MANY EXPERTS PREDICT that
Generation Y will emerge as the
most entrepreneurial generation
ever. Academia is responding
with more programs to help students learn how to start their
own businesses.
According to the Kauffman
Foundation, an organization that
promotes entrepreneurship, there
are more university-based programs for young entrepreneurs
than ever before. Some 2,100 U.S.
colleges and universities offer
courses in entrepreneurship
(compared with 400 only 10
years ago).
Also expanding are related
organizations that support student
entrepreneurs. For example, the
Consortium for Entrepreneurship
Education (
www.entre-ed.org)
promotes education at all levels of
learning. The Network for Teaching Entrepreneurship (
www.nfte.
com) provides programs to young
people from low-income communities. Online programs, such as the
International School of Entrepreneurship (
www.theISOE.com),
offer training for young entrepreneurs on the Web. And the
Kauffman Foundation is a main
supporter of a popular event for
student entrepreneurs, Global
Entrepreneurship Week (www.
unleashingideas.org).
Another key development is
that top academic programs are
increasingly attracting leading
entrepreneurs as faculty or lecturers. One prime example: Sue
Decker, the former Yahoo! president (and member of Costco’s
board of directors), recently
joined the Harvard Business
School as entrepreneur in
residence.—DF
Education and
entrepreneurs
Raw deal
Bethany Herr-Hatfield
Age: 25
Company: Raw Way
Web site:
www.rawwaylife.com
THE DECISION TO lead an entrepreneurial
life often begins with an unmet personal need
and then evolves into a viable company. Such
was the case for Bethany Herr-Hatfield, a
mother of two whose breastfeeding woes led
to the creation of an innovative line of raw-food bars made primarily from fruit, vegetables and nuts.
“After I had Leila [now 1], she had so
many sensitivities to the things I was eating,
particularly dairy,” says Herr-Hatfield, of
South Lyon, Michigan. She decided to
experiment with a raw diet.
“I started looking around for convenient raw food and snacks, and I just
couldn’t find any,” she recalls. “So I started
playing around with making them for
myself as meal replacements for the week.”
Serendipitously, Herr-Hatfield had
begun patronizing a raw restaurant in
nearby Northville, Michigan. When she told
the owner, Carolyn Simon, that she was
making her own snack bars, Simon suggested that Herr-Hatfield make and sell her
SANTA FABIO PHOTOGRAPHY
products at the deli. Herr-Hatfield pays
Simon in bars for use of the space, typically
working on weekends so that her husband
can watch Leila and Bella, 5.
Herr-Hatfield now produces approximately 600 bars a week. Flavors include
Apple Pie, Banana Bread, Berry Sweet,
Cinnamon Almond and Lean Green Crunch.
For the past six months, the business has generated about $1,000 a month. Her products
are sold online through the company’s Web
site and are also available in several local
stores and through an online grocery store.
Her goal for this year: to hire some
employees and do enough volume to drop
the price of the bars, which are currently $4
on her Web site, by half. But she’s cautious
about growing too fast.
“This business is trying to start itself,” she
says. “I just need to balance being a mom and
taking only enough business so that I can
remain hands-on. I really want to do things
the right way.” C
MARCH 2010 ;e Costco Connection 25
Costco member Donna Fenn is author of
Upstarts! How Gen Y Entrepreneurs Are Rocking the World of Business (McGraw-Hill, 2009).