Every Aspiring Entrepreneur Should Compete In A Case Competition

If you want to go into entrepreneurship, you have to first learn as much as you can about the business world. A business case competition is a hands-on way to learn more about business at almost no cost to you. 

First off, if you don’t know what a case competition is, here’s a quick rundown on it. In a business case competition, individuals or teams are given a case, and they are given a specific amount of time to come up with the best possible solution. Then, the participants have to present their solution, and this part is almost more important than the solution itself. This allows you to apply the knowledge you’ve learned from the classroom and is a test of your business skills. There are no right answers, and each participant could have incredibly distinct solutions. The exact logistics vary from competition to competition. Many are hosted at universities through their business schools or incubator programs. Think of it as a hackathon for coders, but for business.

Now that you know what a case competition is, here are a few reasons why every aspiring entrepreneur should compete in one.

Case Competitions adds marketable skills to your resume and shows measurable results.

The experiences you gain from such a competition are invaluable. If you’re someone with not a lot of relevant job experiences in the field that you want, showing that you’re seeking opportunities to gain experience can make you stand out. Case competitions take time, so spending those couple of weeks to prepare can demonstrate your dedication and willingness to learn. 

Very few people will give you a chance if you have nothing to prove your capabilities. Whether that’s pitching to investors to give you money or interviewing for any job, some things that are looked for include skills and measurable results as an outcome of those skills in use. With a case competition in your back pocket, this offers you a way to show concrete evidence that you know what you’re doing and can bring those skills to the table. One of the top interview questions is “Can you tell me about a time where you…?” and it’s difficult to answer this question. A time you participated in a case competition is a great scenario to answer these types of questions. 

Some competitions have amazing opportunities for top finishers. 

Companies will utilize case competitions to seek out top-performing students that would do well in their company. Sometimes the prize will be an opportunity to intern at their firm or be invited to summits or fast track you to a specific program they may offer. This allows you to get ahead as these types of opportunities are usually best in class. There are many case competitions hosted by companies from the Big 4 accounting firms and Fortune 500 companies, as well as university-sponsored ones. Some global organizations even have ones with regional, national, and international stages, giving more opportunities to learn. I’ve been able to land interviews with companies that sponsored case competitions, which I probably would not have even considered if I hadn’t competed in the case competition. Other case competitions will offer a cash prize for the top 3 teams. I mean, that’s not a bad way to gain experience and earn some money at the same time.

This may be a chance to explore something that you may not have known you have an interest in before. 

Simply because a case competition does not directly align with your interests doesn’t mean you should write it off completely. As a business major, I’ve competed in competitions that were STEM focused. The advantages I saw from this was I could bring a unique take on the solution. I could easily learn the science that I needed, and apply the business skills I have to market my solution better than other teams. This allowed me to approach it from a business point of view. There have been times where it felt like I knew absolutely nothing about the case, but you’re not supposed to already know everything. At its core, a case competition is simply problem-solving, and that’s all business and entrepreneurship is. 

They allow you to connect with people.

The number one thing any businessperson will tell you is networking is the most important thing there is. It doesn’t matter how great the product or service you’re offering, it won’t go anywhere without people buying it. All different types of people participate in case competitions and they are a great place to meet new people and learn from others. These friendships and networks are incredibly useful and valuable in the future. 

There are so many benefits of competing in a case competition, at least once for anyone wanting to be an entrepreneur. You can gain experience and skills, be offered opportunities that you otherwise might not have, learn something new, and network!