Win with Shark Tank’s Daymond John, Babson College and Startup America
An exciting new contest for a Startup America Member to win consulting services from a Babson College Fast Track MBA student team supported by a Babson faculty member and Babson Entrepreneur-in-Residence Daymond John of ABC’s Shark Tank.
The Babson Team, consisting of members of an experiential learning course, has an average of 15 years of industry experience. The Team will provide approximately 200 hours of consulting time over a period of six weeks, starting October 15 and concluding on or before December 21, 2012. Instead of a consulting fee, the Team will earn academic credit in Babson’s Management Consulting Field Experience.
The winning Startup America Member will access Babson’s renowned Entrepreneurial Thought and Action® approach to develop a strategic plan that will drive sustainable business growth.
The Babson Team will start by analyzing the business’ current financial performance, utilizing a proprietary Business Advantage Tool, which identifies functional areas and processes that can be improved to increase overall profitability. Based on the analysis from the Tool, the winning Member and Babson Team will develop a project plan. They will also set a schedule for routine Skype calls in order to understand and develop alternative solutions for targeted functional areas including IT, human resources, operations, production and sales.
The winning Startup America Member will also win a copy of the Business Advantage Tool.
• Video Submission period: Sept 25 - October 1
Click the bottom of the page to enter your video and win!
• Public Voting period: October 1 – October 5
• Finalists chosen: October 12
• Consulting Begins: October 23
• Media event at Babson with Daymond John and Startup America: October 23rd. Details to come.
Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds™. The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society -- while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action® as the most positive force on the planet for generating sustainable economic and social value. For information, visit www.babson.edu.
About the Business Advantage Tool
The Tool is a business analysis and strategic planning Tool developed by a Babson Professor of Entrepreneurship and a Babson Graduate student. The Tool is designed to help users guide their emerging businesses through the process of developing a strategic plan for sustainable growth. The Tools allows the user, to quickly measure and understand the current financial condition of your business, its business model and the key drivers of profitability. The Tool will help guide the development of and test the impact of strategic alternatives which will lead to effective implementation for sustainable growth. Specifically, the Tool can calculate up to 3 years of historical financial statement data from your balance sheet and income statements and provides the following analysis and planning functions:
1) Functional cost analysis: The Tool restates the income statement by functional area and calculates each cost as a percentage of revenue to help users identify where costs are increasing year over year as a percentage of revenue.
2) Ratio analysis: The Tool calculates key financial performance ratios including profitability, liquidity, leverage, solvency and detailed assets turnover. In addition it provides a historical analysis and competitive analysis providing year over year comparisons as well as comparisons with industry averages. For comparative analysis, The Tool captures Standard & Poors' Capital IQ Industry averages for 122 industries.
3) Problem Identification: The Tool calculates and identifies key ratios that are trending negatively, and provides suggestions regarding what factors and functional areas could be negatively impacting financial performance.
4) Strategy Development and Tactical Plan: The Tool provides a worksheet for strategy development.
5) Sensitivity Analysis: The Tool will calculate the impact of 6 distinct strategic options on the balance sheet, income statement and financial ratios. The Tool allows you to measure the impact of one option at a time or multiple options simultaneously. The sensitivity analysis also provides you with the perspective of a future projection i.e., given the current financial performance, what will be impact of the tactical options in the future?
6) Sensitivity Worksheet: The Tool provides an unlimited sensitivity worksheet for the user to test the impact of changes to any inputs on the income statement and balance sheet.