Sunday, March 25, 2007

Business Plan Competition

If you are planning to do your MBA and after that plan to start your new venture, here is a tip for you. Before you start your school, seriously think about what you want do .Once you are sure about this dream of yours and are committed to it, ensure that throughout your MBA program, you get your Business Plan reviewed by the professors.

That is what a few of the folks in our class did. A special mention goes to Sushee who plans to start a chartered air service after his MBA. He was in my team and I have seen how passionate he is about this venture. For the last 10 months, he made it a point to get his plan reviewed by everyone who could help him with it. Queen’s provides access to some wonderful contacts and he made sure that he made some best use of it. For the past 10 months, he incorporated what we learnt at school into his business plan. Be it the management accounting concepts or the marketing strategy, or the technology strategy class or the new ventures fundamentals, he made sure that he worked with the professors on his plan.

The results are showing. His business plan has drawn a lot of interest from angel investors. And the best part is that his plan has entered the finals of the IBK Capital-Ivey case competition. He will be pitching his plan to a panel of judges made up of venture capitalists, successful entrepreneurs, consultants and academics. That for sure is fun.
You could get the contest details here


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