Wednesday, August 11, 2010

Opportunity Assessment: Business & Bacardi

The fall semester is about to begin for many college students and about 30 lucky coeds are going to have me as their ENTR 151 instructor. This is my second semester teaching this course and I must say, it is awesome. This semester I am going to run an analogy throughout the entire course in an effort to give the students more than just an expanded understanding of business.

ENTR 151: Opportunity Assessment
The course objective is to teach students to develop a system to determine the viability and value of the hundreds of ideas that run through an entrepreneurial brain. This is all pre-biz plan stuff. There is no need to flesh out a 30 page plan for an idea that has weak legs to begin with. You have an idea, you quickly assess the likelihood of success and take the appropriate action.

Bacardi 151: Opportunity Assessment
During the duration of the semester, I will also make the connection between assessing opportunities in business and the many opportunities facing students when they go out to the bar (or any other social setting). Like the business opportunities available at every turn, students can benefit from having the skills to assessment romantic opportunities as well.

The analogy actually works.
Light Bulb = Chance to make money
Lounge = Chance to make out

Light Bulb = Know your market
Lounge = Know your type

Light Bulb = Know other sellers
Lounge = Know other stalkers

Light Bulb = How much do you need to invest to accomplish goals
Lounge =
How much do you need to spend to accomplish goals

Light Bulb = How is my idea unique
Lounge = How am I unique

There are other key elements that are part of the analogy, but you get the idea.

As a business professional, I am sometimes frustrated with college students' inability to practically apply their book learnin' or address abstract thinking. I also know that college students are often frustrated by useless theory.

From Business to Bacardi, it's all about assessing opportunities.

See ya in class.

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