For two University students, spring break didn’t mean fun under the sun — it meant business.
Senior James Pippin and junior Ryan Schmid traveled to Ball State University in Muncie, Ind., to present a business plan at Enterprise Creation 2001, an international undergraduate business competition. The two received an award for the Best Entrepreneurial Applicant for their team’s company called “Good Vacations.” They competed against eight other teams from various universities in the nation.
Schmid, who majors in business administration and is the captain of the football team, said the competition was a great experience and helped him understand how the real world works.
“It was a really great opportunity to make networking contacts,” he said. “Ball State has a great entrepreneurship program.”
Pippin, who majors in English and is in the Robert D. Clark Honors College, said the experience was well worth it.
“There’s no doubt that it’s a good experience for all students who participate,” he said. “The judges are top quality, and this is all about life experience.”
Schmid and Pippin said “Good Vacations” is an information broker for volunteer vacations. Schmid compared the vacations offered to the one taken in “City Slickers.” People can take trips for up to six weeks and join service organizations.
Alan Meyer, professor of entrepreneurship management who acted as faculty adviser for the trip, said Schmid and Pippin’s company should have been one of the top three winners.
“It’s got both a socially responsive point, but also has a business aspect,” he said. “It’s a great little market niche that many people don’t know about.”
Meyer said Schmid was chosen because he is a good public speaker, and Pippin because he was is able to think quickly on his feet.
Schmid and Pippin “strike people as an unlikely team,” Meyer said. “I really enjoyed getting to know each one.”
The two originally were to compete as part of a team of four, but due to budgetary constraints and competition rules, only Schmid and Pippin attended, Meyer said.
“It was a really neat thing to see two people come together who would have normally not met,” he said.
The two said they did not know each other before they attended the class.
“James had a really great idea and I just signed on,” Schmid said. “I could tell he was sharp and would work hard.”
Pippin echoed Schmid’s statements, and was glad he joined the same team.
“Ryan has an excellent background in entrepreneurship,” Pippin said.
He said the competition was a grueling experience that helped teach the pair the constraints that can sometimes hamper a business. For example, he said the two were scheduled to present their business plan at 3 p.m., but were informed that morning it had been changed to 1:45 p.m.
“It’s always nice to have some time, but the business world puts you on the spot,” he said. “Entrepreneurship is a constantly changing world.”
Schmid and Pippin were required to attend a class during winter quarter that would help them put together a company and ideas on how to market it. During the last week of the term, teams of four present their businesses at Quest for AdVenture, a competition at the University. Because they were on the winning team, they were able to attend the national competition at Ball State.
“You really get more out of the class,” Pippin said. “That’s where you learn everything.”
Schmid said the class required him to spend more time working for his goal than he ever has at the University.
“It was the most realistic life experience I’ve had in college,” he said.
Meyer said the class is basically a workshop where attendees help build the equivalent of a scale model of a business.
Pippin said the class requires a lot of time and effort to be successful.
“If people want to get into it, it will be more than a regular business class,” he said.
Jennifer Pratt, Venture Championship chairwoman for the Lundquist Center for Entrepreneurship, said the competition is the ultimate challenge for students in the field.
“For students interested in starting a business it’s a highlight — the pinnacle,” she said. “It’s a fantastic learning opportunity, they can really see how their plan would hold up against the rest of the nation.”