SVP Week 5: Gearing Up for Future Growth
During the early stages of their ventures, founders are faced with many choices that could have implications down the road. It can be easy to make decisions that benefit business growth in the short term, but seriously stifle the long-term success and flexibility of the venture, especially in regards to pursuing funding and initially structuring the business. The Summer Venture Program offers mentorship and guidance to help founders make informed legal and financial decisions. This week, SVP was visited by experts from both the venture capital and legal domains, preparing them for future success. Here’s the recap:
Monday, June 17th
- Every week at SVP begins with Team Updates, an accountability exercise where the venture teams inform each other of their accomplishments since the previous week and their goals for the next week.
- This week’s Lunch & Learn session was a discussion about angel investing led by legendary Boston investor Joe Caruso. Based on his 20+ years of entrepreneurial experience, Joe gave the teams valuable insight about the investor/entrepreneur relationship and how they can best prepare to receive funding.
Tuesday, June 18th
- In the Hot Seat Tuesday was fitness technology business TopForm. In a pitch aimed towards the coaches and program directors of travel basketball teams, Mike Carlson MBA ‘19 demonstrated the capabilities of TopForm’s technology. He received feedback on both his pacing and conversational presentation style.
- Many members of the SVP cohort participated in a legal workshop led by attorney Benjamin Howe of Holland & Knight LLP. A seasoned professional in the area of startup law, Howe walked teams through the most common pitfalls faced by growing startups. As many of the SVP businesses work through the process of incorporating and registering their businesses, Howe’s insights about which structures can best facilitate future funding were timely and invaluable.
Wednesday, June 19th
- Blank Center Entrepreneur in Residence and tech guru John Landry held office hours for the SVP businesses at WeWork.
- Dr. Andy Tollison of the Babson Speech Center held the latest session of his ongoing office hours at WeWork for ventures preparing for future pitches and presentations.
Thursday, June 20th
- Hoamsy, a platform designed to improve college students’ search for roommates and housing, entered the Hot Seat on Thursday. Founder Richard O’Brien MBA ‘20 practiced a presentation for future pitch competitions. The SVP cohort gave Richard feedback about honing in on the intended pitch audience.
This week, the Summer Venture Program will focus on branding, which has been a recurring theme in our Hot Seat discussions. We will be visited by branding expert Doug Fox, who will teach the SVP businesses how they can best promote their value propositions to their ideal customers. Check in next week for the recap! Until then, stay up to date with the latest SVP happenings in real time by following @babsoneship and #babsonsvp on Twitter and Instagram.
Want to meet all of the Summer Venture businesses and learn more about their progress? You can now RSVP for our Summer Venture Showcase at bit.ly/2019svp. The event will be held on Thursday, July 25th at the Federal Reserve Building in Boston, and we hope to see you there!