Launch - Winter 2007 - (Page 19)

Each year, hundreds of college students aspiring to be the next big entrepreneur in Utah, vie for first place in various state-wide business competitions. Participants may have an edge over other Utah startups. They benefit from the feedback, funding and networking that helps improve their business ideas. But what happens to these competitors after the initial glory fades and the prize money runs out? Find out how previous competitors have leapt forward with their business plans and ideas. Property Solutions www.propertysolutions.com Since the company was established in 2003, Property Solutions has become a nationwide business with customers in all 50 states. Initially, the original five members of the company worked hard to develop CEO David Bateman’s idea into a winning company for the Brigham Young University Business Plan Competition (BPC). The company helps property managers to collect and manage rent payments online, as well as manage maintenance requests, fill vacant apartments, and maintain customized Web sites about a customer’s property for prospective residents to view. “We spent four months, day and night, preparing for the competition,” Bateman says. They began developing software for their company so they could present the judges with a substantial product and real clients. They also established a development team, did extensive market research, and took a business plan writing class in the Marriott School at BYU before the competition. Their hard work paid off when they won first place and the $25,000 grand prize. Property Solutions then went on to win the 2003 Fortune Small Business magazine business plan competition, a competition that was supposed to be limited to MBAs. However, since they beat out the MBAs at BYU, they were allowed to compete. WARD n Ideas Into Reality By Esther Yu Sumner launch winter 19 http://www.propertysolutions.com

Table of Contents Feed for the Digital Edition of Launch - Winter 2007

Launch - Winter 2007 Contents Editor's Note Dashboard Mentor Column Funding Column Diary Column Sales Column Feature: Moving Forward: College Business Competitions Turn Ideas Into Reality Cover Story: Are Awards Worth the Effort? Company and CEO Awards: Contributing to the Bottom Line or Just Feeding Egos? Entrepreneur Spotlight: Benoy Tamang - Hooksell Entrepreneur Spotlight: Clayton Jenkins - Premium Steam

Launch - Winter 2007

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