What I Learned From the Wharton Business Plan Competition
When I found out that I would be visiting UPenn a month ago, I immediately went straight to Google and searched for possible events I could attend. And there it was the Wharton Business Plan Competition was being held on May 1 in the Huntsman Hall at the University of Pennsylvania. After sorting out a few scheduling details with my dad, it was set; I would be able to attend the event.
I’ll be back in the Huntsman Hall next year!!
And so when the day finally arrived, I honestly wasn’t sure what to expect. Going through the website of the Wharton Business Plan Competition, the finalists seemed to have some really promising ideas. Moments later, there I was sitting in the auditorium listening to the speakers.
At first, it didn’t feel quite right. The auditorium was packed with graduate students and people who looked like they had a backpack full of experience with them already. But I quickly realized that this is it. This is what the business world looks like. This is what I’ve been dreaming of in the past year. This is where I want to be.
When the presentations started, I was honestly a bit overwhelmed by all the data, credentials and what the businesses have done already. But this is the beauty in these events; as an incoming college freshman, it was an invaluable learning experience for me and a preview of the world I’ll hopefully be able to enter one day.
Building a well-rounded team
When the team leaders started introducing their team members and the people who have helped them in the process, you could really see that every member had a unique skillset that really contributed to the team. The winning team Slidejoy boasted students who have gotten multiple degrees from both Wharton and Stanford. But more importantly, they all had a set of important tasks.
The winning team of the Wharton Business Plan Competition, SlideJoy
Importance of Networking
During the breaks and networking sessions, you could really see people go at it, discuss ideas, share thoughts and exchange business cards. And true enough, when the presentations resumed, I suddenly started seeing how important this aspect was as the teams presented their current client bases and how they were able to get them to jump in their start-up ventures.
I even got to sit beside this founder and CEO who told me why he was there, and it was quite simple, “I’m here to build connections, network and at the same time, scout for talent.” Continue reading