Event Reminder: How to Fund your Startup

Jim Cooper is an expert on startup funding and at this talk he will go through some of the lesser known funding options for entrepreneurs.

Jim Cooper is an expert on startup funding and at this talk he will go through some of the lesser known funding options for entrepreneurs.

Just a friendly reminder that we will be hosting an event with startup expert Jim Cooper tomorrow evening at 6pm where he will discuss some of the innovative funding sources that most entrepreneurs know nothing about. Make sure to register by clicking this link.

Here is some information about the event:

As an entrepreneur, there are many options for funding all with clear pluses and minuses. Our speaker, Jim Cooper of Braid Theory, will discuss what some of these options are but he will be focusing on SBIR funding as a great alternative for startups.

“The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation”s R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.” – sbir.gov

Pizza and soft drinks will be served at this event.

We hope to see you there!

[You will need to purchase a parking permit to park on this campus. Information for parking can be found here: http://www.fullerton.edu/irvinecampus/about/campusmap.php]


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUF Consulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge

The Patent Process

Austin Bonderer Patent Attorney

Patent Attorney Austin Bonderer

On July 12, the CSUF Startup Incubator had a guest speaker to discuss the topic of patents. Austin Bonderer, a patent lawyer, visited the Incubator in order to present potential patent landmines that small businesses and startups should be aware of. He specifically addressed an answer to the question “What happens after you have your idea and how do you protect it.”

Before the event, I was able to briefly speak with Austin about his talk and himself. Austin received a degree from the University of Virginia and graduated with a degree in Civil Engineering. Austin has been working in and around patents since 1998. He started his career in patents as the University of Virginia Patent Foundation (now called UVA Licensing and Venture Group). While working toward his law degree, Austin worked for 5 ½ years as a patent examiner at the United States Patent and Trademark office. During this time, his work concentrated on valves, business methods, and medical devices. After his time there, he was a clerk for the Board of Patent of Appeals. From there he became the Head U.S. patent prosecutor for FoxConn Technology Group as a patent lawyer. With all that experience under his belt, he opened up his own firm.

As a patent attorney, Austin always cautions his clients on not moving too fast and to make it a point to go through proper channels to get a patent. Austin started his presentation with a list of pros and cons of why a business should invest in a patent license.  A patent is an “asset to increase the value of your business” said Austin. He went on to describe the process of obtaining a patent, warning the attendees that the average amount of time to acquire a license is 2 years.

The first phase is the search for prior art, this is where a business would conduct a search to see if their product has already been patented by someone else. This stage is optional as the patent office will conduct their own search; however, Austin advises to do it as he explains that the patent office search is not the “end all-be all” and patent examiners only have so much time to search for a certain patent. There are several times for when you should, as a business, conduct a prior art search, this would be at conception, when your first product is made and once more during launch.

“A patent is a negative right, not a positive privilege” said Austin. This refers to the right to keep someone else from making your product.

The second part of the patent process is the Application Writing phase. In its simplest form, this phase is filling out the application for a patent and then paying for it. This is the costliest part of the process, not because of the patent itself but because of attorney fees in order to get the application. A patent application can cost $5,000 or much more.

The last phase of obtaining a patent is the prosecution phase. This phase is turning in the application and (hopefully) getting approved.

Austin continued by presenting a list of “landmines” that companies might face when creating their invention and the following stages. These possible barriers included the invention itself, any employees, inventor and outside parties. He gave tips and directions on how to close these loopholes.

Do you have intellectual property that needs protecting? Get in touch with Austin by going to his website for more details on how he can help you protect the most important assets your business owns.

But a patent is only a part of the process of going from your concept to launch. To access expert coaching on how to start your business and gain access to many other professionals like Austin you should join the CSUF Startup Incubator as our next Resident entrepreneur. Working with the CSUF Startup Incubator is not free but it should be seen as an investment in your business with the ROI being launching your business sooner and having a clear startup road map for your business. Please contact us at csufentrepreneurship@fullerton.edu for more information on how to become the next entrepreneur to work with us at the CSUF Startup Incubator.


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUFConsulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge

Fall 2017 Course Recommendation for CSUF: Startup Business Class for non-Business Majors

Student at WorkStarting a business is a goal for many people and not just those who major in business. In fact, many entrepreneurs did not major in business but they all needed to learn how to start a business. At Cal State Fullerton we have a class built for the specific needs of innovative non-business majors who want to start their own business: BUAD 410 – Starting and Managing a Professional Practice/Small Business.

In this class, students are walked through the process of how to create an actionable business plan for any concept they can come up with. Previous students have developed plans for:

  • An emotional skills building card game to help people overcome disabilities (which finished second in the campus-wide CSUF Business Plan Competition earlier this year!)
  • A toy store designed to engage kids with STEM-related projects and activities
  • Trend setting restaurants and pubs

The kind of businesses that students can start after taking this class are only limited by their imaginations.

What will you learn by taking BUAD 410?

Every student in this class learns the fundamentals of a business plan. This includes topics like:

  • Marketing your product or service
  • Implementing appropriate accounting principles
  • Funding your business
  • Developing a team
  • And everything else that goes into creating a successful business

And here is a video featuring testimonials from students who have previously taken this course that highlights what students can expect to learn by taking this course.

How does BUAD 410 operate?

At the beginning of the semester, every student will be asked to pitch, or give a short presentation, their concept. It’s a sixty second exercise where students will have the opportunity to explain what it is their business is and why it would make for a good venture.

From these presentations the class will decide which concepts will be pursued. Even if a student’s idea isn’t picked they will learn those invaluable skills that were outlined in the previous section through their work on the creation of a business plan for the concept that their group works on during the semester.

Once the groups have been decided it is time to get to work on creating the plans. Each team will have the benefit of working with the professor, Jeff Longshaw, as well as a mentor from the private sector. The combined experience and knowledge of the professor and the mentor helps these teams develop actionable business plans and the professor and mentor also engage with the students in a way that helps them learn and internalize the lessons from the class. Lessons that can be used to start any business a student wants.

By the end of the semester each student will have the skills and knowledge that are needed to start a business. It’s a challenging course but for those students who are interested in starting their own business but are not business majors it is a course that they should definitely take.

Who is the professor?

This course is taught by Professor Jeff Longshaw. He earned his MSBA from the USC Marshall School of Business, has been a business management and communications consultant for decades, and is an entrepreneur. He punctuates his lessons with anecdotes from his experience in the private sector as well as from his time in the armed services. These stories bring to life the difficult concepts that are taught in this class and give students a better understanding of how those lessons relate to the real world.

How do you take this class?

Enrollment for the Fall 2017 at Cal State Fullerton is still open and you have an opportunity to take this class and to take your first steps in becoming an entrepreneur. For more information on this class please contact the Center for Entrepreneurship at csufentrepreneurship@fullerton.edu for more information.


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUFConsulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge

CSUF Entrepreneurship’s High Impact Practices

There are many ways to get an education but in this edition of the CSUF Entrepreneurship Insider Director Jackson discusses how our program uses intensive projects with real world implications to enrich our students’ education and increase graduation rates.

CSUF Entrepreneurship students will tell you two things about their education at Cal State Fullerton: 1. Majoring in entrepreneurship was a challenge and 2. It was the most rewarding experience of their education.

Why is majoring in entrepreneurship at Cal State Fullerton such a challenge?

Every Entrepreneurship Major must complete four classes that feature consulting projects with real businesses and they must also take a pair of classes where they are required to develop a business plan for a concept they come up with and then work on the launch of that business. All of these projects require of our students a great deal of effort and forces them to actively apply what they are learning in the classroom to real world situations with real world results.

These projects are called High Impact Practices and, as discussed in our article titled CSUF Entrepreneurship Students Get Hands On Experience, these classes do increase student engagement and lead to higher graduation rates.

In addition to our professors and mentors, these projects make an entrepreneurial education at Cal State Fullerton a very rewarding experience.

Sincerely,

John Bradley Jackson
Director and Professor
CSUF Center for Entrepreneurship, CSUF Consulting,
& CSUF Startup Incubator

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Getting New Things Done – A New Book on Innovation with Stanford University Press by CSUF Professor David Obstfeld

Cal State Fullerton Professor David Obstfeld has published a book called "Getting New Things Done"

Cal State Fullerton Professor David Obstfeld has published a book called “Getting New Things Done”

Cal State Fullerton Professor David Obstfeld has just published a new book called “Getting New Things Done” with Stanford University Press.

New things get done all the time. But how do new things actually get done?

Cal State Fullerton Entrepreneurship Professor David Obstfeld tackles this question head on. Drawing on his extensive research into social networks and how people coordinate around innovation and entrepreneurship, David articulates a theory of how managers make innovation happen through the skillful orchestration of knowledge and networks.

In Getting New Things Done, David illustrates how innovation takes place based on extensive field observation in a Detroit car company (identified as NewCar). While at NewCar, David saw how three socially adept employees artfully navigated the bureaucratic landscape of the company to get a new, superior manual shifter implemented into new models of their cars. David provides many other examples of this ranging from how entrepreneurs succeed, to how the famous ballet company Ballet Russe revolutionized dance, and the Arab Spring in Egypt.

Innovation is a field that is open to everyone but the process of how innovation takes place has certain identifiable characteristics. David captures these properties in his BKAP model of innovation, which stands for Brokerage, Knowledge Articulation, and Projects. As was the case with NewCar, all innovation includes these three elements.

You can purchase the book on Amazon or at the Stanford University Press. If you purchase through Stanford University Press you can use the code “NEWTHINGS” to get a 20% discount on the book.


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUFConsulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge

CSUF Entrepreneurship Students Get Hands On Experience

Professor John Bradley Jackson uses High Impact Practices to engage his students in an entrepreneurial education at Cal State Fullerton

Professor John Bradley Jackson uses High Impact Practices to engage his students in an entrepreneurial education at Cal State Fullerton

One of the critical components of the CSUF Entrepreneurship program that we are very proud of is that our curriculum features many projects with real world implications. We have the CSUF Consulting program where students work in groups to help develop comprehensive strategy reports for existing businesses and startups. We also have a pair of classes where students develop business plans for a concept of their own and then, in the next semester, actively work to launch that business.

In academic literature, these kinds of projects are called High Impact Practices (HIPs) and they benefit students in many ways. According to a study by the Association of American Colleges & Universities they found that HIPs encourage student engagement and increase graduation rates, especially among underrepresented students, among other positive results.

Cal State Fullerton is conducting its own study on HIPs and is documenting the impact that it is having on our students. This study includes more than 300 courses that prominently feature HIPs. One of these classes is Professor John Bradley Jackson’s Management 465A and early results from the CSUF study show that the students in this class are the most engaged students in the sample. This is the class that has students form teams to develop a business plan for a concept of their own making.

Our project was exciting.,” said Chad Armstrong ’17, who was one of the students to take this course. “During the semester, I could see and believe that this could become a real product. This gave me energy. I liked the people on my team, all of them, even though we disagreed and disappointed each other at times. The project was stressful and at times we didn’t like each other but this is normal in any healthy relationship. Developing a respect for each other’s abilities and strengths early in the project helps get me through the stressful times later in the project. You can’t learn that from a book.

“As a student becomes more engaged, they do projects, they do breakout groups, they think about the topic; that increased engagement increases learning, [and] retention,” says Professor Jackson.

HIPs are an important part of the CSUF Entrepreneurship program. We believe that the intensive projects that we have our students do makes a profound difference on our students’ education; a difference, like Chad says, that “you can’t learn from a book.”

We welcome every student that is ready to take on the challenge of an entrepreneurial education at Cal State Fullerton. For more information on how to become an Entrepreneurship student please go to this page.

And this kind of educational experience would not be possible without our clients from the CSUF Consulting program and the CSUF Startup Incubator, as well as our hundreds of mentors who work with our student groups every semester to enrich students’ education and understanding of business and entrepreneurship. For more information on how to become a client or mentor in our program please email us at csufentrepreneurship@fullerton.edu.

Zach Barajas contributed to this article


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUF Consulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge

CSUF Entrepreneurship Professor Sorrell on How to Charge Higher Prices

Scott Sorrell

Scott Sorrell, CSUF Entrepreneurship Professor

Scott Sorrell has been working with clients for decades helping them market their products and services better as a consultant and speaker. His clients include some of the largest companies in America and he is also one of our Entrepreneurship Professors at Cal State Fullerton. And the story of how he has arrived at this point in his life is as interesting as his presentation style, which was on full display last night during his talk last night at the CSUF Irvine campus.

If you don’t know Scott then you should make the effort to meet him. He’s energetic and bright and is one of those kinds of people who makes life more interesting.

I would never have believed it, but Scott didn’t start out his life as a business major or really very interested in business. He seems to have been born to be a presenter, a sales person, but he majored in Philosophy at school and went on from their to go to a seminary school because he wanted to spread the good word. But life intervened and money started to run out.

Realizing this, Scott decided to start his first business: a print shop. And, despite his lack of training in business he did okay. But he made a common mistake that many first time entrepreneurs make by charging too little for what he did. (As the title of this post would suggest, that is what his talk for us was all about.)

Eventually, Scott’s print shop started including marketing services and that was a great move. Scott’s natural ability to connect with people and communicate ideas effectively started to shine through. Since then Scott’s career has been on the same track. He has worked as a marketing executive, consultant, and speaker for decades now.

And it was because of this story and because of his expertise in marketing that we invited him to speak to the CSUF Entrepreneurship community last night. Specifically, Scott focused his talk on how to help his clients charge higher prices for their goods and services.

The talk was wide ranging and contained a lot of great value for those in attendance. I think we might be able to publish some of the videos from his talk but don’t hold me to it. One way to work with Scott is to engage with one of our CSUF Consulting teams. These consulting teams provide insights and come up with innovative solutions that no other consulting teams in Southern California can come up. These projects start at the beginning of each semester and the fall semester is less than a month away so make sure to get in touch now!


#CSUF

For more details on CSUF Entrepreneurship:
http://business.fullerton.edu/Center/Entrepreneurship/

For more details on how we help people become entrepreneurs:
http://business.fullerton.edu/Center/Entrepreneurship/Incubator

For more details on how CSUF Consulting can help businesses thrive:
http://business.fullerton.edu/Center/Entrepreneurship/Consulting

Attend one of our events for entrepreneurs or sign up for a free mentoring session:
http://bit.ly/CSUFEntrepreneurEvents

Knowledge @ CSUF Entrepreneurship video series:
http://bit.ly/csufknowledge