LAUNCH! Magazine Winter 2012

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1. WINTER 2012 | ISSUE NO. 4 | LAUNCH! MAGAZINE | 1w w w. l a u n c h m a g . c o How to Develop A BUSINESS PLAN Aaron MOSKOWITZ Pratish SHAH Jimmy NGUYEN Robert BUHLER 2. 2 | LAUNCH! MAGAZINE| ISSUE NO. 4 | WINTER 2012 w w w. l a u n c h m a g . c o LAUNCH! Magazine celebrates the creativity, dedication to responsible business practice and entrepreneurial spirit of students and alumni at Pepperdine Universitys Graziadio School of Business and Management, principles fundamental to its mission and that the school and its faculty have embraced and actively advanced for more than 40 years. PUBLISHED BY GRAZIADIO SCHOOL OF BUSINESS AND MANAGEMENT 2011 PEPPERDINE UNIVERSITY DEAN: LINDA A. LIVINGSTONE, PH.D. ENTREPRENEURSHIP PROGRAM: Larry Cox, Ph.D. PUBLISHING EDITOR: Dianne King EDITOR: F. Douglass Gore III EDITORIAL ASSISTANCE: Jaime Quigley PROFILES: Amy Biemiller, Lightstream CONTRIBUTING PHOTOGRAPHY: Leroy Hamilton Shutterstock.com CONTENTS FEATURES 2 How to Develop A Business Plan 15 The Short List ENTREPRENEURS 7 Aaron Moskowitz, MBA 07 9 Pratish Shah, MBA 10 11 Jimmy Nguyen, MBA 09 and Patrick Leroy, MBA 09 13 Robert Buhler, MBA 10 LAUNCH! ON THE COVER Professor Doug Howe, founder and principal of Emerson Management Solutions, teaches global marketing, entrepreneurial start-up strategies and business-plan writing as a member of the practitioner faculty at Pepperdine. In this issue of LAUNCH! he provides his recipe for a winning business planone guided by the wisdom of venture capitalist and Apple Fellow Guy Kawasaki. Howe helped launch the Graziadio Schools redesigned entrepreneurship curriculum, playing a key role in overseeing the Pepperdine Business Plan Competition in recent years and establishing the annual signature symposium Entrepreneurs Journey. After the Spring 2012 trimester, Howe retires Photo by Leroy Hamilton 3. WINTER 2012 | ISSUE NO. 4 | LAUNCH! 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To accomplish that, he shares his experiences as an entrepreneur and draws on the business development model developed by Guy Kawasaki. I have had several opportunities to observe investors in presentation settings stop entrepre- neurs during the pitch and ask Have you read The Art of the Start? says Howe.Savvy investors can tell if presenters understand the key steps to an efficient and productive use of everyones time as presented in Guy Kawasakis model. 4. 4 | LAUNCH! MAGAZINE| ISSUE NO. 4 | WINTER 2012 w w w. l a u n c h m a g . c o Kawasakis book covers many aspects of starting a business bootstrapping, recruiting, positioning and branding, among several other key subjects, explains Howe. He finds Kawasakis example vital in helping students understand how to craft a business plan and orchestrate an effective presentation. Investors are the key audience for entrepreneurship students, so my focus is the rationale behind the business plan and how to most effectively draft and present it, he says. Howe is no stranger to entrepreneurship, securing venture capital, and Kawasakis influence. He has experience as both a senior manager in start-up operations and, as an entrepreneur, Howe has seen firsthand investors enthusiastically endorse Kawasakis approach. Kawasaki is someone who has been there, done that, suffered through it and learned the lessons. He is now, as a venture capitalist, providing an invaluable service by describing not only a philosophy of how to start a business, but also a step-by-step process for achieving success, he says. SUCCESSFUL BUSINESS PLANS ARE BORN FROM THE PITCH Entrepreneurs unfamiliar with Kawasakis book often get the process of building a business plan backwards. According to Kawasaki, a good business plan is the elaboration of a good pitch. A good pitch is not the distillation of a business plan. Professor Doug Howe 5. WINTER 2012 | ISSUE NO. 4 | LAUNCH! MAGAZINE | 5w w w. l a u n c h m a g . c o sectionwhich should be a maximum of two pagescritical to gaining capital. These first two pages of the plan must succinct- ly communicate the essence of the who, what, when, how and why of the enterprise, spark the investors imagination and generate a high level of interest and enthusiasm to read on, says Howe. Howe adds that while the Executive Summary appears at the very beginning of the business plan document, it is the last item to be completed in the process, succinctly summarizing all of the plans details. THE REST OF THE STORY Howe cautions that the plan should not be crafted by committee. While everyone on the team can contribute to the draft, one person should write the plan for the sake of continuity, and brevity, he says. He considers anything that is too thick to be stapled, too long. Potential investors expect you to have a business plan, b