Recently in Internships Category

This summer I was part of a student-run consulting group called Entrepreneurial Solutions, or ES for short. Over the summer, we worked on business and strategic plan development, business performance improvement, market research, financial modeling and competitor analysis.

We worked with several different clients that ranged from established companies to single entrepreneurs. I really enjoyed moving from project to project; ES is like having several internships in one. 

Before any checks came in the door, there was a lot of upfront business development to scope projects and win deals. I did a lot of front-end work before the clients were even committed to the project. After we won deals, we then worked against the scope and timetable to keep the project on track. We also frequently met with the client for periodic updates. This system worked out great, but it's important to know that getting paid generally comes toward the end of the project. But if you can float your living expenses a little bit, then the ES model works great.

Below are overviews of the projects I worked on.

Electronic Waste Management

This job was for a group of individuals who were looking into starting a business to help companies manage old IT assets. The project was to conduct phone interviews with about 40 small and medium sized businesses in an effort to understand how companies buy, manage, and dispose of electronic waste. We had some unexpected findings that helped the client refine their business model.

Focus Group

We worked with an aspiring entrepreneur to help him get external feedback on 15 of his new product ideas. The client is a retired software engineer and now has the time and energy to pursue one of his new product ideas. Generally, the product concepts solve every-day problems that all people experience; the difficulty is that the client loves all ideas equally. To help the client prioritize his ideas, we organized an interdisciplinary focus group to analyze each concept independently. Ultimately, we were able to help the client focus his efforts on the top few product ideas.

Denver Energy Company

This project was for an established energy company in Denver- the engagement ended up being three jobs in one. First, we interviewed top management on current state of business, how their partnering strategy should develop, and which region their sales and marketing efforts should target. From the interviews, we discovered that the best path forward was to get their product installed at a customer location. We developed a go-to-market strategy that included a market assessment, quoting template, engagement process flow chart, and a slick 90-day free trial promotion. Lastly, we helped the client understand how to position the product by interviewing potential customers to understand their pain points.

Medical Device Research

This existing company is moving into a new market by introducing a new product. They hired us to conduct primary market research to find out what features are most important to this new customer group. We also researched publicly available data on the industry to understand the competitive environment. This information will be used to position the new product against competition and highlight how product attributes align with the needs of target customers.

Overall, I had an excellent experience with ES over the summer. It was fantastic to work on so many unique projects with different clients, and I also had the free time and flexibility that I was hoping for. I would certainly recommend ES to anyone for a summer internship.

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!

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!

So while fellow classmate Eric Lundeen is jetting around the country on private jets reviewing the impact of an acquisition on a company's credit rating my summer's been routed in something a little simpler, beer.  That's right, cold refreshing beer.  I've spent the summer interning for MillerCoors in Golden, CO.  The first thing people ask about...well okay the second right behind, "Do you get free beer?" (More on that question later) is "Wait, I thought Miller and Coors were competitors?"  Well in July of 2007, Molson Coors and SABMiller joined forces by launching a joint venture of their US businesses with the stated goal of becoming America's best beer company.  By combining forces MillerCoors has been able to generate significant synergies that are helping them compete against market share leader Anheuser-Busch InBev.

During the summer I've worked in the Procurement Organization.  Procurement is currently tasked with helping the joint venture leverage the spend of the two legacy companies and drive savings that can be reinvested into the business.  At the start of the summer, I was given several projects to complete that have challenged my thought process and exposed me to the beer business.  One project encouraged me to come up with "Five Big Ideas" requiring me to think broadly, interact with individuals all over the organization, and review thousands of lines of data in excel.  I feel that these self directed projects have allowed me stretch my thinking while using some of the skills I learned during the first year at Leeds (including a Cash Conversion Cycle Analysis).  As the summer winds to a close I feel like I've had the opportunity to contribute to the organization and make a difference.

So in addition to learning about procurement I've also gotten to experience all sorts of parts of the business.  People may not realize, but one of the reasons why Coors Light is better than the competition is because of the care and attention given to the ingredients.  In June, I got to learn firsthand about the first step in the brewing process when I attended Barley Days.  Barley is malted eventually becoming the base of beer, what the yeast feeds on during fermentation.  Coors brands are unique in that MillerCoors works closely with farmers to raise the barley and then manages a network of Grain Elevators across four states were barley is purchased and stored before it is used in production.  Barley Days was an amazing experience were I meet Pete Coors, toured a Grain Elevator, and talked to the farmers responsible for helping to make great beer.  Additional events this summer included detailed tours of the Golden Brewery - the largest single site brewery in the US, interaction with the leaders of the company, and experiences at retail seeing the three tier distribution system that gets our beer into the hands of adult consumers first hand.  In a few weeks the summer may be gone, but my appreciation for the beer business will continue.

Oh yea.... and yes, I get several free cases of beer a month!

Eric Lundeen, University of Colorado at Boulder, MBA '10, provided the following synopsis of his summer internship. Read though to hear about his trip with Ball Corp execs on a PJ!

Ah... so a summary of what I am doing this summer...

I am the treasury intern for Ball Corporation, which is a large (7.6 billion dollar revenue) Broomfield, CO based public company that produces, metal beverage and food containers, aerosol containers, plastic containers, avionics and space systems (satellites).

I am working for the Corporate Treasurer and Senior Director of treasury. The main areas that I am gaining exposure to are: hedging against the company's foreign currency exchange rate risk, interest rate risk (for payments on their corporate bonds), commodity price hedging (locking in aluminum prices at the right time) and dealing with the asset allocation of the companies $600M pension investment fund.

I have been stretched in this role as I have very little background and experience in the financial markets (such as portfolio allocation, derivatives investing, commodities futures, etc), but rather in accounting and internal corporate planning and analysis. I have been asked to figure out how to update their approach to asset allocation model given the recent increased swings in the equity markets. I am researching Post Modern Portfolio Theory and I think this may be an approach that solves the issue they want to address. Of course, to understand "post modern" I am learning "modern" first.

Last week, Ball Corp was finalizing the deal to make a ~$600 million acquisition. As part of this transaction they are going to issue bonds. They wanted to make sure the acquisition news didn't result in a downgrade of the firms credit rating prior to the bond issue (otherwise they'd have to pay a higher interest rate on the bonds) so the company sent the CFO, treasurer and senior director of treasury to NY city to meet with Moody's and S&P credit rating agencies. Since I had done some pre work on the bond they invited me to join them on the trip. The best part was that they took the company's jet and I got to spend three hours each way with some of the top execs of the company. We flew out of the airport in Broomfield in the morning, had meetings during the day in the city, grabbed a beer a block from the world trade center and then flew out in time for a late dinner back home in boulder.

It was very surreal, the private jet was fun, but the exposure to the execs and sitting in on these high level meetings was amazing!