2015 Be Your Own Boss Bowl

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2 2015 Be Your Own Boss Bowl Business planning compe//on for aspiring and early- stage entrepreneurs from Temple University 17 th annual compe//on Managed by the Innova/on and Entrepreneurship Ins/tute a top 15 na/onally ranked program One of the richest- prize compe//ons in the country

3 BYOBB Objectives Launch companies Learn new skills Create economic impact

4 What s New This Year? More 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

5 Prizes and Recognition TOTAL PRIZES OVER $200,000 Summer Accelerator program Legal, accounting, marketing services Temple PR

6 BYOBB Important Dates December 3rd Info Session, 12-1pm December 4th Info Session, 5-6pm January 20th Info Session, 5-6pm March 17th Plans Due April 1st Finalists Announced March10th On-Demand Mentoring Session, 5-7pm March 11th - On-Demand Mentoring Session 12-2 pm April 8th Scrub Day - Finalist Presentations April 16th Final Presentations and Awards Ceremony

7 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

8 Compete in three tracks 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

9 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.

10 Social Impact Entries 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

11 There s Help Available Blackstone Launchpad Submit Opportunity Descrip/on Assigned a Mentor Submit Plan Winners Par/cipate in Accelerator Virtuous Cycle

12 Senior Executive Mentor Program Upon 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

13 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)

14 What Do You Need to Enter? Business Plan 10 pages max Business Model canvas optional Pitch Deck Two-minute video presentation - optional Financials

15 Sections of the Business Plan Elevator Pitch Opportunity Product/Service Management Team Market Opportunity Competitive Landscape Execution Plan Road Map

16 Financial Section Financials Revenue Model/Financial Assump/ons Financial Projec/ons 3 years (asachment)

17 Judging Criteria Must represent realistic and marketable ideas. 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)

18 Business Plan Do s and Don ts DO comply with the 10-page limit DO use the template available on the IEI website, 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 midnight

19 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

20 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

21 2014 BYOBB At a Glance TO BE UPDATED 163 registered teams About 180 people competing (total) 55% Upper track, 45% undergraduates 13 schools and colleges within Temple 103 senior executive mentors, majority from GPSEG 213 preliminary judges Grand prize: Guiding Technologies (John Nosek Faculty CST) helping individuals with autism reach their full potential at less cost.

22 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

23 15 Spring Business Planning Workshops 4:00 to 5:30 p.m. 503D Alter Hall Date Topic Jan 27 Assessing Ideas Jan 28 How I Won the BYOBB Brian Linton (12:00) Feb 3 Crea/ng Winning Business Models Feb 10 Market Segments and Value Proposi/ons Feb 18 Cash Flow, Profits and Financials Feb 19 Compe//ve Analysis Feb 24 Pitch Decks (May be repeated)

24 Additional Temple Resources Executives/Entrepreneurs in Residence: Temple business 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

25 Be Bold Be Resourceful Be Innovative Be Your Own Boss #BYOBB2015