New Business Venture
Timeline
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January 23, 2023Experience start
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January 31, 2023Project Scope Meeting
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May 2, 2023Experience end
Timeline
-
January 23, 2023Experience start
-
January 31, 2023Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
May 2, 2023Experience end
Experience scope
Categories
Market research Market expansion Product or service launchSkills
competitive analysis business strategy researchLooking to elevate your organization, and bring it to the next level? Bring on students from Northern Michigan University to be your student-consultants, in a project-based experience. Students will work on one main project over the course of the semester, connecting with you as needed with virtual communication tools.
Students will be writing Business Model Canvases. The class will take a start-up business, do some industry research, and do a business plan which will then be transferred over to a Business Model Canvas. They will be using a LEAN canvas which focuses more on the customer rather than the product, but they are very similar. The company will get a business model for their product. Depending on how the company goes to market might determine if they will get a couple of business models.
Students
Deliverables are negotiable, and will seek to align the needs of the students and the organization.
Some final project deliverables might include:
1. An analysis of which business model will be best suited for their new or existing innovation.
2. A PESTLE and a SWOT analysis in addition to a determination of which model is best suited (Each block within the BMC will be thoroughly explained).
Project timeline
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January 23, 2023Experience start
-
January 31, 2023Project Scope Meeting
-
May 2, 2023Experience end
Timeline
-
January 23, 2023Experience start
-
January 31, 2023Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
May 2, 2023Experience end
Project Examples
Requirements
Students in groups of 3-5 will work with your company to identify your needs and provide actionable recommendations, based on their in-depth research and analysis.
Last year students created business models for businesses that included a snow shoe company, a wheelchair locking device, a particle separator, a new roofing material, a packaging-less grocery store, and an app. In addition to the business model, the company will get three proformas: cash flow, income statement, and balance sheet, and perhaps start-up costs. A business model canvas is a one-page snapshot of a full-blown marketing plan. The work level will be the same. The financials will not be as thorough as a professional will do but they will attempt to make sense of the financials.
Additional company criteria
Companies must answer the following questions to submit a match request to this experience:
Additional company criteria
Companies must answer the following questions to submit a match request to this experience:
Timeline
-
January 23, 2023Experience start
-
January 31, 2023Project Scope Meeting
-
May 2, 2023Experience end
Timeline
-
January 23, 2023Experience start
-
January 31, 2023Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
May 2, 2023Experience end