OPMT 4438Week 1 – March 18th, 2013

http://www.wavefrontac.com/

http://vef.org/

http://gangplankhq.com/vision/

Course Approach

“There are no spoons, only danger!”

Pirate by Sincere Stock, CC by 2.0

Starting a new venture?• Who already has a business they are working on?• Who would like to start a business some day?• Good to have a “Plan B”

• It might end up being better than your Plan A• E.g. Procurify example

Building a killer team• Hacker• Hustler• Hipster

http://www.procurify.com/

http://www.techvibes.com/blog/growlab-announces-its-five-winter-2012-cohort-companies-2012-11-20

!!!!

http://www.nytimes.com/2008/01/13/business/13digi.html?pagewanted=all&_r=0

… another student grad that pursued his “Plan B”

Tax Implications of Sole ProprietorshipAre you really a business? You must have a “reasonable expectation of profit,” can’t be using business to create a lossYou must have good record keeping and a start date

• Revenue• $500

• Salary:• $40K• - 5K business loss• ====• $35K taxable income• $1500 tax refund

• Expenses• - cell phone• - Internet access• - part of your rent or mortgage interest

• - part of your car• - office supplies• - $10 /yr domain• - $70• - $5500

Make it count!• Why waste your time doing a fictional project when there

are opportunities in “real life”!• Developing a business model is a great way to see how

the business courses you are taking at BCIT tie together

Stephen Blank

http://uk.reuters.com/video/2012/05/02/steve-blank-on-entrepreneurship-part?videoId=234868221

Good to watch from 4 to 6 min. mark

Business analysts act as intermediaries betweenbusiness units and developers

Finance

Accounting

Human Resources

Marketing

DeveloperBusiness Analyst(MIS Major)

http://www.businessmodelgeneration.com/canvas