Business Plan Competitions

The idea of a business plan competition first started in the 1980''s at the initiative of some MBA students from Texas and has increasingly gained popularity. Such events happen yearly and rejoice a great affluence of contestants, which highly increases their competitiveness.

Competitions

Organized by Universities

* Babcock Elevator Pitch Competition - Wake Forest University

* Enterprise Creation Competition - Ball State University

* Moot Corp. Competition - University of Texas

* Duke Start-Up Challenge - Duke University

* IBK Capital Ivey Business Plan Competition - University of Western Ontario

* OFC Venture Challenge - Clark Atlanta University

* Venture Adventure - Colorado State University

Held by business organizations

* Jungle Business Plan Challenge - Jungle Media Group

* S.E.E.D. Business Plan Competition - TechKnowledge Point Corp.

* Venture Bowl - National Institute for Entrepreneurship and Carrot Capital

You will wonder probably what exactly do these competitions consist of and where does their popularity come from?

Organizers

Although the organizers and sponsors are usually universities, there are several business organizations that host business plan competitions.

Contestants

Business plan competitions are student entrepreneur events. The contests are organized either for graduate or undergraduate students and it does not necessarily have to be MBA students. The contestants may be student scientists, engineers, MDs or other specialists who strive to create a viable business plan hoping to enter such competitions.

The popularity of such contests also reached some other layers: business plan competitions are also organized with the purpose of giving people the possibility of starting a business. Business plan competitions usually happen as intercollegiate events, but this contest formula has also been taken over by companies who want to facilitate the founding of new businesses.

It is also the case of Ford Motor Company that sponsored the Ford BEST (Building Entrepreneurial Success Today) Business Plan contest in association with SCORE "Counselors to America''s Small Business" and DiversityInc. The BEST Business Plan contest took place in the winter of 2004 and addressed all U.S. citizens over 18. All the submitted business plans were judged by an advisory panel from SCORE.

Why the need to participate in such events?

Besides the cash prizes, that, although quite important, will rarely suffice for financing the foundation of a company, there is the advantage of learning from this experience - this will enrich students'' knowledge in a greater degree than the mere theoretical aspects they learn from lectures.

Not in the last place, there is the valuable opportunity of pitching the business plans to quite a lot of investors in a very short time.

How Do Winners Benefit?

Innitially started as a valuable opportunity for the students with bright business ideas to express them within contest conditions, the business plan competitions have become a resource for some investors. There are two categories of results of such competitions:

You would say that choosing from purely theoretical plans would be highly improbable for a venture investor. Yet, that''s how many successful firms came into being.

1-800 Contacts

A mail-order contact-lens-replacement company in Draper, Utah. The business plan won the 1995 Brigham Young University tournament in Provo, Utah.

Attorneys @ Work

An Internet recruiting and placement service in Atlanta. Competition: 1996, University of Georgia. SensAble Technologies Inc.

In Cambridge, Mass., won the MIT competition in 1995. Epotec Inc.

Competition: 1997, University of Chicago.

However, having good results in an important competition does not necessarily imply launching a company successfully. There is the risk that some investors consider your plan an academic exercise before really studying it and thus the percentage of trust is substantially reduced.

Laura Ciocan writes for http://www.businessplanning.ws where you can find more information about business planning
Please feel free to use this article in your Newsletter or on your website. If you use this article, please include the resource box and send a brief message to let me know where it appeared.
Contact:lauracio@gmail.com', 122, 'Business Plan Competitions, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'Business Plan Competitions plus articles and information on College-University

College Bound: The Organized Dorm

I can still remember my shopping list for my first dorm room. Years ago we kept it simple -- the must have storage staple was the old dairy crate and that was pretty much it. Those dairy crates organized everything from sweaters and sweatshirts to books. Today the storage choices are almost unlimited (although the budget may not be...), so outfitting a dorm room or first apartment can be a bit overwhelming. I have asked our summer intern (a college student) to share some organizing challenges she has experienced first hand. We have divided the typical college living space into 5 areas:

- Common area
- Kitchen and bath area Desk
- Bedroom or sleeping area
- The always too small and functionally challenged closet.
- Common Area

Question: "A lot of dorm rooms are small and have one common area. What would you suggest to help students keep their common area organized? Also, can you suggest some useful products for storing food, movies, and CDs?"

Answer: Common areas can be a tricky, because you have now entered the zone where your belongings are community property. I would suggest a minimalist approach. If it is for a dorm, keep it simple and portable. There are inexpensive multimedia racks, drawers and even cubes (the "new" dairy crate!) available for storing CDs and movies.

Trunks can provide additional table surface, store out-of-season blankets and sweaters, and even make a good hiding place for your spare laundry and bathroom supplies. If you are furnishing an apartment, make it a group project so that everyone is involved with choices and expense sharing.

Many students store their snacks and munchies where they hang out, so just remember to label them and stay clear of glass. Many discount stores have some really cool and inexpensive dry storage options.

Kitchen and Bath

Question: "Can you give advice on how to keep your stuff separate from your roommates in both the kitchen and the bathroom?"

Answer: In the kitchen -- label, label and label. People are less likely to help themselves to something when it is clearly marked. An alternate system is to divide the shelves in the refrigerator ? maybe one for each person and one common shelf? If your budget permits, purchase a set of food storage containers and clearly label them with your name and any warning you may want to include. Unfortunately there will always be those few who will help themselves to anything and everything, so don''t sign a lease with them next year.

There is never enough room in the bathroom, so keep it simple and portable. Buy a shower tote or caddy; a proven product that has been around for years. I recommend girls go for the largest one you can carry while most guys could probably make do with the smaller ones. If finding a surface is an issue consider a hanging dopp kit, which can be easily hooked on to a towel rack. Don''t forget about your towels; consider large hooks for hanging wet towels. Extra towels and toiletries can be stored in a simple 4-drawer storage cabinet also available at many discount stores and other retailers.

The Desk

Question: "What would you suggest for keeping your desk neat and school work organized?"

Answer: There is a wide range of great things on the market today to keep your desk clutter free and functional ? you are only limited by your budget and your imagination! Consider increasing the surface area of your desk by placing your notes and class papers in a file cart or create a hanging file box that can fit neatly under or on the side of your desk. Organize your desk by keeping like things together or categorize by subject. Utilize a bulletin board with a calendar for important dates and project deadlines, so they won''t be missed or forgotten.

The Bedroom

Question: "Do you have any suggestions for students on how to maximize this space and still keep as much of your personal belonging in this small space?"

Answer: You can be as creative with this space as you want to be. Take advantage of the total area, including under the bed, behind the door, the walls, and even the college issued furniture. Look for wide underbed drawers; they make the perfect secondary storage unit. Hang a shoe bag behind your door; these pockets can be used for more than shoes -- socks, extra toiletries, small camera, film, batteries, water bottles, and yes even that extra case of beer. Hang a few hooks on the wall or if allowed install a small shelf. If you have a large desk, consider adding a hutch; the additional shelves are very convenient and accessible when working at the desk.

The Closet

Question: "How do I make the most of this very small space?"

Answer: Years ago my first dorm closet was about 3 feet wide and 9 feet tall. An extremely narrow area in which to cram 9 months worth of clothes and shoes and remember this was the time in my life when I agonized over every clothing detail. Today that limited area would be a snap, because my "mom uniform" does not require a lot of space.

Seriously, most of the time closet space comes is at a premium, so you must utilize every inch. The right type of hangers is key ? an item like a multi-tiered shirt or pants hanger can save space and have clothes fit neatly in small spaces. Consider adding another rod for short hang items since most college wardrobes are heavy on short hang pieces. Another product used to increase space and keep things from tumbling down is stacking shelves. If you prefer your sweaters and sweatshirts at eye level, use a hanging sweater bag that attaches to the closet rod. Don''t forget about the floor space -- short stacking baskets work well in this space.

Today''s college student may have a lot more organization and storage options than we did in years past, but with a small budget, some advance planning, clear lines of communication with roommates and a sense of humor, organizing their space can be easily accomplished and they can focus on what''s really important about college. I was referring to learning ? what did you think I meant?

©2004 Bridget Messino and Emily Steinecker

About the authors: Bridget Messino is a Professional Organizer, speaker and co-owner of Clutter Free Living, Inc. Her work frequently appears on many Internet sites, on her own organizing site Clutter Free Living (http://www.clutterfreeliving.com), as well as in her monthly Home Organizing Newsletter How to Be Clutter Free. Subscribe to the FREE monthly e-newsletter by sending a blank e-mail to mailto:cflnews-subscribe@topica.email-publisher.com

Emily Steinecker is a senior at the University of Wisconsin, interning with Clutter Free Living for the summer. Organizing has always been a passion of hers and her dream is to become a professional organizer.', 122, 'College Bound: The Organized Dorm, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'College Bound: The Organized Dorm plus articles and information on College-University

Parents: Take the SAT Challenge!

I keep a box of tissues on the table where I tutor because, as an SAT tutor and college application consultant, I listen to high school juniors and seniors who are so overwhelmed by college pressure that they begin to cry. Not just girls. Not just Ivy League aspirants.

High school students are always convinced their parents don''t understand them. This time the students are right. Parents don''t understand because the college admission process is so much more competitive than it was when most parents applied to college.

These are the ten things I wish I could tell parents:

1. I am convinced that parents have to walk a mile in the student''s moccasins to gain some appreciation for the stress the students are under and to reverse the tension at home. If parents will take an SAT practice test they will feel some of the same anxiety, cringe at their results, and discover that the test is hard. Instead of piling 25 pounds of SAT study books on the desk, parents can commiserate with students over missed problems. Parents and students can become allies rather than adversaries as they face the college admission process.

2. Hire SAT prep tutors who focus on the applicable academic material rather than just the tricks. Increasing a student''s academic preparation for the test in addition to teaching the tricks increases their confidence on the test and in the classroom; teaching only the tricks makes students more insecure because they are relying on tricks rather than on actual knowledge.

3. Have the tutors keep the parents informed about each session so that the parent tracks progress with the tutor rather than pestering the student for information.

4. Have the student try the ACT. All colleges accept it and some students do better on it than on the SAT.

5. Make learning fun. For example, have the students memorize vocabulary using the book Vocabulary Cartoons by Sam Burchers, et al. Also, have the student do the crossword and other word puzzles in SAT Vocabulary Express, the fun book of word puzzles that will increase SAT scores. I wrote it with Michael Ashley, a nationally known puzzler, so that our students would learn to play with words, an important skill for the new SAT.

6. Emphasize getting good grades rather than good SAT scores. Bs in honors classes are better than As in regular classes.

7. Hire an independent college counselor who will work with the family to create a realistic college list, brainstorm for essay topics, establish deadlines for the student, and check all college applications. High school college counselors are overworked and do not have the time to walk families through the process.

8. Realize that the schools parents attended may not be within reach for their child. The number of high school students planning to attend college has increased dramatically; the student may be well qualified for a particular college and may still not get in.

9. Look for colleges where the student will thrive academically and socially. Choosing colleges based on their name recognition and prestige value is a formula that will increase stress, not decrease it. Everyone else wants to go to those schools, too, making them even harder to get into; they are not necessarily the best place for the student. Loren Pope''s book, Colleges That Change Lives, is a good place to start.

10. Support your child through a difficult process. Leave the prodding, nagging, and yelling to the tutors and college counselor. The independent college counselor will tell the student to work harder so the parent doesn''t have to. Why ruin the student''s last year at home?

Parents can make decisions so that senior year is not be so fraught with anxiety that family members begin to avoid each other. And, I hate it when my students cry.

Jacqueline Byrne
Author, SAT Vocabulary Express (McGraw Hill, 10/04)
Partner, Ivy Educational Services, Scotch Plains, New Jersey
http://www.ivyeducationalservices.com', 122, 'Parents: Take the SAT Challenge!, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'Parents: Take the SAT Challenge! plus articles and information on College-University

Distance Learning: Balancing Your Education and Busy Lifestyle

Distance Learning is a priority for most who have already set their lives out in one way or another in that their responsibilities have been laid out, and in quite a few cases, would not allow for regular College schedules. This is taken into consideration when looking for a place to study, and this shouldn''t mean below par education. It should mean convenience for those interested in education and furthering their portfolios.

Student Commitment

Distance Learning requires a certain amount of commitment as the student must schedule the time to study. This is also reflective in their work as they are not going to afford the time unless genuinely interested in the subject matter. The work from these students shows a clear interest in their progression, and therefore their time is not wasted on courses that they are only taking for UKAS points.

Flexibility

A high standard is reached as there is very little disruption in the pupil''s life, and therefore they find that they are able to concentrate on the subject matter fully. These courses are not as expensive as those that have to hire out a classroom, and with the ''email'' style of assessment, the cost to complete their course assignments is inconsequential. There is no waiting for weeks for their assessments to be returned to them, and this makes it easier for the student to get on with their work at their own pace. These courses fit into lifestyles as it is usually humanly impossible to gauge when a situation will arise that takes a student away from their studies, but with the Distance Learning option, these students do not have the worry of catching up, or even having to loose out on their whole course and fee because there has been a glitch in their schedule. The course can be put aside, and picked up when the situation is eradicated. For those who travel for work, their course can be taken with them, affording them the time to continue on with their studies.

Different options for different lifestyles

This form of education is taking a front seat for those interested in continuing study after settling into a career, or starting a family. There are numerous reasons for not being able to put your life on hold to study a preferred topic, and this option is sometimes the only way people are able to get the training they need. This should not mean that these people have to put up with inferior courses, or exorbitant fees. For those who are unable to leave their homes, or not able to physically enrol on classroom taught courses, this form of education plays a paramount importance in their lives. Oxford College ODL and Oxford Distance Learning have devised a scheme for the visually impaired by designing their courses specifically for these people''s needs, and they are in the process of setting up a program to fit into those people''s lives that have difficulty in finding a course that caters for their special needs.

Grading

Distance learning courses are not easy. Because the student is not required to attend classes, it is imperative that a sound assessment of their absorption of the materials is obtained by the tutor, and this is only obtained through assignments that are usually more in depth than the usual grading process that is awarded through classroom taught courses. This takes it''s form by enabling the student into not just learning about a given subject, but also showing their understanding of each individual step in essay form which lends to their overall grade. This is particularly important to the student, as the material is not the only information that needs to be taught in a given subject. The student needs to be able to question the material, and use their own reasoning when it comes to analysing what they are asked to absorb which keeps them interested in the course work and sees that they feel more involved with the process of their learning.

In the words of Mike Tomlinson, former chief inspector of schools,

''Too much time is spent preparing for exams which could be used for learning''.

Written by Angela Williams, Education Standards Reviewer ''UK Education Today''. Distance Learning Courses can be enrolled via http://www.oxforddistancelearning.com. This online college has been recognised in the UK for offering the "best tutoring program to date".', 122, 'Distance Learning: Balancing Your Education and Busy Lifestyle, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'Distance Learning: Balancing Your Education and Busy Lifestyle plus articles and information on College-University

Building Interaction Into Your Online Course

You''ve already decided that you''re ready to author online and you have your content organized. Now it''s time to face the ultimate challenge in online learning - making it interactive!

Interaction in online courses is a two-edged sword. On one hand you want students to participate. This enhances their learning by letting them question and discuss issues in the course. On the other hand, as the instructor, you need to decide the level of interaction you want to have with each student - and build your courses accordingly.

As an illustration, let me relate a poor choice I made in a course I wrote several years ago. Because I wanted everyone involved, I required that each student post at least one message per week to the discussion group. In addition, I required that they respond to two other messages. Simple? Yes. But because I had decided that my level of involvement was to respond to every posting, I was faced with 3 messages for every student every week - and this was only the minimum requirement! I soon found myself bogged down in responding to an overwhelming number of messages.

To decide on your level of involvement, let''s look at 5 levels of interactions you can provide.

1. Respond to every email. At this level of interaction, you are reading and responding to every email or discussion sent. Beware. While this may be effective at the beginning of a discussion when there is little interaction, you''ll soon be overwhelmed just responding to and encouraging students.

2. Respond to every nth email. This is a more rational view. Here you can decide to pick every 5th posting and respond to it. The danger is that you''ll miss a student''s best posting or that you''ll miss an important question.

3. Respond to 1 message per student per week. You can set the expectation that you''ll welcome questions from everyone, but that you''ll only guarantee a response to one per week. That will put the burden of composing an effective message on the student''s shoulders, rather than just jotting off a quick question every time they think of it.

4. Post provocative questions. This is a great way to get a discussion started. If you choose this route, you may choose not to participate in the discussion yourself - but instead, just summarize it at the end - or not.

5. Employ help. This may be a Teaching Assistant, a mentor, students who have taken the course in the past, etc. You may also choose to separate the types of correspondence - for example, one person may cover technical questions, while another handles course mechanics and you take the content questions.

Now that you''ve decided on your level of involvement, it''s time to design the exercises. Recognize that almost any type of exercise you use in face-to-face training has an online counterpart. So be creative - and try your ideas. You can even ask your fellow instructors for help by saying "In an instructor-led course we would do such-and-such for this lesson. What would you suggest we use to replicate that learning online?"

Keep in mind that the format of the course you are creating will help determine the appropriateness of an interactive exercise. For example, if you have a rolling enrollment, self-paced course where students sign up and work through the materials at their own pace, it may be difficult to assign them team activities.

To get you started here are some ideas for interactive exercises. These cover a variety of levels of interaction, so choose your favorites.

Polls and surveys - ask a series of questions, then summarize the results for the participants. This can be done with a survey tool or you can use a multiple choice exam. Poll early and often. Your first poll might be the type of computer participants use, how they connect to the Internet, and their level of expertise in computer skills. This provides good feedback to you and gives them a profile of the "average" student.

Go and do - give students an assignment to do offline. Then ask them to come back and use one of the other techniques (reflection, chat, summaries) to report on their activities.

Read and react - give students an article, a series of websites, or other assignment. Then ask them to write a short reaction paper based on their readings.

Reflection - ask each student to use their personal note space to reflect on reading/group discussions.

3-word summary - ask each student to summarize their thoughts in 3 words in the discussion group. Others can ask for clarification.

Teams - use teams to create small discussion groups. Then ask one person from each team to summarize the discussion in the larger discussion area.

Office hours - use a chat to hold weekly office hours. Just tell everyone when you''ll be "in", then wait for the questions. As an alternative you may decide to offer a chat time to a smaller group or team of students - either to encourage more interaction or to handle what would have been an overwhelming amount of interaction.

Expert panel - invite one or more experts to participate in a live event such as a video or audio conference. Take questions from the audience. Then continue the discussion with the discussion group. If possible, invite the experts to participate in the discussion.

You will continue to discover new interactive exercises that you use with your courses. For a full course on the topic, send an email to elearning@TechTamers.com

Dr. Jeanette Cates is an Internet strategist who works with experts who are ready to turn their knowledge and their websites into Gold. Her reputation as a speaker and trainer has earned her the title of The Technology Tamer. With more than 20 years in instructional design and elearning, Jeanette shares her news and views in OnlineSuccessNews.com', 122, 'Building Interaction Into Your Online Course, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'Building Interaction Into Your Online Course plus articles and information on College-University

Choose the Delivery Mode for your e-Learning Course

There are so many ways to deliver instruction online that the topic warrants its own lesson. In fact, deciding how you are going to deliver a course is critical to the way that you design and develop the course!

Your first decision is whether or not you will deliver the course "live" or in a synchronous mode. If you deliver it live, it means that you and the students need to be online at the same time. There are numerous courses delivered this way. One of the oldest models for this is a telephone course.

You can also deliver a teleseminar, which is a fancy way of saying a course via telephone. In a teleseminar, everyone calls into a central number where there is a "telephone bridge". The bridge can handle many simultaneous connections, so everyone can hear one another. And because everyone pays their own long distance bill to the bridge, it''s an affordable technology to use. Bridge pricing varies, but if you''re paying over $20 per hour to rent the bridge, then contact us and we''ll put you in touch with a more reasonably priced vendor!

A variation on the telephone seminar is a video conferencing course. You can use a dedicated video conferencing system or some of the newer internet-based web cameras. But recognize that unless everyone is on a fast line (cable or DSL), the video quality will be disappointing. In fact, unless there is a reason that you need to see one another, I always recommend audio conferencing instead. A good example of the use of audio conferencing is at wizetrade.com where they offer a weekly tutorial using internet audio conferencing. (Click on support to see the weekly schedule. You can tune in free to see how it works.)

Other vendors provide a blended model of live telephone with live web. Three of the largest vendors in this space are webex.com , centra.com , and letsconference.com . For each of these, you call a telephone number to get the audio, then tune into a website to see the slides and other accompanying materials. Some services also offer a web audio option, so that no one needs to pay a long distance fee. Many of these vendors have also included enhancements such as live polls during the lesson, a "follow-me" type of Internet tour of sites, and the ability to carry on conversations during the class via a chat feature. Try to participate in at least one of each brand so that you are aware of the opportunities.

While live delivery has its place in web-based learning, it takes away one of the primary advantages assigned to online courses - the ability to learn anywhere, anytime. So if you want to provide that advantage, then you must assume an asynchronous mode of delivery. This type of delivery requires that you think through all of the course, design each lesson, then post the lessons for the students. Whereas with a "live" course you can assume that the instructor will prepare and deliver each lesson, an asynchronous course takes a lot more prior planning.

Even here there are numerous options. Here are some questions you need to answer as you are outlining the features of your course:
* Will you have an instructor for the course? (instructor-facilitated)
* Will all of the students start and end the course at the same time? (lock-stepped enrollment)
* Will the instructor "release" the learning materials at a particular time of the week or will students be able to progress at their own rate? (student-paced or instructor-paced)
* If you don''t have an instructor for a course, how will you handle student questions?
* How will you measure student progress through a course? Do you need to?
* Will you certify course completion or are the students on their own as to whether or not they finish the course?
* How will the choice of instructor-facilitated impact your staffing requirements for the course?
* How will you train the staff to facilitate the course?
* Will you allow student-to-student interaction? If so, how will you facilitate that?

As you can see there are a lot of questions to be answered as you plan a course.

P.S. Did I mention that you can also deliver a course via email? For a good example of an email course send an email to elearning@TechTamers.com

Dr. Jeanette Cates is an Internet strategist who works with experts who are ready to turn their knowledge and their websites into Gold. Her reputation as a speaker and trainer has earned her the title of The Technology Tamer. With more than 20 years in instructional design and elearning, Jeanette shares her news and views in OnlineSuccessNews.com', 122, 'Choose the Delivery Mode for your e-Learning Course, College-University, College-University articles, College-University information, about College-University, what is College-University, College & University Information', 'Choose the Delivery Mode for your e-Learning Course plus articles and information on College-University