TPC-Journal-V3-Issue1

25 had obtained a Ph.D. in counselor education and supervision and spent over 15 years as a leadership development consultant to persons in positions of leadership in private industry. He had owned his own successful consulting firm for 12 years, possessing extensive training in executive coaching, consulting and leadership enhancement. For the Entrepreneurship in Clinical Settings course, students were charged with formulating the specific components of a business plan (see Table 1), which required them to creatively align their own interests with the plan elements while accounting for practical factors that would facilitate or hinder the success of their plan. To meet this goal, each student developed a series of proposals to address the assigned problem, and then worked in small groups to challenge one another through a cyclical feedback process enhanced through the progressive acquisition of relevant knowledge. The PBL cyclical feedback process is hallmarked by the development of multiple iterations of proposals in response to the problem presented by the course instructor (Brocato, 2009). The proposals are presented for peer, self and instructor feedback in a repeating cycle until an end or desired product is developed. Table 1 Business Plan Outline Assignment Description Length Vision Statement A statement capturing the overall focus of the practice 10 words Mission Statement A brief overview of the services offered and the purpose of these services 20–50 words Elevator Pitch A concise one- or two-sentence statement that students can share with others to explain their private practice 60–100 words Executive Summary A brief overview of the contents of the business plan 1–2 pages Basic Business Concept A description of the student’s specialties, how the private practice is unique, and any limiting factors 1 page Feasibility Assessment A reiteration of the basic business concept, a list of competitors, competitive advantage, industry trends supporting the small business idea, demographic trends, maturity of the idea, and regulatory hurdles to overcome 1–2 pages Value-Proposition The services the student will offer, the timeframe of services offered (e.g., 1.5-hour intake and 1.0-hour sessions), the primary general value of the services offered, the specific services offered, what clients must do, and the price of services offered 1–2 pages Gauging the Market The size of the market in the desired location, market potential, demographic of the client, their barriers to purchase, the potential for getting into the market, the competition (e.g., a list of competitors and the services they offer) in the desired location, the saturation of the local market, and barriers to entering the market 1–3 pages Organizational Structure Key personnel required and related service providers 1 page Legal Structure Legal form of the business (LLC, LLPC, S-Corp, etc.) 1 page Value-Delivery Roadmap The activities and/or tasks of the business adding value to the business (e.g., the design of the program, preparation, marketing, first contact with the client, client intake, professional service, documentation, auxiliary services provided, and termination) 2–3 pages Financials A two-year financial overview including anticipated income, expenses (i.e., accounting, legal, advertising, furnishings, rent, education, etc.), and anticipated profit 1 page Principal’s Profile Qualifications/Resume Critical Success Factors - The strengths and limitations of the student Length varies Appendices Any other materials supporting the student’s business plan (e.g., resources, references, etc.) Length varies The Professional Counselor \Volume 3, Issue 1