final Touch Jewelry 54 West 29th street @ 6th Avenue. We will tour the fashion jewelry and accessory district and let you pick out merchandise that you will soon sell on campus. We will be done by 12 noon and everyone will go their separate way at that time.

Mid Term Project
Due April 7, 2010

Read chapters 7, 8 and 9 in the text book at the class website at: http://www.liebowitzentrepreneurprogram.org/textbook.html

Write a detailed business plan for your proposed business idea. You can get additional help online at the SBA: http://app1.sba.gov/training/sbabp/index.htm or by looking at various sites online. Another useful resource is “75 Startup Secrets published by Entrepreneur Magazine. You can find it at:
http://www.entrepreneur.com/magazine/entrepreneursstartupsmagazine/2006/march/83560.html#got

Some of you have not handed in all of your homework’s. Please take note that your homework’s make up a significant portion of your grade. Please hand them in ASAP. If you are missing any assignments please let me know.

Read chapter 6 in the text book at: http://www.liebowitzentrepreneurprogram.org

Part 1: Using the list of expenses at end of chapter 6 as a starting point, create your own list of expenses specific to the business you want to get into. If you do not yet have a particular business in mind, choose a business you might be interested in getting into. After you have listed all the start-up and recurring expenses pertinent to that business, estimate the costs of each expense, figuring the recurring expenses over the course of a year. Now add the list up. This is your best-guess estimate of the money you will need to capitalize your start-up. Yes, some of these expenses will be offset by income generated by the business, but there are bound to be unexpected expenses not covered on the list, and/or expenses for which you have underestimated the cost.

Extra Credit Current Events:
Read an article on entrepreneurship online from one of the sources here: http://www.liebowitzentrepreneurprogram.org/links.html
and summarize in three paragraphs or less what you learned from the article. Please put a link to the article you referenced.

Read chapter 5 in the text book at: http://www.liebowitzentrepreneurprogram.org

Part 1
List the particular strengths and talents that you, as a partner would bring to a business enterprise. Be broad in your view: List items as diverse as salesmanship, being detail-oriented, creativity, being good with numbers, being an idea person, being businesslike, an ability to think outside the box, inventiveness, being a good manager…traits specifically helpful to a business you might have in mind as well as traits that would come in handy in many businesses in general. Now list your weaknesses, and the traits that would be detrimental to your running a business successfully—the places in which a partner with complementary traits and skills would come in handy.

Part 2
You met Julie Levi today from Progressive Promotions. What promotional products do you think would work for you potential business enterprise?

Extra Credit Current Events:
Read an article on entrepreneurship online from one of the sources here:
http://www.liebowitzentrepreneurprogram.org/links.html
and summarize in three paragraphs or less what you learned from the article.
Please put a link to the article you referenced.

Please do not forget to bring back the “Gray Matters” DVD as I need for future classes. Also, bring to class homework assignments that you have not handed in. Home works count for 33% of your grade.

Next week we will hear from Alisa, Jack and Corine on their potential business opportunities. Remember you will have up to three minutes for your presentation.

Have a nice week!