Call for writings on business info lit
I promised Genifer Snipes to help promote the call for proposals for this book that many of us will be eager to read:
Call for chapter proposals for the ACRL book Teaching Business Information Literacy, edited by Genifer Snipes, Ash E. Faulkner, Lauren Reiter, and Marlinda Karo.
This will be the first-ever title focused specifically on business information literacy instruction…readers will find a collection of practical, classroom-tested business information lesson plans, learning guides, research activities, and projects for one-shot, embedded, and credit-bearing library classes in disciplinary and interdisciplinary settings.
Contact Genifer at gsnipes@uoregon.edu with questions, to discuss proposal ideas, or for the proposal submission form. Deadline is July 30, 2020.
Catching up
Tuesday was my last long day of the semester. I had a brief student consultation at 9am but then free the rest of the morning and took some time off as comp time. Later read about Summer Krstevska taking her future “Creating Social Change” class to Rotterdam, got jealous, and told her so. (Elizabeth Price wrote about her experience with students in Antwerp last year.)
Our library faculty met at noon for a final discussion of our rewritten evaluation guidelines plus other topics. The rewrite addresses several previously unanswered questions: What are the quality and quantity expectations in scholarship and service to get tenured? What does it take to become a Full Professor? Votes on the rewrite are due by Thursday. I should post an update on that long process; the discussions and decisions have been interesting.
Then lunch.
My entrepreneurship research class met for the last time at 2pm, followed by the final Export Odyssey class session. In both classes, we discussed the final project, so pretty informal.
From 5pm to 9pm, UNCG Entrepreneur in Residence Noah Reynolds and I observed 8 final presentations, 30 minutes each, by the teams in the entrepreneurship capstone course.
Whew. Too much WebEx and Zoom for one day. But now the rest of my week is mostly open.
Meanwhile, Chad Boeninger wrote an interesting piece this month about making the most of online consultations.
Today’s topic
Competition flier
I spoke about this competition at SOUCABL in March and promised to conclude the story in a blog post at the end of the semester. Here is that full story.
In spring 2019, my new library dean, Dean Martin Halbert, joined me in attending the luncheon of our cross-campus entrepreneurship program. He was excited to learn about my embedded work within the program as a Coleman Fellow and offered to provide some funds for a student entrepreneurship competition. He funded such an event at his previous library in Texas.
I began to think about the scope of this library-funded competition. There are a few entrepreneurship competitions on campus and in the city already, but we no longer had one that focused on social entrepreneurship. Social entrepreneurship is big at UNCG. Many academic programs and many students are interested in helping solve problems in our city and the world. So a few weeks later, I proposed this focus to Dean Halbert and he liked it.
I told Professor Dianne Welsh, our entrepreneurship program, about the competition and she replied “Great, thank you! We can make that part of ‘Entrepreneurship Everywhere’.” I replied “umm, ok, sure!” That was a day-long program in the ballroom of our student union scheduled for Feb. 13, 2020. I was helping organize that program.
Next steps — decisions to make:
- Solo or team submissions
- Graduate students judged separately from undergraduates
- How the pot of award money would be shared
- What kind of document and financials get submitted
- Amount of primary and secondary research required
- Evaluation rubric used
- Who will judge
- Strategies for promoting submissions
- What would happen in the hour-long slot allocated for this at “Entrepreneurship Everywhere”
Benchmarking
Other libraries have sponsored or hosted competitions, right? I asked BUSLIB-L and learned of some interesting examples:
- Philadelphia Free Library: Pitch Corner (media coverage). Quote: “The Free Library’s Business Resource and Innovation Center wants to teach Philly entrepreneurs a thing or two about pitching…” Gillian Robbins runs this. She is co-chairing the Concurrents Team for the Entrepreneurship & Libraries 2020 conference.
- Brooklyn Public Library: PowerUP! (Timothy Tully told me about this competition he helped run. Tim now works at the San Diego State University and I enjoyed getting to know him over beers at SOUCABL.)
- New York Public Library: New York StartUP! Business Plan Competition
Definition?
From the libguide for the competition:
Social entrepreneurship means creating sustainable organizations that address a problem for local or global communities in an innovative way. The organizations can be for-profit or not-for-profit, and could be social, educational, environmental, artistic, etc. in nature.
(The libguide still exists but is now “unpublished”.)
What gets submitted?
Speaking at SOUCABL. (No, I don’t golf. Bill and I were performing for a skit in Chicago.)
I asked the SOUCABL librarians a short discussion question, “If you were creating a social entrepreneurship competition, what document would you require?” Choices could include business plans, feasibility analyses, business models, the business model canvas, lean startup frameworks, short financial projections, super-detailed spreadsheet templates, etc.
Between USASBE, GCEC, and SBI conferences, I’ve heard all of these things praised and all of them condemned.
While our already mentioned capstone course ENT 300 (also required for Arts Administration majors) requires a long feasibility analysis report (followed by a business plan in the follow-up class), most of the cross-campus and cross-listed entrepreneurship classes at UNCG require a 3-4 page business model. Not too long but usually detailed enough to require critical thinking and some secondary research. Professor Welsh created a business model that most of the classes use. I modified it just a bit to make it more clear about market versus industry research. The outline:
- Business Overview
- Industry & Market
- Financial Analysis
- Funding & Next Steps
- References
- Financials
Professor Welsh recommended the SCORE financial template, which is the super-detailed one I referred to above. It’s intimidating to finance newbies so I was interested in something shorter. Our Entrepreneur in Residence created his own financial template for his version of the ENT 300 class. With his permission, I copied four small tables from his template for the social entrepreneurship competition. See the Appendix below for both the full business model and those tables.
Judging rubric?
Competition libguide (no longer public). The other tabs came from my master guide.
I enjoyed creating this section from scratch. Please note the emphasis on problem identification (1-2) and research (6-9):
- Clearly defining the problem or issue
- Clearly defining and measuring the target population and geography
- Proposing a solution that is innovative but also well-defined, realistic, and sustainable
- Writing in a professional style (no grammatical errors, incomplete sentences, or run-on sentences)
- Using the business model outline and covering all the listed topics in 3-4 pages
- Effective use of relevant, high-quality, secondary research sources (ex. for local industry size data, target market segmentation size data, and financial benchmarking)
- Incorporating a data visualization (ex. a data map, graph, or chart)
- Effective use of primary research (for example, a personal interview)
- Proper use of APA or MLA citations (within your text as well as the works cited list)
Judges?
Morgan Ritchie-Baum and Christina Adams, entrepreneurship librarians at the public libraries of Greensboro and High Point (and BLINC friends), agreed to serve. Professor Welch recruited Pete Peters, a retired, serial life-sciences entrepreneur who also founded some non-profits and taught as an adjunct. Plan B for judges would have been reaching out to some of the NGO leaders in Greensboro whom I’ve met through experiential learning classes.
Promotion?
Emails to the faculty who teach social entrepreneurship classes, mostly.
Money and February 13 event?
Another quote from the libguide:
The UNCG University Libraries is offering $400 each to the best undergraduate and graduate student social entrepreneurship business models. Second-place submissions will earn $100 each. Participants must be current students. The business models can be past class projects or can be written for this competition.
So I did decide to spread the money around a bit. If we had two graduate competitors and two undergraduate competitors summarizing their business models in the final round during “Entrepreneurship Everywhere” on February 13, then all four students would win some money.
So what happened?
No submissions!
Afterwards I talked to a few students in the target classes. They said their business models were due at the end of the semester and so were barely started by mid-February. (Most UNCG students work to support themselves and so don’t have time to do big projects outside of class work.)
At SOUCABL in early March, I discussed my revised plan:
- New deadline: April 30 (reading day)
- Re-promote the competition to the social entrepreneurship classes, circulate paper fliers, and ask for the professor to also share the flier via Canvas.
- Hold the final event in the library’s attractive Special Collections reading room, not the cavernous student union ballroom.
Then I drove back to North Carolina on Saturday, returned to work on Monday, and then the campus shut down.
Final chapter
I didn’t want to convert the final event to a Zoom session. (Writing this here at the end of semester, Zoom fatigue is now quite apparent.) So I wrote the judges and Professor Welsh:
I’m very sorry, but I’ve decided to cancel the competition for this school year. The final presentations and award ceremony were supposed to be a celebration of the winners and the idea of social entrepreneurship, plus serve as a promotional opportunity for the library and the UNCG cross-campus entrepreneurship program. I don’t think we could accomplish those goals in an online environment. Plus, students (and many of the faculty too) are getting really tired this semester from doing school in the new normal and I don’t think there would be much energy left in early May for even an online event.
Epilogue
I’m not going to decide right away about pursuing this idea in 2020-21. Will the campus be open this fall? Given the budget cuts coming, could I get $1,000 from library administration? Will I have more time to devote to promotion than in 2019-20?
Having a cross-campus event on social entrepreneurship in the library would certainly help promote this topic as well as the library as a promoter of and partner in solving problems in our community. I already have strong connections to the cross-campus entrepreneurship program. Would my time and energy be better served by trying to better connect with programs I don’t have strong connections with?
So to be determined. But at least the library tried something new.
Appendix
Business model for the Social Entrepreneurship Competition
Business model © Dr. Dianne Welsh, 2019 (which some small additions)
Financial form © Noah Reynolds, 2019.
A. Business Overview
- Describe your idea and business model: Who does what with whom and how? Who pays for it?
- Financial value proposition: Why is this great idea from a monetary standpoint-for the people investing in the service or product? For the target market?
- Value proposition: What is your niche? Who are you selling to and why are they buying your product of service?
- Vision: What is the ultimate objective of your plan?
B. The Industry & Market
- Customer Identification: who is the target population, consumers, non-profits, or businesses? (B2C or B2B)
- Market size, analysis and forecast: What is the need?
- Industry analysis and forecast: Who else is delivering this service already? What is the outlook on this type of activity?
- Your competitive advantage: What makes your business or nonprofit the best qualified/positioned to deliver the good or service you are proposing?
C. Financial Analysis
- Funding sources: Where will the money actually come from for the activity? What funding already exists or is committed?
- Discuss assumptions and capital requirements.
D. Funding/next steps
- How much funding does your plan require to get off the ground?
- How much time does your plan require to get off the ground?
E. References
F. Financials: fill out the four boxes below
Read Full Post »