Entrepreneurship
Entrepreneurship Syllabus Remind: Text @treps to 81010
Week Four
Week Five
Week Six
Week Seven
Week Eight
Week Nine
Week Ten
Week Eleven, Twelve, Thirteen
Weeks Fourteen, Fifteen, Sixteen
Week Eighteen
Week Four
Week Five
Week Six
Week Seven
Week Eight
Week Nine
Week Ten
Week Eleven, Twelve, Thirteen
Weeks Fourteen, Fifteen, Sixteen
Week Eighteen
UNIT ONE: INTRODUCTION TO ENTREPRENEURSHIP
September 6th: Browse the websites below and find 5 cool business ideas
a. SPARTAN INNOVATIONS - MSU IDEA HATCH
b. MIT GLOBAL START UP CHALLENGE - RECENT WINNERS
September 6th: Browse the websites below and find 5 cool business ideas
a. SPARTAN INNOVATIONS - MSU IDEA HATCH
b. MIT GLOBAL START UP CHALLENGE - RECENT WINNERS
9/7 - 9/8 Assignment one: introduce yourself using an infographic, present on 9/12
Go to Piktochart.com, create an account using your google sign in
Here is an example of an infograph: Mrs. Hasseld
To share your infographic, follow these steps:
1. Login to piktochart
2. Publish your piktochart
3. Choose "public"
4. Choose "open on web"
5. Highlight the URL
6. Copy and paste the URL next to your name in this file (click the link below)
FOURTH HOUR: CLICK HERE TO ADD YOUR INFOGRAPHIC TO THE TABLE
FIFTH HOUR: CLICK HERE TO ADD YOUR INFOGRAPHIC TO THE TABLE
9/7: Organization Document
Go to Piktochart.com, create an account using your google sign in
Here is an example of an infograph: Mrs. Hasseld
To share your infographic, follow these steps:
1. Login to piktochart
2. Publish your piktochart
3. Choose "public"
4. Choose "open on web"
5. Highlight the URL
6. Copy and paste the URL next to your name in this file (click the link below)
FOURTH HOUR: CLICK HERE TO ADD YOUR INFOGRAPHIC TO THE TABLE
FIFTH HOUR: CLICK HERE TO ADD YOUR INFOGRAPHIC TO THE TABLE
9/7: Organization Document
UNIT ONE: INTRODUCTION TO ENTREPRENEURSHIP
9/12: Infographic Presentations
9/12 - 9/13:
What's it like to be an Entrepreneur ... videos from Entrepreneurs
Reading: Why Governments Don't Get Start ups - read, take notes using Evidence/Interpretation Log, provided by Mrs. H, due 9/14, drop dead 9/20
9/14: Forms of Business Ownership - notes
9/15: Business Success Reading and Notes, teams complete google doc listing all 6 business types, a real example for each business type and an explanation of WHY that example fits.
9/16: Reading
9/19: Practice quiz on business success, practice login to Illuminate
9/20: Quiz on business types, ownership, business success and failure
9/20 - 9/21:
Work time: Partial class on 9/20, full class 9/21, partial class on 9/22. Essay Due: 9/26/16
Great article with facts about Entrepreneurship
Essay on Entrepreneurship
To submit your essay, go to www.turnitin.com and sign in (or create an account if you don't have one)
Sign up for my class.
4th hour: 13570791, password: Hasseld
5th hour: 13570848, password: Hasseld
9/12: Infographic Presentations
9/12 - 9/13:
What's it like to be an Entrepreneur ... videos from Entrepreneurs
Reading: Why Governments Don't Get Start ups - read, take notes using Evidence/Interpretation Log, provided by Mrs. H, due 9/14, drop dead 9/20
9/14: Forms of Business Ownership - notes
9/15: Business Success Reading and Notes, teams complete google doc listing all 6 business types, a real example for each business type and an explanation of WHY that example fits.
9/16: Reading
9/19: Practice quiz on business success, practice login to Illuminate
9/20: Quiz on business types, ownership, business success and failure
9/20 - 9/21:
Work time: Partial class on 9/20, full class 9/21, partial class on 9/22. Essay Due: 9/26/16
Great article with facts about Entrepreneurship
Essay on Entrepreneurship
To submit your essay, go to www.turnitin.com and sign in (or create an account if you don't have one)
Sign up for my class.
4th hour: 13570791, password: Hasseld
5th hour: 13570848, password: Hasseld
UNIT TWO: IDEA GENERATION
Week Four
9/26: Explore competitions (see separate page);
read and take notes on this article: What Makes a Business Idea Great? due 9/27, drop dead 9/30
9/27: team idea generation activity
9/28: Generating Ideas partner activity due 9/29, drop dead 10/5
9/29: Idea Generation Individual Research due 9/30, drop dead 10/5
9/30: Shark Tank
Week Four
9/26: Explore competitions (see separate page);
read and take notes on this article: What Makes a Business Idea Great? due 9/27, drop dead 9/30
9/27: team idea generation activity
- Minimum of three ideas
- At least two are products/services that do not exist today
- BRIEF explanation of each idea
- Explain market potential
- Pick your favorite
9/28: Generating Ideas partner activity due 9/29, drop dead 10/5
9/29: Idea Generation Individual Research due 9/30, drop dead 10/5
9/30: Shark Tank
UNIT TWO: IDEA GENERATION
Week five
10/3 & 10/4:
Individual meetings with Hasseld re: business idea,
Read, take notes on this article about Lean Start Ups Change Everything NOTES DUE 10/5 BEGINNING OF CLASS
Read this presentation, use your paper business model canvas to take notes on what each section of the business model canvas means NOTES DUE BEGINNING OF CLASS ON 10/5
10/5: Lecture on Lean Business Model and Business Model Canvas
Create Business Model Canvas for your business
Additional explanation of each section of Business Model Canvas
You can complete a paper template or an online template to turn in. Either way it needs to be printed and turned in to the box.
NOTE: first business model canvas due 10/10, drop dead 10/13
Week five
10/3 & 10/4:
Individual meetings with Hasseld re: business idea,
Read, take notes on this article about Lean Start Ups Change Everything NOTES DUE 10/5 BEGINNING OF CLASS
Read this presentation, use your paper business model canvas to take notes on what each section of the business model canvas means NOTES DUE BEGINNING OF CLASS ON 10/5
10/5: Lecture on Lean Business Model and Business Model Canvas
Create Business Model Canvas for your business
Additional explanation of each section of Business Model Canvas
You can complete a paper template or an online template to turn in. Either way it needs to be printed and turned in to the box.
NOTE: first business model canvas due 10/10, drop dead 10/13
Week Six
Back to top of page
10/10: Complete Business Model Canvas (see previous week)
10/11, 10/12: Interviewing potential customers
Read this article on Interviewing customers If you missed class on 10/11, the video we watched is also on that link
Create a list of customer questions for your business (work w/ partner if you have one)
Use the template provided to get ideas, but write your questions on a google doc;
title the document "Hour_lastname_firstname_CustomerDiscoveryInterviews";
Number the questions. Due: end of class 10/12/16, drop dead: 10/14/16
10/12: Quiz: lean business model
Review
Link to Quiz
10/13: Guest Speakers; owners of two local businesses
10/14: Reading: How to Make Money from an App
10/14: Customer Discovery Interviews
—Interview 5 customers; 10 customers if you’re a team, due Wednesday, 10/19
—ONE DOCUMENT – even if partners
—Document should be in BOTH google drives
—Document title: customer_discovery_interviews
—For each interview:
◦Name
◦How they are a potential customer
◦Date
◦Detailed answers to each question
◦Summary of what you learned at end
10/14 Business Model Canvas Revisions
Revise for performance grade and revision of practice grade, IT MUST BE TYPED due 10/18
Back to top of page
10/10: Complete Business Model Canvas (see previous week)
10/11, 10/12: Interviewing potential customers
Read this article on Interviewing customers If you missed class on 10/11, the video we watched is also on that link
Create a list of customer questions for your business (work w/ partner if you have one)
Use the template provided to get ideas, but write your questions on a google doc;
title the document "Hour_lastname_firstname_CustomerDiscoveryInterviews";
Number the questions. Due: end of class 10/12/16, drop dead: 10/14/16
10/12: Quiz: lean business model
Review
Link to Quiz
10/13: Guest Speakers; owners of two local businesses
10/14: Reading: How to Make Money from an App
10/14: Customer Discovery Interviews
—Interview 5 customers; 10 customers if you’re a team, due Wednesday, 10/19
—ONE DOCUMENT – even if partners
—Document should be in BOTH google drives
—Document title: customer_discovery_interviews
—For each interview:
◦Name
◦How they are a potential customer
◦Date
◦Detailed answers to each question
◦Summary of what you learned at end
10/14 Business Model Canvas Revisions
Revise for performance grade and revision of practice grade, IT MUST BE TYPED due 10/18
Week Seven
Back to top of page
10/17 - 10/20
1. See customer interview requirement listed above due 10/19
2. See Business Model Canvas Revision listed above due 10/18
3. Complete customer discovery presentation Use this template and here is your grading rubric due 10/20
Back to top of page
10/17 - 10/20
1. See customer interview requirement listed above due 10/19
2. See Business Model Canvas Revision listed above due 10/18
3. Complete customer discovery presentation Use this template and here is your grading rubric due 10/20
Week Eight
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10/24 - 10/28
10/24:
Peer Review of Customer Discovery
Mentor assignment # 1 - due 10/31
Customer Discovery Interviews
—Interview 5 MORE customers; 10 MORE customers if you’re a team, due Monday, 10/31
—You are adding to your current document, please see my notes on your document!
—For each interview:
◦Name
◦How they are a potential customer
◦Date
◦Detailed answers to each question
◦Summary of what you learned FOR EACH CUSTOMER INTERVIEW
10/25, 10/26:
Customer Discovery Presentations
Back to top of page
10/24 - 10/28
10/24:
Peer Review of Customer Discovery
Mentor assignment # 1 - due 10/31
Customer Discovery Interviews
—Interview 5 MORE customers; 10 MORE customers if you’re a team, due Monday, 10/31
—You are adding to your current document, please see my notes on your document!
—For each interview:
◦Name
◦How they are a potential customer
◦Date
◦Detailed answers to each question
◦Summary of what you learned FOR EACH CUSTOMER INTERVIEW
10/25, 10/26:
Customer Discovery Presentations
FINANCE RESEARCH
10/27 - 10/28
You're going to research some finance information for your business!
Use this worksheet, (which is already printed for you) read the two articles (links below) to answer the questions. Then, use the google spreadsheet below to enter your costs.
Article One on calculating costs from the Small Business Association
Article Two on calculating costs from Entrepreneur Magazine
Google Spreadsheet to Calculate Start Up and Operational Costs - FIRST, make a copy. SECOND, move it to your Entrepreneurship folder, third, FILL IT OUT!
10/27 - 10/28
You're going to research some finance information for your business!
Use this worksheet, (which is already printed for you) read the two articles (links below) to answer the questions. Then, use the google spreadsheet below to enter your costs.
Article One on calculating costs from the Small Business Association
Article Two on calculating costs from Entrepreneur Magazine
Google Spreadsheet to Calculate Start Up and Operational Costs - FIRST, make a copy. SECOND, move it to your Entrepreneurship folder, third, FILL IT OUT!
Week Nine
Back to top of page
10/31 - 11/4
10/31: Dress for Success Presentation
11/1 - 11/2
Revise Customer Discovery Presentation
- Incorporate feedback from practice presentation
- Add additional customer feedback
- Add a new slide: Mentor feedback
Due and Presentations 11/4, 11/7 (PERFORMANCE GRADE)
Back to top of page
10/31 - 11/4
10/31: Dress for Success Presentation
11/1 - 11/2
Revise Customer Discovery Presentation
- Incorporate feedback from practice presentation
- Add additional customer feedback
- Add a new slide: Mentor feedback
Due and Presentations 11/4, 11/7 (PERFORMANCE GRADE)
Week Ten
FINANCE
11/7: finish customer discovery presentations
11/8: Finalize start up costs (see assignment on 10/27 - 10/28 which is also reprinted below)
Use this worksheet, (which is already printed for you) read the two articles (links below) to answer the questions. Then, use the google spreadsheet below to enter your costs.
Article One on calculating costs from the Small Business Association
Article Two on calculating costs from Entrepreneur Magazine
Google Spreadsheet to Calculate Start Up and Operational Costs - FIRST, make a copy. SECOND, move it to your Entrepreneurship folder, third, FILL IT OUT!
Completed worksheet and completed start up costs due beginning of class on 11/9. MAKE SURE THE SPREADSHEET IS IN YOUR GOOGLE SHARED FOLDER!!!
11/9: Read this article on customer acquisition costs and answer these three questions in writing in your JOURNAL:
1. What is CAC ? 2. How you can measure CAC? 3. What steps can you take to improve CAC?
Then Read this article from Entrepreneur Magazine about CAC and answer these questions in writing in your JOURNAL:
4. What industry does your business fall in for CAC? 5. Does the industry average for your business make sense? Why or why not? Explain your answer. 6. Explain how you would calculate the cost of a direct mail campaign for your business, in detail. 7. Why is CAC such an important metric?
11/10:
Create cost document
Review start up costs, finalize operating expenses
11/11: Jigsaw reading
1. Employee costs
2. Distribution Costs
3. Article on CAC and other costs for Apps, Excellent Read!
4. Excellent article on CAC and LTV and their relationship
FINANCE
11/7: finish customer discovery presentations
11/8: Finalize start up costs (see assignment on 10/27 - 10/28 which is also reprinted below)
Use this worksheet, (which is already printed for you) read the two articles (links below) to answer the questions. Then, use the google spreadsheet below to enter your costs.
Article One on calculating costs from the Small Business Association
Article Two on calculating costs from Entrepreneur Magazine
Google Spreadsheet to Calculate Start Up and Operational Costs - FIRST, make a copy. SECOND, move it to your Entrepreneurship folder, third, FILL IT OUT!
Completed worksheet and completed start up costs due beginning of class on 11/9. MAKE SURE THE SPREADSHEET IS IN YOUR GOOGLE SHARED FOLDER!!!
11/9: Read this article on customer acquisition costs and answer these three questions in writing in your JOURNAL:
1. What is CAC ? 2. How you can measure CAC? 3. What steps can you take to improve CAC?
Then Read this article from Entrepreneur Magazine about CAC and answer these questions in writing in your JOURNAL:
4. What industry does your business fall in for CAC? 5. Does the industry average for your business make sense? Why or why not? Explain your answer. 6. Explain how you would calculate the cost of a direct mail campaign for your business, in detail. 7. Why is CAC such an important metric?
- Travel: Priceline.com: $7
- Telecom: Sprint PCS: $315
- Retail: Barnesandnoble.com: $10
- Financial: TD Waterhouse: $175
- Service business: Use same metric as retail
- Mobile Apps: The Cost per Install (CPI) Index measures the cost per app install directly attributed to advertising. For iOS, CPI increased to $1.72, a 12 percent rise since last month and 18 percent increase year-over-year. On Android, CPI fell to $2.42, dropping 10 percent since September but up 110 percent since last year.
11/10:
Create cost document
Review start up costs, finalize operating expenses
11/11: Jigsaw reading
1. Employee costs
2. Distribution Costs
3. Article on CAC and other costs for Apps, Excellent Read!
4. Excellent article on CAC and LTV and their relationship
Week Eleven
11/14: Human Resources Costs
Calculate the HR costs for your business, add them to your cost document
Worksheet
By the end of this class all your cost sections should be complete. You should have one document in your google folder titled "costs".
It should include:
–Customer Acquisition - Use the industry average that matches your business type
–Distribution Costs - Calculate these, if applicable. Otherwise, state that distribution costs are not applicable
–Human Resources - show all calculations or references
–Total start up costs are listed (and then attached as an appendix) - Provide the total amount from your spreadsheet
–Total Operating Expenses for one year are listed (and then attached as an appendix) - Provide the total amount from your spreadsheet
You should have a SECOND document, a spreadsheet with all your start up and operating costs included
THIS IS ALL DUE 11/15/16 AT BEGINNING OF CLASS
*************************************************************************************************************************************
REVENUE STREAMS
This is a link to my PowerPoint. If you missed class this week any day, make sure you also read the PowerPoint
11/15:
1. Set Up Revenue Streams Google Doc (in your Entrepreneurship google folder)
Add the following sections:
A. Revenue model
B. Pricing
C. Customer lifetime values
D. Revenue
E. Gross margin
2. Read this article about Revenue Models and create the revenue model section of your finance plan Due 11/15 end of class
™Create a paragraph under “revenue model” that explains your business’ revenue model. ASSUME the reader doesn’t know what a revenue model is and is NOT familiar with your revenue model
3. Determine PRICING
Read this article on 10 things to consider when setting pricing
Calculate pricing for your product/service - SHOW ALL CALCULATIONS, put this in the second section of the of your revenue streams document Due 11/16
11/16 - 11/17: Determine Customer Life Time Value for your product/service
Read this introduction to LTV on Entrepreneur's website
Then, use this Infographic to help you calculate your business' LTV. This belongs in the third section of your revenue streams document. SHOW ALL CALCULATIONS Due 11/17 end of class
11/17 - 11/21: Determine Revenue: find an article related to your specific revenue model. Cite the article in your revenue streams document and summarize it. Using your notes from presentation, calculate revenue for one year for your business. Put ALL notes in revenue streams doc, carefully explaining your calculations. Due 11/21
11/21 - 11/22: Calculate Cost of Goods Sold
Calculate the cost of goods sold for your business. Put ALL notes in revenue streams document, carefully explaining calculations. Due 11/22
11/28: Read this article about finance terms, take notes on the seven terms.
11/29: Practice quiz on finance terms, review finance terms
11/30: Finance Terms quiz, begin income statement discussion
11/30: Income Statement Template
Use this template to create an income statement for your business. Use the Cost and Revenue figures you developed previously.
Due: 12/2 beginning of class
12/2:
Copy this Business Plan Outline to your Entrepreneurship folder. RENAME it with your business name "Anne's Bakery Business Plan"
Here are three sample business plans. Read your assigned plan and complete the jigsaw handout provided in class:
1. Dress Me Business Plan
2. Fulea Footwear Business Plan
3. Split Sole Business Plan
11/14: Human Resources Costs
Calculate the HR costs for your business, add them to your cost document
Worksheet
By the end of this class all your cost sections should be complete. You should have one document in your google folder titled "costs".
It should include:
–Customer Acquisition - Use the industry average that matches your business type
–Distribution Costs - Calculate these, if applicable. Otherwise, state that distribution costs are not applicable
–Human Resources - show all calculations or references
–Total start up costs are listed (and then attached as an appendix) - Provide the total amount from your spreadsheet
–Total Operating Expenses for one year are listed (and then attached as an appendix) - Provide the total amount from your spreadsheet
You should have a SECOND document, a spreadsheet with all your start up and operating costs included
THIS IS ALL DUE 11/15/16 AT BEGINNING OF CLASS
*************************************************************************************************************************************
REVENUE STREAMS
This is a link to my PowerPoint. If you missed class this week any day, make sure you also read the PowerPoint
11/15:
1. Set Up Revenue Streams Google Doc (in your Entrepreneurship google folder)
Add the following sections:
A. Revenue model
B. Pricing
C. Customer lifetime values
D. Revenue
E. Gross margin
2. Read this article about Revenue Models and create the revenue model section of your finance plan Due 11/15 end of class
™Create a paragraph under “revenue model” that explains your business’ revenue model. ASSUME the reader doesn’t know what a revenue model is and is NOT familiar with your revenue model
3. Determine PRICING
Read this article on 10 things to consider when setting pricing
Calculate pricing for your product/service - SHOW ALL CALCULATIONS, put this in the second section of the of your revenue streams document Due 11/16
11/16 - 11/17: Determine Customer Life Time Value for your product/service
Read this introduction to LTV on Entrepreneur's website
Then, use this Infographic to help you calculate your business' LTV. This belongs in the third section of your revenue streams document. SHOW ALL CALCULATIONS Due 11/17 end of class
11/17 - 11/21: Determine Revenue: find an article related to your specific revenue model. Cite the article in your revenue streams document and summarize it. Using your notes from presentation, calculate revenue for one year for your business. Put ALL notes in revenue streams doc, carefully explaining your calculations. Due 11/21
11/21 - 11/22: Calculate Cost of Goods Sold
Calculate the cost of goods sold for your business. Put ALL notes in revenue streams document, carefully explaining calculations. Due 11/22
11/28: Read this article about finance terms, take notes on the seven terms.
11/29: Practice quiz on finance terms, review finance terms
11/30: Finance Terms quiz, begin income statement discussion
11/30: Income Statement Template
Use this template to create an income statement for your business. Use the Cost and Revenue figures you developed previously.
Due: 12/2 beginning of class
12/2:
Copy this Business Plan Outline to your Entrepreneurship folder. RENAME it with your business name "Anne's Bakery Business Plan"
Here are three sample business plans. Read your assigned plan and complete the jigsaw handout provided in class:
1. Dress Me Business Plan
2. Fulea Footwear Business Plan
3. Split Sole Business Plan
CREATE YOUR BUSINESS PLAN
Here is Mrs. Hasseld's PowerPoint slide show with details on each section of the business plan
Use the business plan Outline for all activities below
12/5 - 12/6: Fill in the business plan using your business model canvas, customer discovery presentation, cost document and revenue streams document.
12/7: Review, in class, of problem and UVP
12/8: Review, in class, of solutions. Add SWOT analysis to document
SWOT Analysis explanation and examples
12/9: Review, in class of channels and all sections of business plan
12/13: Create customer segment section of business plan
Assignment
Example (see page five)
12/20
FINAL business plan due
PRINT the entire plan, two sided. Also PRINT THE INCOME STATEMENT and attach it. Staple it all together and turn it in!
12/21
Shark Tank!
Week 18 & Week 19
1/4 - 1/9: Finalize Business Plan
1/10: Save business plan as a PDF and Submit Business Plan to EMU Skandalaris Business Plan Competition
1/11 - 1/19: ELEVATOR SPEECH
Elevator Speech Final Exam Rubric
Elevator Speech Practice Rubric
Elevator Speech Outline
Extra Credit: Complete the Elevator Speech Mentor Assignment - due 1/19/17 (no extension)
1/11
Elevator Speeches we reviewed in class (if you missed, you need to evaluate them and show Mrs. H)
—2014 University of Dayton Winner
--https://www.youtube.com/watch?v=3xn88qYx0OQ
—2015 University of Dayton Winner
--https://www.youtube.com/watch?v=YKHg1wOsZx0
—Shark Tank: Grinds Coffee Pouches
--https://www.youtube.com/watch?v=ee_ZOl8VYnY
—Shark Tank: Drop Stop
--https://www.youtube.com/watch?v=2VroUci_e-c
--
1/12
Shark Tank - Take notes on the scenarios
https://www.youtube.com/watch?v=fZ66jPvqUjg
For each business, name the business and then write several bullet points or a paragraph summarizing the business idea. Last, rate the elevator speech (1 - 4) (remember to focus here on the initial pitch from the business).
1/13
Work Day - create the elevator speech for your business
1/18
Practice Day - practice your elevator speech in class
1/19
Give your elevator speech
1/20
Turn in your written business plan. MAKE SURE you attach the practice rubric and your practice business plan
1/23
Visit from University of Michigan Entrepreneurship Club
Website
1/4 - 1/9: Finalize Business Plan
1/10: Save business plan as a PDF and Submit Business Plan to EMU Skandalaris Business Plan Competition
1/11 - 1/19: ELEVATOR SPEECH
Elevator Speech Final Exam Rubric
Elevator Speech Practice Rubric
Elevator Speech Outline
Extra Credit: Complete the Elevator Speech Mentor Assignment - due 1/19/17 (no extension)
1/11
Elevator Speeches we reviewed in class (if you missed, you need to evaluate them and show Mrs. H)
—2014 University of Dayton Winner
--https://www.youtube.com/watch?v=3xn88qYx0OQ
—2015 University of Dayton Winner
--https://www.youtube.com/watch?v=YKHg1wOsZx0
—Shark Tank: Grinds Coffee Pouches
--https://www.youtube.com/watch?v=ee_ZOl8VYnY
—Shark Tank: Drop Stop
--https://www.youtube.com/watch?v=2VroUci_e-c
--
1/12
Shark Tank - Take notes on the scenarios
https://www.youtube.com/watch?v=fZ66jPvqUjg
For each business, name the business and then write several bullet points or a paragraph summarizing the business idea. Last, rate the elevator speech (1 - 4) (remember to focus here on the initial pitch from the business).
1/13
Work Day - create the elevator speech for your business
1/18
Practice Day - practice your elevator speech in class
1/19
Give your elevator speech
1/20
Turn in your written business plan. MAKE SURE you attach the practice rubric and your practice business plan
1/23
Visit from University of Michigan Entrepreneurship Club
Website
