A great part of Business School are the case competitions. These are mock situations, often based on real-world business issues, that students create recommendations for and, if they win, they get real money. Foster is good at case competitions
Well, as part of our startup we’ve applied to a number of business plan competitions around the country including our Business Plan Competition, the BPC is organized by the Center for Innovation and Entrepreneurship.
On Friday as I finished writing the last post I received two e-mails I’d been waiting on, one from Wake Forest’s Elevator Pitch Competition and the other from the NWEN‘s First Look Forum (OK, so it’s not limited to students and you’re not explicitly competing for cash but it is a competition). As it turns out, we received the gracious thanks-but-no-thanks from Wake and we’ve advanced to the top-20 in the FLF.
I was bummed and frustrated reading the Wake e-mail, which I got it first, because (and surely I’m not biased) I think our plan and our exec sum is pretty well put together. Then I read the FLF e-mail and I got a shot of adrenaline which complimented the self-satisfaction I felt quite nicely. And now, as I’m thinking about both, it’s the advance in the FLF that fills most of my thoughts while the rejection has been relegated to the outer recesses of my thoughts and primarily revolve around, “that’s a shame, they missed a chance to bring a great startup out from the North West.”
I’m an optimist through and through but I’m particularly happy to be one when it comes to working on a startup. Is eternal optimism a required entrepreneurial trait? If so, is it learned or ingrained? If you’re interested you should read Mark Suster’s blog post from Saturday about being an entrepreneur to decide.