The University of Louisiana at Lafayette and the B.I. Moody III College of Business Administration aim to connect students interested in entrepreneurship with Acadiana's business leaders through a pilot of the Adopt an Entrepreneur Initiative.
How it works:
A maximum of sixty (60) students may enroll in the Introduction to Innovation and Entrepreneurship course (MGMT 200) each semester. Most of these students are interested in starting and owning their own business, either during or following the completion of their studies at UL Lafayette. Many of these students have no idea what it means to start or run a successful business. By 'adopting' one of these students, you become their mentor for a semester. At two points during the semester, we ask that you open your business' doors to provide a behind-the-scenes experience for your adoptee to learn about your business operations. You will not share any confidential information, just provide a "ride-along" or shadowing experience for the student. At the end of the semester, we will be inviting all of our small business adopters to a pitch competition where adoptees will pitch the results/findings of their semester projects.
Pictured above: Student adoptees compete in the end of the semester pitch competition.
Duration: One semester
Investment: Maximum 4 hours of your time
Return on Investment (ROI):
• Each student will be required to make a “Thank you” video, thanking adopters for their contributions. Adopters can share these videos on their social media outlets/websites as a means of generating great publicity.
• Each student will be required to meet with their adopter twice during the semester, at the adopter’s convenience, so that students become more familiar with the realities faced by successful entrepreneurs. The course instructor will provide adopters and adoptees with guidelines to achieve maximum impact and efficiency during their visits (see below).
• Each student will be required to pitch their semester project in front of all adopters for a chance to win prize money to help with future business planning. The prize money has been donated by the Broussard Economic Development Corporation.
• Reece Theriot, Instructor of Sales & Entrepreneurship
• Mobile: 337-255-6483
• Email: Theriot@louisiana.edu
Note: If you decide to adopt a student-entrepreneur, your contact information will be shared with one student at random. That student is to contact you and schedule a two hour session with you, at a time and place that is convenient for you. Feel free to walk students around your facilities, show them assets and inventories, etc.
Students will ask you the following:
• Why did you choose to own/operate this business?
• Company background/history
• Define the different groups of people or organizations your enterprise aims to serve
• Describe the bundle of products and services that create value for your specific customer segments (value propositions)
• Describe how your company communicates with and reaches your customer segments to deliver the value proposition
• Describe the types of relationships your company establishes with specific customer segments
• Describe the approximate profit margin your company generally generates from each customer segment/product/service
Note: Again, the student is to contact you and schedule a two hour session with you, at a time and place that is convenient for you. Feel free to walk students around your facilities, show them assets and inventories, etc.
Student will ask you the following:
• What are the most important assets required to make your business model work?
• What are the most important things your company must do to make your business model work?
• What network of suppliers / partners are needed to make your business model work?
• Describes all costs incurred to operate your business model