Plan to enter. Plan to win. But most importantly, plan to succeed.

WELCOME ENTREPRENEURS

!

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2014 Be Your Own Boss Bowl

Business planning competition for aspiring and early-stage entrepreneurs from Temple University

16th annual competition Managed by the

Innovation and Entrepreneurship Institute – a top 15 nationally ranked program

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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

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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, 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.

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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 financial self-sufficiency primarily through earned revenues (by making money)

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2014 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 >$200,000 $145,000 cash, $40,000 + in

professional products & services plus gift certificates, incubation space, more…

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2014 Prizes & Recognition

Grand Prize: $70K cash; $40K in professional products & services, and $5K in incubation services and intensive coaching/mentoring from IEI; first right of refusal for the Temple Acceleration Company

First Place (each track): $10K cash Second Place (each track): $5K cash Consideration for the Temple Accelerator Program PR from Temple University, Fox School of Business

Philadelphia Inquirer, Metro, USA Today, Entrepreneur magazine and others

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2013 BYOBB At a Glance

96 business plans submitted About 180 people competing (total) 55% Upper track, 45% undergraduates 15 schools and colleges within Temple 90+ senior executive mentors,

majority from GPSEG 285 preliminary judges Grand prize: Neighborhood Foods 

(Dylan Baird BA‘12) – Urban Farm initiative reducing blight, providing local healthy produce

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Past BYOBB Winners

2007 – Advanced Medical Solutions (Undergraduates, College of Engineering)

2008 – Legal Organics (Undergraduate, College of Liberal Arts)

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)

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BYOBB Important Dates

September 25 – Info Session 12 – 1 PM October 22 – Info Session 5 – 6 PM November 18 – Info Session 5-6 PM February 10 – On Demand Mentoring

Session 5 – 7 PM

March 24 – Plans Due April 9 – Finalists Announced April 17 – Scrub Day - Finalist Presentations April 24 – Finalist Presentations and Awards

Ceremony

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‘13 Fall Business Planning Workshops

September 12 – Idea Creation & Design InquirySeptember 16– Legal 101 for EntrepreneursSeptember 19 – Market Segments & Value PropositionsSeptember 26 – Assessing Ideas: The Good, The Bad, The UglyOctober 3 – Overview of Entrepreneurial Process & Business PlanningOctober 10 – Creating Winning Business ModelsOctober 17 – Competitive AnalysisOctober 24 – Cash Flows, Profits and Financial ProjectionsOctober 31 – Entrepreneurial MarketingNovember 7 – Management & Team BuildingNovember 14 – Entrepreneurial Sales ProcessNovember 20 – Development Investment Presentations

4:30 to 6:00 p.m. 503D Alter Hall

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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 Rick Genzer – Business Executive/IT Executive in Residence

2013-2014 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

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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)

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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.”

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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 receive a mentor, you agree to complete and enter the business plan. “Commit to finish.”

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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

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Start Early!

Plans are due in about six 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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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

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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

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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 Directorjaine.lucas@temple.edu – Alums & Graduate Students Quanda Garrison, Associate Director quanda@temple.edu – Undergrads Entrepreneurship Facilitators: Melinda & Kelly

IEI Innovation Lab & Resource Center Mentor meeting rooms & IEI Innovation Lab “You can do it. We can help.”