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Description
Description
This course examines the impact of drones on our economy and society while reviewing the necessary steps for starting a drone business. Topics include but are not limited to the analysis between advances in drone technology and the creation of wealth from new business opportunities that result from technical innovations, legal and liability issues, regulatory considerations, ethical and societal implications, operational considerations, and technical advances and limitations.
Credits - 3
Prerequisite - FAA Remote Pilot Certificate
Course Content
Course Content
Week 1- Economic Impact
Week 1- Economic Impact
- Read
- Watch
- Classwork
Watch the two Youtube videos
Guided discussion - Whole group instructor -ed discussion focus discussion on the economic impacts of the unmanned aircraft systems, impacts on society, and applications in various professional fields.
Use an Internet search engine like Google to find articles that focus on the economic impacts of unmanned aircraft systems. Create a list of three articles, include the web address to the article, a brief summary, any statistics stated in the article. Be prepared to share two interesting facts from the articles you listed.
- Homework
Read the following articles
Make a list of 6 predictions made in the articles.
Use an Internet search engine like Google to find evidence which either backs up or refutes each claim. Cite the source of your evidence.
Week 2- Applications
Week 2- Applications
- Read
Article - Drones for Inspection
Article - Drones for Inspection
Article - Drones for Business Intelligence
Article - Drones in Agriculture
Article - Drones in Agriculture
Article - Drones in The Oil and Gas Industries
Article - Drones for property inspections
- Watch
- Classwork
Watch the following video: InterDrone Keynote 2019 featuring Michael Chasen, CEO of PrecisionHawk
Instructor-led whole group guided discussion focusing on various applications of sUAS technology.
- Homework
Read the following articles:
Article - Drones for Inspection
Article - Drones for Inspection
Article - Drones for Business Intelligence
Article - Drones in Agriculture
Article - Drones in Agriculture
Article - Drones in The Oil and Gas Industries
Article - Drones for property inspections
Write a one-page summarizing different applications of sUAS technology, the summary should include but not only limited to the information found in the articles.
Week 3- Executive Summary
Week 3- Executive Summary
- Watch
- Classwork
Review steps for starting a business, followed by an instructor-led whole group discussion on business planning, specifically focusing on executive summary and mission statement writing.
Use an Internet search engine like Google to search for articles/videos focusing on business mission plan writing. Create a list of 3 examples/templates of various business plan executive summaries.
- Homework
Write an executive summary for your business including an executive summary and mission statement. Be sure to include the elements of the summary discussed in class and listed in the articles. Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.
Week 4- Company Description
Week 4- Company Description
- Read
- Watch
- Classwork
Watch the following videos, followed by an instructor-led whole group discussion focusing on writing a business description. Use an Internet search engine like Google to find business description examples and templates. Write a rough draft of your business description.
- Homework
Re-watch the following video:
Complete your business description, Use your company description to provide detailed information about your company. Go into detail about the problems your business solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve. Explain the competitive advantages that will make your business a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to boast about your strengths.
Week 5- Market Analysis
Week 5- Market Analysis
- Read
- Watch
- Classwork
Watch watch and read the following video(s) and websites followed by an instructor-led whole group discussion focusing on writing a market analysis. Use an Internet search engine like Google to create a list of 6-10 'competitors' (businesses similar to your business). Include a link to their website and a brief summary of their services or products.
- Homework
Write a draft of your Market Analysis including the following:
Demand: Is there a desire for your product or service?
Market size: How many people would be interested in your offering?
Economic indicators: What is the income range and employment rate?
Location: Where do your customers live and where can your business reach?
Market saturation: How many similar options are already available to consumers?
Pricing: What do potential customers pay for these alternatives?
Week 6- Market Analysis Cont...
Week 6- Market Analysis Cont...
- Classwork
Writing workshop - Write a final draft of your market analysis
Week 7- Organization & Mgmt.
Week 7- Organization & Mgmt.
- Read
- Watch
- Classwork
Instructor-led whole group discussion focusing on writing the organization and management section of your business plan. Write a summary statement stating the organizational structure for your business, in the summary include a rationale for the structure you selected.
- Homework
Write the Organization and Management section of your business plan. Describe the legal structure of your business. State whether you have or intend to incorporate your business as a C or an S corporation, form a general or limited partnership, or if you're a sole proprietor or LLC. Use an organizational chart to lay out who's in charge of what in your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes and CVs of key members of your team.
Week 8- Services/Products Offered
Week 8- Services/Products Offered
- Read
- Watch
- Classwork
Watch watch and read the following video(s) and websites followed by an instructor-led whole group discussion focusing on writing the products and services offered as part of your business plan. Write a list of the services your business will offer, research software tools, and examine their functionality for post-processing data to help build your list. To help with the budget section of your plan, include in your list the hardware and software needed to perform the services.
- Homework
Write the Products and Services section of your business plan. Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like.
Week 9- Marketing
Week 9- Marketing
- Reading
- Watch
- Classwork
Read the websites and watch the videos listed, followed by a whole group instructor-led discussion focusing on developing a marketing plan. Use a search engine like Goolge to find examples and templates for marketing plans. Create a draft marketing plan. Your goal in this section is to describe how you'll attract and retain customers. You'll also describe how a sale will actually happen. You'll refer to this section later when you make financial projections, so make sure to thoroughly describe your complete marketing and sales strategies.
- Homework
Complete your marketing plan.
Week 10- Funding
Week 10- Funding
- Reading
- Watch
- Classwork
Whole group instructor-led discussion focusing on funding sources, budgeting, and startup costs. Review the information located at SBA: Funding Programs. Create a list of possible funding sources, in the list, including detailed information about the funding source and why you selected the source for your list.
- Homework
Download and use the template located at Startup Expenses Template to begin to develop a startup budget. You may need to adapt the template to meet the needs of a drone business. If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for. Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.
Week 11- Funding
Week 11- Funding
- Classwork
Continue working on your budget.
- Homework
Complete your budget
Week 12- Financial Projections
Week 12- Financial Projections
- Read
- Watch
- Classwork
Instructor-led whole group discussion focusing on writing the Financial Projections of your plan. Begin writing the Financial Projections section of your plan.
- Homework
Complete the Financial Projections section of your plan. If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for. Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.
Week 13- Finalizing Your Plan
Week 13- Finalizing Your Plan
- Read
- Watch
- Classwork
Finalize your plan
- Homework
Finalize your plan and begin working on your presentation.
Week 14- Presentations
Week 14- Presentations
Writing Workshop - Class time devoted to preparing final plan and presentation
Week 15- Presentations
Week 15- Presentations
Presentations
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