(See Recent Update from Idaho Youth President’s response below)
Last spring a group of five Executive MBA (EMBA) students partnered with the Idaho Youth Ranch (IYR) for their Capstone Project. Over the course of the three month long project, the EMBA team came up with a new business model that could maximize the Youth Ranch’s bottom line. The team’s innovative concept was a new e-commerce business. On September 8th the IYR commenced the first stage of their new business plan with the rollout of their e-books business. To date (October 2008) they have sold 2,700 books for a gross revenues of $25,000. For the first full year, they expect income of over $100,000. They are also currently looking at the EMBA team’s recommendation to expand the E-Commerce business to other donated collectables.
Excerpts from Ron Sargent’s (IYR Chairman of the Board) letter to Dean Pat Shannon:
“…I would like to thank Jake, Lisa, Kris, Adam, Ben and (Pat Shannon) for working with us in initiating the e-commerce business. We had asked for ideas that could maximize the Youth Ranch’s bottom line and that is exactly what is happening.”
“…It has been exciting to see concepts generated by the EMBAs become a reality and to exceed the Ranch’s objectives. As you know the income from this business will help us serve more at-risk kids.”
“Working with the Boise State Executive MBA program has been a satisfying and rewarding experience. On behalf of everyone at the Idaho Youth Ranch our sincere thanks and appreciation to you and the team with whom we were so fortunate to work.”
Members of this team include:
Project Advisor
Patrick Shannon – Dean, College of Business and Economics
EMBA Students
Lisa Grow (Boise, ID) – Idaho Power; Vice President, Delivery, Engineering &Operations
Kris Mitchell (Portland, OR) – Shiftwise; Vice President, Operations
Jake Niederer (Andover, KS) – Koch Industries Inc.; Agribusiness Production Planner
Adam Pishl (Gilbert, AZ) – SolFocus Glass Works; Operations Manager
Ben Slaughter, III (Boise, ID) – Idaho Mutual Trust; General Counsel
1/15/09
Just an update on the Idaho Youth Ranch’s e-books businesss. Since our roll-out on Sept. 8, 2008 we have sold 14,000 books and booked $129,000 in gross revenues. We have customers in every state and many other countries.
The EMBA team provided the brain power and encouragement we needed to move forward with this endeavor. Our great donors provide the books. Kids and families who need a helping hand are benefiting from the results.
Thanks to all.
Steve Woodworth
IYR President & CEO
By: Steve Woodworth on January 15, 2009
at 11:59 am