Denzel Wilkins ’15 – We have just completed the second week of the LABB program, and up to this point we have learned about how finances work and a bit about investments. I must say I had no idea how either one of these aspects worked in the business world. After a week of site visits and lectures, I am confident that my knowledge is fairly well-rounded in these two categories. I am able to use this knowledge in the restaurant business plan my group is creating. So, not only are we given the information – we are able to apply them to real world activities, too.
My restaurant team consists of three people: Ryan Anzalone, Thanh Tran, and myself. We have been working on our business plan for about two weeks now and we found out that this is not as easy as we thought it would be. We are franchising Moe’s Southwest Grill and there are many different aspects that go into a business plan that we have to account for. Understanding a business plan is key to knowing what direction you want your business to go.
I would like to thank David Knott ’69, who gave us a huge wake up call about finances and investments. Also, I would like to thank Ron Zimmerman ’93, who came and talked to us about entrepreneurship and the difference between small businesses and large corporations. Finally, I would like to thank the Lilly Endowment for allowing students this opportunity to receive a crash course of business in a matter of a few weeks, considering we don’t have a business major. Overall, in the second week of the LABB program, I feel that we have already learned so much about business. I would encourage students to take advantage of this opportunity because it is beneficial and provides us with real world experiences. I am excited for the four weeks we have left and what we will know when we finish the program.