Bearden’s two virtual enterprise firms, Well-Bee-Ing and Nutrigum, competed at the 2024 Youth Business Summit in April, marking their second consecutive time that they attended and placed at the conference.
Both firms competed in the National Business Plan Competition, in which firms presented an overview of the company they created and had been working on all year. Well-Bee-Ing placed within the top 40 firms in the competition and Nutrigum advanced to the finals, eventually placing sixth in the nation.
Additionally, Nutrigum – led by CEO Henry Mead – competed in Marketing and Human Resources and Well-Bee-Ing – with Will Mead as CEO – competed in Finance. Both Bearden firms also placed in the silver tier in the trade show.
Will Mead found that the differences of the firms allowed them to succeed in their own individual ways.
“Nutrigum was able to showcase their innovative marketing strategies and product development, while Well-Bee-Ing’s cohesive presentation skills allowed them to do well,” he said.
This year was the first year that Bearden has had two Virtual Enterprise firms. This allowed smaller groups of students to craft their business plan and work separately to succeed in their respective firms.
However, they still had some obstacles to overcome, and the two CEOs were pleased with how they handled those new challenges.
“Smaller class sizes and competitions being earlier in the year definitely added challenges to our already difficult position,” Will Mead said. “We both had a lot of people step up to the challenge and make it possible for both firms to do well in competition.”
Aside from succeeding in the competition, traveling to New York allowed students to have fun and bond with each other. The group saw Broadway shows, went to The Today Show, and explored different neighborhoods.
“Traveling is a major aspect of Virtual Enterprise, and going to New York really allows people to understand the program on another level,” Will Mead said. “Spending each day together, both competing and exploring the city, creates a special bond that’s hard to recreate in a normal class environment.”
After another successful year, the hiring process for next year’s firms and CEOs has started. The outlook for the next year is that there will be two firms again and they are both hoping to advance to New York for the fourth year in a row.