Last Thursday evening Robyn and I competed in the Burton D. Morgan Business Concept Competition. The event was held in Peirce Pub and we had 10 minutes to present our business idea to two alumni judges, Ted Rice (the head of Innovation Greenhouse), and a representative from Burton D. Morgan. The winners received a $500 grant to do research and develop a business plan before competing in the Burton D. Morgan Business Plan Competition next year; the prize for that one is $5000 to start your business!
Robyn had made gift bags for her friends who were preparing for comps and her friends loved them! She thought that gift bags would be a good business and I remembered that this competition was happening! We immediately got to work on brainstorming. Spending a Friday night in our room we taped paper to the closet doors and tried to come up with a slogan, logo and name for our business. We knew that we wanted to play off of the Kenyon connection but not so much that we could end up in legal hot water. Toying with Philander, Middle Path and Harry Potter as starting points got us absolutely nowhere; it wasn’t until Robyn suggested playing off of our last names to create “P.S” that I came up with “Don’t Stress.” So after lots of random words and suggestions, “P.S. Don’t Stress” was born.
We really wanted to impress the judges so we created a concept board using old magazines and random cut outs. Covered in food advertisements and headlines I’m sure that it looked more like a collage gone horribly wrong but we worked with what we had! Cutting out a shield from posterboard, we created a mockup of our logo. We didn’t want ANY room for surprises so we wrote up our speech ahead of time, typing it and sizing it to notecards.
Long story short, we went in there and really wowed them! Our presentation was succinct and impressive; we fielded all of their questions with answers we had pre-written.
Now we are in the process of getting ad space in the Collegian and Alumni Bulletin so that we can do market research about what students want in these baskets and what parents are willing to pay. We’ve decided to buy a domain name and set up an electronic storefront so that parents can more easily purchase our product.
So excited for this development!
Ta for now,