Collegiate Entrepreneurs

One of the programs we are very proud of here at Belmont University is our student created, student run retail businesses. Three different groups of students were chosen from at least a couple of dozen proposals to occupy three prime retail spaces on the edge of our campus, Each space is at least 1000 square feet, and the University along with local foundations helped to provide funding to make each store possible. Becky Gann, Program Coordinator for our Center for Entrepreneurship, oversees these and all of our other co-curricular programs.
The Tennessean ran a story this past Sunday marking the opening of the third business in the space. It is called Feedback Clothing. Unlike our other two stores, which are “owned” and operated by student organizations, this business was developed by an independent group of students.
feedback opening.jpg
These students have already had some of the lessons we hope to offer them through participation in our programs.
“One of her partners in Feedback Clothing Co. had just quit to take a better job, downsizing the management team — and staff, for that matter — from three people to two. The computer and cash register weren’t going to be ready for Friday’s opening, necessitating some ‘old-fashioned’ money collecting. Alexander’s grandparents and 9-year-old brother were happily helping hang T-shirts and put together furniture.
“‘We’re making it work,’ she said. ‘It all comes together eventually.'”
We also offer students who have started their own businesses access to our Student Business Hatchery. It offers students access to space and equipment, such as a copier, fax, computers, etc.
We also bring these student entrepreneurs together weekly, along with those running the retail spaces, to serve as a peer advisory group. There are over two dozen students in our Hatchery and Practicing Student Entrepreneurs programs, and the number is growing every month.
We are expanding these programs through support we are getting from the Coleman Foundation. Our goal is to support students from any major across campus who have entrepreneurial aspirations and ambitions.
Students today are so very different than even those I saw when I got back into teaching seven years ago. They understand America is now in an entrepreneurial economic growth period not seen in decades. They embrace opportunity with enthusiasm and confidence.
What a gift it is for me to be able to help them realize their dreams!

Wherever You Go?

Entrepreneur.com recently offered a guide to the myriad of technology that can link you and your employees to your business twenty four hours a day, seven days a week, and around the globe.
“From home offices to hotel rooms, technology is the wind beneath your business wings, the premium gasoline in your work tank, the foundation of your building-you get the idea. Slews of laptops, wireless solutions, remote software and cell phones await your use.”
True. But, technology can also become the chains and shackles that make many entrepreneurs feel like slaves to their businesses. The very freedom that such technology can create also leads to resentment, burn-out, and fatigue in many entrepreneurs. For many, the only escape is when the flight attendant closes the airplane door for take-off. Alas, even that escape may soon be taken away if cell phones are allowed for use on commercial flights.
I would like to offer some possible “connection free” zones that entrepreneurs can create to restore a little sanity to this high-speed world:
-Church
-Your daughter’s dance recital
-The bathroom
-The golf course
-Your son’s choir concert
-Dinner our with your wife
-Family reunions
-Movie theaters
-The tennis court
-The dentist’s office
-Family vacations
-Walking the dog
-Public rest rooms
-College campus visits with your teenagers
-Family dinner
Connectivity is an amazing tool that can allow businesses to grow more effectively. You can keep better communication and coordination with branch offices, traveling staff, customers and suppliers.
But, give yourself some time for family, for rest, and for leisure. Disconnect from the connected world. You, and your business, will be healthier.

A Really High Risk Business

Red Herring reports on what is truly one of the highest of all high risk ventures.
“The mobile market might be a cut-throat business, but try running a cellular company while insurgents bomb base stations and industry officials are murdered on route to work.
“That’s the world of Iraqi wireless carrier AsiaCell, which has managed to convince 442,000 subscribers to sign up for service in northern Iraq.”
Now that is what I call the entrepreneurial spirit!

Managing Uncertainty

“You never know what…the gods will throw your way. A war? A recession? Technology evolving and obsolescing before your eyes? Excessive growth? There’s no end to the obstacles your business may encounter.” This sobering set of scenarios is posed in a recent article from StartupJournal passed along to me by Mary Beth Groce.
Their recommendations are good advice for any growing business. A clear strategy, flexibility, realism, ethics and a strong network are some of the qualities that they found in companies that weathered such challenges.

What’s New in Entrepreneurship Education

There were three entrepreneurship programs honored this year for their contributions to advancing entrepreneurship education at the 2005 conference of the United States Association of Small Business and Entrepreneurship (USASBE).
The Syracuse University was honored for their advances in integrating entrepreneurship education at the undergraduate level. Specifically, their work in integrating entrepreneurship education across their campus was highlighted.
Western Carolina University was honored for their innovative MBA program in entrepreneurship.
Georgia Tech won the award in the “specialty program” category for their technology transfer program (TI:GER) that integrates science PhDs, MBAs and law students on common entrepreneurial projects.