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I manage to clean and select some of the pictures from my spring break in Japan. Enjoy some shots of this amazing country! Readmore... Francesco @ MIT SLoan |
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Today the Charlottesville Farmer's Market has finally returned. For me, this marks the official beginning of spring.
Fresh free-range farm eggs, cheese tastings and the wonderful smells followed by a stroll in the historic downtown mall sipping an iced- mocca on a warm sunny day.
No better way to start the weekend.
Readmore... Oren Root @ Darden |
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Around MIT it is TA (teacher's assistant) recruiting time for the fall semester. Since the first week of the core semester I knew I wanted to TA, and knew I wanted to TA Econ in particular. Well after an application and interview process, I just found out I was given the opportunity to TA Econ next fall, which is great. I have never really officially taught a class so I can't wait for the experience. I hope I can do it well. I think it will be a really cool learning experience. As a side benefit, the class pays a... Readmore... Luke @ MIT |
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Well the first half (H1) of the MIT Sloan semester is already over. It was a busy half semester... I thought this was supposed to get easier after the core! I have 54 credits, which is a full load. One class was marketing, a 9 credit H1 class (usually half semester classes are 6 credits) so that took up a lot of time. Nice to be done with that, hopefully H2 will be a bit smoother. In addition, after being on the waitlist for over a month, I finally got into one of the coolest classes at MIT Sloan, Finance... Readmore... Luke @ MIT |
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| Spring quarter has started at business school, which means it is business plan season. |
Business plan competitions with strange acronyms are flocking from every corner, from RBPC to NUVC. For someone like me, who is starting a business from business school, these competitions are great motivators and milestones for writing and rewriting my business plan.
The competitions rarely ask for a full business plan, as least in the early stages. Instead, an executive summary or abstract is asked for. Someone recently said to me that, in selling my business, I need a 1 minute pitch, 10 minute pitch and 45 minute pitch. These summary documents are analogous to the 10 minute pitches.
So I've been writing these "10 minute" summary versions of my business plan. As I write these documents, I realize that for every line in a one page document, there is probably tens of hours of work of work behind it. Yet this will not be apparent at all in reading the document. Take, for example, a line that says "a team from an undergraduate class will build a prototype". This line does not describe the other alternatives I had investigated and thrown away, such as looking to contract software engineers or developing relationships with researchers who might help build it. It will not even describe the pain experienced in some of these not working out.
At first, it is tearful to not unravel the full story behind the window dressing that is the business plan. But it is important to realize that the business plan is largely window dressing. I'm learning more and more that a business plan is not a document with intricate details that you design and create to carefully help you navigate yourself to your dream. It is not even an aid to help people understand how you will set up your business. A business plan is a marketing document. Its sole purpose is to convince people - to excite people into giving you whatever it is you need.
Though I have only entered two competitions thus far, I already feel that each competition helps iterate and refine my ideas - solidifying them, creating more punchy descriptions and ultimately improving what I'm working on. I'm looking forward to what my business plan will look like at the end of Spring quarter, at the end of the business plan competition season.
  Readmore... MBA veggie |
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