Ouachita Stories

Seniors Jayson Harris, Jon Jacks, Jared Lantzsch and Tanner Trantham were recently awarded first place in Ouachita Baptist University’s sixth annual Business Plan Competition. A total of $10,000 was awarded to three student teams for their entrepreneurial ideas.

Averaging approximately 12-15 hours of work per week in preparation for the competition, students were given “exposure to the process of presenting their creative ideas in such a way that makes the world a better place,” said Justin Keeler, instructor of finance and faculty advisor to the winning team. “Participation in the business plan competition is for those individuals that want to embark on a journey that will develop and challenge them to become a better person, leader and team contributor that objectively focuses on solving a problems.”

Harris, a business administration/finance major from Maumelle, Ark.; Jacks, a business administration/finance and management major from Arkadelphia, Ark.; Lantzsch, a business administration/finance and management major from Rogers, Ark.; and Trantham, a Christian studies/Christian missions and business administration major from Benton, Ark.; earned a $4,000 first prize for their business, The Boom Doctors. The plan provides entrepreneurial experience to college students by running a fireworks stand. Justin Keeler, instructor of finance, served as the faculty advisor.

According to Harris, “The Boom Doctors seek to invest in future business leaders and give them real-world experience by cultivating and enabling them to manage a business with integrity, as well as teaching them the core responsibilities of leadership while maintaining a profitable business.”

“One of the challenges of business education is helping students see the intersection between class content and the real world of business,” noted Bryan McKinney, dean of the Hickingbotham School of Business. “This competition provides students wonderful opportunities to wrestle with that intersection between theory and practice. It’s a joy for faculty members to see their students applying what they’ve learned in the classroom in a real-world situation.”

Two teams tied for second place, each receiving a cash prize of $3,000.

The team of L.B. Hudson, a senior accounting major from El Dorado, Ark., and Evan McKinnon, a junior accounting and business administration/finance major also from El Dorado, created a business plan for Smooth Payment Processing System. Dr. Chris Brune, assistant professor of finance, served as faculty advisor for the team.

“SmoothService is a very direct, easy-to-use website with one main purpose – to connect our service providers to their clients,” said McKinnon, who conceptualized the idea with Hudson after working in the service industry. “It was a struggle to collect payments because a lot of the time while we were working for our clients, they were gone.”

“It really is a valuable experience for the students who participate,” added Brune. “Students in the competition have the opportunity to work as part of a team to develop a business plan from scratch and present it to a group of business leaders. The competition also provides an opportunity to see how different aspects of a business are related and to apply what is being taught in the classroom.”

Eric Ashburn, a senior business administration/finance major from Monroe, La.; Mitch Bledsoe, a senior business administration/marketing and sport management major from Collierville, Tenn.; Jalen Jones, a senior business administration/marketing and sport management major from Conway, Ark.; Barkley Legens, a senior business administration/marketing and management major from Martin, Tenn.; and Matt Mainiero, a senior business administration/marketing and sport management major from Austin, Texas, were also awarded second place and a $3,000 cash prize for Explosive Performance, a mobile strength and conditioning service for middle school and high school athletic programs. Their faculty advisor was Justin Keeler.

“One of our main points of emphasis is character building,” Mainiero explained. “We realize, as former student athletes, that playing days are numbered and will end. We want to instill a sense of strong character in high schoolers to prepare them for a successful life outside of their high school playing glory.”

Acknowledging that participation in the competition “promotes team building, confidence and leadership skills” and “a venue to propose and discuss ideas with colleagues while having faculty support and guidance in the process,” Keeler said, “I witnessed firsthand an essence of teamwork that only occurs in the moment and is driven by intensity.”

These three teams went on to compete against Henderson State University’s top plans in the annual OBU/HSU Business Plan Competition. Each winning team’s faculty advisor also was awarded $1,000 to support their work in the classroom.

For more information, contact Bryan McKinney, dean of the Hickingbotham School of Business, at [email protected] or (870) 245-5513.

 

By Chelsea Whelpley