Students present to Allrecipes

Guest post by Lisa Anton and Travin Keith, Foster School and CISB Custom Track students

AllrecipesAfter winning the grand prize in the 2013 CISB Foreign Market Strategy Project, the Foster School’s Certificate of International Studies in Business Custom Track students presented their case at the office of Allrecipes on April 11. The students presented in front of a large number of Allrecipes employees and successfully defended their presentation for about an hour, earning compliments from the audience. Their performance was even compared to that of consultants who have presented in the past.

The prize for best teamwork went to the Japanese Track and prize for best presentation to the U.S. Track/Australia team.

Their proposal was to form a strategic alliance with Homeplus, the second largest retailer in South Korea, to provide their content as an additional service to their already-existing E-commerce. Users would be able to look up recipes online provided by Allrecipes and be able to purchase the ingredients on the same page from Homeplus with Allrecipes getting a percentage of the revenue. They also suggested that Allrecipes perform joint marketing projects with Homeplus in order to promote the service.

In addition to presenting to Allrecipes, the Custom Track also received an office tour from VP Patricia Smith and Senior Product Manager Vasantha Kostojohn. This experience was really enjoyable, as the office seemed more like an open community center than the headquarters of a major international recipe site. The décor was open and colorful, adorned with national flags, sticky notes from different team projects, and fun posters with cute animals and motivational quotes. The atmosphere was personal, warm, and mirrored the positive attitude that radiated off all of the staff members present. The track was also able to get a sneak peek of a mobile app that Allrecipes is gearing to launch next year and learned from the lead project manager about its development.

Overall, the Allrecipes office was as colorful and creative as its website, and it was a truly great experience to be able to go behind the scenes of such an innovative company.

Learn more about the Foster School’s Certificate of International Studies in Business Program.

Authentic ramen receives rave reviews

Guest post by Christopher Comley, CISB French Track student

Kukai Owners, Brandon Ting and Nuri Aydinel The first time Foster School alumni Brandon Ting (BA 2009) and Nuri Aydinel (BA 2009) met in class, they didn’t even talk. However, both joined the U.S. track of the Certificate of International Studies in Business program (CISB), and from there began the conversations that would lead to close friendship and a thriving business.

Along with Jessmin Lau, (UW BA 2010), the two are owners of Kukai Ramen and Izakaya, a Japanese noodle restaurant that opened in Bellevue in December and has already garnered widespread praise.  Seattle Magazine recently featured the restaurant in its “Best Restaurants” issue.

“We enjoy when our customers tell us dining in Kukai is the best ramen experience they have had,” Ting said.

It is the first U.S. location of the Kukai Ramen franchise, which has several other locations in Japan.

The restaurant is on a mission to provide “really good ramen to Americans,” Ting said.

The owners first became interested in ramen when they saw how popular it was becoming around the world.

“People are getting to know ramen and are becoming huge fans of it. We saw that the ramen fans in Seattle (and most of the U.S.) don’t get to enjoy a bowl of authentic ramen,” Ting said.

Facing such a culinary deficiency, the owners began preparations to satisfy the ramen needs of the Seattle area. They traveled to Japan several times, searching for the perfect ramen to bring back, and eventually came across Kukai. Media publications claimed customers who didn’t normally like ramen liked the ramen from Kukai.

“That got us curious so we went to try it,” Ting said.

The owners discovered Kukai had a special cooking method for the ramen, which made it more palatable to the Japanese market and potentially the American one as well. After deciding which ramen to use, the owners began preparations to open a franchise in the U.S., a process which took two years. In reaching its goal to provide authentic ramen to the American market, the owners needed authentic ingredients, but they encountered several FDA obstacles. Under FDA regulations, all ingredients have to be from a certified manufacturer. Originally, Kukai’s ingredients were not FDA approved, but the owners decided the authenticity was worth the price.

“We actually got the manufacturer certified under U.S. standards in order to import the ingredients,” Ting said.

Ting attributes the success of the restaurant to the lengthy planning process.

“We had several changes to our plan, which involved a lot of analyzing and calculating. The long and thorough planning and preparation process was the real key to our ‘rapid’ success,” Ting said.

With plans to open up 30 to 50 more Kukai restaurants across the country, Seattleites won’t be the only ones enjoying warm bowls of authentic ramen.

Learn more about the Certificate of International Studies in Business Program.

Entrepreneur reading list

Throw these in your beach bag! Emer Dooley and Jacob Colker recommend the following summer reads:

The Startup Owners Manual (Steve Blank)
Teaches you the big picture of how to do customer development and why its important, also goes through the business model canvas.

The Lean Startup (Ries)
Teaches you how to do smart, fast, targeted tests to disprove hypotheses.

Paul Graham’s Essays (founder of Y-combinator)
Read every single one!

Business Model Generation (Osterwalder)
Teaches you how to think about the business model in the context of the whole company.

Hey Whipple! Squeeze This! (Sullivan)
Best book out there for how to write smart and funny copy, which ends up being super important for web, emails, investor decks, etc. Writing is key to everything.

Solution Selling (Bosworth)
If you ever have to sell anything, this book helps. A lot.

Rework (Fried)
Smartest book out there for how to run a team efficiently.

Getting to Yes (Ury)
Best negotiation book on the market.

Art of Innovation (Kelley)
Great thoughts on innovation.

Learning with – and from – Classmates

Often new Evening MBA students are surprised how much they learn from their classmates in the program. At the start, the program’s staff takes care to form study groups that allow students with diverse strengths to share their knowledge and get each other through challenging course material. Fellow students often develop strong and lasting friendships as well, and form a whole new career network for each other, representing most of the Seattle area’s major employers. Evening MBA students Olga Shapiro, Etta Mends and Tom Clendenin describe how their fellow students add value to the Evening MBA Program.​​​

Collaborating for increased opportunities: A new BEDC partnership to further develop minority-owned businesses nationwide

Michael Verchot, Director of the UW BEDC (left), stands with NMSDC President Joset B. Wright (center) and Shelley Stewart, Jr., the Vice Chairman of the NMSDC Board of Directors.
Michael Verchot, Director of the UW BEDC (left), stands with NMSDC President Joset B. Wright (center) and Shelley Stewart, Jr., the Vice Chairman of the NMSDC Board of Directors.

The National Minority Supplier Development Council, Inc.® (NMSDC®) and the University of Washington’s Business and Economic Development Center (UW-BEDC) announced a partnership agreement to further the development of minority-owned businesses across the US on May 22nd at the NMSDC’s annual Minority Business Leadership Awards Dinner Dance in New York City.

This partnership joins together the nation’s premier organization committed to the growth and development of Asian, Black, Hispanic and Native American-owned companies with the nation’s most comprehensive business school center dedicated to the growth of minority-owned firms and businesses in low- and moderate-income communities.

“This agreement will provide minority business enterprises a new opportunity at one of the country’s leading institutions that supports minority business development,” said NMSDC President Joset B. Wright. “It will allow us to enhance MBEs’ ability to meet the needs of their customers. We are delighted with our new relationship, and we look forward to many years of success for NMSDC, for the University of Washington, but most importantly, for our certified MBEs.”

Jim Jiambalvo, Dean of the UW Foster School of Business, expressed similar excitement about this partnership. “We recognize the NMSDC’s pioneering role in growing minority-owned firms across the US. The work of the council and its member corporations has done more to create opportunities for business growth and wealth creation in communities of color than just about any organization in the last 40 years. We’re proud to be partnering with them so that collectively we can do more than either of us could do independently.”

The partners will begin their collaboration by growing the Foster School’s six-year-old Minority Business Executive Program. This Program has a track record of success in growing minority-owned businesses from across the U.S. JBE Enterprises, an NMSDC-certified firm based in South Carolina, participated in the 2012 Minority Business Executive Program. Richard Ellison, the company’s Vice President and a graduate of the Program attributes its ability to cross the $40 million revenue threshold in part to what firm representatives learned in this Program.

NMSDC and the Foster School will launch a pilot program in June. NMSDC corporate members will select a few MBEs to participate in the program. Ms. Wright will be the commencement speaker at the University’s 2013 graduation ceremony on June 21 in Seattle.

The National Minority Supplier Development Council advances business opportunities for certified Asian, Black, Hispanic and Native American business enterprises and connects them to corporate members.  One of the country’s leading corporate membership organizations, NMSDC was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes. The NMSDC Network includes a National Office in New York and 36 Regional Councils across the country. There are 3,500 corporate members throughout the network, including most of America’s largest publicly-owned, privately-owned and foreign-owned NMSDC companies, as well as universities, hospitals and other buying institutions. The Regional Councils certify and match more than 16,000 minority-owned businesses with member corporations that want to purchase their products and services.

Seeking enlightenment: a Business Certificate Program graduate’s reflections

Guest post by Jeffrey Chon, graduate of BEDC’s Seattle Business Certificate Program

The Business & Economic Development Center (BEDC)’s Seattle Business Certificate Program (BCP) has recently wrapped up after six weeks of educational coursework and with over sixty graduates. We have invited graduates from the BCP to reflect on their experience of the Program; this is the first in the series written by Jeffrey Chon, Sole Proprietor of Jun Hong’s Kung Fu Club in Seattle.

chonI’ve always been a passionate martial artist and my goal is to never work a day in my life. You see, I’m not “working” if I love what I do. Coming from a family of martial artists, deciding to open my own studio was a breeze. However, after four years of operation, I’m ready to grow my business so that I could focus on teaching instead of worrying about money.

I’ve been a student of kung fu since I was eight. I’m a secular disciple of the Shaolin Temple, and a gold medalist in three different countries. Now I’m able to teach the discipline and philosophies that I’ve learned through Jun Hong’s Kung Fu Club. Through Jun Hong’s Kung Fu Club, students attain better health and fitness by learning the importance of both physical and mental strength through sports and meditation.

Auspiciously, a longtime friend directed me to the Foster School’s Business & Economic Development Center (BEDC), where I participated in their Business Certificate Program.  Held once a week for six weeks, professionals from all fields would come together to give lectures, covering everything from marketing to liability. My classmates, who are professionals themselves, were able to share their experiences, lead class discussions and propose insightful questions. Those questions and concerns were met with direct and in-depth answers. In short, all professionals who seek further knowledge and education can benefit from these seminars.

“Know thy self, know thy enemy. A thousand battles, a thousand victories.”  ~Sun Tzu

As a small business owner, sometimes we do things for the business with the idea that it will be beneficial, but without the understanding of “why.” During every class I would say to myself, “That’s what I do!” and I began re-applying what I’ve been already doing, but with a deeper understanding of the fundamentals. Within two weeks, I was able to bring nine new students to my business.

To me, it was the missing piece to the puzzle. These classes take what we do as business owners and provide us with the skills to further expand our minds and better our businesses.  Simple questions such as, “Does it work? Why or why not? What are other people doing? What do customers respond to?” helped me understand what areas I need to improve on. Sometimes finding success can be as simple as asking the right questions.

As business owners and professionals, we are always keeping long-term and short-term goals in mind. These classes allow you to re-calibrate what’s important and focus on future goals; not only for your business, but for your life. The professors help you ask the right questions, fellow classmates provide you with networking opportunities, and the synergy created in the class paves the way to endless ideas. I know that the Business Certificate Program will be a priceless and lasting benefit to my business.

You have to prepare yourself for when you’re blessed with an opportunity. As Sun Tzu once said, “opportunities are multiplied as they are seized!”

New facilities transform, energize the Foster School

A virtual tour highlights how new facilities have transformed and energized the Michael G. Foster School of Business School since it was renamed in 2007. PACCAR Hall (opened in 2010) and Dempsey Hall (opened in 2012) now form the nucleus of the school, which also includes the Bank of America Executive Education Center, Mackenzie Hall and the Foster Business Library on the University of Washington’s Seattle Campus and the Eastside Executive Center in Kirkland.

Is it Time to Go for a Part-time MBA?

So you’ve started your career and you’ve landed a good job. Work is satisfying, but you know there are other opportunities out there and your options are limited by the scope of your job and the industry you’re working in. You know you’ll need to build your knowledge and skills to compete for those opportunities. Is it time to earn a part-time MBA? For Evening MBA students Tom Clendenin, Etta Mends and Olga Shapiro, the answer was “Yes!” They describe how they reached the decision to go back to school for an MBA while they continued working. Is it time to make your move?

BPC bonanza

Guest post by Claire Koerner, co-founder of nomON and Foster School class of 2014
nomON is a randomized food delivery app. Claire and the rest of the nomON team competed in the 2013 UW Business Plan Competition and made it into the Sweet 16 round. In this guest post, Claire reflects on the BPC experience and lessons learned.

nomON for blog postnomON’s Business Plan Competition (BPC) journey drew to a close on May 23 at the Awards Dinner amid friends, mentors, and fans. After two months of hard work, we were all very eager to reach the culmination of the event, and be able to look back at all we have learned along the way. At the beginning of the BPC, we had a 7 page executive summary that was absolutely gorgeous (thanks to Tarryn!) but with some major holes. Our financials were complete estimates, we had yet to sort out credit card processing, and much of our plan was built upon assumptions. After advancing to the investment round, we had the chance to perfect our 2 minute pitches for judges, create nomON swag, and start raising hype about the brand. But it was when we advanced to the Sweet 16 (yay!!) that the learning really began: we met with multiple coaches and mentors – thank you Sanjay Kumar, Craig Sherman, Emer Dooley, Charles Seybold and several others along the way- who helped us find and fill the holes in our business. nomON went from being a quirky mobile app cobbled together at Startup Weekend to a real business with well thought out financial projections (you should see the spreadsheets), a solid partnership with ordr.in, and an entirely new user interface. What a roller coaster! Although we didn’t advance to the Final Four, nomON is now armed with a full 15 page business plan, an investor slide deck, and most of all, important insights and truths about our business. Thank you to the Buerk Center for Entrepreneurship and everyone who helped us during this process. We are excited to move forward with the business, continue learning and improving, and most of all…bring nomON to you soon!

Top 5 things we learned:

  1. Businesses are hard- the to do list keeps growing, no matter how many things you check off
  2. Pitch to everyone- you never know who is going to have a random genius insight
  3. All it takes to keep a designer happy is free-flowing white chocolate mochas with extra whip
  4. Practice makes perfect
  5. Businesses are fun- the deeper you go, the more you learn, and the more you love your team :)

The nomON team:
Claire Koerner – Business Administration (Marketing)
Stephanie Halamek – BA (Finance)
Tarryn Marcus – BA (Entrepreneurship)
Evan Cohen – Informatics
William Voit – Electrical Engineering

– Faculty perspectives, alumni happenings, student experiences, Seattle and Pacific Northwest community connections, and a taste of life around the Foster School.