In an effort to encourage students to pursue the “American dream,” the school of business held an event last Friday that discussed the requirements to be a successful entrepreneur.
“An entrepreneur is someone who is innovative and thinks outside the box,” said Lisa Brumbaugh, regional director of the Kansas Small Business Development Center. “Entrepreneurship is the American dream. In this country anyone can have a passion, open a business and pursue it, as long as they can come up with the funding.”
Around 30 participants attended the event in Cremer hall. A professional meeting between ESU’s business department and Beta Alpha Psi, an honors accounting organization, was held during the event, followed by guest speaker Brumbaugh who discussed entrepreneurship and KSBDC’s involvement with new and progressing entrepreneurs.
“I agreed to talk because I really want to connect with the students and let them know that the KSBDC is there and what we do and to let students know that we have a unique opportunity for them to connect with small business clients,” Brumbaugh said.
Corina Nour, graduate business administration major, said that the meeting was interesting, educational and interactive.
Brumbaugh said that even though entrepreneurship exemplifies the modern American dream, the field requires a substantial amount of capital to get into and does not guarantee success.
“We hear about failure rates all the time,” Brumbaugh said. “The risks usually include not having enough capital or cash flow, usually caused by a business not getting enough financing in the first place and sometimes a new owner is not ready to manage all the responsibilities and is not good enough at multitasking.”
Brumbraugh said the KSBDC works with approximately 50 clients each year to prevent financial atrocities.
“We spend about eight and a half hours on the average client,” Brumbraugh said.
Some business students said that they would engage in entrepreneurship if given the chance and financial advantage.
“I would be an entrepreneur,” Nour said. “I am definitely interested.”
Nicole Skala, graduate business student, did not say whether or not she would engage in entrepreneurship, but provided advice for those involved with the field.
“Follow your dreams,” Skala said. “If you want to be an entrepreneur and own your own business or be creative and invent something, go for it. You have to have a thick skin and a good skin if you want to make it in the entrepreneur world.”
The KSBDC office is open Monday through Thursday from 7:00 a.m. to 5:30 p.m. in room 130 of Cremer Hall for financial advice and consulting.