plan to enter. plan to win. but most importantly, plan to succeed. welcome entrepreneurs!
TRANSCRIPT
Plan to enter. Plan to win. But most importantly, plan to succeed.
WELCOME ENTREPRENEURS
!
Plan to enter. Plan to win. But most importantly, plan to succeed.
2013 Be Your Own Boss Bowl
Business planning competition for aspiring and early-stage entrepreneurs from Temple University
15th annual competition Managed by the
Innovation and Entrepreneurship Institute – a top 10 nationally ranked program
Plan to enter. Plan to win. But most importantly, plan to succeed.
BYOBB Objectives
The creation, launch and sustainability of new ventures – including small business, truly scalable enterprises and social innovation ventures – from the Temple community
To develop, improve and refine business planning skills
To drive economic development and social change in the region and beyond
Plan to enter. Plan to win. But most importantly, plan to succeed.
Social Impact
The Social Impact track is for new ventures designed primarily to create social value. Unlike a traditional business venture with their focus on profits, social ventures pursue the double bottom line of social impact and, in the best cases, financial sustainability.
For purposes of the BYOBB, a company whose primary motive is financial, but which donates a relatively small amount of money or time to social causes does not qualify as a social impact firm.
Plan to enter. Plan to win. But most importantly, plan to succeed.
Social Impact
Entries in the Social Venture Track of the BYOBB may be nonprofit, for-profit, or hybrid in design, but must:
Incorporate a measurable social and/or environmental bottom line into its mission and practices, and
Plan to attain financially self-sufficiency primarily through earned revenues (by making money)
Plan to enter. Plan to win. But most importantly, plan to succeed.
2013 BYOBB At a Glance
Three Competitive Tracks: Lower (Undergraduates) Upper (Grad Students, Alum, Faculty, Staff) Social Impact
Three Category Prizes Best written plan by a woman Best written plan by a minority Best written clean tech plan
Total value >$225,000 $145,000 cash, $25,000 Microsoft prizes, $30,000
professional services plus gift certificates, incubation space, more…
Plan to enter. Plan to win. But most importantly, plan to succeed.
2013 Prizes & Recognition
Grand Prize: $70K cash; $10K in Microsoft products, $30K in professional services, and $5K in incubation services and intensive coaching/mentoring from IEI
First Place (each track): $10K cash; 2K in Microsoft products, incubation services
Second Place (each track): $5K cash, 1K in Microsoft products, incubation services
Priority for the Temple Accelerator Program PR from Temple University, Fox School of
Business Philadelphia Inquirer, Metro, USA Today,
Entrepreneur magazine and others
Plan to enter. Plan to win. But most importantly, plan to succeed.
2012 BYOBB At a Glance
81 business plans submitted About 160 people competing
(total) 55% Upper track, 45%
undergraduates 14 schools and colleges within
Temple 143 senior executive mentors,
majority from GPSEG 283 preliminary judges Grand prize: PHmHEALTH
(Mike Mittelman, MBA ‘10) – Mobile healthcare IT platform and services addressing in home healthcare issues
Plan to enter. Plan to win. But most importantly, plan to succeed.
Past BYOBB Winners
2007 – Advanced Medical Solutions (Undergraduates, College of Engineering)
2008 – Legal Organics (Undergraduate, College of Liberal Arts)
2009 – Pit Bull Development (Upper Track, School of Tourism and Hospitality Management)
2010 – Next Engineering (Undergraduates, College of Engineering)
2011 – pureNANO (Graduate Student, Fox School of Business)
Plan to enter. Plan to win. But most importantly, plan to succeed.
BYOBB Important Dates
September 26 – Info Session October 24 – Info Session November 28 – Info Session February 12 – On Demand Mentoring
Session March 25 – Plans Due April 10 – Finalists Announced April 18 – Scrub Day - Finalist
Presentations April 25 – Finalist Presentations and
Awards Ceremony
Plan to enter. Plan to win. But most importantly, plan to succeed.
‘12 Fall Business Planning Workshops
September 4 – Legal 101 for EntrepreneursSeptember 11– Overview of Business PlanningSeptember 18 – Idea Creation and Opportunity AssessmentSeptember 25 – Matching Products & Services with MarketsOctober 2 – Competitive AnalysisOctober 9 – Marketing and Branding for StartupsOctober 16 – Strategy and Business ModelOctober 23 – Management and Team BuildingOctober 30 – Financial Forecasting and Funding SourcesNovember 1– Developing Investment Presentations (Thursday)November 13 – Entrepreneurial Sales Process
Tuesdays from 4:30 to 6:00 p.m. 503D Alter Hall
Plan to enter. Plan to win. But most importantly, plan to succeed.
Additional Temple Resources
Executives/Entrepreneurs in Residence: Glen Gaddy – Strategist in Residence Mike Jones – Legal Executive in Residence Ted LeBow – Profitability Coach, Financial Executive Lisa Peskin – Sales Executive in Residence Chris Rabb – Social Entrepreneur in Residence Ellen Weber – Angel Investor in Residence
2012-2013 Entrepreneur in Residence: Bernie Spain, Co-Founder, Dollar Express
Temple business librarians @ Paley Library Legal clinic at the Temple SBDC IEI Staff (by appt) and IEI Resource Center IEI mentor/subject matter expertise network Online articles @ www.fox.temple.edu/iei
Plan to enter. Plan to win. But most importantly, plan to succeed.
Rules & Regs & Info
Participants are encouraged to work in teams 4 person max per team Teams may be comprised of non-Temple affiliates
The business founder/CEO/main shareholder must have a Temple University affiliation
Students, alumni, staff & faculty from all of Temple’s 17 schools and colleges are eligible, plus TU Health System and other Temple organizations (Paley Library, Office of Technology Transfer, etc.)
The business plan may focus on either the creation of a new business or an already existing business (less than two years)
Plan to enter. Plan to win. But most importantly, plan to succeed.
More Rules & Regs & Info…
Plans for expansions of existing businesses are ineligible
You may revise and resubmit your plan one time, providing you were not a prior finalist & plan has been updated/upgraded
Compete in three tracks Undergraduate Upper Track: Graduate
Students/Staff/Faculty/Alumni Social Impact
Any team not comprised of solely undergrad students must compete in Graduate Student/Staff/Faculty/Alum track
Non-profit and social entrepreneurship businesses are encouraged to participate
Participants who declare their intent will receive a business plan guidebook and a Senior executive mentor upon request, and completion of a one-page “vision paper.”
Plan to enter. Plan to win. But most importantly, plan to succeed.
Senior Executive Mentor Program
One-on-one mentoring program with mentors from the Greater Philadelphia Senior Executive Group & other orgs
Two-way project-based mentoring program Mentors may not do any primary work or write
plans Mentors provide feedback, advice and counsel
Protégé or mentee: Drives the plan forward & is the responsible party Communicates regularly with their mentor Is respectful of mentor’s time and other
commitments Sticks to agreed upon schedule and due dates
To get the mentor, you agree to complete and enter the business plan. “Commit to finish.”
Plan to enter. Plan to win. But most importantly, plan to succeed.
Sections of a Business Plan
EXECUTIVE SUMMARY
COMPANY OVERVIEW INDUSTRY ANALYSIS THE TARGET MARKET THE COMPETITION STRENGTHS & RISKS
(Business and Operational)
MARKETING PLAN & SALES STRATEGY
OPERATIONS MANAGEMENT &
ORGANIZATION DEVELOPMENT,
MILESTONES & EXIT PLAN
FINANCIAL DATA & PROJECTIONS
Plan to enter. Plan to win. But most importantly, plan to succeed.
Start Early!
There are 180 days until your plans are due!
That’s about twenty six weeks Break it down into “chunks” and
stick to a schedule Allow time for re-writes, more
research, exams, glitches at work, etc.
Take advantage of winter break
Plan to enter. Plan to win. But most importantly, plan to succeed.
Suggested Timeline
Company Overview – one to two weeks
Industry Analysis – one week
Target Market – two weeks
The Competition – two weeks
Strengths and Risks – one week or less
Marketing Plan & Sales Strategy – two weeks
Operations – one week or less
Management & Organization – one week or less
Development, Milestones & Exit Plan – one week
Financial Data & Projections – two weeks
Executive Summary, Title Page, Table of Contents & Proofreading – one week
Plan to enter. Plan to win. But most importantly, plan to succeed.
Business Plan – Do’s and Don’ts
DO comply with the 15-page limit, excluding title page, table of contents and executive summary
DO use the template available on the IEI website, www.fox.temple.edu/iei
DO your homework – research! DO use spell check and a professional
writing style DO submit a plan that’s clear, concise,
compelling and complete DO proofread your document prior to
submitting DON’T skip sections DON’T turn your plan in after 3/25 @ 5 pm
Plan to enter. Plan to win. But most importantly, plan to succeed.
What Makes a Winning Plan?
Evidence of thorough research regarding market, industry and competition Market segmented properly Industry trends recognized Competitive strengths and weaknesses
addressed Direct and Indirect
A well organized, well written, sophisticated plan that makes a compelling business case “I would invest in this business”
Sound strategy and revenue model; plan is executable
Financials that are grounded in sound assumptions and which are attainable
Plan to enter. Plan to win. But most importantly, plan to succeed.
Need Help?
IEI staff Jaine Lucas, Executive [email protected] – Alums & Graduate Students Amy Yom, Associate Director [email protected] – Undergrads Entrepreneurship Facilitators: Melinda &
Jasmin IEI Innovation Lab & Resource Center Mentor meeting rooms & IEI Innovation Lab “You can do it. We can help.”