{"id":735,"date":"2015-07-15T17:56:14","date_gmt":"2015-07-15T17:56:14","guid":{"rendered":"http:\/\/blog.wabash.edu\/summerinternships\/?p=735"},"modified":"2015-07-15T17:57:43","modified_gmt":"2015-07-15T17:57:43","slug":"john-dotlich-18-business-plan-presentations","status":"publish","type":"post","link":"https:\/\/blog.wabash.edu\/summerinternships\/2015\/07\/15\/john-dotlich-18-business-plan-presentations\/","title":{"rendered":"John Dotlich ’18 Business Plan Presentations"},"content":{"rendered":"
\"jhdotlic18\"<\/a>
Dotlich ’18<\/figcaption><\/figure>\n
\"Screen<\/a>
The LABB students present their Business plans in front of a panel of judges<\/figcaption><\/figure>\n

Over the course of this internship, we had the chance to create two business plans. This was an interesting, challenging, and rewarding experience that I am glad to have been a part of. The first business plan we were assigned to create was one for a restaurant. I was in the lucky group that was assigned to design a business plan for a food truck. The catch was that we only had a week to do it. My responsibility was writing the financial documents. This was a useful experience because we were taught how to use Excel<\/i> to create the financial spreadsheets, which will most likely be a useful skill to have in many future careers. Although it was time consuming and stressful, I do believe I learned a lot about budgets, income statements, cash flows, and balances. The next business plan we were assigned was to create an app. This was a challenge because in this technologically frenzied culture most app ideas already have been created. I had never heard of writing business plans for an app, but I have learned that there is more that goes into creating an app than you think. I had the assumption that if you were good with computers, creating an app would be cheap and easy; which is not true because designing and programming can take months and cost thousands of dollars to develop. The group I worked with came up with a business plan for an app that acted as an index for recipes and suggests meals that can be made from entering ingredients. Overall, I thought writing these business plans gave me useful tools that I will use later on and have given me confidence to be able to write my own someday. I learned about presenting to investors, working with partners, and the preparation that goes into creating the first version of a business plan. The only thing I wish was different was if we had more choice in what industry we were making business plans for, because I think it would be interesting to create a plan for a product or service company. I would like to thank the Lily Endowment through which I was able to take part in the LABB program.<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the course of this internship, we had the chance to create two business plans. This was an interesting, challenging, and rewarding experience that I am glad to have been a part […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8,29,13,12,95,43],"class_list":["post-735","post","type-post","status-publish","format-standard","hentry","category-2014-business-immersion","tag-business","tag-entrepreneurship","tag-labb","tag-lilly-endowment","tag-presentations","tag-public-speaking"],"w_featured_image_url":"https:\/\/blog.wabash.edu\/summerinternships\/wp-content\/uploads\/sites\/8\/2015\/07\/jhdotlic18.jpg","_links":{"self":[{"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/posts\/735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/comments?post=735"}],"version-history":[{"count":2,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/posts\/735\/revisions"}],"predecessor-version":[{"id":740,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/posts\/735\/revisions\/740"}],"wp:attachment":[{"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/media?parent=735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/categories?post=735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.wabash.edu\/summerinternships\/wp-json\/wp\/v2\/tags?post=735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}