Posts

Posted on

Perfect Pitch: A Workshop with Cairn Cross

This post was written by Kevin Hoskins ’18

The members of The Sustainable Innovation MBA program at UVM were recently treated to a workshop on pitching by Cairn Cross. Cross is the co-founder and managing director of FreshTracks Capital, a venture capital firm based in Vermont that invests in early stage entrepreneurial companies. (He is part of The Sustainable Innovation MBA program’s Changemaker Network, as well as teaching the program’s class on venture capital.)

What is pitching? It is the art and skill of describing one’s project, entrepreneurial venture, or oneself in the minimal amount of words that communicates your message to the listener.  For startups and entrepreneurs, it is a skill that can be developed and honed over time with practice and feedback.

Cross began the workshop by outlining a number of different pitching styles. The first, is the one sentence pitch, as illustrated further by Adeo Rossi. It answers the question: “If you had to describe your company or mission in one sentence, what would it sound like?” For entrepreneurs, that response could look like this:

My (company) is developing (a well-defined offering) to help (the audience you’re targeting) (solve this problem) with (your secret sauce.)

The second style is the mantra. A mantra is a sacred verbal formula repeated in prayer, meditation or incantation such as an invocation of a god, a magic spell or a syllable or portion of scripture containing mystical potentialities.  Entrepreneurs and start-ups can use mantras to explain their mission in only a few crucial words. Guy Kawasaki, in his video Don’t Write a Mission Statement, Write a Mantra, gives a few helpful examples:

  • Starbucks: rewarding everyday moments
  • eBay: democratize commerce
  • Disney: fun family entertainment

The class was then asked to come up with mantras for The Sustainable Innovation MBA program. It’s important to remember that mantras should be short and sweet, but also outwardly focused. Your mantra should focus on the benefits that you provide to the customer.

Thirdly, Cross discussed the Art of the Pitch for entrepreneurs. The idea behind this is that entrepreneurs should always be prepared with a pitch handy for potential investors, co-founders, or partners. The pitch outline Cross illustrated and the questions you should answer in your pitch is as follows:

  • Title (name, organization, contact information)
  • The “Ask” (I am here today to ask you…)
  • The Problem (what is customer pain you will alleviate?)
  • Your Solution (why are we better?)
  • Your Management Team (why are you the one(s)?)
  • Your Business Model (how will you make money?)
  • Any Underlying “Magic” (what is your secret sauce?)
  • How Will You Reach the Customer? (sales/marketing)
  • Repeat the “Ask”

Cross noted that pitches should be as concise and succinct as possible. Remember that you can only speak at most 150 words a minute comfortably. It’s also helpful, Cross noted, to think of someone on your shoulder whispering “so what?” to better focus on the value your offer needs to create for others.

Lastly, Cross touched upon the idea of the personal pitch. Have a way to describe who you are what you do clearly and succinctly in a way that resonates with people. As a way to frame your personal pitch, think of these questions:

  • What’s your motivation?
  • What do you do well?
  • Why you?

Answering those questions is key to communicating your personal secret sauce.

Do you have a business idea that you’ve been working on? Can you say it in 140 characters or less? Tweet your business idea to @vtcairncross. Just remember to keep it concise!

Editor’s Note: What should we call a business pitch delivered by tweet? A “twitch”? Or a “peetch”?

Posted on

The Year In Review: The Grossman School of Business

In addition to being ranked as the best Green MBA in the United States by the Princeton Review, The Sustainable Innovation MBA is a flagship program at the University of Vermont’s Grossman School of Business. The Grossman School of Business has as its mission to prepare students — undergraduates as well as post-graduates — to be thoughtful, agile business leaders in a complex and dynamic global environment.

The just-released Dean’s Report for 2017 details a year of continued accolades, growth, and student success for the School. Click here — or the picture above — to read the Report.

Learn more about The Sustainable Innovation MBA, or download our e-book here.

Posted on

Yes, VECAN: Exploring Local Climate Solutions

This post was written by Henry Rabinowitz ’18

I had the chance to attend the Vermont Energy and Climate Action Network (VECAN) conference December 2 along with fellow Sustainable Innovation MBA candidate Sam Carey. The event, which has been held annually for the last ten years at the Lake Morey Resort in Fairlee, VT, offered a chance to meet and network with an eclectic group of activists, energy committee members, state employees, and business people, who are all working to solve the problem of climate change on a practical, local level here in Vermont.

A large portion of the conference’s attendees were people serving on local energy committees — people looking for ways to identify action plans for their towns and communities to implement specific environmentally minded policies and improvements.

In the first session, I attended a panel on engaging low income communities with climate solutions, where representatives of three organizations promoting building and home weatherization and efficiency improvements presented their activities. After lunch, I went to a workshop focused on bringing together green energy and agriculture. Three representatives of the Vermont Agency for Agriculture Food & Markets presented on a variety of techniques for farmers to improve their energy efficiency, from installation of mixed use solar (where animals can graze alongside or under solar panels) and pollinator friendly solar installations (where a variety of native grasses and plants are included in a solar project) to biomass energy projects like large scale methane digesters and high-efficiency wood pellet and chip burning furnaces to replace oil heat in structures of varying size.

In my opinion, the most transformational element of the day’s activities was the keynote by former EPA head Gina McCarthy, who was impassioned, extraordinarily knowledgeable and, frankly hilarious—if you haven’t had a chance to hear her speak, I highly recommend finding one of her speeches online.

The day was a reminder to me of just how engaged Vermonters are with climate change, and how excited people you encounter here every day are about the opportunities that come with the challenges it brings.

Photo credit: VECAN

Posted on

Burlington Hosts “Slow Money” Food Economy Entrepreneurs

This post was written by Ariella Pasackow ’18

On December 6, Slow Money Vermont hosted its 3rd annual Entrepreneurial Showcase at the Main Street Landing Performing Art Center in Burlington. Together with the Moulton Law Group, Milk Money, Flexible Capital Fund, City Market, and other sponsors, the program brought together entrepreneurs and investors with a shared vision for local, sustainable food and farms. Slow Money Vermont “catalyzes new investment opportunities in the people, businesses and community that contribute to a sustainable food economy.” A project of the Farm to Plate Network, Slow Money Vermont is part of a national movement headquartered in Boulder, Colorado.

The Entrepreneurial Showcase presented two panels, along with opening remarks by Slow Money Vermont chair Eric DeLuca. The plenary panel was introduced by Janice St. Onge, president of Flexible Capital Fund, who discussed the life cycle of businesses and the need for a succession plan. Allison Hooper from Vermont Creamery and Bill Cherry from Switchback Brewing Company both spoke to their own exit strategies, and the challenges of thinking about selling your business before you even begin. After years of discussion and possible “suitors,” Vermont Creamery was purchased by Minnesota based Land O’Lakes in March 2017. Switchback Brewing became employee owned in February 2017, and changed their logo to reflect that decision: “Employee & Vermont Owned, Forever.” Matt Cropp from Vermont Employee Ownership Center also joined the panel to discuss broad based employee ownership programs and the ESOP model. Panelists offered advice to aspiring entrepreneurs to think about the culture that want to cultivate within their company and the legacy they want to leave behind.

Following the panel, five entrepreneurs presented a brief pitch, including an “ask” for capital and other resources, with time for questions and answers. Kimball Brook Farm, Zenbarn, Metta Earth, Kingdom View Compost at Tamerlane Farm, and Eden Specialty Ciders shared their story and plans for future growth, and showcased the diversity of businesses throughout the state. Audience members asked about the opportunities and challenges the entrepreneurs faced, and what they needed to help them succeed. Though each entrepreneur was seeking to solve very different problems, they were all committed to growing companies grounded in local, sustainable, and innovative business practices and beliefs. Additional information about the Slow Money Movement can be found here.

Posted on

Localize It! Conference Highlights Reinventing Local Economies

This post was written by Ian Dechow ’18

The Localize It! Conference convened earlier this fall in South Royalton at Vermont Law School. The conference brought together speakers and participants who were passionate about system change via reinventing and reinvigorating local economies.

One of the key points many of the speakers made throughout the weekend was on mindset. Changing mindsets about the current globalized economy is the first step towards changing the system as a whole. One of the ways speakers encouraged a change in mindset was to recognize that in our current system we commodify all aspects of our life. Indigenous Leader Sherri Mitchell pointed out that when people are “single,” one might say they are “on the market.” With this commodification comes the idea that acquiring money is the only part of the economy that matters. The Localize It conference sought to put this notion to rest.

Continue reading “Localize It! Conference Highlights Reinventing Local Economies”

Posted on

The Sustainable Innovation MBA Trade Show: Showcasing Innovation

This post was written by Seth Gillim ’18

On the last day of November, the students of The Sustainable Innovation MBA hosted their annual Business Model Trade Show in the bustling lobby of Kalkin Hall. Visitors toured booths, sampled products and learned about the creative enterprises students have been working on throughout Module 2. For the students, it was a great opportunity to hone their elevator pitch and get feedback for their business ideas from noted visitors like venture capitalist and UVM alum David Aronoff, a general partner at Flybridge Capital Partners.

The Trade Show is the brainchild of professor Erik Monsen. His course, Crafting the Entrepreneurial Business Model, focuses on developing and assessing the viability of a business from the ground up. Students draw on their core MBA toolkit in finance, accounting, marketing and business strategy to dream up new, sustainable ventures that create value in innovative ways. The goal is to become more comfortable thinking entrepreneurially, as well as understand the inherent challenges and complexities of launching new ventures.

Many of the businesses focus on creating consumer goods that fill an unmet or underserved need in the marketplace. For instance, B3 is a consumer health company that offers simple, effective and environmentally friendly shampoo products made entirely from water, baking soda, and essential oils. Visitors to the trade show learned that the average shampoo contains more than 30 ingredients, many of which are known to cause adverse health and environmental effects. Another team of students with science and engineering backgrounds created Conscious Coffee Pods: small on the go servings of coffee in an algae-based pod that are shelf-stable, easily dissolved in water, and produce no packaging waste. Yet a third team created Flip Balm, an on the go algae-based sunscreen that attaches to a wristband made of recycled ocean plastic.

Other groups of students focused on using the for-profit model to deliver consumer services efficiently and equitably. A team of students founded Pathways, an organization that works to connect with place high school students in gap year programs around the world. In addition to placements, Pathways teaches critical life skills like cultural competency, work-life balance, focus and healthy risk-taking. Still another group have formed Tiny Bliss, a micro-community of Tiny Homes offering a unique rent-to-equity model where tenants have a portion of each month’s rent set aside and invested.  One of the biggest challenges facing millennials is they cannot set aside enough for a mortgage down payment due to the high cost of rent. Tiny Bliss’ flexible financial model seeks to solve this problem while offering fun, alternative and low-carbon living at the same time.

Other start-ups included a shared workspace venture, a location-based app that matches consumers with their social interests, and a novel building supply company that sources reclaimed materials like pallets and glass bottles for DIY construction projects.

The Business Models trade show is quintessential SIMBA: students’ imagination and entrepreneurial grit is on full display, as is their hard-nosed attention to financial cost models and real-world constraints and challenges of launching a start-up.

Posted on

Getting to Know the Class of 2018: Mark Mallory

Mark Mallory ’18 did his undergraduate work at UVM, earning a degree in community entrepreneurship with a minor in economics. After a period of travel, and gaining experience in sales and real estate management, Mark returned to his alma mater and The Sustainable Innovation MBA. He was interviewed by Isabel Russell, an undergraduate at UVM.

Why did you choose to attend The Sustainable Innovation MBA program?

I chose to attend the program because I want to expand my knowledge of business and sustainability and use that knowledge — and connections made through the program — to propel my career. I have high aspirations to be successful in the business world and make a lasting impact on society.

What has been your favorite part/element of the program thus far?

My favorite aspect of the program has been the collaborative and supportive environment from both the faculty and classmates. I also am enjoying the broad and in-depth curriculum that challenges us every day. I think that what we’re learning is going to very relevant and applicable in the current world and into the future.

What are three things someone considering the program should be aware of?

  1. The program moves quickly. You’ll need to be proactive and manage time well.
  2. The main difference from traditional MBAs is the emphasis on collaboration and teamwork (which I think is very relevant for the modern landscape).
  3. There is a ton of information to soak in. I would advise not to get ridiculously caught up in every little detail that is presented throughout all the courses in the program. Part of this year is to learn more about what interests you and to understand how to leverage the tools that The Sustainable Innovation MBA is giving to go and succeed in the real world. Getting stressed out over small details I think can potentially limit ones ability to maximize their time in the program.

How has The Sustainable Innovation MBA helped you?

The program is giving me the tools that I need to succeed in the business world. We are learning all of the foundations of business, but taking into account how it relates to the world today and how business will look in the future. The collaboration with students from a variety of backgrounds have given me many new perspectives, which I think is helping me grow as an individual and understand new ideas and possible solutions to problems. I have also gained much more insight about career opportunities through the connections I have made.

Posted on

Making Time for Reflection: Module 2 Comes to An End

This post was written by Greg Paylor ’18

The final two weeks of Module 2 have arrived! As have exams, the due dates of many individual assignments, and many team related deliverables. It’s an exciting time and the pressure dial has been cranked up a few notches. In an intensive MBA program such as this one, especially now, I find myself completing tasks and moving on to the next in rapid succession.

Finding time to both reflect on and celebrate successful team projects, or debrief on things that could have worked better, has often taken a backseat to other pressing needs.

One of my favorite assignments from this module came in our Leading for Sustainable Innovation class with Professor Kenneth De Roeck. We were asked to write two “Leadership Reflection” papers on past experiences we have had pertaining to leadership and motivation. Professor De Roeck would then use student responses (anonymously) in class to frame course concepts and organizational behavior theories.

At a very high level, some of the questions that we were prompted with were: “Describe an Experience with Injustice (Unfair Treatment) in the
Workplace”, “Insights about Your Own Less-Than- Ideal Performance,” “Describe a Leader that Inspired (or Inspires) You,” and “Describe Your Experience(s) with Organizational Change.” Sitting down to write
these papers was truly an experience. I found myself thinking about things that hadn’t crossed my mind in years.

As Module 2 comes to an end and winter break begins, first and foremost I am looking forward to spending quality time with my wonderful wife. I am also looking forward to reflecting on these first two modules and really  reexamining and interpreting the experiences that I have had in this program because so much has happened already. It is with reflection that we gain a new understanding and making time for this will be a priority for me going forward.

Posted on

Together Like Peas and Carrots: Managing Your Semester and Your CSA…

Are they simply veggies in your refrigerator? Think again as Madeline Brumberg ’18 reflects on the learning, networking, and self-management opportunities in her fall CSA.

By the end of the week, I am usually ready to catch up on missed sleep or take off to the woods with my dog. The sight of my fridge, however, chock full of vegetables waiting to be cooked, tells me I better stay inside and cook.

This was the weekly struggle this semester as I attempted to keep up with classwork, teamwork, and a community supported agriculture (CSA) share. My share, paid for at the beginning of the season to provide farmers a more stable income and seed start up costs, got delivered weekly to a campus drop off spot.  (For more information about CSAs please see this blog post from a local farm.) As the seasons changed, my share changed from bags of lettuce, cucumbers, and tomatoes, to bags of potatoes, squash, and kale.  The share which I chose was very abundant and I had to be very diligent in cooking to minimize my food waste.

A number of other students in the program also had CSAs and we swapped ideas for getting through seemingly endless amounts of carrots and cabbage.  We all depended heavily of veggie stir fries with a side of rice or quinoa, but this got dull after a couple of weeks and we had to branch out.  A favorite recipe to emerge out of desperation to use up cabbage and potatoes was a stir fry of those two with ground sausage from Vermont Salumi, whole-grain mustard, and pepitas. The excess CSA veggies brought some of the students together for homemade dinners.  We used the opportunity to collaborate on recipes, talk through assignments, study for exams, and unwind after a long week of classes.

Managing to use vegetables before they went bad and getting my homework done provided me with an excellent opportunity to practice time management.  I depended on my crockpot and roasting so that I could cook and do assignments at the same time.  Sometimes, though, I would take the evening off to go through my whole fridge and cook up anything and everything in there.  Those nights were an opportunity for me to reflect on what I was learning in this program.  With the break neck speed of this program, finding moments like these have been paramount.  Getting through CSA vegetables has been a good excuse to do just that.

So is it possible to get through your CSA and your semester?  Yes, it just takes a little planning and some teamwork.

Posted on

Work Hard, Play Hard: Making Time for A Little Fun

This post was written by Kaitlin Sampson ’18

As the semester ends it’s important to reflect on the amazing amount of work we’ve accomplished — and the fun we’ve had.  After spending our days in class and our nights reading, writing, and studying it’s hard to believe we might have a free minute, but there’s always time for a little fun.  This semester The Sustainable Innovation MBA cohort enjoyed a variety of activities outside the classroom.  Here’s a small recap of the many events and activities we participated in outside of The Sustainable Innovation MBA classroom.

Hiking & Biking and More

With some very experienced hikers in this year’s cohort we’ve had a handful of successful hikes including Mt. Mansfield and Starks Nest.  Other classmates have hit the road and enjoyed a charity bike ride for Old Spokes Home and one of our very own classmates, Becky Miller, led a local yoga class that many attended.  Being a graduate student at UVM means you get to enjoy a beautiful landscape and a vibrant community. Beyond the university offerings, Burlington has a variety of outdoor offerings for everyone.

Intramural Sports

During the semester, almost half of our class participated in intramural sports offered by campus recreation. Campus Recreation offers a variety of options from multi-week team sports to one-night clinics, all free, or practically free.  As a class we competed in broomball, kickball and volleyball. Games are weekly and the games and the season-ending tournament usually last from 4  to 6 weeks.  While we didn’t take home any campus-wide championships this semester, we won some games, worked off some steam and got a little exercise, which is always nice after sitting in class for most of the day.  There were also awesome events like a “Learn How to Curl” event in which a local curling club taught us the basics of curling.  Due to our busy schedules, we won’t be joining the 2018 Winter Olympics, but we might shoot for the 2022 Winter games.

Pot Lucks

Who doesn’t love food?  Luckily our class is blessed with some amazing cooks and bakers alike, making any pot luck gathering irresistible.  From our first fall BBQ, which included way too much food, to our “Simbagiving” dinner we always enjoy gathering outside of the classroom to share a meal.  It’s a great opportunity to try some new cuisine and learn more about our classmates.  Next up on our agenda is an Ugly Sweater Party to celebrate the end of the semester!

A Little More Fun…

Other Fun Activities have included group trips to get our flu shots, concerts, and many magical trips to the UVM Medical Center’s Harvest Café where we enjoy breakfast, lunch and snacks.  Later this winter, we’ll be taking a trip to King Arthur Flour and are looking forward to enjoying our student ski passes at Sugarbush, Stowe and Bolton.  All in all we’re busy, but don’t let our many academic blog posts fool you — we still have time for a little fun.