#RIT48 Web Business Startup Competition - Final Pitches & Judging @RIT48 [Ustream VIDEO] #RIT University #ROC

The first ever RIT48 competition kicked off this weekend at RIT University where students from various majors came together and were challenged to do the following:  form a team, plan, design, develop and launch a new web startup in less than 48 hours!  There were 10 teams competing for cash prizes, awards and recognition for their efforts. I was honored to be selected as a Judge and Mentor throughout the weekend of March 19-20, 2010 for the first ever RIT48 event.  The teams all did a fantastic job of preparing Business Plans and Demoing their websites.  This was quite a treat for  me as I love to mentor and provide assistance to young startups.

"RIT48 aims to bring together RIT students from various disciplines to pitch, plan, develop and launch a startup in one weekend — or, as the name suggests, 48 hours."   - RIT48

I will be uploading more event pictures later, but in the meanwhile I thought I'd provide a link to the Ustream live feed Video that was taped during our final judging of the RIT48 competition.

See next page for video...

At the Judges' table (seated left to right):  Aaron Newman, Liz Lawley, Susan Beebe, Lee Drake and Jon Schull.

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What Every Entrepreneur Needs to Know /by @PMVoices

What Every Entrepreneur Needs to Know My CEO always told me that to be a good project manager, you must be an entrepreneur.

I took that seriously and started my own part-time business.

And I discovered that to be a good entrepreneur requires a lot of project management experience.

For instance, project management skills help me efficiently manage and track my resources. I don't spend more than one or two hours a day on my business, but I have clear visibility about the inventory, orders and payments. the salespeople input their data in a custom-made Excel tool and I get a daily summary report.

I also rely on my project management skills for handling vendors and suppliers. They do not over-commit, but rather rely on a well-defined scope of work and regular follow-ups for tracking. As a result, the vendors feel more pressure because if there's a delay, they know I will notice and get in touch with their superiors.

Even a small business requires project management skills and if the entrepreneur is a Project Management Professional (PMP)® he or she will rock the market.

Have you started your own business? Please share your experience.

via What Every Entrepreneur Needs to Know - Voices on Project Management. Follow blogs.PMI.org on twitter @PMVoices