Scott Albert

Scott Albert, Professor of the Practice of Strategy and Entrepreneurship
Full-Time MBA

 

What courses do you currently teach, and what do you love most about them?

Business Plan Analysis – MBA 846J I have the opportunity to teach nearly 100 first year MBA students each year. Business Plan Analysis is usually their first introduction to entrepreneurship, venture capital and early stage company investing. The course allows me to give students real world exposure on how business decisions are made with regards to investing and working with early stage companies.

 

How do you bring real-world business challenges or trends into the classroom?

I have been in the venture capital industry for over 40 years and have been the CEO of two venture capital backed startups. I started my career with a venture fund in Chicago, then joined a venture fund in Houston Texas. In 1994, I cofounded my own venture capital firm, The Aurora Funds, in the Research Triangle; we invested in seed and early stage companies in the Southeastern United States and became one of the largest venture fund families in the region. For the past several years I have been a Venture Partner at Cofounders Capital, an early stage B2B SaaS oriented venture firm in the Research Triangle. I have also advised dozens of students and student teams from UNC, Duke and NCSU on their company growth.

 

What’s one lesson or insight you hope every MBA student takes with them after your course?

To understand how to invest in, and work with management teams of early stage companies.

 

Can you share a moment or student success story that’s stuck with you?

For Business Plan Analysis, we have a list of a dozen investment criteria for early stage companies that we explore in detail throughout the mod. Several times over the years, we have had alums contact us and tell us that they printed out that list and posted it in their office to help them in their job. They said that we hit all of the key criteria and they used the list to make better investment decisions. Very rewarding.

In what ways do you see our students standing out in the workplace or making an impact?

Students that take Business Plan Analysis have had a good opportunity to get jobs in the venture industry or to get involved in early stage startup companies. They leave Kenan Flagler with a strong background in entrepreneurship – a key skill in today’s business environment.

What excites you most about the future of business education or your field?

Graduates today will need to understand the basics of starting their own company and how to invest in new businesses. This will be one of the few remaining opportunities to generate wealth.

What advice would you give to incoming MBA students?

Try to learn a functional skill that you can take to your next job – a skill such as sales, marketing, accounting, operations. Most employers today do NOT have training programs. These employers will demand that new employees come to the job with skills that will make them almost immediately productive. Secondly, every student should learn how to sell; schools should offer classes on “how to sell.”

Is there anything you’d like to highlight about your research, industry partnerships, or other projects?

I am heavily involved in the regional venture capital community. I work with startups on a daily basis which allows me to keep current on investment strategies, term sheets and industry trends.

What’s something your students might be surprised to learn about you?

I graduated from Duke University. I teach at UNC-CH. And both of my children graduated from North Carolina State. I have them all covered.

Is there a student, colleague, or industry partner you’d like to recognize?

Tim McLoughlin – Tim is a 2016 Kenan-Flagler alum. He is currently the Managing General Partner at Cofounders Capital in the RTP. Tim has a remarkable background – born and raised in the Raleigh area; then an undergraduate degree from Harvard University; then an entrepreneur back in the Triangle where he cofounded Prime Time Hockey Southeast, a hockey training company which he ran for over 6 years; then on to Kenan Flagler for his MBA. When Tim graduated graduated from Kenan Flagler he joined Cofounders Capital and has led the investments in dozens of early stage companies in the region. Tim continues to guest lecture at Kenan Flagler and support the entrepreneurial community state-wide. He is a true treasure.