SEA Work Session 11

We welcome you back to the second half of our Academy this Tuesday evening, April 1, at 6:15 pm on Zoom at our usual link.

https://ucla.zoom.us/j/4334738531

Our agenda for the next few weeks is to have you dig into the details of how your ventures are going to work, both in terms of operations and finances.  We have a guest lecture on Tuesday by Caren Sawyer on how to do financial modeling for your ventures. I have attached a PDF of the slides for the lecture.

Building a financial model can be somewhat intimidating as there is a lot to keep track of. You should keep in mind that the big picture goal in building a financial model is to help you think in a systematic way about your venture.

There are many questions you will have to try to answer -- what price can we charge? How many customers will we have? What will it cost us to market to these customers? What will it cost us to serve these customers once we have them? You will not know the answers Tuesday night. Your goal for Tuesday will be to discuss which questions you think you have good information available to answer and which questions you need to do more research on.

As you look to answer these questions, you may find that you need to reconsider certain aspects of your proposed venture. This is completely normal. A central part of entrepreneurship is about adjusting your plans as you learn more.

We look forward to seeing you all on Tuesday.