In the Woods

STEVE WODA'S BLOG

… Technology, Digital Family Safety and Security, Entrepreneurship, and Fatherhood

 

How Do You Win a Business Plan Competition?

The short answer is that you need to be very, very good.  There are a lot of terrific, aspiring entrepreneurs out there, and so a bit of luck is useful too.  Having said that, winning isn't everything. buySAFE is actually a product of the 2002 Wharton Business Plan Competition, but the plan was not the winning plan.  PayMyBills.com has a similar story.  The founders and my good friends, Jeff Grass and John Tedesco, were finalists, but not winners, in the 1999 Wharton Business

Daily Roundup for 2008-03-08

Jeremy Siegel on Politicians, Prices and a Potential ‘Buying Opportunity of the Decade’ – Knowledge@Wharton The U.S. Presidential race has reached a critical juncture. The Republicans have a confirmed nominee in John McCain; as for the Democrats, Hillary Clinton has bounced back, while Barack Obama retains a marginal lead in terms of delegates. How the presidential race evolves will be shaped in part by the increasingly worrisome state of the U.S. economy. Consumer prices are

The eMarket for Lemons at The Wharton School

I had the opportunity to speak at The Wharton School, University of Pennsylvania last week about an article that Dr. Eric Clemons recently authored for the Journal of Management Information Systems, "An Empirical Investigation of Third-Party Seller Rating Systems in E-Commerce: The Case of buySAFE". My presentation was focused on marketplace economics and specifically about information asymmetry, signaling, the "Market for Lemons" concept, and buySAFE. In addition, I was ab

Daily Roundup for 2008-01-15

Cheerleader and Taskmaster Bob Greene, co-founder of Contour Venture Partners in New York, wants you to know that venture capitalists aren’t half as tough as their reputations would have you believe. "A lot of entrepreneurs think VCs are haughty or arrogant," says Greene, who earned his bachelor’s degree from the Wharton School in 1982. "All the VCs I know, we do it because we love it. We want to see entrepreneurs succeed. If the wrong impressions get cast, it’s because we ge

The eMarket for Lemons and The University of Maryland

As always, it was a terrific experience for me. The students were extremely prepared, and they had definitely done their homework on buySAFE, information asymmetry, and the ecommerce marketplace in general. If you ever want to get an excellent sense of how well your marketing efforts are working or how well you are educating the market about your solution, I highly recommend inviting a couple hundred college students to study your product or service and let them give you fe

The Wharton School and Entrepreneurship

The Wharton Business Plan Competition took place earlier this month, and NP Solutions was the big winner for 2007. The new venture took home the $20,000 grand prize for a business that provides a polymer based injectable hydrogel treatment for back pain. Obviously, I wish these folks a bunch of luck with their new business. As you may already know, I am a big fan of these collegiate competitions. buySAFE (formerly known as BondMyAuction) is a product of the Wharton Business

The Three Qualities of Great Entrepreneurs

Entrepreneurship is one of the most exciting things that you can choose to do as a profession. It is also tough to be an entrepreneur. Entrepreneurship is definitely not for the faint of heart. I ran across this quote recently, and I thought it perfectly describes the attributes of successful entrepreneurs. "Top people, especially entrepreneurs, seem to have these three qualities: First, they learn more things. Second, they try more things. Third, they persist longer than

 

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