Minnesota School of Business-Blaine students in BS440: Entrepreneurship with Catherine Rice developed a comprehensive business plan for Prometheus Enterprises (soon to be Colwin Enterprises), which is owned and operated by Benjamin Colglaizer. Prometheus Enterprises is an innovative company that brings new and re-engineered games to gaming enthusiasts, as well as into new markets.
QuickBridge is an educational tool developed by Prometheus Enterprises to promote the game of bridge to a new generation of players by simplifying the seemingly difficult game. The seven students in Entrepreneurship were tasked with creating a comprehensive business plan to further promote QuickBridge to target markets, including high school and college students, and The American Contract Bridge League. The students researched the target markets, market trends, competition, supply chain, financials, and even learned how to play bridge. The result was a redesigned logo (pictured), a new Facebook page , a new marketing strategy, break-even analysis, and a five year plan, among other aspects of the project.
Once complete, the students presented the business plan to Benjamin Colglaizer of Prometheus Enterprises, and the Introduction to Business class, on campus, as though they were investors in the company and product. The plan was well received and the students were proud of what they accomplished.
One of the students in Entrepreneurship, Panyia Khang, had this to say about the experience, “Before taking this course, I would not have imagined how complicated and frustrating it can be to create a business plan. It takes a lot of patience, thought, and investigation to create a good business plan – no wonder those aspiring to become business owners must have a deep passion for the business they are starting. After taking this course, I can see why my family’s business failed. Our family had the funds to start it, but we lacked a plan.”
Another student, James Clark, states that this project made him “realize that it is not easy to go out and start a business, but if you do the work and take the responsibility on, you can create something and be profitable. This project has been a great experience.”
Ben Colglazier felt that this project met many genesis points for his company. He states that his “aim for the ‘QuickBridge Entrepreneurship Project’ was twofold: produce a coherent plan to bring a product to market and to make that process reproducible.” Ben plans to “take class feedback of the process and see if it can be codified and modeled as an incubator for newly designed games and bringing them to market.”
Minnesota School of Business uses applied learning to allow students to participate in community engagement and workplace application projects, so they are able to gain real-world experiences before they graduate.