Title: 30 Minute Business Plan
Submitted by: Gary Beckman
Institution: The University of Texas at
Austin
Course Title: "Entrepreneurship in the
Arts"
Division Offered: College of Fine Arts -
Fall 2006
Demographic: Undergraduates [Fine Arts,
Liberal Arts & Business] & Graduates [Fine Arts]
Date: 3/1/07
Type of Activity: Group
Learning Objectives:
1) To practice developing basic business plans quickly and
efficiently.
2) To apply experience, research area expertise, intellect
and creativity to potential Arts ventures.
3) To explore how arts ventures can be developed using the
intellectual capital of groups as opposed to individuals.
Student Evaluation Method: None.
Description: Students are given a
hypothetical Arts venture and work as a group to develop a
"bullet-point" business plan in 30 minutes. Students
reference a business plan template given previously in
class. No computers are allowed; students are expected to
draw upon their experience, creativity and research.
Instructor Comments: I'm sure this
activity might have some educator's cringing. However, the
point about this exercise is not wether the business plan
is good, feasible or complete. Rather, the idea is to allow
students an opportunity to "think quickly on their feet."
This "quick thinking" is partly intended to leverage
student's expertise and to apply new knowledge in context.
Additionally, student's are driven to think creatively and
clearly with deadlines. What I'm really looking for are the
results; in other words, innovative ideas.
Innovation in the context of this exercise reflects not
just creativity, but the group having a firm grasp on the
typical aspects of NPO and FPO operation: Product
development, marketing, securing start-up costs,
sustainability strategies, cultural knowledge, etc. It
demonstrates that students understand the status quo in the
Arts industries and how to create something both new and
potentially successful in the market place.
This is also a great way to gauge how students are
assimilating lecture material and contextualizing
information. For example, if you notice the marketing
section of each group's business plan is weak, you may want
to address that next class.
