Introduction to Entrepreneurship Auditor Webpage
Georgiopoulos and Borelli Classrooms
Raether Hall, Tuck School
Classes begin Wednesday, January 8, 2014 and
conclude on Wednesday, March 5, 2014
4:45 - 6:45 pm
Professor: Gregg Fairbrothers
Office: Tuck 203A
Audit Coordinator: Sandy Rozyla
Office: Centerra Resource Park, 16 Cavendish Court, Lebanon, NH
Office hours with Professor Fairbrothers
Sign up for 30 minute one-on-one office hours with Professor Fairbrothers throughout the term:
Link to online self-serve office hours >
Weekly Link for Online Auditors (streamed live weekly)
Weekly link for online auditors will be posted soon >
Instructions for accessing WebEx >
The course is designed to provide a global introduction to the process of turning an idea into a successful startup enterprise. There will be a special emphasis on commercializing innovations derived from research and technology development. The track can be useful for anyone having an idea and much, little or no pre-existing entrepreneurial experience. For Tuck first-year students, the course should provide a comprehensive foundation for additional entrepreneurial learning in the spring First-Year Project course, summer internships in entrepreneurial environments, the second-year Advanced Entrepreneurship course, and self-generated independent studies for credit. The course aims to have students exit this class:
- prepared to intelligently evaluate potential startup opportunities for personal involvement;
- fully knowledgeable of the major components of full-cycle development of an idea into a successful enterprise;
- capable of beginning the implementation process on ideas that merit development
The format is designed as a resource for multiple audiences for credit or audit:
- Tuck second-year students who would like an intro level course in entrepreneurship
- Dartmouth Medical School, other life sciences constituents – faculty, researchers, medical school students, Thayer students and faculty, selected auditing Dartmouth undergraduates, faculty, staff, or alumni with an interest in startup entrepreneurship.
- Anyone eligible for a dartmouth.edu, hitchcock.org or alum.dartmouth.org email address is eligible to audit the course by application to the DEN.
- Dartmouth Regional Technology Center (DRTC) tenants are also eligible for inclusion upon application and approval by application to the DEN.
Wednesday evenings, 4:45-6:45 PM, commencing Wednesday, 1/8/13 for 9 weeks in Georgiopoulos and Borelli Classrooms, Raether Hall, Tuck School of Business.
The course will draw on lectures, discussions, group project presentations, sample presentations by existing Dartmouth startups, and guest lecturers with distinctive experience and expertise. There will be required and suggested readings. Assignments will be organized around a self-selected business idea and a summary presentation prepared for public review and scrutiny at the end of the semester. Final written deliverables for students taking the course for credit will be:
- an executive summary document (“pitch sheet”) suitable for wide distribution in promoting a startup idea;
- a PowerPoint pitch presentation deck, and;
- a due diligence analysis of another project presented in the class.
IENT is a laptops down course in order to give attention to speakers, promote class discussion, and facilitate participation without distractions, please do not use laptops in class.
Attendance is mandatory for "live" auditors. "Live" audit students are required to attend seven of the nine class sessions. "Online" auditors have no attendance requirements.
An auditor’s role is to observe and be non-obstructive. Auditors are not required to participate on a project team or read the assigned readings.
While auditors typically do not participate in assignments or project teamwork, if an auditor would like to participate in a project, he/she can. An auditor can do this in three ways:Pitch a project at the end of the second class session (see syllabus) and see if you get any takers to join you to work on your project (teams can consist of all auditors, all for-credits, or a mix of auditors and for credit students). The pitch is 2 minutes, standing up in front of class and making your case about the project and why this would be an interesting project to work on. Interested students and/or auditors will come find you after class. Note, not all students will pitch as some students will come to class with an idea and with a team in had. Remember, for credits will be graded on deliverables for whichever team they work on and many will continue to work on this project in the First Year Projects during the Spring term. FYI, no one is a matchmaker, each student/auditor is on their own to find or create a team, your first entrepreneurial task!
Watch pitches, talk to other students/auditors, and identify a team you would like to join, then seek out someone from that team after class and ask to join (of course, the team needs to agree they can add another person). Teams must consist of a minimum of 3 students and a team may consist of audit and for credit students, as long as each team member is willing to devote the time required to develop a project/idea.
Auditors can form their own team of auditors, they can work on their project throughout the term, and they can present their final presentation/findings privately to Professor Fairbrothers in his office some time in March for feedback and guidance. FYI, for credit students are required to present to a panel of entrepreneurs and investors on March 5th.
Professor Fairbrothers published a book two years ago “From Idea to Success” (available through Amazon). At the end of each chapter you will find “I wish I knew then what I know now” anecdote from Dartmouth entrepreneurs. Professor Fairbrothers has also created a “Startup Toolkit” website. This site contains suggested readings, helpful websites, Q & A, and sample documents. This site is still a work in progress and can be found at http://greggfairbrothers.com/.
Click to learn more about DEN/Tuck’s online video library on entrepreneurial topics.
Click here >
Class 1, January 8th - Introduction and Company Presentations
Class 2, January 15th - Market Validation
Class 3, THURSDAY, January 23rd - The People (MLK week)
Class 4, January 29th - Financing
Class 5, February 5th - Executive Summary, Presentations, and Business Plan Development
Class 6, February 12th - Competition and Barriers to Entry; Social Entrepreneurship
Class 7, February 19th - Intellectual Property, Case History
Class 8, February 26th - What is Success?
Class 9, March 5th - Final class presentations
On Wednesday, March 5th, all for-credit teams will present to a panel of entrepreneurs, angel investors, and venture capitalists. This is a requirement for all for-credit students. Presentations will run 30-40 minutes each, length of time available will depend on the number of projects in the class and number of review panels working. Presentations will be running simultaneously in 6 to 8 classrooms at Tuck during the normal class time on March 5th. For-credit students and auditors can roam around the classrooms and pop in and out of classrooms watching presentations. There will be a buffet of presentations to choose from and you will have the opportunity to see how teams came up with an idea, took what they learned in class, added it to their own toolkit, and executed on the idea (it’s all about execution!). A full schedule will be provided on March 4th. The final presentation event is the capstone event of this course, don't miss it!
Reading List and Class Lecturer Biographies
The textbook is available from Amazon, Wheelock Books, andDartmouth Bookstore to purchase OR on 24 hour reserve at Feldberg Library.
- Barringer, Bruce R., and R. Duane Ireland. Entrepreneurship: Successfully Launching New Ventures. (Upper Saddle River, NJ: Pearson Prentice-Hall, 2012).
- HBS Case study, Explore, Inc (9-300-011) (see class 8 for link)
You can look at these books on reserve at Feldberg and see if you think they’ll be valuable to you in the course or to help you with your idea. They are not reserved at the bookstore, but you may want to buy one or more online for the course and future reference. The Bagley book on entrepreneurial business law is a good reference if you plan to start a company.
- Bagley, Constance and Craig Dauchy. The Entrepreneur’s Guide to Business Law. (Mason, Ohio: West, 2008).
- Bygrave, William D. (editor) and Andrew Zacharias (editor). The Portable MBA in Entrepreneurship. (Hoboken, NJ: John Wiley and Sons, 2010).
- Dorf, Richard C., and Thomas H. Byers. Technology Ventures: From idea to Enterprise. (Boston, MA: McGraw-Hill Higher Education, 2005).
- Fairbrothers, Gregg E. and Tessa Winter. Ideas to Success: The Dartmouth Entrepreneurial Network’s Guide for Startups. (New York: McGraw-Hill, 2011).
- Farson, Richard, and Ralph Keyes. Whoever Makes the Most Mistakes Wins. (New York, NY: The Free Press, 2002).
- Feld, Brad and Jason Mendelsohn. Venture Deals. (Hoboken: John Wiley and Sons, 2011).
- Heath, Chip and Dan Heath. Made to Stick. (New York, NY: Random House, 2007).
- Hisrich, Robert D., Michael P. Peters and Dean A. Shepherd. Entrepreneurship. (Boston, MA: McGraw-Hill Irwin, 2008): 135-167.
- Kawasaki, Guy. The Art of the Start. (New York, NY: Portfolio, 2004).
- Kawasaki, Guy. Reality Check. (New York, NY: Portfolio, 2008).
- Klein, Maury. The Change Makers: From Carnegie to Gates, How the Great Entrepreneurs Transformed Ideas into Industries. (New York, NY: Times Books, Holt & Co., 2002).
- Krass, Peter (Editor). The Book of Entrepreneurs' Wisdom: Classic Writings by Legendary Entrepreneurs. (New York, NY: John Wiley & Sons, 1999).
- Lesonsky, Rieva. Start Your Own Business. (Irvine, CA: Entrepreneur Press, 2007).
- Livingston, Jessica. Founders at Work – Stories of Startups’ Early Days. (New York, NY: Apress, 2008).
- Osterwalder, Alexander and Yves Pigneur. Business Model Generation. (Hoboken: John Wiley and Sons, 2010).
- Robbins, William L. Seed-Stage Investing. (Boston, MA: Apspatore, 2006). (Bill Robbins is a Dartmouth ’83 who has worked in large corporations, startups and venture investing in the medical technology sector.)
- Sahlman, William, Howard H. Stevenson, Michael J. Roberts, and Amar Bhide. The Entrepreneurial Venture. (Boston, MA: Harvard Business School Press, 1999).
- Stoller, Gregory. Strategies in Entrepreneurial Finance (Garfield Heights, Ohio: Northcoast Publishers, 2006).
- Van Osnabrugge, Mark, and Robert J. Robinson. Angel Investing – Matching Funds with Start-up Companies – The Guide for Entrepreneurs, Individual Investors, and Venture Capitalists. (San Francisco, CA: Josey-Bass, 2000).
- Alimansky, Burt. “Eight Ways to Ruin Your Chances of Raising Venture Capital,” The Journal of Private Equity, (Summer 2000): 78-82.
- Gumpert, David E. and James McNeill Stancill. “How Much Money Does Your New Venture Need?” Harvard Business Review (May/June 1986, Vol. 64 Issue 3): 122.
- Sahlman, William A. “How to Write a Great Business Plan,” Harvard Business Review, July-August, 1997: 98-108.
- DEN website, Resources section
- For sample presentations and summaries
- “How Can You Make the Annual Financial Plan Even Better” Michael Gonnerman
- Entrepreneurial Resources
Class Lecturer Biographies
Michael Clarkin D’85
VP of Marketing, Sykes Enterprises
Michaelleadsall marketing activities for SYKES,a global leader in outsourced customer contact management solutions. Hisresponsibilities includeplanning and executing marketingstrategies aimed at Technology, Telecommunications and Financial Services clients. Thisincludes marketing communications, newproduct and service development, as well as designing strategies for emerging markets such as China.
In addition, Michael is the founder and President of Trilogy Consulting. At Trilogy, Michael has guided companies to improve revenue and profitability by developing robust customer driven strategies, aligning them across the entire company, and creating a culture of execution to assure implementation. His method for success is based upon a participative strategic planning process, focused and executable plans, and a unique ability to draw together all elements of the company around a common objective. He has provided services to companies in IT System Integration, Enterprise Software and Medical Devices. Michael also has particular depth of knowledge in the Semiconductor, Network Security, and Wireless and Optical Communication industries.
His 18-year career includes more than a decade with Hewlett-Packard, a benchmark company in technology and management innovation, and five years with startup and turnaround companies in New England.Michael'swork at HP includedsuccessive marketing andbusiness management leadership positions in California, Germany, Hong Kong and Malaysia.
Mr. Clarkin holds a BA from Dartmouth College in Mathematics and Engineering and an MS in Electrical Engineering from the University of California at Santa Barbara in addition to executive education programs from Harvard Business School and INSEAD.
Jeff Crowe D’78
General Partner, Norwest Ventures
Jeff joined Norwest Venture Partners in 2004 and focuses on seed and mid stage investments in software, Internet, and consumer arenas. He currently serves on the board of deCarta, Evincii, Jigsaw, Lending Club, Nano-Tex, Tuvox, and Turn. Jeff is responsible for the NVP's investment in Coveroo and is actively involved with Cast Iron Systems.
Prior to Norwest, Jeff served as President, COO and board member of DoveBid, Inc., a privately held business auction firm, which expanded during his tenure via internal growth and acquisition from a $10M revenue run rate to a $120M revenue run rate with 400 employees.
From 1990 to 1999, Jeff was co-founder, President, CEO and Board member of Edify Corporation, a venture backed enterprise software company focused on voice and internet e-commerce platforms and applications. Jeff was responsible for all strategic and operational activities at Edify as the company went from start-up in 1990 to $80M in revenue and 400 employees. Edify held its IPO in 1996 and was sold to S1 Corporation in 1999.
Previously, Jeff worked at ROLM Corporation, IBM and Siemens in marketing and general management. Jeff led the marketing for the voice messaging division within ROLM, which grew from startup to $50M in revenue.
Jeff is currently chairman of the board of Hand in Hand Parenting, a non-profit organization, and is past chairman of the board of Theatreworks.
Jeff holds an MBA from Stanford Graduate School of Business, where he was an Arjay Miller Scholar, and a BA in History, summa cum laude, from Dartmouth College.
Gregg Fairbrothers D’76
Founding Director, Dartmouth Entrepreneurial Network, Dartmouth College
Chair, Dartmouth Regional Technology Center
Adjunct Professor of Business Administration, Tuck School
Gregg Fairbrothers is the founding director of the Dartmouth Entrepreneurial Network at Dartmouth College, he is an adjunct professor of business administration at the Tuck School of Business at Dartmouth, and he is chair of the Dartmouth Regional Technology Center (DRTC). Prior to returning to Dartmouth in 1999, for over 22 years, Gregg served in a variety of management and executive positions in the oil and gas industry, managing and founding exploration and production companies on three continents.
Gregg completed his BA in Earth Sciences, magna cum laude, from Dartmouth College; he obtained his MS in Geology from Rutgers University, and received his MBA from the University of Tulsa in 1983.
Dave Girouard D’88, TH’89
Founder and CEO, Upstart
Dave founded Upstart after 8 years at Google where he was President of Google Enterprise and VP of Apps. Dave graduated from Dartmouth College with an AB in Engineering Sciences and a BE in Computer Engineering. He also received an MBA from the Ross School at the University of Michigan with High Distinction. Upstart was founded by a team of ex-Googlers with a simple idea - to help students do what they were meant to do. Too many talented college grads take jobs they’re not excited about, rather than following their true passion. Whether constrained by debt or just comforted by traditional career options, too many students take the perceived "safe path." Upstart aims to help students with the most important part of pursuing their dreams - taking the first step.
Michael Keller D’87, T’91
CEO and President, Pearson Candy, formerly with Dairy Queen
Michael Keller, CEO/President of Pearson Candy Company is responsible for all operations of the St. Paul MN based confectioner. He joined the company in the summer of 2011 after Pearson’s was acquired by Brynwood Partners, a private equity firm based in Greenwich, CT. Before joining Pearson’s he was Chief Brand Officer for International Dairy Queen (IDQ) for 10 years and was responsible for the marketing, brand, concept and product strategies for the Dairy Queen system in the U.S., Canada and International. Prior to IDQ, he served as head of marketing for Jamba Juice, Inc., Homestore.com, Koo Koo Roo and Baskin Robbins USA and also worked for Nestle Chocolate Co. and Bain & Co in manager roles.
Keller graduated from Dartmouth College in 1987 with a Bachelor’s of Arts degree in Psychology. In 1991, he earned a Master’s of Business Administration degree and graduated as a Tuck Scholar from Amos Tuck School of Business Administration at Dartmouth College.
He has a daughter, Ava, and two sons, Davis and Alden; and lives in Uptown in Minneapolis, MN.
In his spare time, Keller currently enjoys serving on various non-profit boards including Children’s Miracle Network Hopsitals, PACER Center and Lake Country Montessori School. He also enjoys training for and competing in triathlons, following the New York Giants and Yankees and supporting his kids’ soccer and dance pursuits.
Sam Kinney D’86, T’90
Vice President and Co-Founder, SurgeryFlow
Sam started his entrepreneurial career in 1995 as co-founder, EVP, and director of FreeMarkets (subsequently Ariba in 2004 and SAP in 2012). Over his tenure there, he served numerous roles in operations, human resources, marketing, technology development, and finance, including as acting CFO of its 1999 IPO ($214 million raised, 400+% first day pop), and accumulating more than 20 patents as co-inventor. He led the Series A angel investment round in Kiva Systems (acquired 2012 by Amazon). He incubates two new firms as founder/co-founder. He also served consulting stints with Booz-Allen & Hamilton, McKinsey & Company, and served as a budget director of an aerospace firm after Tuck.
Andy Palmer T’94
Founding CEO, Vertica Systems
Andy Palmer is a Co-Founder and CEO of Vertica Systems, Inc. With a track record of five successful startups in the past twelve years, Andy is a specialist in accelerating the foundation and growth of early stage companies. In 2004, Andy partnered with Dr. Michael Stonebraker - "Father of the Relational Database" to found Vertica Systems. Vertica is pioneering the development of next generation database engines. While co-founding Vertica, Andy has continued to serve as the Senior Vice President of Operations at Infinity Pharmaceuticals where he was a member of the core startup team and is responsible for information technology, informatics, operations, finance, human resources, and organizational development as the company raised over $150M, grew to over 100 employees and put its first compound into the clinic for Multiple Myeloma. Prior to joining Infinity, Andy was a member of the startup team and served as the Vice President of Sales and Marketing at Bowstreet Software Inc. During Mr. Palmer's tenure, Bowstreet grew from three employees to over 300 employees and raised over $150M. Before Bowstreet, Mr. Palmer was the first Vice President of Marketing at pcOrder.com (NASDAQ: PCOR) where he was directly responsible for dramatic revenue growth and rapid customer acquisition in preparation for a successful initial public offering as the company grew from 5 to over 250 employees and a peak market capitalization of over $1.5B.
In addition to his work with Vertica and Infinity, Mr. Palmer currently serves on the Board of Directors of Stratbridge, Inc. and Animation Technologies, Inc.
Andy earned an MBA from the Amos Tuck School at Dartmouth College (1994) and his BA in English, History, and Computer Science from Bowdoin College (1988).
John Puckett D’86, T’90
Founding CEO, Caribou Coffee, Punch Pizza
John Puckett graduated from tuck (along with his wife Kim) in 1990. They live on a horse farm in Maple Plain, Minnesota with their school aged daughters. Prior to his current role as Co-owner of Punch Neapolitan Pizza, he co-founded Caribou Coffee with his wife. After graduating from Tuck he worked as a management consultant with Bain.
CIO/COO, CliniSync – Ohio Health Information Partnership and founder HTP, Inc.
Fred Richards joined the Ohio Health Information Partnership in September 2010 as the Chief Operating Officer and the Chief Information Officer. He is an Information Technology corporate executive with 28 years of experience in information systems focused on healthcare industry administrative systems, health insurance systems, and health maintenance organizations software and operations. Fred manages the entire team at our organization and brings business and marketing expertise that blends well with the mission of a nonprofit. His guidance through the creation of a health information exchange in Ohio shapes the work of our staff. In May 2011, he launched CliniSync -- Ohio's statewide information exchange and continues to coordinate this huge effort for our citizens and the healthcare industry.
As the Vice President of Healthcare Strategy at RelayHealth, Fred previously assisted in the development of products and services to improve administrative and clinical processes in the healthcare industry. He developed product strategies for the Health Plan and Ambulatory Care markets. While there, he also had the opportunity to develop two product patents. Fred is extremely experienced in operating small businesses. He is the founder of HTP Inc., which is a rapidly growing $7 million technology-enabled business process outsourcing service for healthcare financial transactions. He also managed development of routing technology for Utah Health Information Network (UHIN), the first recognized Regional Health Information Network (RHIO). He was able to grow the company from three employees to 65 in 10 years, then sold the company to the McKesson Corporation.