Tag: small business

Business Students Start Baylor Entrepreneurship Club

kathy_carrStudent Entrepreneurs

“The biggest adventure you can take is to live the life of your dreams.“

–Oprah Winfrey

The Baylor Entrepreneurship Department has more than forty years under its belt and is a nationally recognized academic leader. So, it’s pretty safe to say the faculty and staff know a thing or two about business ownership and are committed to the study, teaching and practice of new business creation both inside the classroom and within the community. But it goes even beyond that. The Baylor Entrepreneurship Department encourages and challenges students and local small business owners alike to be innovative thinkers, to color outside of the lines.

This fall, a group of six Baylor students dared to scribble. What may have looked like an out-of-the lines hot mess, actually ended up as the Baylor Entrepreneurship Club.

An article from 10XFactory listed three reason to join an entrepreneurship club:

  1. Learn about real-world entrepreneurship issues
  2. Create a business network
  3. Learn how to work through failure in a low-stakes environment

Admittedly, these are three absolutely fantastic reasons to join an entrepreneurship club. But the Baylor Entrepreneurship Club looks at it just a little differently. This group of business students look at the club more as a place…the place where students take control of their own dreams.

The Baylor Entrepreneurship Department provides encouragement, support and even a crayon or two (or three, or four…) so students like those in the Entrepreneurship Club can scribble until their heart’s content and chase after their dreams. 

The Baylor Entrepreneurship Club 2020 founding members are Daria Rakitskaya, Nick Madincea, Grace Casper, Dillon Fontaine, Danielle Rozeboom and Bradley Heidebrecht.

Name: Daria Rakitskaya
Hometown: Moscow, Russia
Major: Entrepreneurship & Marketing
Fun fact about me is I am a former student-athlete and I played tennis for 16 years.

Name: Nick Madincea, Founder and CEO Drone Parks® Worldwide
Hometown: The Woodlands, Texas
Major: Finance (Pre-Business)
Fun fact about me is I’m a student pilot, learning to fly a 4-seater, Cessna 172 out of Waco airport (KACT).

Name: Grace Casper, launching a business this spring
Hometown: Parker, CO
Major: Entrepreneurship & Marketing
Fun fact about me is I host a podcast called Those Who Know.

Name: Dillon Fontaine
Hometown: Fort Worth, TX
Major: Professional Selling
Fun fact about me is I am an avid golfer and passionate about European History

Name: Danielle Rozeboom
Hometown: Abilene, TX
Major: Entrepreneurship & Management
Fun fact about me is I am a member of the Baylor University Golden Wave Band (BUGWB). 

Name: Bradley Heidebrecht, Owner of Long Run Solutions
Hometown: Southlake, TX
Major: Finance
Fun fact about me is I have been a stock trader since I was 17.

  

Why start the Baylor Entrepreneurship Club?

Daria: After I decided to retire from tennis, I was at a personal crossroad. I met Nick and he told me about his idea of starting an entrepreneurship club at Baylor. That was exactly what I needed to jumpstart my life in a new direction so I could pursue my dream of becoming an entrepreneur.

Nick: I am actually a fourth generation entrepreneur, so business is in my blood. When I first came to Baylor, a faculty member mentioned the need for an interdisciplinary, entrepreneurship club. After speaking with several students, I saw the opportunity and went for it. I am very excited at the prospect of the Baylor Entrepreneurship Club becoming the flagship club of the Hankamer School of Business. 

Grace: I love entrepreneurship and the whole process of making dreams become a reality. When Nick asked me to participate in the entrepreneurship club, I immediately jumped at the opportunity. I think this club will be a huge asset to Baylor. 

Dillon: Having the mindset of an entrepreneur challenges you to learn, grow, be flexible and persevere. That special way of thinking and processing is so important and can be beneficial even if a student decides not to open a business. 

Danielle: I honestly believe that entrepreneurs can change the world. As exciting as that sounds, it’s also a little scary. The Baylor Entrepreneurship Club will give students an extra push to get started, but it will also walk side-by-side along the way. 

Bradley: Nick introduced me to the idea of an entrepreneurship club. From there, we developed a plan together to find students across campus who have an entrepreneurial dream.

 

What do you hope to accomplish with the Baylor Entrepreneurship Club?

Daria: I want to help students realize that everyone has a unique story to tell. The kind of business we start and how we operate our business can help tell that story. I want to be part of that discovery.

Nick: My goal is to empower our members to have firsthand, real life entrepreneurial experiences that will increase their professional development and also further Baylor’s position as the nation’s premier Tier 1, Christian research university. 

Grace: I feel like the Lord calls us to dream big with Him and that we can glorify His name through business! I want to be able to connect other students to the right resources, so they can experience the big dreams.

Dillon: I hope to create a club that encourages interdisciplinary collaboration between entrepreneurs of all skills and talents from across campus. 

Danielle: I hope to help others gain insight, knowledge and confidence to pursue their own passions regardless of the end goal. 

Bradley:  I’m excited to hear from other students at Baylor as they share their ideas and dreams of starting a business while in college. 

 

Why should someone join the Baylor Entrepreneurship Club?

Daria: Students should join the Baylor Entrepreneurship Club for the opportunity to meet other students who see the world as they do. These new relationships can lead to teammates, partners and lifelong friends. 

Nick: Students can learn more about the entrepreneurial experience, process, and journey in the most “real world” way possible with the Baylor Entrepreneurship Club.

Grace: The Baylor Entrepreneurship Club will provide students with a community that will offer not only moral support but also practical advice, encouragement and coaching on how to launch your business.

Dillon: Students with a passion for entrepreneurship and a desire to network and learn new skills should absolutely join the Baylor Entrepreneurship Club.

Danielle: The Baylor Entrepreneurship Club is a unique group of students who are dedicated to encourage, lead and guide each other to success.

Bradley: Students should join the Baylor Entrepreneurship Club if they have a passion for entrepreneurship and want to learn the ins and outs of business and how to run a company.

For more information an the Baylor Entrepreneurship Club, please visit @baylor_bec on Instagram.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

The Perfect Trifecta | Waco, Baylor Entrepreneurship and Local Small Businesses

kathy_carrCommunity Entrepreneurship Program

“Waco is decidedly a cool town,
and for Baylor students to not appreciate that is weird.“

-Harper Mayfield | Baylor Lariat

In a recent Baylor Lariat article, student writer Harper Mayfield stated “Waco is decidedly a cool town, and for Baylor students to not appreciate that is weird.”

If that isn’t a sic’ em kind of mic drop, what is?

After a quick online search for things to do in this heart of Texas hot-spot, a 2020 VacationIdea.com article popped up with the “25 Best Things to Do in Waco, Texas.” Obviously, several of the activities are associated with Baylor University. Even more intriguing is the mention of a couple of local small businesses. Both Dichotomy Coffee & Spirits and Heritage Creamery received a shout out in the article. But that’s not the first time that a small business in Waco has received a nod. Lula Jane’s, a small unassuming bakery nestled quietly on Elm Avenue, was recognized as a 2020 Travelers Choice Winner by TripAdvisor.

As a matter of fact, using data from the U.S. Census Bureau’s Current Population Survey, AdvisorSmith.com recently ranked Waco seventh on a national scale for mid-size cities with the most small business owners. That’s a big deal.

Considering that Waco is also home to the Baylor University nationally-ranked Entrepreneurship Department, it kind of seems like there may be this fabulous trifecta brewing with Waco, Baylor Entrepreneurship and local small businesses.

With more than forty years of experience,the Baylor Entrepreneurship Department is a nationally recognized academic leader. For the 2021 national rankings of undergraduate entrepreneurship programs, Princeton Review / Entrepreneur Magazine and U.S. News & World Report have once again both ranked the Baylor Entrepreneurship Department as a top-ten program.

With a top-notch team of dedicated faculty and staff, the Baylor Entrepreneurship Department is committed to the study, teaching and practice of new business creation. Students and local small businesses alike are the beneficiaries of that strong commitment. What makes this commitment exceptionally extraordinary is the color-outside-of-the-lines type of thinking. It’s the kind of innovative thinking that motivates, inspires and challenges.

The Baylor Entrepreneurship Department recently took a stroke outside of the lines with the Oso Launch Program. Oso Launch was designed to provide a niche group of entrepreneurially-minded incoming freshmen with a program that could provide guidance, mentorship and networking for their next four years on campus. Through Oso Launch, students not only build an entrepreneurial foundation with unique challenges in a learning environment, but they also have the opportunity to raise much-needed capital. That’s not the kind of experience you get from a textbook in a classroom setting.

The Entrepreneurship Department continues outside of the lines with the Community Entrepreneurship Program (CEP). This fairly new initiative expands the reach of the department deep into the community. Participants in CEP are local, small business owners who simply want to grow their business. The program provides peer-to-peer networking and valuable mentorship, along with training and coaching. CEP utilizes Baylor Entrepreneurship faculty, staff, students, alumni and donors in delivering this best-in-class Baylor content in a non-threatening, caring environment that welcomes small business owners from all backgrounds. 

The list Baylor Entrepreneurship forward-thinking initiatives and programs could go on and on. From the New Venture Competition and the 1846 Business Incubator to the Texas Family Business Awards and the BEST Program, Baylor Entrepreneurship is making a mark both inside of the classroom and the community as well.

Indeed a trifecta is brewing. And we happen to agree with Harper Mayfield. Waco is a cool town…a seriously, very cool town.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

Baylor New Venture Competition Recognizes Oso Launch Students

kathy_carrBaylor New Venture Competition

 

Let’s say you started a business in high school. It’s a small, local business with modest success. But there’s a tug at your heart that maybe, just maybe, you can take that small business and make something big with it. But how? After high school, there’s college. How does one navigate the world on a much bigger scale as both a collegiate student and a business owner?

The Baylor Entrepreneurship department created a program called Oso Launch that is designed to help incoming freshmen students in such a predicament. It’s designed to help students accomplish big dreams with their small businesses.

Oso Launch provides this niche group of incoming freshmen students with a program that walks alongside the students and offers guidance, mentorship and networking throughout their four years at Baylor. With Oso Launch, students build an entrepreneurial foundation by completing unique challenges and assigned milestones all within a learning environment. One such milestone is participating in the Spring semester Baylor New Venture Competition (NVC) Oso Launch Elevator Pitch Competition.

This pitch competition gives students an opportunity to communicate their value proposition in a compelling and unique way. It helps them dig deep into their business and business goals. The Spring 2020 NVC was originally planned for late March, but in coordination with the closing of Baylor campus due to Covid-19 the in-person event was canceled. With a little behind-the-scenes work, the Oso Launch students were able to compete in the Elevator Pitch Competition virtually. A panel of expert judges assessed and evaluated the student pitches, and three Oso Launch students were recognized for compelling pitches that clearly articulated their products and accomplishments.

Congratulations to Layne McCalmont, Ellie Meinershagen and Kristina Ward. You did a great job. Sic ’em!

 

2020 Baylor New Venture Competition
Oso Launch Pitch Competition Winner Profiles


First Place Winner Layne McCalmont
Awarded $1,000 for Thrifted by Layne | online clothing resale | Instagram @thriftedbylayne
Layne McCalmont 2020 Oso Launch Pitch Competition

COVID-19 IMPACT ON THRIFTED BY LAYNE
Because of Covid-19, a lot of people were at home and they were using their phones more than ever. Sales for Thrifted by Layne actually increased during this time. Customers were buying more because it was so much easier and more convenient to order from a phone. Also since I was back in Round Rock after campus closed, I was able to arrange no-contact, porch pickup for my local Round Rock customers.  

LONG TERM GOALS
I am currently planning to build a business website so that I can transition to a full ecommerce site and I’m not limited to just Instagram.

THOUGHTS ON OSO LAUNCH
By participating in Oso Launch, I have had the opportunity to network with several different people within the Entrepreneurship department. They have given incredible feedback and suggestions about business plans, marketing techniques, and selling opportunities. I also can’t say enough about the relationships I’ve built with the other Oso Launch students. It’s truly an awesome support network! 

 

Second Place Winner Ellie Meinershagen
Awarded $500 for Acute Accents | jewelry | Instagram @acuteaccents
Ellie Meinershagen 2020 Oso Launch Pitch Competition

COVID-19 IMPACT ON ACUTE ACCENTS
During the Covid-19 closings and restrictions, consumers were doing a lot of online shopping. I realized that I needed to adjust my business model. My initial focus had always been an in-person approach, selling primarily at local Waco markets. I needed to shift to an online format that could support shoppers beyond my local community. I’m very thankful that I was able to transition my business into an online brand. Acute Accents has now sold over 600 pairs of earrings to customers in 40 U.S. states during the past year.

LONG TERM GOALS
I started Acute Accents during the summer before my freshman year at Baylor, fully expecting it to be a summer hobby. A year later and Acute Accents is going strong. I will definitely continue selling online, at local markets and wholesale. However, I really want  to build a brand that supports other local makers by including and selling their work as part of a cohesive flea-market. I want to take my business from exclusively handmade earrings to a collection of unique clothing, jewelry and home goods. 

THOUGHTS ON OSO LAUNCH
With the resources available through Oso Launch, I was able to transition from a summer hobby to an actual business. I view the assigned milestones as motivational goals that have helped me grow my business. I’m so thankful for all the individualized support and coaching that I’ve received with the Oso Launch program, and I’m looking forward to seeing what’s next.

 

Third Place Winner Kristina Ward
Awarded $250 for Oso Sweet | gourmet cookies on a stick
Kristina Ward 2020 Oso Launch Pitch Competition

COVID-19 IMPACT ON OSO SWEET
Oso Sweet was created as a home-kitchen, bakery business with an initial plan to provide a cookie delivery service to Baylor dorms. When Baylor campus closed with Covid-19, all dorm residents moved back home. That was a problem for Oso Sweet. While I wasn’t able to launch my business during the quarantine, I was able to brainstorm how to best launch Oso Sweet in the future.

LONG TERM GOALS
I decided to focus on my studies for my next three years at Baylor. I do believe in this company and feel it could thrive at the appropriate time. I’ll revisit the idea after graduation. For now, Oso Sweet is on the back burner.

THOUGHTS ON OSO LAUNCH
Networking and mentoring are the hidden jewels of Oso Launch. Not only was I able to connect with people in the Entrepreneurship department, but also local business owners. Meeting with these business owners gave me such a deep appreciation for Waco!

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

Danielle Young, Revival Eastside Eatery

kathy_carrBaylor Grad


“Work hard and be nice.“

-Danielle Young

What would you like for lunch? If you’re feeling a sandwich, maybe the Weight of Glory or the Technicolor Dreamcoat. Or maybe the Golden Calf burger, but then there’s the Eve salad…

Those who have been to Revival Eastside Eatery on Elm Avenue in Waco are familiar with this unique menu. Revival Eastside Eatery has been around for about sixteen months and has made a big splash with it’s not-so-typical menu names and delicious food.

One would think that successfully opening a restaurant with an outside-the-box menu in an up-and-coming neighborhood the owner would have to be born and bred an entrepreneur. One would sorely be mistaken.

Danielle Young opened Revival Eastside Eatery with her husband, Travis, in the summer of 2019. Originally from North Carolina, Danielle and Travis moved to Waco in 2011 so she could attend Baylor. She received both her master and doctoral degrees in clinical psychology from Baylor. After falling in love with the city, the two decided to make Waco their home. Danielle soon took a role as Clinical Research Coordinator at Baylor while also seeing patients as a clinical psychologist serving children. Opening a restaurant wasn’t even a blip on their radar. 

Well, it wasn’t until it was.

This self described risk averse, research loving psychologist was simply enjoying life in Waco. She likes to say that Waco just kind of sucks people in after a while.

On one fateful night in 2017 Danielle and Travis were driving around Waco trying to find a place to eat dinner. They wanted to support a local business, but they also wanted something a little on the healthier side. One thing led to another and someone actually uttered the famous last words . . .  How hard could it be to open a restaurant?

The consensus between the two was instead of complaining about the lack of restaurant variety, they instead should do something about it. Afterall, how hard could it be? Danielle and Travis spent the next eighteen months working on a business plan for a restaurant. They evaluated if it was feasible, the kind of costs involved, what the competition would look like and who the customers would be. How hard could it be? Very hard. But the two soon started to dream of what could be.

The dream… a restaurant with unique food that’s fresh, tasty and is Texas-sourced; a place that’s not too fancy and kind of casual; somewhere with exceptional service and reasonably priced menu items. The dream wasn’t novel by any means, but Danielle and Travis felt it was novel for Waco.

The next big, big thing for Danielle and Travis to consider was location. Where would be the best place for their novel-to-Waco eatery? Danielle looked at the development of downtown Waco and felt that it made sense to expand beyond downtown. Elm Avenue was the perfect spot. Lula Jane’s was already an established neighborhood favorite, but there was nothing on Elm like the dream. Elm was deep in history and rich in culture. To Danielle and Travis, Elm was perfect.

They soon agreed that 704 Elm Avenue would be home to the dream. This particular property had been vacant for about ten years. It was previously the Waco Community Baptist Church. As the demo work on the building began, locals immediately flocked to the property to share stories and memories of attending the old church. It became clear that this dream-inspired eatery would also be steeped in that deep Elm history and culture. And what better way to pay tribute than to call the restaurant Revival! More specifically, Revival Eastside Eatery to also acknowledge the up-and-coming East Waco neighborhood. 

Since the building was an old church, the two decided to completely lean into it with the menu. And this is where the Weight of Glory and Technicolor Dreamcoat sandwiches come into play. Other notable mentions are the Golden Calf burger and the Eve and Garden of Eating salads.

This novel-to-Waco eatery became a hit. Word spread and Revival soon became a hot spot for locals and out-of-town folks alike. The eatery even received a nod from Magnolia.

Remember that question… how hard can it be? In less than a year of opening the unthinkable happened. In March 2020, restaurants were in a mandatory shutdown due to Covid-19. From the onset, Danielle and Travis were committed to do what was necessary to keep all of their staff. To say there was an immediate pivot in day-to-day operations is the understatement of a lifetime. At the time of the shutdown, the eatery didn’t even have online ordering. Literally overnight, an online ordering system was developed and “curbside pickup” became the new norm.

With the mindset we’re all in this together, the next task at hand became how to help the community. Families were now at home together. Parents were both working at home as well as teaching their children at home. With that in mind, the idea of Family Meals came into play. Keeping it as easy as possible with an “order today and pick up tomorrow” concept. The benefits of Family Meals were two-fold, not only did this give families room to plan ahead but it also allowed for the eatery to prepare without a significant amount of food waste. The Family Meals soon became a huge hit and ultimately helped carry the restaurant when the dining room was closed.

After the eatery was able to open up the dining room again, Revival continued with Family Meals. While not near as many orders are placed, it’s still a popular menu item.

In effort to be socially conscientious, Revival also made some front-of-the-house adjustments. Instead of counter-service ordering, customers are now seated and ordering is done table side. QR codes are affixed to the tables so customers can view a touchless menu via scan. While the initial implementation of the table-side ordering with QR codes was for social distancing purposes, Danielle likes the process and actually looks for it to continue.

Throughout all of the unexpected ups and downs the past eight months have thrown at Danielle, she continues the day-to-day mindset of work hard and be nice. A mindset that definitely helped make a dream come true.

Q&A

Question submitted by Dr. Boris Nikolaev, Entrepreneurship Professor
The restaurant business is very competitive. Were you aware of the risks when you decided to open a business?

Yes, and people thought we were insane for opening a restaurant. We were aware of the failure rates and did our own research. We learned a few things along the way. We learned some of the common causes for failure are:

  1. Renting and not owning your own space — rent can go up and you have no control
  2. Location. Location. Location.
  3. Underestimating costs

Question submitted by Dr.Peter Klein, Entrepreneurship Department Chair
How have the city’s specific development efforts on Elm Avenue either helped or harmed your business?

With TIF (tax increment financing) the mindset is there are small grants that can help renovate buildings. We were able to get a little bit of money to help redo the facade work. The city took care of new sidewalks. Elm Avenue will be under construction for the next 18 months, so it will be good and bad. Great improvements, but folks will have a hard time getting to the restaurant.

Question submitted by Bradley Settles, student
How do you feel about the current direction of the East Waco development?

We’ve been in business for 16 months. The city is very mindful about development on Elm Avenue. City Center Waco also works with the community, being intentional about development and striving to put the community needs above businesses. 

Question submitted by Dr. Boris Nikolaev, Entrepreneurship Professor
What do you do that sets your business apart from other similar businesses?

We do a really good job of being hospitable and welcoming. We work hard to train our staff. Our customer service is great! We also don’t take ourselves too seriously. We have the mindset of whatever the customer wants, we will make it — a picky eater’s delight!

Question submitted by Gib Reynolds, Director 1845 Incubator
With turnover being so high in this industry, what do you do to take care of your staff?

We started July 2019 and still have four of an original staff of nine. We practice shared tips. With shared tips, our staff takes home somewhere between $16-$18 an hour depending on the day.

Our philosophy is everyone is working hard whether or not the customer sees it. We want to make sure our people are taken care of. The cool thing about being an owner and working on site you get to regularly see your staff and their needs. Loving employees well is something we do differently.

Question submitted by Dr. Boris Nikolaev, Entrepreneurship Professor
If you could do something different on your entrepreneurial journey what would it be?

When we first started we were looking at chefs and actually paid someone to create the  menu and recipe development. We very soon realized that we were investing a lot of money. Two weeks before the Revival grand opening we let the chef go because we didn’t have anything tangible. In the two weeks before opening I redesigned the entire menu. I reworked food costs and sought out Texas-sourced vendors. In hindsight, I would have believed more in myself from the get-go.

Even though Revival isn’t exactly what we thought it would be, we feel it’s even better now. It’s fun to watch what happens when you trust the process and absolutely trust yourself.

For additional outtakes from the interview with Danielle, please visit the Baylor Baugh Center YouTube page.

Outtake 1: https://bit.ly/3o7sGaI
Outtake 2: https://bit.ly/35cA6AD

For more information about the John F. Baugh Center for Entrepreneurship & Free Enterprise, please visit our website at baylor.edu/business/entrepreneur/.

 

Baylor Entrepreneurship Helps Student Business Owners Dream Big with Oso Launch

kathy_carrOso Launch

 

“You have to be burning with an idea, or a problem,
or a wrong that you want to right.
If you’re not passionate enough from the start,
you’ll never stick it out.“

-Steve Jobs

Dictionary.com defines an entrepreneur as a person who organizes and manages a business, usually with considerable initiative and risk. To take a leap of faith knowing that risks are unavoidable, substantial and even catastrophic requires a huge amount of passion.

But is passion enough? What if the rainy-day funds run dry or simply weren’t there to begin with? What if a speed bump becomes a bonafide road block? What if a big dream is overshadowed because of a lack of experience and know-how? 

The complexity of risks can be daunting to student business owners and could even change the direction of their journey. Without a doubt, student business owners have an abundance of passion. While that passion is important and absolutely necessary, the risks can be overwhelming when trying to juggle an entrepreneurial spirit with the demands of a collegiate student.

The Entrepreneurship department at Baylor University serves as a bridge-of-sort that helps students with dreams of owning a business become successful entrepreneurs in their own right. The Baylor Entrepreneurship department is dedicated to the study, teaching and practice of new business creation. With more than forty years of experience, the department is an academic leader, consistently ranking as a top-ten program nationwide. 

Realizing that incoming freshmen who aspire to be entrepreneurs are a captive audience for the next four years, it became evident that this was an untapped group that could benefit from the expertise of the Entrepreneurship department. Oso Launch was designed to provide this niche group of incoming freshmen with a program that could provide guidance, mentorship and networking for the next four years. Through Oso Launch, students not only build an entrepreneurial foundation with unique challenges in a learning environment, but they also have the opportunity to raise much-needed capital.

The program is now in its second year and has proven to be an engaging and fun platform for students to network with both peers and alumni who share a common interest in entrepreneurship. Eleven students were chosen to participate in the Fall 2020 Oso Launch freshman cohort. Each student will receive a Spring 2021 semester award of $500 upon completion of required program milestones.

The second-year, sophomore cohort is made up of twelve participants who have continued with the program. The Fall award will be up to $250 matched against capital raised during the semester. The Spring 2021 semester award will be up to $350 matched against capital raised, but is also dependent on the completion of required program milestones.

Three students from the sophomore cohort will be selected as pre-incubator participants. The 1846 Business Incubator was created with the purpose of helping student entrepreneurs develop feasible, sustainable and profitable businesses. The focus of the program is to work with early-stage student businesses through entrepreneurship programming and education, hands-on support from faculty, a network of mentors and office space in the incubator. The Fall award for pre-incubator participants will be up to $250 matched against capital raised during the semester. The Spring 2021 semester award will be up to $500 matched against capital raised. 

Shaun Limbers is the Associate Director for the Baugh Center and also oversees Oso Launch. He explains, “There really isn’t another program like Oso Launch that offers support for entrepreneurial students from the first day they step foot on campus; this is an exceptional program designed with exceptional students in mind.”  

With Oso Launch, Baylor Entrepreneurship helps student business owners turn passion and big dreams into the reality of successful entrepreneurship.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

A Tour of the Waco Entrepreneurial Ecosystem with Baylor Entrepreneurship

kathy_carrStudent Entrepreneurs

 

Steve Jobs once said, “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” A dream, a passion and a deep rooted why are certainly necessary to start a successful business, but how in the world does a Baylor student with dreams of entrepreneurship continue to persevere and get back on the proverbial horse time and time again?

That’s where the Baylor Entrepreneurship department, cloaked in a green and gold cape, swoops in to save the day. The Baylor Entrepreneurship department is dedicated to the study, teaching and practice of new venture creation. The faculty and staff are devoted to encourage, support and help those student business owners who dare to take risks. Who dare to persevere. Who dare to be entrepreneurs. Even if it means stepping outside of the classroom.

Join Baylor Entrepreneurship on a virtual Tour of the Waco Entrepreneurial Ecosystems and explore the outside-of-the-classroom, entrepreneurial resources that are available to Baylor students.

Melissa Pardun of Maker’s Edge Makerspace
Maker’s Edge is a collaborative workspace established with a goal to combine thinking and doing around the idea of offering space, tools, mentors, training and STEM outreach. Maker’s Edge is about getting people to explore things they really wouldn’t be willing to explore on their own. The whole point of coming to a place like Maker’s Edge is that you feel free to fail so you feel free to try again. A partnership with Baylor University allows students to be part of Marker’s Edge for free. 

John Passavant of Startup Waco
Startup Waco exists to serve entrepreneurs. The simple act of walking into Startup Waco expands business owners’ networks. Often when starting a business it’s not what you are doing but who you know can help you get from one step to the next step.

Gib Reynolds of Baylor University 1846 Business Incubator
The 1846 Business Incubator was established with the sole purpose of facilitating student startups. We take Baylor students with raw ideas and give them resources to launch companies before they graduate. Call to Action: if you have an idea, you’re curious about pursuing entrepreneurship, you previously started a company or you’re actively trying to start a company now send an email to Gib_Reynolds@baylor.edu.

Andrew Telep of Baylor University Experiential Libraries Commons (ELC)
Located in the garden level of Moody Library on Baylor Campus, ELC has digital fabrication tools and laser cutters available for use free of charge.

Q&A Session

Q:  John, what is the most exciting thing available for up-and-coming entrepreneurs in Waco?
A:  There’s a lot of opportunity. Waco has unbelievable resources available and provides a great environment to test ideas.

Q:  Melissa, do you have suggestions for introductory projects, things students can try?
A:  When most people come into the space they come in for one thing, usually a class requirement or something like that. They don’t actually have the mindset of “making.” We encourage students to come in and take as many classes as possible. There isn’t a tool available that doesn’t have a training class.

Q:  Gib, what type of businesses have you seen students start?
A:  Baylor students are creative. We’ve had a wide spectrum of ideas. It’s not just one kind of business that works here. Just start something. If there’s something that you are passionate about or interested in, learn by doing. Just do.

Q:  Melissa, how do you balance ambition and school work?
A:  It doesn’t take a lot of time to have a great idea. It takes time to bring the idea to market. Baylor has so many resources, the opportunities will naturally fall into place. Connect with the right people and you can make it happen.

Q:  John, how do you balance ambition and school work?
A:  Allow yourself to be pulled into something rather than being forced into something. The journey starts by taking that one step.

The Baylor Entrepreneurship department is helping to shape the future one dream, one passion and one why at a time.

Visit the Tour of the Waco Entrepreneurial Ecosystems video link at https://bit.ly/32GAeIz.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

Baylor Entrepreneurship Walks Side By Side with Local, Small Businesses

kathy_carrCommunity Entrepreneurship Program

 

At the stroke of midnight, the ball dropped and 2020 was ushered in with promises of a fresh start and a new beginning. After all, 2020 is a once-a-century year when the first two digits of the year match the second two digits. This is something folks will only see once in a lifetime. That alone makes 2020 a year to remember.

And then there was COVID-19…

COVID-19 came in like a wrecking ball. Schools, businesses and churches all felt the sucker punch. Baylor University was no exception. Classes went online, dorms emptied, events were cancelled and engagement programs were put on an indefinite pause. 

The Community Entrepreneurship Program (CEP), managed by the Baylor Entrepreneurship department, is one such program that felt the impact of COVID-19. CEP is a faith-based community entrepreneurship training program developed by Baylor University, hosted by local churches and facilitated by successful executives and entrepreneurs.

Participants in CEP are local, small business owners who simply want to grow their business. The program provides peer-to-peer networking and valuable mentorship, along with training and coaching. CEP utilizes Baylor Entrepreneurship faculty, staff, students, alumni and donors in delivering this best-in-class Baylor content in a non-threatening, caring environment that welcomes small business owners from all backgrounds. 

Denitia Blount of locally owned and operated Oh My Juice is both a Baylor grad and a small-business owner who volunteers as a facilitator for the program. Blount spoke at a Confessions of an Entrepreneur event on campus in 2019 and she explained, “You don’t know what you don’t know.” 

CEP helps small-business owners recognize what they don’t know in bi-weekly meetings, by providing support and one-on-one counseling in areas of accounting, finance and strategy. In March 2020 as COVID-19 hit, CEP was halfway through its Spring 2020 session (with record attendance and a diverse group of small businesses represented). The program was forced to go on an indefinite hiatus with respect to the regular meeting schedule. 

Dr. Peter Klein, Entrepreneurship Department Chair, co wrote a recent article for the LSU Business Review with the sentiment that uncertain circumstances can give businesses an opportunity to improve. The article states that in the end it’s businesses, and not policymakers, that should decide how to best weather COVID-19. 

The Entrepreneurship department, recognizing a strong need to pivot CEP to meet the needs of the small businesses facing life or death business scenarios, reconfigured the program to deliver real time, relevant strategy and information that played a major role in being able to keep a majority of these businesses in operation even through a shutdown. 

Michael Wyatt of Wyatt Brothers Moving was a participant in the spring CEP class. He explained that while the goals for the business didn’t change with COVID-19, they were definitely adjusted. The company has implemented a more go with the flow outlook and adjusted goal timelines to account for some of the unforeseen circumstances.

Shaun Limbers, Associate Director for the Baugh Center, oversees CEP and personally feels it’s a privilege to serve the local, small businesses especially during this very difficult time. He says, “We truly believe Entrepreneurship can be transformative with an ability to positively impact our community both locally and worldwide.”  He continues, “CEP is uniquely positioned to execute that vision on a local level.” 

In the coming weeks, the Baylor Entrepreneurship department will wrap up the spring CEP class. CEP may look a little different going forward, but one thing that is for certain is Baylor Entrepreneurship will continue to walk side by side with local, small businesses.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

ENT Buzz | Marlene Reed

kathy_carrB.E.S.T.

Marlene Reed, Senior Lecturer, Entrepreneurship and Corporate Innovation

 

WHO IS MARLENE REED?

I am a proud Baylor graduate. Never in a million years did I ever imagine that I would end up getting my PhD and teaching at my alma mater. I’ve had the privilege of teaching students and faculty in England, Scotland, France, Germany, Switzerland, Italy, Czech Republic, Ukraine, Armenia, Russia, China, Australia, New Zealand, Zambia and Rwanda. God has blessed me richly!


WHAT DO YOU DO AT BAYLOR?

At Baylor I’ve taught the Business Excellence Scholarship Team (BEST) and Strategic Management and Entrepreneurship. I love teaching these courses. I previously owned a Christian book store and I feel my first-hand experience as a business owner helps me understand problems that managers may run into while operating a business.


WHAT’S SOMETHING INTERESTING ABOUT WORKING IN THE ENT DEPARTMENT?

A funny and kind of weird thing that happened while working in the Entrepreneurship department is the time Mary Abrahams (former Associate Director of the Baugh Center) and I went to Europe to plan the first Entrepreneurship European Experience. Late one night while in Milan, we couldn’t find our way back to our hotel. To make things worse, a drunk young man kept following us telling us he would help us find our way. We finally lost him and wandered around for an hour until we found our hotel.


WHAT’S YOUR FAVORITE BAYLOR TRADITION?

I can’t pick just one favorite. I have two — Homecoming and Sing. I think I love Homecoming so much because I get to reconnect with friends from the past. Something that a lot of folks don’t know is I was actually a Baylor Homecoming Queen nominee. Unfortunately, the Asian flu was going around that year, and I got it. After appearing on the football field at halftime, my parents whisked me away to Houston because we had all been asked to leave school if we could. I also love Sing, and I just happen to be on the Sing Faculty Committee.


WHAT ADVICE WOULD YOU GIVE TO A NEW ENT MAJOR?

My advice to a new Entrepreneurship major is to enjoy every minute of your time at Baylor and get involved in everything that appeals to you. The time spent at Baylor is so short, and students need to get the very most out of. I certainly did.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.

 

Michael Wyatt, Wyatt Brothers Moving Company

kathy_carrCommunity Entrepreneurship Program

“Do things better.“

-Michael Wyatt

Michael Wyatt grew up in the small town of Groesbeck, Texas. Like a lot of pre-teens, he took to mowing neighborhood lawns as a relatively easy way to earn a little extra cash. Michael soon developed friendships with his customers, especially the veteran who lived across the street. The two would sit for hours and talk. After graduating highschool, Michael went through the fire academy and became a firefighter in a neighboring town while also working as an EMT in Groesbeck at the Limestone Medical Center.

Michael’s brother, Danny, spent time in the Marines and later worked for a moving company in the Dallas area. Danny spent six months observing the business and running numbers. Michael and Danny would often talk about what it would take for the two brothers to start their own business. Should they…could they…what if… The back and forth went on for a while, then one night in November 2014 over a Texas-style BBQ dinner, Michael’s wife prodded, “You need to either do it, or don’t.”

Michael and Danny did it. Five weeks later Wyatt Brothers Moving Company was a reality, servicing a 500 mile radius from Waco.

The first goal for the new company was simple: find a move. It didn’t take long to find that first move. A customer asked the brothers to move a 1,100 pound safe to a third floor apartment. Let that sink in for just a minute: 1,100 pound safe to a third floor apartment. It took forty minutes, with additional help from the customer, to move the safe. That first move earned Wyatt Brothers $100. Michael describes the move with one word, “Terrible. It was just terrible.”

But hey, you have to start somewhere. With that safe move, the brothers officially met their first business goal. Word of mouth started to speed things up for the brothers. Michael talked with someone at a local apartment complex, which led to a working relationship that helped put Wyatt Brothers at the top of the list for four-sister company complexes.

On one particular job, they were moving a tenant from one building to another within the same complex. A trailer couldn’t be used, so Michael and Danny walked and carried everything from building to building. During the move, Michael noticed a guy standing in a stairway watching their every step. Every…single…step for one and a half hours.

The man finally approached Michael and asked if they were professional movers. He explained that he was with a production company and needed to move some appliances that afternoon to a house in Hubbard. Wyatt Brothers was able to move the appliances, leaving another satisfied customer.

When Michael told his wife the story about the stairway guy, her immediate response was, “I wonder if he was with Fixer Upper?”

A quick YouTube search confirmed that the hard-working brothers did indeed actually move appliances for Fixer Upper. Shortly after, the stairway guy called and asked the brothers to move some furniture. He admitted that it was pretty cool to watch the brothers in action and asked to film them.

On January 15 during the last episode of season one, Wyatt Brothers Moving Company was filmed as the mover for Fixer Upper. This small-town business that was established over a family BBQ dinner was featured in almost every Fixer Upper episode from then on. 

By the time Fixer Upper ended in April 2018, Wyatt Brothers had become a trusted, local name. There was a noticeable trend in repeat customer business. For Michael and Danny it was about establishing a family name legacy and providing stellar customer service with trust and transparency. 

In January of 2020, Michael enrolled in the Community Entrepreneurship Program (CEP), a faith-based community entrepreneurship training program developed by Baylor University. Local churches would host the meetings, while successful executives and entrepreneurs facilitated them. With CEP, Michael was able to network with other local, small-business owners as well as collect some significant take-aways in accounting, financing and marketing strategy.

The ultimate goal was to grow Wyatt Brothers, but to also keep the business small. During 2020 the brothers planned to bring on an additional three full-time movers and two part-time movers. But in March 2020 everything took a wonky turn with Covid-19 stay-home orders. 

While business did slow down a bit during that time, people were still moving. However, a lot of folks were working from home and had extra time to pack and move belongings without assistance. Normally in the spring, Wyatt Brothers would book out four weeks in advance. For 2020, it was closer to two weeks. 

As a medic, Michael knows the importance of PPE (personal protective equipment). With that in mind, masks became part of the Wyatt Brothers standard uniform. Some customers were initially uncomfortable with allowing a masked stranger into their home. To squash some of those fears, Michael now “meets” new customers via Zoom meetings and Facetime prior to on-site moves. 

Goals for the business didn’t change, but they were adjusted. With a go with the flow outlook, timelines were shifted to account for some of the unforeseen circumstances. A partnership was also added to the business plan. To enhance the overall customer experience, Wyatt Brothers partnered with Neat as a Pin to provide customers with additional packing, cleaning, unpacking and organizing services.

Michael prides himself on operating a personable company. From mowing to moving, he strives to do things better… no matter what’s thrown at him.

For more information about the John F. Baugh Center for Entrepreneurship & Free Enterprise, please visit our website at baylor.edu/business/entrepreneur/.

 

ENT Buzz | Priscilla James

kathy_carrBaylor Grad

 

Priscilla James, Program Manager John F. Baugh Center for Entrepreneurship & Free Enterprise

 

WHO IS PRISCILLA JAMES?

I am a small-business owner from Houston. In 2018 I received a Baylor MBA with a concentration in Entrepreneurship. My goal was to use my new-found, entrepreneurship know-how to grow my business, Priscilla’s Joyful Events. I also thought that my new business savviness would come in handy with the business I co-founded with my mom, Hephzibah Online Evangelistic Ministries. I stay busy. In my downtime I like to relax with my Chiweenie, Jack. He recently learned to tap a bell to go outside and he’s also learning to jump on command. Should I nickname him Jumping Jack?


WHAT DO YOU DO AT BAYLOR?

I’ve now been on staff at Baylor for two years as the program manager in the John F. Baugh Center for Entrepreneurship & Free Enterprise. I actually started working at Baylor just two days after graduating with my MBA. My main focus as program manager is to manage and develop the Baylor New Venture Competition. I really enjoy networking with successful business leaders and connecting them with young entrepreneurs. I like to think I have a small part in helping dreams become a reality for these budding entrepreneurs.


WHAT’S SOMETHING INTERESTING ABOUT WORKING IN THE ENT DEPARTMENT?

One word…treats! Deana Steele makes the best treats ever. We can always count on Deana to bake birthday goodies every month. She even bakes between celebrations. Deana really doesn’t need a special occasion to bake. The entrepreneurship-15 may become a real thing.


WHAT’S YOUR FAVORITE BAYLOR TRADITION?

I love the sound of the McLane Carillon at Pat Neff Hall! I smile every time I hear the bells toll. I especially enjoy hymns and Christmas carols during the holidays. 


WHAT ADVICE WOULD YOU GIVE TO A NEW ENT MAJOR?

The folks in the Entrepreneurship department can be a great source of advice and support. Getting to know the faculty and staff in the Entrepreneurship department can certainly open the door for a deeper learning experience.

For more information on Baylor Entrepreneurship, please visit our website at baylor.edu/business/entrepreneurship/.