The

Entrepreneurial

Code

Lessons from an

Ivy League Entrepreneur

Chapter Eight

The presentation to their management class was scheduled for the last day of the semester.  There were three other groups presenting that day, and Johnny’s team was picked to go last.  Johnny was so anxious to get in front of the room he had difficulty listening to the other speakers.  He couldn’t wait to unveil their work. 

When it was finally their turn to present, Johnny, Maverock, Abe, and Joe told their story with the same enthusiasm that every entrepreneur has when he believes he stumbled upon a great idea.  They walked through each major portion of the business plan, the market research, the operational setup, the feedback from merchants, and the financial projections.  Although their company’s estimated profitability wasn’t enough for them to go public, they expected the business to make money.  When it was time for questions, a dozen hands shot up. 

“How will you market to the student body?”  “Why would the merchants pay you that much money?”  “What about the school - how would you compete?”  There were lots of great questions and they had already invested a significant amount of time considering most of them.  Therefore, they were able to give very complete answers.  The most difficult question was how they planned to mitigate the risk of competing with the school.  Johnny acknowledged the potential problem, shared their assumptions, and people seemed satisfied with the answers.

Johnny stood in front of the room, fielding questions, and feeling like a statesman.  He wasn’t self-conscious, because he was so excited about the Bullfrog Card.  The energy and conviction he felt about the business plan was so strong, it gave him confidence.  He wanted everyone to listen to him. 

That day, Johnny, Maverock, Abe, and Joe held their heads high.  They didn’t care if anyone agreed with their business idea, because they believed it.  When the big hand on the clock in the back of the room struck the two, the four of them walked towards their seats to the sound of applause.

On their way back to Joe’s apartment, they each recounted their favorite parts of the presentation.  “Did you see when the guy in the back row said… or how about when I said… or what about when…?” Once they got back to Joe’s apartment, the mood sobered up.  “Are we really going to do this?” they wondered aloud.

None of them had any idea what they were about to get themselves into.  They believed their idea could work and they wanted to prove it.  Besides, they were still college students, so they didn’t think they had much to lose.  If the company didn’t work, no one had to know about it, and the four of them could still interview for jobs like everyone else.  On the other hand, what if it became something BIG… what if?  They each chuckled at the idea of having their own offices, and a secretary.  Johnny couldn’t stop smiling at the thought. 

Therefore, it was no surprise to Johnny when they went around the room and everyone agreed to start the business.  There was such a feeling of enthusiasm and accomplishment that they wanted to keep the excitement alive.  If they didn’t implement the idea, it died, and there was too much energy to allow that to happen.

Although they had each received A’s for their business plan, implementing the idea was going to be complicated.  The semester was ending, each of them had full-time internships for the summer, and they were going to be located in different parts of the country.  Although Johnny and Joe would be in New York, Maverock was going to be in California, and Abe was going to be in Philadelphia.  Somehow, they had to set up the business in their spare time and have it ready to launch before the last week of August, which was only three months away.

Copyright  2005 by Chris Cononico
All rights reserved. No part of this manuscript may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the author, except by a reviewer who may quote brief passages in a review.