EPIC STORY & THE HERO=92S JOURNEY IN ARTISTIC ENTREPRENEURSHIP & TECHNOLOGY 101 Class Syllabus, Dr. Elliot McGucken Pepperdine University, Spring 2007 email: drelliot@gmail.com cell: 919-270-0732 http://artsentrepreneurship.com http://herosjourneyentrepreneurship.org http://45surf.com Teresea Ciulla of Entrepreneur Magazine writes, "Can you actually make your passion your profession? According to Dr. Elliot McGucken, a professor at the University of North Carolina, Chapel Hill, who's teaching the university's first "Artistic Entrepreneurship & Technology 101" class, the answer just may be yes. McGucken's class, which is comprised of a group of 45 students majoring in law, business, art, computer science, journalism and music, focuses on teaching students about creating value over just making money, about letting their higher ideals guide the bottom line. After all, as McGucken says, "Successful companies aren't successful because they make money=97they're successful because they create value." Class projects range from a classical music video to a hip hop curriculum and textbook to an online art gallery to a freshman's record label that's signed more than ten bands to a social network being programmed by three computer science majors. Students are seeing that to the degree they succeed in creating useful art and ventures, they'll be able to support their passions with a profitable business. . .Looks like McGucken's found a way to inspire a new generation of artistically minded entrepreneurs to follow their passions=97and make a living.=94 Class Structure: AE&T will be based upon the stages of Joseph Campbell=92s Hero with a Thousand Faces. Every entrepreneurial venture has an Aristotlean three-act structure with a beginning, middle, and end; and every aspect of classical story, including the call to adventure, crossing the threshold, antagonists, mentors, reversals of fortune, the seizing of the sword from the stone, and the return on home, may be found in the realm of entrepreneurship and the life of entrepreneurs. Every class will begin with a general lecture, followed by a =93closeup=94 lecture focusing on case studies or specific verticals, followed by class participation and presentations. Visiting speakers will join us from time to time. Class Texts: Dr. E will provide excerpts form his forthcoming books, Artistic Entrepreneurship & Technology 101 and Hero=92s Journey Entrepreneurship. John Bogle=92s Battle for the Soul of Capitalism and Joseph Campbell=92s Hero with a Thousand Faces, Nolo=92s Patents, Trademarks, and Copyrights, and the Rich Dad=92s Own Your Own Corporation are also required. Class Mentors: Students will seek out and study both classical and contemporary mentors. Fundamental Class Concept: IDEALS ARE REAL: The same ideals which guide higher art also guide business and law=97ideals will be your most valuable asset on this journey. Artistic entrepreneurs create both monetary and spiritual wealth by following ideals. Class Multimedia: The class will focus heavily on live technology demos including ecommerce, video game technologies, digital rights management, social networks, digital production and distribution, videos, and more. Student Deliverables: An independent project will be the focus for each student. Each student will research and deliver a full business plan (15+ pages), and operating venture, work of art, collection, or production. The theme will be manifesting a single idea in multiple mediums, including web pages, blogs, and wikis. Students can work in groups up to three members, and each group will be responsible for several presentations, including a final twenty minute presentation at the semester=92s end. Student Blog: Every student will blog their journey, including resources, reflections, and insights. Reserve Readings: Art: Aristotle=92s Poetics by Aristotle Aristotle=92s Poetics for Screenwriters, by Michael Tierno The Ultimate Writer=92s Guide to Hollywood, Skip Press The Hero with a Thousand Faces, by Joseph Campbell The Sacred Romance, by Jonathan Eldredge Story by Robert McKee Screenwriting is Storytelling by Kate Wright The Writer's Journey, Second Edition : Mythic Structure for Writers (Paperback) by Christopher Vogler Law: The United States Constitution Patent it Yourself, Bill Pressman (nolo.com) Free Culture: How Big Media Uses Technology and the Law to Lock Down Culture and Control Creativity, by Larry Lessig Nolo.com Business/Entrepreneurship: Think and Grow Rich, by Napoleon Hill The Warren Buffett Way, by Bill Miller The Art of the Start, Guy Kawasaki The Big Picture : The New Logic of Money and Power in Hollywood by Edward Jay Epstein Own Your Own Corporation: by Garrett Sutton, Robert T. Kiyosaki, Ann Blackman Classics: The Western Canon by Harold Bloom Shakespeare The Inferno, Dante The Odyssey, Homer The Bible Biography: Benjamin Franklin=92s Autobiography Losing My Virginity : How I've Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson iCon: Steve Jobs : The Greatest Second Act in the History of Business by Jeffrey S. Young, William L. Simon Technology: Slashdot.org Economics: The Wealth of Nations, Adam Smith The Road to Serfdom, F.A. Hayek A Theory of Money and Credit: Ludwig von Mises Web Resources: wikientrepreneur.org artsbusinesstech.com/forum artsentrepreneurship.com nolo.com, uspto.gov, slashdot.org, gamasutra.com, variety.com libertyfilmfestival.com/libertas, afrfilmfestival.com Welcome to the Hero=92s Journey Welcome to The Hero=92s Journey in Artistic Entrepreneurship & Technology 101. The center and circumference of the class will be an independent project in which you will follow Joseph Campbell=92s Hero=92s Journey in studying an entrepreneurial venture. Both the class structure and your final presentation will be based upon the Hero=92s Journey outlined below. The final presentation will be delivered in the form of a paper, a blog, and a wiki webpage. The venture for your class project can be one of your own creation, or you can choose to study established artistic ventures such as Walden Media, Electronic Arts, Youtube, Apple, Google, or Napster. Or you can focus upon innovative, entrepreneurial projects within larger companies such as the iPod, flickr, yahoo TV. The lives of entrepreneurs such as Steven Jobs, Mel Gibson, or Richard Branson would also make excellent projects as the entrepreneur=92s life parallel=92s the hero=92s journey. Take advantage of our close proximity to Hollywood=97seek out mentorship and advice from people in the industry =97always be polite and grateful. No matter the venture, the final paper should address the following stages and aspects of your chosen topic in the context of Jospeh Campbell=92s Hero=92s Journey: 1. Ordinary World 2. Call to Adventure 3. Refusal of the Call 4. Meeting With the Mentor 5. Crossing the First Threshold 6. Tests, Allies, Enemies 7. Approach 8. Supreme Ordeal 9. Reward 10. The Road Back 11. Resurrection 12. Return With the Elixir An alternative form of Campbell=92s Hero=92s Journey is as follows: 1.1 Departure (or Separation): Taking that first step--blog your vision. 1.1.1 The Call to Adventure: Artistic passions & dreams 1.1.2 Refusal of the Call: Is it practical? 1.1.3 Supernatural Aid: Use the force, Luke. The harder you work, the luckier you get. 1.1.4 The Crossing of the First Threshold: Business structures / market research 1.1.5 The Belly of the Whale: The business plan, raising funds, intellectual property 1.2 Initiation: Building the team, incorporating, setting out 1.2.1 The Road of Trials: Striving toward profitability 1.2.2 The Meeting with the Goddess: First customers! Early success! 1.2.3 Temptation: Shifting marketplaces. 1.2.4 Atonement with the Father: Competing or collaborating with the big guys 1.2.5 Apotheosis: Realizing the core business. 1.2.6 The Ultimate Boon: Newfound business acumen! 1.3 Return: Exit Strategy 1.3.1 Refusal of the Return: Don't lose site of the core business! 1.3.2 The Magic Flight: Exit strategy! IPO or selling the company! 1.3.3 Rescue from Without: When business competition is your best friend. 1.3.4 The Crossing of the Return Threshold: The venture is a success. 1.3.5 Master of Two Worlds: The entrepreneur knows what it takes now, can do it again. 1.3.6 Freedom to Live: Financial freedom to pursue further ventures/ dreams. THE HERO=92S JOURNEY IN ARTISTIC ENTREPRENEURSHIP & TECHNOLOGY 101 SYLLABUS CLASS # 1 JOSEPH CAMPBELL THEME: THE ORDINARY WORLD What is the state of the industry? Where lie the opportunities in artistic entrepreneurship & technology? The decline of the Hollywood box office and classic storytelling on Wall street and Main Street, in academia, publishing, and the movies. Lecture: Dr. McGucken presents a birds-eye view of several industries/ technologies including digital rights management, video gaming, Hollywood, NY publishing, tying them all to the classics and Epic Story. Web Readings: Variety.com, Gamasutra.com, Slashdot.org=97these should be checked every day=97slashdot.org regularly links to leading articles in all areas of business and technology. Readings (assigned in class): Story, by Robert Mckee / Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Assignment: Start a blog at blogger.com or anywhere else. The first post should be general overview of your project. Post two posts on the forum per class. http://wikientrepreneur.org/entrepreneurshipforums. Note that your posts are counted. Forum: Describe the =93ordinary world=94=97the state of the art=97in the re= alm of your chosen venture. Wikientrepreneur.org project: to be discussed in class. CLASS # 2 JOSEPH CAMPBELL THEME: THE CALL TO ADVENTURE IDEALS ARE REAL: The same ideals which guide higher art also guide business and law=97ideals will be your most valuable asset on this journey. Ideals will be your light saber and One Ring. Lecture: Dr. McGucken=92s DVD: Welcome to Artistic Entrepreneurship & Technology 101, featuring Emmy-award-winning Kate Wright on Storytelling (UCLA conference), singer/ songwriter Vaughan Penn (Laguna Beach, Dawson=92s Creek, Providence) and lead level designer at Epic Games (Unreal Tournament, Gears of War) on the future of Hollywood and game development tools at the e3expo.com in LA. Artistic Entrepreneurship is high adventure. The Fundamental Laws underlying AE: The Congress shall have Power to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries; =97The United States Constitution, Section 8, Clause 8 Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances. =96The United States Constitution, Bill of Rights, First Amendment Assignment: Start a blog at blogger.com or anywhere else. Start blogging your venture=92s journey. You will link to books, websites, mentors, and friends throughout the class. Sign up for google adwords and place them on your blog! You are now making money off your passions=97you are an artistic entrepreneur. So often it is that our stories of following our dreams become of use to others. Your blogged journey will become a map for others. Synthesize your venture=97you will give a one minute =93logline=94 presentation in the next class, to facilitate the forming of groups. Rock your dreams! Readings: Steven Jobs Stanford Commencement Speech=97=93You=92ve gotta do what you love.=94 Slashdot.org, ArsTechnica, Own Your Own Corporation (Rich Dad Poor Dad Series), Richard Branson=92s Bio, Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Excerpts from Dr. McGucken=92s textbook, The Hero=92s Journey in Artistic Entrepreneurship & Technology 101 Forum: Characterize your call to adventure=97how do you hope to make things better? Wikientrepreneur.org project: to be discussed in class. CLASSES # 3, 4 JOSEPH CAMPBELL THEME: SEPARATION, EMBARKING ON THE JOURNEY Lecture: 1) The new digital landscape. Dr. McGucken gives a bird=92s eye view of digital technologies for different artistic verticals, including music, movies, photography, gaming, publishing, and more. A multi-media presentation will cover digital production and distribution. We=92ll surf on by sites including opensourcecms.com, phpscripts.com, epicgames.com, microsoft drm, 22surf.org, and authena.org, nolo.com, uspto.gov. 2) Dr. McGucken combines Joseph Campbell=92s mythology with traditional business plan structure. Treat your business plan as an Epic Story! Every good story, and every business, has a beginning, middle, and end. Every good story, and every business, has its protagonists and antagonists, its triumphs and failures, its romance, comedy, adventure, and definitive end goal or exit strategy. You will write your own feature length movie as you live your dream. Everyone will fill out the following chart for the next class. Business Plan Artistic Plan * Executive summary / explains the basic business model / gives rationale for the strategy * The call to adventure. The inciting incident. The distant dream. * Background / gives short history of company / provides background details such as: + fundamental vision + unique intellectual property + coporate structure # sole proprietor # partnership # entrepreneurial startup # private corporate startup # publicly traded corp. # limited liability company # public utility # Non Profit Organization / background of key personnel + owners + senior managers + head scientists/ researchers * Back story All classic stories, such as Hamlet and the Odyssey, begin in the middle. Hamlet=92s father has been murdered, and Odysseus has finished fighting the war=97he only wants to get on home. Dante=92s Inferno begins with the words, =93Halfway through my life I awoke in the dark woods.=94 And so too do all great businesses begin in the middle. You=92ve had your dream for awhile, you=92ve been honing your unique skills and talents. You=92ve been building your network of friends and mentors. And now it is time to venture forth with the appropriate business structure. Launching The Venture Domain names: 1and1.com, godaddy.com Incorporation: Bizfilings.com Employee Identification Number: Bizfilings.com Intellectual Property: uspto.gov Technology: Opensoucrecms.com, openipmp.com Marketging: search engine optimization, social networks, myspace.com, facebook.com Crossing The Threshold It is time to cross the threshold and choose a business structure based on your vision and unique intellectual property. Register a domain. Your Team / assign responsibilities / training required / skills required / union issues / compensation / skills availability / new hiring Solidify Your Fellowship It takes a team. Frodo would have never gotten the ring to modor without Aragon, Sam, Gandalf, Merry, and Pippin. Where would Branson and Jobs be without their peeps? The World Beyond / the macroenvironment / the competitive environment / the industry / the customers priorities / product strategy / pricing strategy / promotion strategy / distribution strategy The World Beyond It=92s different out here. You=92ve got to serve the market=97the dream alone, without execution, has little value. But execution without the dream=97without ideals=97has no value. Out here you=92ve got to make your way by marketing and defining your brand. *Meeting With the Mentor Whether your mentor is classical or contemporary, whether they are Aristotle or Trump or a professor or local business leader, you=92ve got to meet with them regularly. Meeting With the Mentor All classical mentors empower you with knowledge=97with ideals. Obe Wan Kenobe taught Luke the ways of the force=97an abstract ideal. Ideals are your One Ring and light saber on this journey. The art, to business, to law, ideals will guide you safely in all your decisions. Production/Digital Technology / describe all processes / outline server setups/scalability / production facility requirements - size, layout, capacity, location / inventory requirements - raw materials inventory, finished goods inventory, / warehouse space requirements / equipment requirements / supply chain requirements / fixed cost allocation The Physical Journey All great movies have an inherently real physical setting. We loved the Millenium Falcon because it was fast, but also because it looked like a beat up piece of junk=97a =93bucket of bolts.=94 All businesses succeed because the Fellowship is willing to get their hands dirty. It=92s no longer a lofty business plan=97the ideals still guide us, but Frodo has got to get up the side of Mordor. And when he falls, Sam=92s got to carry him. It=92s hard, grueling work, but it=92s go= t to be done to reach your distant dream. You=92ve got to focus on your venture=92s physical reality. From a caf=E9 to a gallery to an online gallery, you=92ve got to rock the physical details! * Finance / source of funds / existing loans and liabilities / projected sales and costs / break even analysis / expected return / monthly pro-forma cash flow statement * The Meeting With the Goddess Dante had Beatrice to guide him. Frodo had Galadriel. And so too the bottom line must always be guided by the higher ideals. Dante had to be honest before Beatrice, and Frodo had to be honest before Galadriel, as both Goddesses saw all. And so too do you have to be honest when it comes to finances=97if you=92re not making money, your venture is not providing as good a service as it could be. Numbers don=92t lie. Facing the Antagonist Every business must face and overcome those forces which oppose it. It could be a competitor or many competitors. It could be a race against time to get to market first. It could simply be overcoming self-imposed, internal obstacles. But no matter what, you=92ve got to face and defeat the antagonist. Facing the Antagonist Imagine if Luke Skywalker never destroyed the Death Star, and went off and become a lawyer instead. Exit Strategy Every business has a beginning, middle, and end. Nobody is going to invest in it if there is no definitive end in site. The Return On Home Hollywood movies often end with rewards ceremonies back home=97Star Wars & Lord of the Rings=97and weddings=97just about every other movie. You get to write your business, so be sure to script a happy ending, retired on your favorite beach! Class Participation: Each student will give a one minute presentation regarding their vision. Dr. McGucken and the rest of the class will match each vision with the appropriate technology. Assignments: 1) Blog about the technology you will use for your venture. It can range from a simple web page to writing a proprietary application. 2) Fill out both columns of the above chart, mixing and matching art and business. You will flesh it out and it will become your 20 page business plan. Reading: Go to the library or a bookstore and browse through the books covering your chosen artistic pursuit=97browse the arts, technology, business, and law sections. Surf the net and blog the best books and resources you find. Remember to blog your readings!! Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey Suggested Websites: opensourcecms.com, phpscripts.com, epicgames.com, microsoft drm, 22surf.org, and authena.org, nolo.com, uspto.gov. Suggested Books: Own Your Own Corporation, Small Time Operator, Nolo=92s Patent it Yourself, Nolo=92s Copyright, Patent, and Trademark Law, Nolo=92s Small Business Legal Forms, or any other nolo book. Forum/Blog: What are the first definitive steps of your venture? Wikientrepreneur.org project: to be discussed in class. CLASSES # 5, 6 JOSEPH CAMPBELL THEMES: MEETING YOUR MENTOR Lecture: Dr. McGucken on the all-encompassing importance of the arts in business and culture. Artists and entrepreneurs are culture=92s mentors. From Aristotle=92s Poetics to Dante=92s Inferno to Lord of The Rings, the artistic entrepreneur must carry culture higher. The classics define the most enduring brands=97the higher ideals must always lead the bottom line. Value derives from values. The Great Books & Classics contain the enduring ideals that can benefit every single business or venture, be it legal, artistic, technological, or any combination thereof. Class: Class will present their groups, along with a one-minute logline of their group=92s projects.. Assignment:. Groups must cross-link blogs. Choose five mentors, at least two classical and two contemporary, and start blogging about them. Classical mentors could be Aristotle, Benjamin Franklin, an Martin Luther King Jr. Contemporary mentors could include Russell Simmons, Richard Branson, 50 cent, Eminem, Steven Jobs, or a professor or local business leader. You will study your mentors! Find inspirational quotes reflecting Ideals harbored by your mentor, and use them in writing your business plan. Reading: Aristotle=92s Poetics (online) Joseph Campbell=92s Hero With a Thousand Faces Donald Trump on Art & Business (online) Buy or borrow the biography of a contemporary mentor=97Jobs, Branson, 50 cent, Eminem, Shakespeare, Simmons. Read, read, read! Closeup: Joseph Campbell=92s Hero=92s Journey in art, technology, and busines. Class discussion regarding common themes and ideals in favorite movies and business leaders. Art arises from ideals and law descends from ideals. Ideals lead all successful business and technology ventures. Wikientrepreneur.org project: to be discussed in class. CLASSES # 7, 8 JOSEPH CAMPBELL THEMES: Refusal of the Call. Supernatural Aid AE AIN=92T EASY=97YOU GOTTA ROCK: TECHNOLOGY: SURFING WAVES OF INNOVATION Lecture: 1) Refusal of the call: art and entrepreneurship are not easy. It=92s true what your parents told you=97being a doctor or lawyer are most likely much more secure jobs. Out here you=92re going to have to work hard, think on your feet, and create! You can learn to be a doctor, or a lawyer, but nobody can teach you to rock. Study your mentors=97 always learn from other=92s mistakes, as life is too short to learn only from your own. But in these times of job insecurity and vanishing pensions, and with the revolutions in technology, investing in yourself=97in your passions and dreams, can pay off!! Living your dreams is payment in and of itself. Value comes from values. The higher ideals inspire the bottom line. 2) Supernatural Aid: TECHNOLOGY Dr. McGucken on all the cutting edge revolutions in technology, from Open Source content management systems (CMS) to proprietary digital rights management (DRM), Dr. McGucken has been there, and he=92ll be covering the best approaches for different scenarios. Live class participation as Dr. McGucken discusses best technology for class=92s Assignment: Choose your technology and blog it! Readings: Slashdot.org opensourcecms.com phpscripts.com digerati.com gamasutra.com Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Forum/Blog: Who are your mentors? Wikientrepreneur.org project: to be discussed in class. CLASSES # 9, 10 JOSEPH CAMPBELL THEMES: Crossing the Threshold, The Belly of the Whale LAW: BUSINESS STRUCTURES: INTELLECTUAL PROPERTY Lecture: 1) Dr. McGucken covers corporate structure and history of incorporation. LLC vs. C-corp vs. S-corp. Liability and tax considerations for businesses. Proper businesses structures for lifestyle businesses vs. businesses seeking loans and venture capital. 2) Dr. McGucken on Copyright, Trademark, and Patent Law. Dr. McGucken traces how one idea became the novel and screenplay Autumn Rangers protected by copyright law, a fashion brand protected by trademark law, and a video game protected by patent law. All IP laws descend from same clause in the Constitution. Founding fathers, Mark Twain, and Larry Lessig on copyright law. Assignment: Choose the appropriate business structure and blog it. Blog all intellectual property considerations for your venture. Think of those entities that make you unique which can be protected with patent, copyright, and trademark=97these are the very same entities from where your value will derive. Reading: Own Your Own Corporation Lessig: Free Culture Patent It Yourself Nolo.com Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Forum/Blog: What legal structures will you be using for your venture? What intellectual property marks your venture as unique? Is it protected by patents, copyrights, or trademarks? Wikientrepreneur.org project: to be discussed in class. CLASS # 11 JOSEPH CAMPBELL THEMES: Initiation, Road of Trials, Meeting the Goddess NO TURNING BACK. IMPORTANCE OF PASSION/TRUTH/BEAUTY Lecture: Dr. McGucken on the trials of so many major artists and entrepreneurs. Dante in exile, Melville forgotten, Branson & Trump almost Bankrupt, Jobs fired from his own company!! Dante pens greatest poem ever, Melville pens greatest American novel, Branson & Trump rebound, and Jobs returns on home to save Apple again, reinventing it with the Macintosh and the iPod! It=92s their passion that never fails=97sometimes life falls short, but the passion for higher ideals keeps the artist and entrepreneur going. Ideals are Real! Forum/Blog: What are the greatest impediments or barriers to your venture=92s success? CLASS # 12 Lecture: Dr. McGucken briefly reviews the fundamental outline of the business plan. Class: Each group=92s first five minute presentation. Brevity is the soul of wit. If you can=92t pitch it in an elevator, it ain=92t worth the pitch! Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Forum/Blog: share your five minute pitch in as concise a form as possible. CLASSES #13, 14 JOSEPH CAMPBELL THEMES: Temptation. Atonement with the Father ALL THAT GLITTERS IS NOT GOLD. THE IMPORTANCE OF IDEALS=97STICKING BY YOUR GUNS=97VALUE COMES FROM VALUES, NOT MONEY. Lecture: Job=92s wrong turn with the Next. Apple=92s wrong turn with the Newton. The dot com boom and bust. Branson=92s & Trump=92s near bankruptcies. The importance of classical values=97do not be tempted by the fleeting. Warren Buffett invests for eternity. =93I am not an investor=97I am an artist.=94 =96Warren Buffett Forum: What roads must your venture be sure to avoid? Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Wikientrepreneur.org project: to be discussed in class. CLASS #15 JOSEPH CAMPBELL THEMES: Apotheosis The Ultimate Boon SEARCHING YOUR SOUL FOR THAT UNIQUE IDEA=97THAT COPYRIGHT, PATENT, OR TRADEMARK THAT IS THE KEY TO YOUR VENTURE=97THE TIPPING POINT Lecture: Uniqueness or =93being different=94 can seem a disadvantage when you try to make it at first. Turn that uniqueness into your advantage. You are you. The best way to predict the future is to create it. apotheosis \uh-pah-thee-OH-sis; ap-uh-THEE-uh-sis\, noun plural apotheoses \-seez\: 1. Elevation to divine rank or stature; deification. 2. An exalted or glorified example; a model of excellence or perfection of a kind. Class: One minute presentation on your venture=92s Apotheosis. What is your =93ONE IDEA?=94 What makes you unique? What defines your excellence? Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Forum/Blog: Share your apotheosis. Wikientrepreneur.org project: to be discussed in class. CLASS #16 JOSEPH CAMPBELL THEMES: Return / Refusal of the Return THEME: EXIT STRATEGIES Lecture: The exit strategy. Aristotle said that every story has a beginning, middle, and end. So does every life and every business. And you get to write it! What is your exit strategy? Just as the author is cognizant of the ending before they pick up the pen, so too must the entrepreneur be pondering the exit strategy before the business plan is written. What separates the winners from the losers? The markets? The business leaders? What is the tipping point? What happens when one doesn=92t sell the business at the right time? What happens if one grows it too fast, or does not bring in outside investors/leadership when they should? Success Stories! Macintosh, Virgin, Ipod, Epic Games, Myspace.com, Fox. Failures: Dreamworks, Friendster, MP3.com Class: Open discussion regarding successes and failures in different verticals corresponding to class projects. Learn from others=92 mistakes! Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Forum/Blog: What is your exit strategy? Wikientrepreneur.org project: to be discussed in class. CLASS # 17 JOSEPH CAMPBELL THEMES: The Magic Flight Rescue from Without Lecture: The Nature of Risk: Chance Favors the Prepared Mind: The Harder You Work, The Luckier You Get Reading: Against the Gods: The Remarkable Story of Risk (Paperback) by Peter L. Bernstein Forum/Blog: Share your biggest breaks. Did they correspond to the amount of work you were doing? Wikientrepreneur.org project: to be discussed in class. CLASS #18 JOSEPH CAMPBELL THEMES: The Crossing of the Return Threshold Lecture: The Exit Strategy: You can=92t stand still=97=93you=92ve got to k= now when to hold them, know when to fold them, know when to walk away, know when to run.=94 You=92ve got to bring it on home. How does one do this optimally? Successes and failures in exit strategies. When is it time to bring in new management? When is it time to acquire new debt or bring in new financing? When is it time to fold? Forum/Blog: What is the exit strategy for your venture? What are the potential pitfalls of exiting too early or too late? Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Wikientrepreneur.org project: to be discussed in class. CLASS #19 JOSEPH CAMPBELL THEMES: Master of Two Worlds: Freedom to Live Lecture: Your journey has value in the form of Epic Story. When you follow your dreams, there is no failure, as the story of your journey is a fount of wisdom for both you and others. Class: Final project presentations / discussion. Forum/Blog: Post your final projects. Readings: Bogle=92s Battle for the Soul of Capitalism, Joseph Campbell=92s Hero With a Thousand Faces, Homer=92s Odyssey, excerpts from Dr. E=92s Hero=92s Journey Entrepreneurship Wikientrepreneur.org project: to be discussed in class. CLASS #20: JOSEPH CAMPBELL THEMES: Master of Two Worlds Lecture: The hero becomes the mentor. Share the wisdom of your journey with the class. Class: Final project presentations / discussion. Forum/Blog: Post your final projects. Wikientrepreneur.org project: to be discussed in class. http://artsentrepreneurship.com http://herosjourneyentrepreneurship.org http://45surf.com Other posts:
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