No matter what career a student chooses to pursue—anthropology, chemistry, education, engineering, or what have you—innovation and a “self-starter” attitude are prized in the workplace. Every industry is challenged to keep improving its products, services, and operations. More than ever before, businesses want employees who act like owners.
To help students build these skills and expand their networks of professional contacts, the Institute for Entrepreneurial Excellence (IEE), part of Pitt’s Joseph M. Katz Graduate School of Business, launched a new student organization last year: The Entrepreneurs’ Society.
“The IEE has helped to launch and grow more than 7,000 businesses across the region, leading economic renewal and growth by serving enterprising people and businesses,” says IEE founding director and Katz Assistant Dean Ann Dugan, an internationally recognized leader in university-based economic development. “By creating this student resource, we are supporting not only the next generation of business leaders but also employers throughout Western Pennsylvania who need a self-starting, creative workforce to drive and support innovation.”
The mission of the Entrepreneurs’ Society is to bring together enterprising students in a campuswide organization that promotes, supports, and incubates creativity and innovation, and to connect those students with members of the business community.
The Entrepreneurs’ Society takes learning out of the classroom and into the field. That is why undergraduate and graduate students from all majors are encouraged to join—even those who do not want to start their own companies. Because small businesses represent 92 percent of all U.S. business enterprises, IEE officials say, students from all disciplines are likely to work for enterprising companies at one point in their careers. However, even large global companies seek entrepreneurial employees, those who take “ownership” whether they work solo, in teams, or as managers of divisions that operate like small businesses.
“In our company, we are always looking to hire people who are problem-solvers, who find ways to make processes and products better,” says J. Eric Sauereisen, president of Sauereisen, a manufacturer of specialty adhesives and chemical resistant materials, and a member of the IEE Advisory Board. He notes that flexibility and creativity serve the interests of employees as well as companies for which they work. “Most people change course throughout their careers—sometimes, not by choice,” Sauereisen says. “The ones who succeed are those who are curious about all parts of business, from technology to marketing and operations, which may not directly impact their own work. They are innovators who are able to pull good ideas from many sources.”
One way that Entrepreneurs’ Society students learn these skills is by hearing the first-person experiences of individuals who have built businesses from scratch. The society hosts an Entrepreneurs Lecture Series, inviting successful regional business owners from all sectors, from service industries to manufacturing, to share their wisdom and answer students’ questions.
At the February 2005 kickoff of the Entrepreneurs’ Society, commercial real estate developer R. Damian Soffer spoke to more than 175 Pitt students and faculty members. Soffer is codeveloper of Pittsburgh’s highly successful Southside Works and CEO of the Soffer Organization. Last April, the Entrepreneurs’ Society hosted entrepreneur Bruce Reed, who shared his story of starting Bruster’s Ice Cream and growing it to more than 200 stores in 16 states.
In addition to meeting with Pitt students on campus, business leaders invite them to visit their companies for tours and mentoring, as well as internships and project-based or full-time work.
“I would never have been able to meet so many company owners if I hadn’t joined the Entrepreneurs’ Society,” says Christopher Chu, a senior in the College of Business Administration who is majoring in marketing. “The personalized attention is very helpful, allowing me to learn about the types of businesses I might want to pursue after graduation, and maybe start someday.”
By volunteering on society committees, students build such skills as leadership, recruitment and team-building, networking, event planning, and sales and promotion. Members are encouraged to collaborate with entrepreneur clubs at other universities locally and nationally.
Industry and academics experts agree a solid business plan is critical to the success of any business. Entrepreneurs’ Society members receive coaching on the art and science of developing a business plan. In November, the society launched an initiative to capture and refine creative business ideas from the student community. The Big Idea Competition solicited ideas that were both innovative and likely to succeed in the market. Prizes for winning ideas included the opportunity to participate with a team of experts to help shape the idea into a viable business plan for entry into regional and national competitions.
“The IEE is excited at the progress of this new student organization,” says Dugan. “With our extensive network, we can tap into an almost infinite amount of community resources and national activities that reinforce creativity, innovation, and an enterprising spirit. Through local, national, and regional projects and events, the Entrepreneurs’ Society will prepare students to meet the needs of employers and will encourage them to consider remaining in Western Pennsylvania, mitigating the effects of the so-called ‘brain drain’: Ultimately, all of this supports and builds regional economic vitality.”
For more information on the IEE or the Entrepreneurs’ Society, call 412-648-1544 or visit http://iee.katz.pitt.edu.
