listen to this articleWhen Julie Pettis was looking for a way to honor her late parents, she didn't need to look any further than their motherhood for inspiration.
Her parents, Erma and Larry Pettis, met as students at NYU Brockport, New York, in the 1950s. The two studied education and became teachers, then transitioned and opened Pettis Pool in 1962.
The East Rochester and Greece-based business is celebrating its 62nd anniversary.n.d. Year of operation.
“My parents were great people,” said Pettis, vice president of Pettis Pools. “And when we were looking for a way to pay a lasting memorial to them, we looked no further than (State University of New York) Brockport.”
The result was the Pettis Business Idea Competition held at New York University Brockport, New York.
Pettis' parents have always been entrepreneurs at heart, so the idea of a business competition was a perfect fit, she said.
“It's great to promote entrepreneurship,” Pettis said, adding that he hopes the competition will have an impact on the students who participate.
The newly designed competition, overseen by the State University of New York at Brockport School of Business Administration, gives students a chance to win up to $2,500 in prizes provided by the Pettis family.
The competition, formerly known as the Pettis Business Plan Competition, has been held for the school's business students for more than a decade, but this year it has added several new elements.
It is currently open to all students at NYU Brockport, New York, and audience members listening to pitches can vote.
“This great business competition has been updated to be more accessible not only to students in the early stages of their academic careers in business, but also to students majoring in other programs,” said Michael Doyle, interim dean of the department. “It was done,” he said.
Our approach has also changed. Nowadays, business ideas are more important than business plans.
“We conducted a competition that focused on business ideas rather than written plans,” said Mayank Jaiswal, assistant professor of business/entrepreneurship.
He likens the current competition to the long-running TV show “Shark Tank.”
“We believe that the development of market-focused business ideas must be a key component to starting a new business,” Jaiswal said.
In collaboration with Savisesh Malampallail, an assistant professor in the Department of Marketing, the two created a short instructional video to help students without a business education participate in the contest.
“So many students want to start their own businesses, and our goal is to provide an incubator for those early ideas and help them start their own businesses,” Malampalailil said.
This year's participants will be asked to submit ideas for opening an open-kitchen Italian restaurant in Rochester.
The professors talked about factors students should consider when developing their ideas, such as who their target customers are. Other areas to cover include market size, estimated initial costs, and ideal launch time.
Jaiswal said it's important to show how your idea is different from other ideas and is less likely to be copied.
“Make your ideas unique, different, and sustainable,” he said in an instructional video.
Submit your first round via Mach form by March 29th.th. Judges will be local business owners and business advisors from the Brockport Small Business Development Center.
Finalists will be selected for presentation to the judging panel on Scholars Day on April 15th.th at McCue Auditorium. Additionally, viewers can vote for their favorites, which will count toward the final score.
go to Pettis Business Idea Competition (brockport.edu) Please enter for more information.
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