I just entered the Tufts $100K Business Plan Competition with my new company
Stateless Creations
"The mission of Stateless Creations is to revolutionize the building block toy industry by taking building blocks, embedding technology and offering a bridge between the physical and virtual worlds."
Due to the plans being submitted through YouNoodle, it is possible to see the name and public description of the company that you submit.
I've been looking through my competition, and decided to post my thoughts about them.
Below is the list as of the submission deadline, 01/16/2009.
CBC Consulting Group Environmental Advocacy
Our mission is to reduce America’s dependency on fossil fuel by educating home and small business owners about the harmful effects of green house gases on our environment and how they can benefit from using renewable energy sources.
Fine idea, but I'd like to know how you're making money, why home and small business owners care. If they cared, they would've already read things like the PickensPlan. He plans to spend $58 Million to spread the word of his plan. How do you compete with that, and get funding with the prospect of paying back investors?
Igig. Inc
Igig Inc. is an internet-based social networking and collaboration tool for local communities of musicians.
Update 1/24/2009: I met a member of this team in class today - learned a bit more about what they're trying to do and what their profit model is. I have no doubt that there's demand for the service, but perhaps they could be stronger with a different profit model from advertising supported. Perhaps Match.com-style model. Convince musicians you're providing a value-add, and offer a subscriber service. Or don't call it advertising supported but call it sponsor-partnered; and partner with a label to have contests for meeting, practicing, then winning a chance to play for a label and advance further.
Get the label to pay
Get the users to pay
Offer public-content (samples of paying users) for free
D&Co: HeadCase
D&Co. is a device prototyping firm specializing in bringing innovative, health-oriented consumer technologies to market
Too small of a market - How many health-oriented consumer technologies are brought to market each year? Why would someone choose you over any other proto-typer? How will they learn about you? How will you compete with other prototypers?
Concept Yachts
Concept Yachts will revolutionize the sailing industry by making it what it inherently should be: green.
I don't know enough about sailing to even understand why sailing isn't green. Pass.
Greener Boston
"Ushering in a world of Green"
Company description fail.
Alera LLC
Alera LLC produces specialized seaweed for regular manufacturing and research and development used in biofuel companies. Additionally it aims to be a carbon-offsetting entity in order to fulfill its environmentally responsible mission.
So you make seaweed? Why is your seaweed better than real seaweed? I guess I don't know enough about biofuel to understand that there's really a demand for this? Why wouldn't anyone who wants to use seaweed in their biofuel just get real seaweed?
RouteChooser
RouteChooser is a one stop travel comparison website through which travelers can assess the costs and benefits of various means of travel such as bus, car, train and plane.
Fine idea - But I think they will quickly discover that this is extremely difficult - the company I work for, ITA Software, did this for the Airline industry -- worked with all major carriers to consolidate their data and make it searchable. Car is easy: plenty of people have figured out the car travel mile calculation; you throw in gas pricing along the way and you have that one solved. Bus: There are a ton of bus carriers across the country. Train: Same here. This could work in a specific metro area with limited separate transportation systems. For example, you could do Boston<->NYC<->Philly without much difficulty, as there are only so many trains and buses which serve between these areas.
This equation also starts to get more complicated if you're actually attempting to compare all these on cost:
Car goes direct from location to location -- but How do you factor in transportation costs to the airport the bus terminal or the train station? Parking your car at the airport? Tolls for car-travel, and transportation at your destination for train,bus,plane vs. your own car? I think as these equations all start to get factored in the problem either becomes too sprawling (again for more than a limited metro to metro area) -- or end users become overwhelmed with entering all the details to answer a question they already know the answer to.
JobVid.com
JobVid.com is a network of part time and contract workers available for hire.
Its called eLance.com, see also Craigslist, Angie's List and any number of other similar sites.
Yunlin Huang
Global Outsourcing is the online connection between outsource service buyers and providers worldwide.
You'd have to work real hard to convince me there's anything new or unique to this.
TabRides, Inc.
TabRides alleviates the problems with Boston's night-life transportation by providing a less expensive, more convenient, and safer alternative to taxis for college students and young professionals.
I can understand how someone feels there is a need here -- they had a bad experience with a taxi. What I don't understand is how they expect that there will be a less expensive (You have to pay the driver, the gas, the car), more convenient (convenience costs more money), and safer (costs more money again) alternative? The answer already exists: a friend. Until they tell you that they're not a taxi service 
DriveGen Corporation
DriveGen Corporation’s goal is to provide an alternative energy solution to the transportation industry, by using collecting wasted energy and converting it into useful energy through the use the DriveGen Panel System.
(i kid you not -- I did NOT retype that and forget key words) I hope the idea is much stronger.
Peelable Paints and Primer
We make a a peelable, rubber based, biodegradable, non toxic, temporary paint and primer that can be applied on to painted walls for a period of at least one year and then be removed by hand in one giant sheet without leaving any residue behind.
This sounds really different. I want to know more about who would use this product, how much it costs compared to alternatives, and if that price difference makes this attractive compared to the cleanup costs of a cheaper version.
Strivers Foundation
Strivers Foundation pairs a business workshop with start up loans for poor intelligent young adults in developing nations.
There are already a million of these - sounds like Kiva to me.
The Green Energy Project
You need electricity. We will give it to you.
My Electric company already does this (and by state law has to offer me renewable options also). Why are you different?
Dr. Cotes
Dr. Cotes designs and manufactures high-end white coats for physicians and dentists paying especial attention to form and function.
Cute name - Where is the demand here? Clothing? This does not scale - fails the back of the envelope test for being worth getting into; even if there is some need. Works better as a product-line extension for an existing corporation.
eClinic
eClinic delivers on the promise of health 2.0 by providing media-rich answers to users’ questions on health and wellness from a network of expert health providers
Google Health? PatientsLikeMe? Sermo?
Innovasource
Innovasource: An innovative outsourcing company employing college students to minimize costs and maximize efficiency in delivery of services
Every company already implements this. Interns, Co-Ops, Residencies. Why go to you instead of hiring directly? Or outsourcing overseas? With the current economic situation even College students can't find work, because everyone else is accepting the cheap jobs which use to only go to college students.
Overall, I'm a little disappointed -- I see only a small handful that I feel are a viable winners. Then again, Tufts Gordon Institute has been doing business plans as part of the class cirriculum for a few years; with over 50 presented to professors. Ours is the first that our professor knew of which seemed viable and is moving forward in an attempt to succeed. Wish us Luck!
#1 by Anonymouse on February 2nd, 2009 - 12:35 am
Dude! seriously your plan is the worst ever…Are you seriously a retard? You do know that you will be sued overnight by LEGO…And there already are products in the market which do that…May be you never bought a building block since your parents gifted a set to you on your fourth birthday..Seriously..what do they teach in Gordon Institute of Management..No wonder you did not get accepted to any proper B-School. Because you are dumb!
Shees! Get a life!
#2 by LogicX on February 2nd, 2009 - 12:54 am
I’m going to assume you feel I’ve said something non-positive about Innovasource?
I’d love to engage in a fruitful conversation to explore things further.
Responding to your comments:
Our group is not retarded — We have 4 members, two advisers, and an early version of our plan was presented to the class of 40.
We will not be sued by Lego – Lego’s patents on Lego blocks have expired, and their attempts at copyrighting the design have been squashed across the world. Major competitors now tout that their blocks are compatible with Lego, and they are not being sued.
What products in the marketplace already do what we’re proposing? The closest item is Lego’s own Mindstorms. While this allows for leveraging technology to do more with your Legos — it in no way enhances the experience of sharing your Lego creation with others.
We’ve actually just recently purchased Lego sets as part of our efforts, and one of the Co-Founders is a parent who purchases Legos on a regular basis for his son.
They teach us to think critically and clearly at Tufts Gordon Institute, which is demonstrated with how much thought has gone into our proposal.
I’m not sure what your definition of ‘proper’ is; but TGI is a well known school, and has a rather good business program. Of choices for Part-Time in the Boston area, my choices came down to Northeastern’s High Tech MBA, and Tufts. Tufts has a much more attractive class schedule, is 1/2 the cost, and was geographically closer to me – a smart choice!
In regards to Innovasource:
Please help answer some of my questions so I have a better understanding of Innovasource’s plan based on your one-liner:
“Why go to you instead of hiring directly? Or outsourcing overseas? With the current economic situation even College students can’t find work, because everyone else is accepting the cheap jobs which use to only go to college students.”
#3 by Z on March 12th, 2009 - 3:38 pm
I’ve been following this competition, and while I understand your fervor for your own company, your analysis of the other companies evidences only a modest grasp of their objectives. For instance Strivers Foundation does have an aspect of its operation which is similar to Kiva, in that it uses micro loans, but the educational component paired with the focus on selecting talented youth is entirely different. One of the people behind Strivers works for Kiva, and seeing the glaring weakness in their model, i.e. that they indiscriminately offer opportunities for anyone who applies and allow the public to assist even idiotic goals, he decided that a foundation such as Strivers would be doing a tremendous service.
While I understand your desire to vent, choosing such a public forum reflects very poorly on you, and demonstrates an immaturity which makes me seriously question you ability to run a company professionally.
Hopefully you will realize that you do not need to disingenuously dissect other organizations to feel confident in your own.
Regards,
Z
#4 by LogicX on March 12th, 2009 - 4:54 pm
Thank you Z for sharing your thoughts.
Perhaps I did a poor job of explaining the premise with which I commented on these companies. I absolutely agree with you that my analysis is based on a modest grasp of their objectives — I should have further emphasized what I said in my original post: “it is possible to see the name and public description of the company that you submit”.
Thats the ONLY information I had available that I based my comments on; and so I encourage anyone who wishes to share MORE information about their ventures publicly to do so; which obviously allows for better understanding of the viability of the concept – as you’ve done now.
With the post I was attempting to take the tact that any discriminating investor would after hearing of an idea or pitch. I’m not sure when voicing one’s opinion became a deterrent to successfully running a company. Regarding venting – I would propose that my voicing of opinion, and your response in opinion has helped us both to learn and grow.
I do realize that I do not need to disingenuously dissect other organizations – There was very little here to dissect, which is why 8 out of the 17 I asked questions for further understanding. By your own words – the definition of disingenuously being “lacking in frankness, candor, or sincerity; falsely or hypocritically ingenuous; insincere”, I would say I was being quite candor in my sharing of opinions.
I do profess that I came across more harsh on this particular post than those who know me would interpret my writings – so to those who were offended, I apologize. I looked at it more as an opportunity to conjecture at the feasibility of the entrants – of which those I was most interested in (RouteChooser and Peelable Paints and Alera) are now finalists.