Final Resource Night Recap: Business Concepts

Resource Night Recap Final before Business PLan CompetitionEach week you can read a recap of the previous session. For the final week, instructor John Zagula, founder of Ignition Capital, once again stepped in for the Buerk Center for Entrepreneurship’s Amy Sallin to recap the last class of the quarter which reviewed the business concepts and ideas learned in class. If you have questions about the lecture series, or any of the Buerk Center’s student competitions, email Amy at asallin@uw.edu.

Last night was our final session. After reviewing everything one last time, hopefully some of the concepts and ideas remain helpful to you in some way even after you have forgetting everything you have learned in class (I have to say, most of you did pretty well on our pop quiz).

Not only did we look back on what we covered, we heard from an inspiring executive and leader who is always looking ahead. Christina Lomasney of Modumetal – the mad scientist turned business leader who just might take over the world, one bolt at a time – shared her amazing story of insight, hard turns, resets, focus and determination. What a great way to end the class – with the lesson that even the most successful/well thought out business plan is just the beginning.

And we concluded with yours truly sharing some personal advice, for what it’s worth, that is hopefully relevant regardless of whether you are starting a company, seeking a job, or just trying to grow and manage your life and career:

– invest in three lasting assets: your attitude, your relationships, and your core habits/skills
– harness two key dynamics: the benefit of taking risk with the importance of applying reason
– be guided by one motto: Sapere Aude – dare to know (and never stop seeking and learning – whether or not you like being taught)

It really was a pleasure and privilege teaching you these past ten weeks. Thanks for all your enthusiasm, your openness, participation, questions and perspectives. I learned a lot.

Not able to attend the previous classes in person? Catch up on the previous classes here and watch the video from the marketing panel of experts to learn from the three BPC veterans.

QUOTES OF THE WEEK

“Education is what remains after one has forgotten what one has learned in school.” – Albert Einstein

“I am always ready to learn although I do not always like being taught.” – Winston Churchill

COMPETITIONS

Congratulations to EpiForAll for taking home the $15,000 Hollomon Family grand prize at the Hollomon Health Innovation Challenge! Read more about the competition on the Foster Blog and Geekwire’s detailed report.

The Alaska Airlines Environmental Innovation Challenge is coming up next on March 30! Twenty-two student teams advanced through the screening round and will compete on Thursday, March 30 at the Seattle Center Exhibition Hall. Be sure to follow us on Twitter @UWBuerk, Facebook @UWBuerk, and UWBuerkCenter on Instagram for updates on competition day using the hashtag #EIC2017.

Read why students call the competition experience “the best thing they did in college” on the Buerk Center blog.

Early applications will be accepted beginning Monday, March 13 for the 20th Annual UW Business Plan Competition. The BPC anniversary coincides with the 100-year celebration by the Foster School of Business.

  • March 13: Team registration to participate in the BPC begins! (link to registration page coming soon)
  • April 3: Deadline to submit 5–7 page executive summary to enter the BPC
  • Check out past entries online or stop by the Buerk Center office to view more. Make sure you’re aware of the Judging Criteria that the Screening Round judges will use to evaluate all the entries, and use the Submission Checklist to make sure your work is on track.

AND MORE RESOURCES

  • Our MentorConnect site is a great way to connect with a professional via email—including attorneys and people who specialize in IP issues—for advice, questions, and feedback. Connect with professionals in a variety of industries: Business Development, Cleantech, Consumer Product / Service / Retail, Energy/Environment, Finance, Intellectual Property, IT/Software/Online/Internet, Legal, Life Sciences, Marketing, Non-Profit, Operations, Production/Manufacturing, Research and Development, Sales, Venture Investing, and Engineering. These people all volunteer their time to help students, so don’t hesitate to reach out! Please do read the “Guidelines” section before contacting a mentor. FYI, the site requires a UW login, so if you’re a student from another college or university contact me for a guest login. Please note this resource is for students only!
  • View past executive summaries online from EIC participants (Resources tab, scroll down to Other Resources); and BPC participants (scroll down to the Learn by Example section).
  • Stop by the Buerk Center in Dempsey 227 to look at a wide variety of executive summaries entered into the EIC and BPC.
  • Review the Judging Criteria for the BPC Screening Round as you work on your 5–7 page executive summaries. Helpful hint: Use the Submission Checklist to help guide you through the judging criteria.
  • Check out our Startup Resources webpage.
  • Aren’t sure how to protect your IP? Curious about patents, trademarks, and copyrights? The UW Entrepreneurial Law Clinic is looking for new clients to apply for free legal advice for the upcoming Spring quarter. Questions? Email elcinfo@uw.edu or call (206) 616-5854.