Alumni mentors prepare students for competition

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Judges and mentors share last-minute words of advice with student participants ahead of the 2024 competition.

SUMMARY: Former Business Plan Competition participants return to mentor and guide the final five teams.


In the 20-plus years since its inception, the Business Plan Competition has grown exponentially, serving as the culmination of the College of Business’s benchmark course, COB 300. All CoB students are required to take the 12-credit-hour core course which integrates finance, management, marketing and operations. Now called the Rainy-Shepard-Kushel Business Plan Competition in acknowledgement of the financial contributions of Don Rainey (‘82), Russell “Rusty” Shepard (‘86) and Rick Kushel (‘87), students will vie for over $50,000 in scholarships. 

More than 100 business plans are submitted each year for consideration. After multiple rounds of review, the top five advance to the final round of the competition. There, judges weigh the quality of each team’s preparation and presentation, as well as the originality and potential profitability of the idea submitted.

Students have plenty of support along the way, with each team assigned a competition alumni mentor. These mentors are seasoned veterans who have successfully navigated the challenges and triumphs of past competitions. With their wealth of experience and expertise, the guidance they provide to current participants is invaluable.

Get to know this year’s competition alumni mentors!

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Ian Stako ('24)

Stako graduated with a degree in Business Management with a concentration in entrepreneurship. Since graduation Stako has traveled extensively while living in four different states, stacking experiences and trying to “figure out my place in the world,” he said. 

What was the biggest challenge your team faced, and how did you handle it?

Headshot of Ian StakoThe biggest challenge my team faced was related to our finances. We had some difficulties managing who was taking care of our finances, but one team member ended up pulling through big time for our team and redoing every inch of the finances section of the plan. 

What’s one piece of advice you give to your mentees that you wish someone had told you?

The advice I have given my mentees is to put on a show. The judges like a good show and that can and will be a large factor playing into who gets first and who gets second. Otherwise, this is their time to shine, show what they’re made of, strive for perfection and, above all, learn and grow from this incredible experience.

Sierra Puleo

Puleo is currently pursuing her last semester of undergrad as an Accounting major and simultaneously pursuing her first semester in JMU’s M.S. in Accounting program.

Can you share a memorable moment from your time in the competition — whether it was a challenge you overcame or a success you celebrated?

Headshot of Sierra PuleoAfter the judges came back from their deliberations, Justin Quaglia was in charge of announcing the results of the competition. He said, "And I must say, this was the first business that I've seen in probably 10 years of doing this that I would invest in today. C-ERA." In the moment, winning the competition was extremely exciting and rewarding, but I also attribute to that moment the entirely new perspective I gained on so many things in life. Not only was I part of a team that came up with a great idea, I also met a group of lifelong friends, learned a lot about business and working in a team, and found that hard work can be extremely rewarding. I often look back on that moment and remind myself of the importance of keeping an open mind to new opportunities. We came in with an open mind and gave it everything we had on that day. Having the opportunity to stand in a room full of experienced judges, dedicated faculty, incredible peers and the support of my family is something I will always cherish. 

How does it feel to be on the other side, guiding this year's competitors through the same experience you once had?

I'm extremely grateful for the opportunity to be an alumni mentor for this year's competition. My team's mentor, Manahil Malik, shared with us some great advice regarding her experience in the competition. I think it is incredibly valuable to be able to learn from someone who has stood in your shoes and I'm hoping to be able to provide the same opportunity for the team I'm mentoring this year. 

Kenya Balser ('23)

Balser was a Marketing major with a concentration in Sales and a Honors Interdisciplinary minor. She currently works at Edward Jones as a financial advisor. 

Looking back, what do you wish you had known when you were competing?

I wish I had known just how much fun the competition would end up being! I was incredibly nervous thatday—I could barely think straight. But by the end of it, I was having the best time, especially when it came to spending time and connecting with the other teams, and Headshot of Kenya Balserlearning from the judges and the sponsors of the competition. It ended up going by so fast, and to this day I wish I could go back and relive it. I think I put too much pressure on myself, imagining it as a high-stakes competition, when in reality, it was a supportive and encouraging environment where we got to showcase our hard work and feel proud of what we had accomplished. If I could go back, I’d remind myself to savor the moment and enjoy the experience.

What inspired you to return as a mentor for this competition?
I knew as soon as the competition ended that I wanted to come back and give back in any way I could. From my first interaction with the judges, I was so inspired by their careers and the fact that they take the time every year to support JMU students. My goal is to step into that role one day to help keep the competition going. I also remember how stressful it was to juggle the competition with a full course load, so I wanted to be the kind of mentor who reminds students to take a breath, trust themselves and enjoy the process. It’s not just about winning, it’s about learning and growing from the experience and making the connections! It's an opportunity like no other.

Manahil Malik ('15)

Malik majored in Computer Information Systems and works at Deloitte Consulting as a senior user-experience designer, conducting user research to understand customer challenges and design intuitive digital products. Her current focus is on designing generative AI products.

How did participating in the competition shape your career or personal growth?

Participating in the competition helped shape my personal growth through big-picture strategic thinkingHeadshot of Manahil Malik and storytelling. It taught me to think more entrepreneurially, which has been beneficial to my career because I’m always pitching new ideas and trying to get buy-in from various stakeholders. 

How have you seen the competition change since you participated?

Teams now have an assigned alumni mentor who can provide feedback and support as needed. This provides students with perspective and the ability to make a lasting connection—which is great because making connections is everything in the “real world.” I also noticed that the judges provide a lot more context and helpful advice in the pre-meeting about what matters in an investor pitch. These lessons are extremely valuable to carry forward. The competition experience continues to get better, and students seem to get more out of it with each passing year.

Sheila Hinnegan ('24)

Hinnegan graduated with a degree in Marketing with an Entrepreneurship minor and is currently working as a Sales Development Representative at memoryBlue. 

What was the most valuable lesson you learned from competing in the Business Plan Competition as a student?

Headshot of Sheila HinneganRealizing just how capable I am of achieving things that once seemed beyond my reach has been one of the most valuable lessons learned. During my freshman and sophomore years, the idea of competing in the competition felt like an unattainable aspiration, but my participation taught me that success is accessible to anyone, and that I shouldn’t limit myself by assuming something is unattainable. Not only did my team and I make it to the competition, but I was also honored to receive an MVP award, which further reinforced my belief in the power of persistence and self-confidence.

What do you hope your mentees take away from this experience?

I hope my mentees fully embrace the networking opportunities available through the competition and make it a point to connect with as many people as possible. Additionally, I want them to recognize that the skills they're developing in the College of Business are not just theoretical—they can be applied to real-world situations. Their ideas don’t have to stay confined to the classroom and have the potential to make an impact in the world beyond.

by Jess Nickels ('21)

Published: Thursday, March 20, 2025

Last Updated: Thursday, March 20, 2025

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