2016 Be Your Own Boss Bowl Business planning competition for aspiring and early-stage entrepreneurs...
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![Page 1: 2016 Be Your Own Boss Bowl Business planning competition for aspiring and early-stage entrepreneurs from Temple University 18 th annual competition Managed.](https://reader036.fdocuments.net/reader036/viewer/2022062423/5697c0231a28abf838cd3f01/html5/thumbnails/1.jpg)
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2016 Be Your Own Boss Bowl
• Business planning competition for aspiring and early-stage entrepreneurs from Temple University
• 18th annual competition• Managed by the Innovation and
Entrepreneurship Institute – a top 15 nationally ranked program
• One of the richest-prize competitions in the country
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BYOBB Objectives
•Launch companies•Learn new skills•Create economic impact
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BYOBB at a glance• Many prizes - 13 in total!• Tied to requirements of accelerators, investors
• Shorter business plan format• Pitch deck required• Two minute video optional• Business Model Canvas optional
• Follow-through (Accelerator)• It’s all online• Need to use Lean Startup concepts
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• Summer Accelerator program• Legal, accounting, marketing services• Temple PR
Prizes and RecognitionTOTAL PRIZES OVER $200,000
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BYOBB Important Dates• Nov 23rd – Start Signing up for Mentors
• Jan 21st, Info Session, 4 – 5pm
• Jan 25th, Info Session (Webinar), 12 – 1pm
• Feb 5th, Deadline to Sign Up for Mentor
• March 10th, On-demand Mentoring, 4 – 5:30pm
• March 14th, On-demand Mentoring, 12 – 1:30pm
• March 16th – Plans Due
• April 7th – Finalists Announced
• April 14th – Pitchdeck coaching sessions for Finalists
• April 21st – Final Presentations and Awards Ceremony
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Who is Eligible?
• Leader of the team must have a Temple University affiliation
• All Temple University students, alumni, staff & faculty • New business or an existing business (less than two
years) that has not yet raised more than $50k from external sources.
• Cross-discipline teams are encouraged
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Tracks• Compete in three tracks
- Undergraduate Students
- Graduate Students/Staff/Faculty/Alumni
- Social Impact
• Any team not comprised of solely undergraduate students must compete in Graduate Student/Staff/Faculty/Alum track
• Social entrepreneurship businesses are encouraged to participate
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Social Impact• The Social Impact track is for new ventures
whose primary focus is 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 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.
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Social ImpactEntries in the Social Venture Track of the BYOBB must:
• Incorporate a measurable social and/or environmental bottom line into its mission and practices, and
• Plan to attain financial self-sufficiency primarily through earned revenues
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There’s Help Available
Blackstone
Launchpad
Submit Opportunity
Description
Assigned a
Mentor
Submit Plan
Winners Participate in
Accelerator
Virtuous Cycle
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Senior Executive Mentor ProgramUpon completion of a one-page “opportunity description”, participants will receive a business plan guidebook and a Senior executive mentor.
• 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
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Opportunity Description
One-page document answering:• What problem are you solving and why is it
awesome?• What is your product/service?• Who is on your management team?• Who are your competitors and why are you better?• What type of help could you use from a mentor?
(You can use your Idea Competition Submission)
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What Do You Need to Enter?
• Business Plan – 10 pages max• Business Model canvas – optional• Pitch Deck• Two-minute video presentation -
optional• Financials
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Sections of the Business Plan• Elevator Pitch
• Opportunity
• Product/Service
• Management Team
• Market Opportunity
• Competitive Landscape
• Execution Plan
• Road Map
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Financial Section
• Financials• Revenue Model/Financial Assumptions• Financial Projections – 3 years (attachment)
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Judging Criteria• Must represent realistic and marketable ideas.
• Evidence of testing assumptions
• A well-organized, well-written, sophisticated plan that makes a compelling business case
• Evidence of thorough research regarding market, industry and competition
• Sound strategy and revenue model; plan is executable• Attainable financials that are grounded in sound assumptions• Consistency throughout plan • Quality of Presentation (Finalists only)
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Business Plan – Do’s and Don’ts
• DO comply with the 10-page limit
• 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 3/16 @ midnight
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Start Early!
• Plans are due in about 3 ½ months– start now!• 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
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Past BYOBB Winners• 2009 – Pit Bull Development (Alum, School of
Tourism and Hospitality Management)
• 2010 – Next Engineering (Undergraduates, College of Engineering)
• 2011 – pureNANO (Graduate Student, Fox School of Business)
• 2012 – PHmHealth (Alum, Fox School of Business)
• 2013 – Neighborhood Foods (Alum, Fox School of Business
• 2014 – Guiding Technologies (Professor, College of Science and Technology
• 2015 – Rates for Us (Alum, Fox School of Business)
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’15 Spring Business Planning Workshops
4:30 to 5:30 p.m. 503D Alter Hall
Date Topic
Jan 27 Assessing Ideas
Jan 28
Feb 3 Creating Winning Business Models
Feb 10 Market Segments and Value Propositions
Feb 18 Cash Flow, Profits and Financials
Feb 19 Competitive Analysis
Feb 24 Pitch Decks (May be repeated)
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Additional Temple Resources
• Executives/Entrepreneurs in Residence:• Temple business librarians @ Paley Library• Legal clinic at the Temple SBDC• Business Communication Center (Fox Students)• Writing Center• Business Plan classes• IEI Staff (by apt) and IEI Resource Center• IEI mentor/subject matter expertise network• Online articles @ www.fox.temple.edu/iei
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Be Bold
Be Resourceful
Be Innovative
Be Your Own Boss#BYOBB2016