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A Boost for Young Entrepreneurs One of the great things about being an entrepreneur in the 21st century is there's no age barrier. The days when you were pretty much required to slog away in middle management in corporate America for decades before banks considered you mature enough to take out a loan and strike out on your own are so gone. Now, the Internet has made starting up on a shoestring easy, and businesses routinely sprout in college dorm rooms--think Mark Zuckerberg and Facebook.Just in the past few weeks, I've read about Boston University student Alex Hodara, founder of real-estate brokerage Hodara Real Estate, and about business-plan competition winner Omar Soliman of the University of Miami/Coral Gables and his partner Nick Friedman of Pomona College, whose company College Hunks Hauling Junk (don't you love that business name?) has becoming a growing franchise. There's Matt Rhodes in Thousand Oaks, Calif., who founded T.O. Student Tutoring while still in high school. Now, young entrepreneurs who dream about starting their own businesses before they can legally drink are getting a boost. I wrote a couple weeks ago about the Ewing Marion Kauffman Foundation's effort to build a national entrepreneur movement. Well, they have not rested from this task--last week they announced a $75,000 grant to the University of Miami to support The Launch Pad, a career-center program designed to help college students launch new companies while they're still in school. Usually, career centers focus on finding students jobs and entrepreneurship centers focus on helping their smaller group of students learn how to start businesses, and never the twain shall meet. The U-Miami's Toppel Career Center will break ground by integrating entrepreneurship into their career advice and making that knowledge available to all students. The Launch Pad began in September 2008 and has served 750 students and alumni to date, consulting on 300 proposed ventures and seeing 20 new companies launched from their efforts. With the Kauffman's support, The Launch Pad will reach more budding entrepreneurs. If The Launch pad proves successful, maybe other universities will pick up on the model and bring entrepreneurship resources to their whole student bodies.
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| Posted under: Ideas, Small Biz News, Startup
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It’s always inspiring to see young people developing ideas and empowering themselves to become business owners and entrepreneurs – kudos to both the Ewing Marion Kauffman Foundation and Launch Pad for assisting these young people. In Manhattan, companies like Regus are helping entrepreneurs of all ages to secure office space that will allow them to raise their business profile and save money. Regus is happy to offer New York City business people two months of free fully furnished office space. To take advantage of this offer call 1-877-REGUS-01.
Katie Safrey, Affect Strategies
Disclosure - Regus is an Affect Strategies client
I think this article gives great information to drive young business professionals. As we are seeing, some of most successful businesses are being started by young adults. Hopefully, more teaching entrepreneurial techniques can be put in place in universities.
Carol,
You hit the bulls-eye with this post. You are so correct in saying that the days of the age barrier for entry into the world of Entrepreneurship are GONE! Kids are getting more well versed in the world of business and these days, its a MUST! The proof is when you see a book like this popping up (which by the way is a great book, just bought it for my niece) Kidpreneurs! As they say: Tomorrows future starts today! Its aimed at giving the 6-13 year olds a thorough step by step process on Entrepreneurship but written in a way that they will understand and enjoy!
Congrats to all the great Young Entrepreneurs mentioned in this article!
Check out; http://www.Kidpreneurs.org for more info on the Kidpreneurs Book!
Cheers.
-JEN
I started my business from scratch on a shoestring budget, doing tradeshows, and constantly getting the word out. Word of mouth advertising helped us grow tremendously. Go for it, and stay focused on your business goals.
Tracy Wright
http://executees.net
A few friends and I started a business in college and are now currently venture funded. However, I'm not sure we would have gotten to this point, this fast, had we not participated in a business incubator program immediately after graduating. There really were no resources while we attended UCLA.
Anna
SpareFoot.com
Such a great article! It is amazing what an idea, coupled with determination, can become.
I had the opportunity to go to a Leadership Seminar for Women in Business. Joyce Bone was the speaker, fantastic, and it really struck a cord with me. She spoke of a lot of the same qualities Mark writes about in the article!
She was so honest about the struggles and triumphs she had to overcome on her way to becoming a successful entrepreneur.
Check out her site-she is smart and straightforward-I am hooked!
It has really helped me to develop and launch my small business..
www.millionairemoms.com
www.JoyceBone.com
I just started in February and have a good following. Some want to copy what I'm doing, but not everyone can be as successful running an online business. I spend a lot time marketing. I have to keep dreaming of ideas and make them come true.
Iris
www.FragrancesAndMore.net
@BodyOilsAndMore (Twitter)
Thanks for the mention Carol!
I didn't even know about the article (or you for that matter!) =)
A Mr. Edward Lujan saw the article and recomended his website scheduling widget from his company www.setster.com
That's when I found the article! Quite good I might add. =)
-Matt Rhodes
www.ToStudentTutoring.com
I liked your brief article, and I agree with your points, in general.
I have written a few comprehensive business plans (for myself and others), studied entrepreneurial writings and efforts for 2 decades, and enjoyed one mildly successful 'brick and mortar' business years ago. It can be a rude awakening to learn that online business is an entirely different entity altogether. Regardless of strategy (planning), when you are an unknown, you are simply an unknown. It takes quite some time to break through the 'barriers to entry' online, added to which the "wild west" nature of the internet (the schemers, scammers, and general schlock) makes it all the more difficult for a budding entrepreneur with a great product (or products) to gain the trust and attention of his/her target market. It is frustrating that there are simply no shortcuts (short of compromising one's integrity).
Perhaps the one caveat to a "shortcut" is to enjoy "partnerships" or "joint ventures" (although this terminology is becoming abused as well) that can hurdle one over the barriers. Genuine, mutually beneficial partnerships and joint ventures are as challenging to find as "gaining trust and attention". Then too, virtually everyone who has developed a strong product believes that their product is earth-shattering (of course, I am one of these people as well). The hype of internet marketing/advertising creates a "boy who cried wolf" syndrome, resulting in extreme (and healthy) cynicism and skepticism. I know you know all of this; I am not necessarily telling you something new, I know.
The recession has created a new influx of online "gold diggers" who are rushing to that dream and finding a nightmare of shark-infested digital ethers and a mandatory education; surfing the net requires a huge surfboard that one cannot fall from, and plenty of shark repellent.
Keep up the great work. If you feel so compelled to pull a swimmer from the digital ocean and onto the shoreline of success, please let me be the first.
Regards,
Kurt Turrell
TheDudeBrands.com
University Oklahoma has had a launch pad very similar to this for a couple of years
Self employment has no age or racial barrior but why does your magazine ignore the adult film industry. As a female, adult website owner, this is so frustrating.
Did you know the adult industry makes more cash than the NFL and NBA combined? So, who is mainstream now?
A step-up of young entrepreneurs, he is very great, and I very much appreciate his
If he doesn't know what he is doing, mutual fund is the way to go. That might be counted as cheating in the class though.