They have a printer and will often set up the day of/day before important networking events on campus or used a B2B model with other FME businesses on campus. You do give a good point that if there isn’t enough at stake that students wont apply themselves but going through the process of idea -> rocket pitch -> feasibility group -> business makes some people, especially those in C-Level/High positions of the business take it very seriously because you worked from the idea ground up.Īlso I’ve worked with Babson Business (same class) and a lot of their model revolves around INSTANT demand. Honestly I’ve had some bad times and it’s been a drag at times but I wouldn’t trade the experience for the world. Honestly while some businesses break even, some make a profit, some lose… it’s mostly about the experience that you go through. So what did the students learn while creating this FME business and why did they go forth with this business when a simple competitor analysis should have dissuaded them from going forth?įirst year student here currently going through the FME process. Some of the businesses seemed ill-conceived.įor example, the Babson Business ( ) seems to offer no advantage over any of the well-established business card printing services, but in fact charges much more ($7 for 25 cards compared to $10 for 250 cards at Vistaprint). If there isn’t enough at stake, the students might not apply themselves enough and as a result, fail to learn to the potential of the course. Yes, I believe the process is learning to found a business is great, but I also believe in achieving results as part of the learning process. And how many teams are able to pay back the $3,000 loan? While the FME is a terrific idea, I am curious about the actual results of the team businesses. Also, there is no information about the % of FME businesses that actually break even or make a profit and if the latter, how much profit. Several businesses, such Babson Business and Booster Butter, sounded trivial.
This sounds great but when I reviewed the descriptions of the actual FME businesses here: they didn’t seem substantive. The ideas for the businesses are all yours and, whether you’re selling a tangible product or providing a service, you’re encouraged to think about how your business meets a human need." Throughout the year, two dedicated faculty members-industry professionals-teach you the ins and outs of entrepreneurship, marketing, accounting, organizational behavior, information systems, and operations, while emphasizing the integrated role these functions have in a business.Ĭlasses of up to 40 students form teams of 10 students, and the College loans up to $3,000 as startup money for each business. "Babson’s Foundations of Management and Entrepreneurship (FME) course is an internationally recognized yearlong immersion into the business world, giving you the basic business background and real-world context you need for all your Babson courses-and your future career.