The Leeds MBA Experience

Finally, the Front Range is back into a typical winter routine. Fifty-degree sunny days are standard, with a few snowy ones to even it out. This November and December were atypically cold and the snow took a long time to melt and just got dirty.

Background:
The InterLink program is a club of 1^st year MBAs, half from the US and half from somewhere else.  International students are matched up with US students and they usually get together for coffee or lunch once a week. The result of these meetings are that International students get a point person to ask questions about US culture; US students get to expand their network internationally and learn some really interesting things. This weekend we decided to take advantage of our excellent weather and get out as a group for a winter hiking experience.

Destination:
The Ceren St. Vrain trail is just west of Jamestown Colorado and only 35 minutes from Boulder. There is a flowing river during the summer and several very large flat spots that would be excellent for a group camping outing.  We went there because this trail is a bit different than most trails in Colorado.

There are large meadows full of tall lodgepole pines with no pine needles until high up the tree. The result is a trail that weaves through many bare trunks - it looks really cool.

Picnic with a view:
I was really happy with this trip because we made it very high up on the trail. Miller Rock has excellent back range views of Indian Peaks Wilderness Area and Longs Peak. It was a beautiful sunny day and we had a picnic at a big rock table of pasta salad, sandwiches (Reuben, peanut butter and Nutella) and some Tzatziki sauce with pita bread to dip.  We try to keep it international, even when in the wilderness.

Afterglow:
We ended up getting back to Boulder around 4pm and headed straight to Boulder Beer Co for a few libations to cap off the trip. Unfortunately, they were closed. But no worries, I don't mind leaving the trip open. Memories of the trip have been creeping back into my head over the last few days.

This trip is a great example of why I love this program.  It's full of smart people who like the outdoors and are not afraid to try something brand new.

This month, twenty-six students from the Leeds School of Business descended on Omaha to meet the man himself, Mr. Warren Buffett. In what we will call an 'invigorating' negative 25 degrees, the students traveled through the city to tour Nebraska Furniture Mart, followed by a Q&A session with Mr. Buffett at Berkshire Hathaway and lunch at his favorite restaurant, Piccolo's. After lunch each student was able to take a couple of pictures with Mr. Buffett, who was such an incredible sport... even getting down on one knee as though he was proposing to a student from another university! After the photo session we toured Borsheims, the jewelry store owned by Berkshire Hathaway. The staff was amazing, putting a $130,000 'museum quality' ring on my finger, demonstrating that they understand the value of gaining customers early!

I have included some 'Buffett insights' from the Q&A session below. Overall, I was delighted by his candid demeanor, sharing thoughts on everything from his recent foreign investments, to thoughts on personal relationships - making sure to remind us of 'what it's all about.' Here are some of my favorites:

"Over time, money will depreciate in value... the best hedge against that is your talent. Regardless of the currency, you'll get your share."

"Talent and realization of potential is the best asset in an inflationary period."

"Do you have an inner scorecard or outer scorecard? Would you rather be the worst lover and thought of as the best, or the best lover and thought of as the worst?"

"Getting a good idea funded in this country is a cinch!" -In response to a question about innovation, entrepreneurship and lending practices.

"Berkshire Hathaway is my canvas and I paint a picture. I hope people admire, but I paint for myself."

"You can always tell someone to go to hell tomorrow." -On having a positive attitude.

"Look around the room, who would you seek 10% ownership in, and who would you short 10%?" -On evaluating your peers and yourself.

How do you want people to remember you? Buffett: "At the end, I hope people will say 'Boy, he was old!'" 

Wow. It's amazing to think that the first semester of my final year in the MBA program is complete! Grades are in, break is nearly over and I'm ready to begin the final term!

So much happened over the last six weeks! Food & Wine Club had two events, both of which were held over Boulder's Restaurant Week, and absolutely spectacular! Thirteen students gathered at Salt, a new restaurant in Boulder, for a wonderful culinary experience and great service! Later that week, a large group of students, significant others and faculty joined together for a lovely meal at Black Cat. Overall, fall semester had great turn-out for each event and I am so excited for this semester's events: cooking classes, wine nights and a lovely meal at Frasca are in the works!

Warren Buffett Trip

I am also thrilled to report that for the second year, Leeds MBA students will be traveling to Omaha to meet Warren Buffett! Throughout the daylong trip, students will be visiting Berkshire Hathaway followed by lunch with 'The Oracle' himself and ending in a Q&A session where each school will ask Mr. Buffett three to five questions.

When I was selected to attend the trip I shared the news with a foodie friend of mine. He suggested that I lunch with one of his favorite customers, Ms. Herta Kahn, a peer of Warren Buffett and one of the first female stockbrokers in the US. She shared a story about being invited to the 100^th birthday party of a mutual friend of her and Warren Buffett's, and having to miss due to her late husband's illness. Ms. Kahn wrote Warren Buffett a letter asking for a rain check, and shortly thereafter received a handwritten letter from Mr. Buffett asking her to attend the annual shareholder meeting in Omaha.

We shared a lovely lunch, discussed her amazing experience in the world of finance and she even shared her thoughts on dating! I hope to have the opportunity to mention my lunch date to Mr. Buffett and look forward to posting details of our trip!

Last month, Michael Euperio and Rob Delwo, two second-year MBA students, organized a VC Boot Camp for CU business and law students. The event took place over two Fridays in November and brought six area venture capitalists which included: Kirk Holland of Vista Ventures, Pam Shepherd and Kim Bixel of Greenmont Capital, Jason Mendelson of the Foundry Group along with Brad Bernthal - CU Law professor, Chris Wand and Keating Investments.

In true *Boulder VC* form, the speakers provided a candid overview of the industry and their experience. Pam Shepherd and Kim Bixel from Greenmont Capital, two of four female Jr. VCs in the state, discussed how they became involved in the industry and the 'unique' focus of their firm as a fund investing in early-stage companies in the $500-billion Lifestyles of Health and Sustainability ("LOHAS") market.

Jason Mendelson of the Foundry Group along with Brad Bernthal, CU Law professor, led the group through a discussion about term-sheet negotiations, highlighting incentives, motivations and critical deal terms. The pair provided a very casual, yet highly informative session to the group.

It's rare that one would have such entre to the venture capital process however the accessibility of the VCs and their willingness to be engaged in the student community is characteristic of the strong entrepreneurial culture found in Boulder. Arguably one of the best events of the year!

Women who Inspire Me

A few years ago, I ran across an article (gotta love Oprah) that reflected on the search that many women undertake to find their ideal mentor. It discussed how women often seek a single person that embodies perfection in various aspects of life...you know, the woman who exhibits perfect work-life balance as she climbs the corporate ladder, attends her children's school functions, leads a non-profit, and works out every day? Then frustration mounts as they have a hard time identifying a person to 'fit the bill' in terms of their guidance. No wonder, considering they are looking for a super-woman, right?!

The article goes on to encourage women to look at the relationships they have with a variety of female mentors, and to cling on to the aspects of each that match their ideal; building a cadre of supportive women to reach out to for advice, perspective, etc. I've decided to start a blog series highlighting some of the women in my life and the mentorship that they offer.

A Woman in Finance

A few weeks ago I flew to NYC to help a very special friend pick out her wedding dress. During this trip her fiancé facilitated a meeting between me and his boss, a female executive at a real estate private equity firm with nearly $3B in assets. The meeting was incredible! Though an undoubtedly busy principal at a major PE firm, she was warm, friendly and eager to impart wisdom about her industry and career path. It was amazing to have a candid and comfortable conversation with such a successful individual. Not only did we discuss the company and industry, but also had a fairly frank conversation about 'framing the discussion' with potential employers regarding career preferences post-MBA. Our conversation ended with an offer to keep in touch throughout my last year in the program and the job hunt process.

A note to MBAs: you've heard it before, but the time actually spent in the MBA program is one of your greatest assets. Make sure to ask for 'informational interviews,' as professionals are eager to impart wisdom in a 'low pressure' situation where they do not feel like you are only there for a job. Make friends whenever possible and you may be surprised about the connections you make and the job that may be waiting out there for you!

The Women who Make Me Sweat

Last week the Leeds School of Business National Association of Women's MBAs (NAWMBA) attended an event at Bar Method, a fantastic new workout studio in Boulder that incorporates principles of ballet, yoga and pilates into each session. The owner took us though a class then gave an entrepreneurship talk about securing her venture's funding and how to create a business plan. After working in publishing for ~15 years, she sought to bring a new fitness option to Boulder that was built around values of service, community and of course, a great workout.

I have been a member at the studio for a few months now and I love what Bar Method has to offer. Not only is it a great workout, but the owner is always sharing perspective and happy to do whatever she can to build a strong sense of community. It's inspiring!

Food & Wine Club

Since my last post, a team of students and I launched the CU MBA Food & Wine Club. For the event, each attendee brought a bottle of wine that 'described' them in some way and shared their description, wishes for the club and varietal with the group. The evening was a great success, bringing over 45 MBAs and professors together in the name of great food, wine and conversation!

Upcoming events take full advantage of the 'food' component of the club, with two dinners planned at local restaurants during First Bite Boulder week! Food & Wine Club members will be dining at Salt, the new addition to the West End of Pearl St. and Black Cat, both of which utilize a 'farm to table' approach for their culinary offerings. I can hardly wait!

The fall term of my second year has been flying by, I can't believe we are already through the 3^rd week of classes and mid-term exams are around the corner. It seems like yesterday when we started the term and I set the goal for the 2^nd year of my MBA; to further my understanding of private equity investing (this includes venture capital investing), and ultimately, to start a career in this space.

This term I am taking three PE/VC related classes:

• PE/VC law: This course is taught by Prof Victor Fleisher and has provided an amazing overview on how private equity works. So far we have covered topics such as the structure of a PE/VC firm, the limited partner's perspective, commission structures and the history of private equity which includes legal acts such as Erisa. I'm excited to get into term sheets and the course project which will have us analyze a local VC firm and some tech start ups.

• Entrepreneurial finance: Prof Chris Leach is one of the most entertaining professors I have ever had, giving this class the potential to be my favorite MBA course.

• Business Plan Preparation: Prof George Desiro and Liz Snowden provide guidance as students go through the process of creating business plan. While there are differing opinions on the business plan process, I believe it adds a great deal of value to "new" entrepreneurs.

Next term I'm looking forward to taking Entrepreneurship and the Venture Capital Process, a new class offering taught by Prof Bret Fund. The class will operate in conjunction with the recently proposed Deming Center Venture Fund, a seed capital fund run by a group of Leeds MBA students. The class will go through deal flow, due diligence, investment decisions and portfolio management. The goal for the class is for students to further their education in entrepreneurship and venture capital, and to use the funding from the Deming Center Venture Fund to make a real investment.

As one of the managers of the finance club I am proud to say that we have expanded our offering on the PE/VC side. Our goal for the new division of the club is to promote the educational experience in private investing and to take advantage of the network of venture capitalists in the Boulder area.

I recently attended an event sponsored by the Colorado Bioscience Association called "Negotiating the Venture Capital Term Sheet". Brent Fassett from Cooley and Dan Mitchell from Sequel role-played a VC negotiation and took "character breaks" to explain the term sheet. The CU MBA class was well represented with 15 participants.

There are several other incredible events that are taking place in the near term, these include: "Ask the VC" with Jason Mendelson from the Foundry Group and a "One on One" with Brad Feld, also from the Foundry Group. On Nov 3^rd I will be volunteering for the NREL Industry Growth Forum which will provide exposure to private investors and entrepreneurs in CleanTech.

Lastly, the VC boot camp on Nov 6^th and 13^th will be a two day event, put on by the finance club that will feature an all-star line up of speakers including: Pam Shepherd and Kim Bixel from Greenmont Capital, Jason Mendelson from the Foundry group, CU law professor Brad Bernthal, and professional investor Chris Wand.

Hopefully by the end of this term I will have a strong understanding of private investing and will be slightly ahead of the game when it comes to finding a job this spring, but only time will tell. That's all for now, I'm off to write my application for the Venture Capital Investment Team!

I am so excited to share this blog, written by Daniel Moncayo about his experience in Guatemala this summer! Enjoy!

This afternoon I made my radio debut on ' Stereo 100' down here in Xela, Guatemala. I never thought I'd be interviewed in Spanish . . . in Guatemala . . .  on the topic of an appropriate technology business plan competition, but . . .  the way things are working out during this summer internship . . . why should I be surprised?

I'm having a great time in Guatemala working for an NGO called AIDG (The Appropriate Infrastructure Development Group)! AIDG researches and develops sustainable infrastructure solutions such as solar water heaters, biodigestors, and micro-hydro power stations, and then incubates local businesses that market and sell the technologies.

The field of 'appropriate technology' is fascinating and it's exciting to think about it from an entrepreneurial perspective; especially its application in an international development context. In case you are not familiar, allow me to share a bit about what I've learned so far about a couple of appropriate technologies.

Biodigestors, for example, are like small storage tanks filled with organic waste such as vegetable scraps and animal excrement that produce methane gas and effluent (a liquid fertilizer). The methane can be used to power stoves and lights in rural areas that lack access to utility infrastructure. The effluent is a rich and hearty fertilizer for crops or gardening.

AIDG developed the technology for low-cost solar water heaters, and a local incubated business manufactures and sells the heaters. They consist of sheets of glass over black galvanized tubing in a large panel connected to a reservoir. The sun generates enough heat for comfortable showers at night or in the morning.

Finally, another exciting technology is the Rocket Stove. Briefly, this is a wood-burning stove that utilizes a more efficient combustion chamber than traditional stoves. The Rocket Stove offers local Guatemalans several benefits including: time saved, fewer respiratory problems, and money saved since the wood burns more efficiently. You can learn more about these and other appropriate technologies, along with AIDG's business incubation strategy on AIDG's website - www.aidg.org

The majority of my summer internship is focused on the development and coordination of an appropriate technology business plan competition called GuateVerde . Check out our new website at: www.guateverde.com to learn more about it. In addition to developing publicity and website content, I am giving public presentations on the contest and I am helping to develop all-day entrepreneurial workshops. The Leeds MBA is definitely coming in handy as I develop the curriculum for the all-day workshops. In fact, the training course will teach future entrepreneurs about finance, marketing, business plans, and management and operations - topics I've become quite familiar with during Business School!

I feel inspired by my internship with AIDG because it provides exposure to creative and sustainable infrastructure ideas in a context where contamination is rampant, rivers are polluted, and trash is tossed through the windows of passing 'chicken buses.' I see a lot of potential for innovative ideas that are both profitable and sustainable. I also recognize the latent potential of local entrepreneurs who are accustomed to running small businesses such as liquor stores and internet cafes. I'm curious to see how these entrepreneurs will transfer their enthusiasm and determination into 'green' ideas that make a positive impact on the local communities.

I look forward to reporting more about the GuateVerde Business Plan Competition and other aspects of life in Guatemala as the summer progresses. Until next time. ¡Hasta Pronto!

Wow.

This has been an event filled couple of weeks! The second years are officially in session and have settled into the classes that they will be working on for the next (and second to last) semester of the MBA program. Personally, it took a great deal of effort and thought for me to make final course decisions, as the end of the tunnel is certainly in sight and there is quite a bit of pressure to make every class count! This semester I am taking Entrepreneurial Finance, Marketing Intelligence and Social Entrepreneurship in Emerging Markets in the Business School and a VC/PE Law class. My schedule represents some opportunities to step out of my 'comfort zone' (i.e. efinance) as well as some very exciting opportunities to 'round out' my experience at Leeds.

Along with the start of classes has been the resurgence of the packed social calendar! Each student club has presented the student body with a number of very exciting events to expect for the year. This week we will be announcing the re-launch of the Ladies MBA Golf Club in partnership with NAWMBA (National Association of Women MBA's). As well, Kim West and I, along with a few other classmates, will be launching the Leeds MBA Food & Wine Club which will provide some unique occasions to socialize among 1^st years, 2^nd years, faculty and alumni, while offering opportunities to engage those with significant others outside of the program. I am so excited to introduce our MBA's to the incredible Food & Wine culture that Boulder has to offer!

This post will not go into detail about the current state of our football team ... however, I will be there on Saturday, cheering our Buffs against Wyoming and hoping that those throwback jerseys serve us well! Let's hope for a big 'W' this weekend!

Welcome back everyone!

1. Take a Hike! Less than 10 minutes from the center of town are number of beautiful hiking trails that can accommodate various skill-levels. Hike the beautiful Flatirons or follow Mapleton Ave. west to Mt. Sanitas trail. To get equipped, visit Boulder Running Company for a personalized shoe-fit experience.

2. Scope out the Local Coffee Scene. Boulder has a coffee culture that is rarely found outside of Seattle and if you're embarking on an MBA program, you'll want to have a few coffee shops to call home! Some of my favorites include Pekoe Sip House and The Cup. Also, be sure to check out the Laughing Goat, which offers ample seating for a long work session, an eclectic Boulder crowd and amazing live music (Dechen Hawk is a must see)!

3. Get your CU Buffs Football Tickets! The season opens on September 6^th with the CU v.  CSU game returning to Boulder! As the game returns to Boulder, students can attend with the purchase of their season tickets!! Visit the CU ticket office for season and single game tickets. GO BUFFS!!

4. Get Geared Up! While shopping for books and school supplies at the CU book store, be sure to pick up some Buff Gear! Checklist: Football Jersey (ladies can shop the kids section for these), comfy hoodie, and a great CU tee.

5. Determine your Workout Regimen. Remember those freshmen fifteen? Be prepared to experience the same in the first year of the MBA program if you're not prepared! Along with an intense school schedule that allows for little 'down time' and fun fall events (think tailgates pertaining to #4 above) will likely come a few extra pounds! Become familiar with the CU Rec Center, as well as local gyms and group fitness studios and work to establish a routine. Boulder provides ample outdoor activities and yoga studios like Corepower provide free week memberships for beginners, as well as ongoing student discounts.

6. Check out Concert Venues. See great bands up close and personal at the Fox Theatre on the Hill or at the Boulder Theater on 14th St. For a quintessentially Colorado experience, get tickets to see one of the many amazing groups scheduled to play at Red Rocks Amphitheater, located ~40 min from Boulder.

7. Float the Creek. For those of you who like a little adventure... drive a short way up Canyon Blvd. to Eben G. Fine Park and tube the Boulder Creek! Take advantage of the last hot days of summer and float the former kayaking course!

8. Get a Backup Plan. Cliff Rosell, MBA 2010 helped many students with computer repairs/restorations throughout the last school year. His recommendation is that everyone gets an external hard drive and creates a backup plan for their work. A little advance planning may save a lot of heart ache should something happen to your computer!

Good luck to the incoming MBA class of 2011! I am so looking forward to this school year, meeting the incoming class and enjoying what Boulder has to offer! If you have any additional activities to add to this list, please post them as a comment to this blog!

See you in a couple of weeks!