Drew Stults ’20 LABB Intern – When I first met the director of the CIBE, Roland Morin, he immediately recommended that I apply for the LABB summer internship program. At first, I was weary and skeptical, as doing the LABB program would mean that I’d have to spend a summer in Crawfordsville. However, after talking to past participants, I had heard good things about the program and it changed my mind. So, I went ahead and applied, and when I was offered the position, I accepted immediately. I’ve always had a deep founded passion for business, and the LABB program has allowed me to apply not only my pre-existing knowledge, but also to grow and learn more.
This first week has been incredibly eye opening. We talked about what it truly means to be an entrepreneur as well as the steps to take that allow one to become a better leader within the work place. Along with this, Roland taught us how to create a well-drafted business model and how to network properly. Furthermore, we’ve also learned how to build the perfect resume as well as a professional LinkedIn account. As you can see, we’ve had an incredibly busy, yet productive, first week at LABB.
Roland also introduced us to two consulting projects that we will be working on the remainder of the program, which is exciting because we could potentially bring a positive change to student life. We’ve also begun working with teams of 4 or 5 creating a new business model for a food truck. This business plan includes the products that we want to sell, how we plan on selling them, who we want to sell them to, and how much the product will cost. Along with this, we have created a balance sheet that tracks the total cost of the operation. We then will pitch our business model to “investors” who can choose which company they would like to invest in based on each team’s presentation.
Not only is LABB allowing us to apply our new business knowledge to real life situations, but we will also have the opportunity to travel to other businesses across Indiana to see their everyday functions. Along with this, we will get the opportunity to meet other entrepreneurs and network with professionals.
All of this, of course, would not be possible if not for the Lilly Endowment. We are gracious for this opportunity as it paves the way for our future success in our careers. Through the Lilly Endowment, Wabash College is able to give students like myself to understand business operations with real-life experience.
After only 5 days, I can already see myself learning new techniques and strategies and I am excited to see myself and my peers continue to develop over the next six weeks.