The Family Business Case Competition, Burlington Vermont

 

It snowed and snowed!

Assembling our team in Vermont had been a challenge (Getting to Vermont).  The weather and flight delays meant our team weren’t able to get together to do their final preparations until less than 24 hours before their first presentation.

When I landed in LA, I found our WhatsApp phone group for our team had been in overdrive. One of our team members hadn’t even left Adelaide and found his flight was cancelled. He discovered it by accident and had to hurriedly rebook.

Church Street Burlington

Then, around lunchtime on my first full day in Burlington, WhatsApp lit up again as another team member got caught in the bedlam that is the San Francisco customs hall and missed her connection. The impact was a delay of more than 24 hours and a very rattled team member. Not an ideal start.

Fortunately, being in the US meant I could chat with her as she worked through options to get to Burlington.

Eventually, and much later than planned, she, our last team member, arrived. I met her at the hotel reception, or the card table, as we affectionately referred to it (The hotel was being renovated, and reception was crammed in next to a lift, pretty much on a card table) and helped her settle. By that time, it was less than 24 hours until the delivery of our first case presentation in the competition. It was far from ideal preparation; however, with the team all in the same room, they could at least put the finishing touches on their first presentation. Unlike subsequent cases, they”d had a week to prepare so. Subsequent presentations were given to the team just 4 hours before they were to present.

At Vermont University

So, about the case competition. The competition pits teams from around the world against each other as they look to solve a family business problem, issue, or dilemma. There are three preliminary rounds.  As mentioned above, they have 7 days to prepare the first case, but for the next 2 and the final, if they make it, just 4 hours. Coaches aren’t allowed to assist in the preparation phase, only in the post-presentation phase.

It’s the only competition of its type, so it’s kind of a world championship! That said, while it is serious competition, it offers both formal and informal interaction between teams, family business owners, advisors, and academics.

Teams and their coaches are required to wear business, which means a suit and business shoes. I highlight the latter as mine were not ideal for snow, given they had leather soles. My usual winter business socks didn’t cut it. I needed warmer socks suitable to wear with a suit and dress shoes. The Merino wool socks I bought for casual wear were now getting a real workout as my goto socks!

With the team assembled, we attended an informal reception. Our team, having travelled from Adelaide in Australia, was celebrated as having the longest distance to travel. The length of travel and the challenges it brought were something we could attest to. The Thai team and Indian teams, although not travelling as far as us, also ertainly had a distance to cover. That said, while it had taken us a long time to get there, as the competition commenced, the team from Vermont had only just made it in time, and the Californian team were still in transit. The Californian team were caught in the travel chaos we’d experienced, and the team from Vermont was caught up in road closures due to the weather. 

The informal reception was a chance to meet the competition organisers and our ambassador. Each team has an ambassador, a student at Vermont University, to assist each team. Our ambassador was a vital resource as we navigated competition logistics, dietary challenges and pretty much everything else. She was a real hero!

As with all events, the reception was early. They were also largely “dry events”, as the legal drinking age is 21 in Vermont, and many competitors were underage.  Given the early start for the event, we had time for a quick meal at a nearby gastro pub – The Farm House Tap and Grill. We rugged up and headed off for the short walk. My, it was cold. It was a chance to discuss competition logistics as well as to sample a local red. It was light and fruity. It was not really to my taste, but it was an opportunity to try some of the local produce.

The next morning involved a coach’s briefing and information about the competition, as well as the all-important draw, which determined which division we were in and when we would present. We were in a division with teams from the USA, Guatemala,  and Canada.

Our presentation went well. We were last to present on the day, meaning I had a chance to watch all of the other teams in our division before it was our turn. The Guatemalan team were outstanding and were clearly going to be our main competition.

The evening of the first day’s competition was “Wear Your University” night and an opportunity to introduce ourselves. A team member suggested that we play on the dangerous animals Australia has. It seemed sensible as we’d been asked about spiders, snakes and sharks by everyone. I introduced the team, including our ambassador, with the Question have you been bitten by a snake, the next team member … a redback spider, … a shark,… an emu, etc. It went down well and was the talk of the room the next morning at breakfast.

Across the competition we had two second places and third. Each time, the Guatemalan team won, leaving us in a tussle with the US team for a possible wildcard in the final.

We presented early on Day 2. It provided an opportunity for us to watch a couple of other teams’ presentations before having an afternoon off. I took the opportunity to wander into town and visited the outdoor shop to buy some more warm socks. As I mentioned above, I had Marino wool socks, but with limited scope for laundry, given the hotel was being renovated, I needed some more. Alpaca socks were on sale, so I bought some.

Armed with new socks, I visited the chocolate shop and then the whisky bar. The question was how the chocolate would rate against our local gold standard, Haighs. It went pretty close.

Church Street, Burlington

 

Mad River’s Tasting Room, Burlington, Vermont

The whiskey bar, located near Church Street, was  Mad River’s tasting room. It’s adjacent to a number of cocktail bars. It was fun. I arrived late afternoon and was given a tasting flight of a selection of Mad River Bourbon Whiskies, accompanied by a knowledgeable barman who explained each of the bourbons, including their distilling process. I’d love to have bought some bourbon to take home, but the customs process makes it all a bit hard. I decided on a Mad River cap as a memento. It’s a good spot with lots of cocktail accessories and a nice spot for a late-afternoon cocktail if that’s your fancy.

The reception on the night of our second presentation was in a local interactive museum. The aquarium was the highlight of the museum. Our dinner was short as we dealt with the shock of finishing third when we felt we’d nailed it and were likely winners. We were crestfallen. Quickly doing the numbers, we could see that a wildcard was our only chance of making the final.

We had an early night, and the morning brought a very sombre mood amongst the team. The team was determined and nailed their presentation; however, we were fairly certain it wouldn’t be enough. We pretty much planned a sightseeing day for the Saturday before watching the final.

As the final places were read out, we watched on unexpectedly. Then the final wildcard was announced – we were in! To say our moods changed would be an understatement. Our plans went out the window. Instead of a big dinner and a night out, it was another early dinner at a very pleasant Italian restaurant and back to the hotel to prepare. I analysed the formal comments we’d received and provided that to the team. The team had also received comments from judges along the way, which they carefully considered as they rethought how to approach the final.

We were drawn last for the final, which, given the challenges around travel, was a bonus. It gave the team an opportunity to sleep in. I had breakfast with our team leader at a delightful nearby coffee shop,  August 1st, where I had the best coffee of the week and granola. I’d been hanging out for both. We chatted about approach based on the feedback we’d received along with observations of other teams and our strengths and weaknesses.

We met the team for the bus ride to Vermont University. The timing of the presentations meant that as soon as we arrived, the case was provided to the team, and the first presentations began. There were 5 before ours.

The standard was high. Our team performed well, but it wouldn’t be until the awards dinner that we’d find out the results. We didn’t win but we had made the final which was our goal.

Across the week, we met some fabulous people from many countries. Both the team and I learned a lot and were satisfied with our overall result. I felt fired up for how we could do better in the future.

With that, the competition was over, and I went back to my room to pack and prepare for the trip home. It was an awesome experience and one I hope I have the opportunity to repeat. It was a true highlight of my academic journey. I’m looking forward to teaching the course again this year and finally completing the journal article that flows from my PhD research.

I should also say, for an Adelaide boy where it never snows, the snow was also pretty amazing!

Me in the snow at Vermont University

 

 

 

 

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