Think taking a 15 to 19-credit hour load in one semester is a lot of work? Try 15-19 credit hours, 6 children and starting up a business that involves traveling during the summer. That's what LTU Bachelor of Science in Information Technology student Sarah Thurmond has been doing this year.
Thurmond, whose husband and a son are fans of hardcore Christian music, was talking with her husband last year about the lack of traditional music-fan accessories in that genre. Normally, music fans can find t-shirts, hoodies and all other manner of clothing and accessories to display their music preferences, but the Thurmonds weren't having any luck. An idea sparked: if we can't find what we want, she reasoned, let's just create it ourselves!
At the time, Thurmond was enrolled in the New Ventures course (MGT3013) in the Undergraduate Management Programs, a course that focuses on the skills and knowledge necessary to design, launch, and manage a new venture. Through assignments in the course, Thurmond drafted a feasibility study to determine whether there was a market for the clothing, how much money she and her husband would need to invest and how best to launch the business. After the study was complete, Thurmond determined that the clothing business was a viable opportunity. After discussions with her husband and her family, the business was officially launched in December 2007 as Starve the Flesh Clothing.
In the New Ventures course, Thurmond also completed a market analysis and worked on the financial papers necessary for starting and funding the business. The Thurmonds' goal was to do the printing in-house using direct-to-garment technology. They didn't want to rely on third-party print-your-own-tee-shirt resources like Cafe Press -- they wanted full control over quality and print time frames. They also chose not to go with the older screenprinting process, the machinery and equipment for which are extremely costly, time consuming and do not produce the color intensity that can be produced in the direct-to-garment process. Although less expensive than the screenprinting equipment, the direct-to-garment printer (similar to an inkjet printer) was still pricey. Thurmond contacted the Small Business Association (SBA) and applied for a small business loan to cover the cost of printing in-house and the cost of the company's original inventory.
While it is often said that SBA loans are difficult to come by, Thurmond did not encounter any difficulties and was granted a loan, despite being a full-time student and not employed outside of the new company. Why? "I had a business plan," she explains, "and all the market analysis and financial papers" that she created in New Ventures. The SBA, as well as other funding organizations, look for strong documentation showing that the business is viable and worth investing in.
The next step was to create the designs. Not having a budget (or the need, yet) for a full time graphic design staff, Thurmond contacted the College for Creative Studies (CCS) in Detroit and hired a few students to develop designs on a freelance basis. Having the designs and the means to produce them, Thurmond needed a place for consumers to come and purchase the clothing and other itimes. The logical place? The Internet. Knowing that the business should be web-based, but without any prior website experience at all, Thurmond worked with Dr. Bush in the Undergraduate Management Programs on a directed study. In the course, Thurmond learned website theory and put it into immediate practice, developing the website, including e-commerce technology, for the company.
All companies need marketing in order to thrive. Thurmond and her husband identified three platforms to start their marketing efforts: Christian music festivals, Myspace.com and Facebook.com. All three areas are places where the company's target market already congregated, meaning the Thurmonds did not have to make an effot to first attract the audience and then deliver the message -- the audience was already there.
Thurmond took time over the summer to travel with her husband and children to various music festivals where she rented vendor space. Most festivals contract with vendors to let the vendors sell as much as they like, and then pay a percentage of profits to the festival at the end, rather than paying a flat fee up front for rent. The summer road trips were interesting, Thurmond reported. Her children, who ranged in age from three to sixteen years old, had various attention spans, and for some of them, sitting in booths for 12 hours a day was not going to work. Thurmond adjusted, however, and she and her husband and older children took turns working the booths and watching the younger family members.
And that's the ultimate goal that Thurmond has for Starve the Flesh -- that it becomes a business where all family members pitch in, and that it grows to a point where it can safely provide for the family's economic needs.
How did Thurmond get to LTU in the first place? She first learned of the university and its business programs in the 1990s, hearing positive assessments from business leaders in her community. She ultimately decided to pursue her degree in Information Technology after gaining an appreciation for the combination of theory and practice that LTU is known for. Now that she's been a full time student (and consistent Deans Honor Roll recipient), Thurmond says that she also likes the emphasis on communication in combination with technology within the degree programs as well as within individual courses.
Thurmond is continuing to develop her business as well as work toward completing her degree. Her company's website is http://starvetheflesh.com/
Wednesday, September 17, 2008
Monday, September 8, 2008
Need an Elective? Get a Recommendation from BusinessWeek's List of Top 5 Non-Business Classes Every Business Major Should Take
LTU Business Management and Information Technology students have the advantage of an industry-vetted list of required pre-core and core courses to prepare them for their careers -- but they also have the advantage of taking a variety of elective courses so that they can concentrate their studies on more focused areas of interest. Sometimes, though, it's tough to decide what electives to take -- and, sometimes, students wonder "why is this course required?"
A recent article on BusinessWeek's website (available here: http://tinyurl.com/bwarticle), titled "Five Non-Biz Classes for Business Majors" and authored by Dan Macsai offers an answer to both questions. 3 of the courses on the list are required of LTU students, and Macsai's article gives additional insight into why these courses are vital for business majors. 2 other classs on the list are available to LTU students as electives, and are definitely worth considering. Based on input from various business programs and career services directors around the country, the article explains the relationship of each course to a career in business.
The five "Non-Biz Classes" are:
(1) Writing and literature,
(2) Economics,
(3) Foreign language,
(4) Psychology and
(5) Statistics
Why these 5? Macsai explains:
(1) Writing and literature. All LTU students, regardless of major, take a variety of writing and literature classes as part of LTU's Core Curriculum. Included in the core: World Masterpieces, Foundations and Development of the American Experience and a junior/senior level elective in Psychology, Social Science or Literature. Macsai points out:
Communication skills are necessary in any field, and business is no exception. Whether you're drafting a marketing pitch or leading a presentation, you should be "clear, concise, and memorable," says George John, the chair of marketing at Minnesota's Carlson School. And several composition classes can produce that all-important editorial voice. Studying advanced literature—especially the more complex authors, such as James Joyce or William Faulkner—can also help you learn to "think and analyze critically," says Colorado's [Mary] Banks [, Director of Career Services].
(2) Economics. All LTU students take at least one economics course, and students in the Business Management program take both macro- and microeconomics. Why economics? The article states:
Beyond illuminating basic financial theory, economics classes impart the historical context you'll need to make an informed business decision. Once you understand how inflation works and what drives consumer demand (among other concepts), you can understand—and, more importantly, analyze—past U.S. economic trends, including the Great Depression and 1970s-era stagflation. Then, says Banks, "you'll be able to tackle the tough questions, like 'How do we get out of this recession?'" (3) Foreign language. LTU offers a minor in Spanish, the fastest-growing language in the United States, along with courses in German. BusinessWeek explains the importance of taking a foreign language: As business goes global, there's a growing need for cross-cultural understanding. And even though you might not be working abroad, chances are your company will be. Studying a second language, especially Spanish or, in today's climate, Chinese, could give you a "critical edge" in the office, says Anne Pagel, director of undergraduate academic advising and student services at University of Arizona's Eller College of Management. And just knowing simple cultural skills, including the proper way to greet someone or give thanks, "can make you feel more at ease around a foreign client," she adds. (4) Psychology. LTU offers a Bachelor of Science in Psychology with a variety of career tracks, thus allowing business and IT students the option of taking electives in Intro to Psychology, Industrial Psychology, and others. Macsai notes: If you're chasing a career that stresses marketing and sales—or any kind of prolonged social interaction—it helps to understand human behavior. Taking a psychology course can ensure you'll know how the brain works, what triggers an emotional response, and, to some degree, why consumers purchase certain items. You might even learn something about yourself in the process. (5) Statistics. All Business Management students take at least one statistics course. Knowledge of statistics is vital, Macsai explains: In the business world, basic math skills are essential—but not sufficient. "Everyone can add and subtract," Carlson's John says. "When you can look at numbers and see a narrative, that's a marketable skill." In a statistics course, you'll learn to manipulate jumbled figures into meaningful data. You'll be able to see old patterns and predict new ones. And if you wind up on Wall Street, you'll be better prepared to analyze those endless earnings reports and income statements—and, perhaps, make a million-dollar decision.
A recent article on BusinessWeek's website (available here: http://tinyurl.com/bwarticle), titled "Five Non-Biz Classes for Business Majors" and authored by Dan Macsai offers an answer to both questions. 3 of the courses on the list are required of LTU students, and Macsai's article gives additional insight into why these courses are vital for business majors. 2 other classs on the list are available to LTU students as electives, and are definitely worth considering. Based on input from various business programs and career services directors around the country, the article explains the relationship of each course to a career in business.
The five "Non-Biz Classes" are:
(1) Writing and literature,
(2) Economics,
(3) Foreign language,
(4) Psychology and
(5) Statistics
Why these 5? Macsai explains:
(1) Writing and literature. All LTU students, regardless of major, take a variety of writing and literature classes as part of LTU's Core Curriculum. Included in the core: World Masterpieces, Foundations and Development of the American Experience and a junior/senior level elective in Psychology, Social Science or Literature. Macsai points out:
Communication skills are necessary in any field, and business is no exception. Whether you're drafting a marketing pitch or leading a presentation, you should be "clear, concise, and memorable," says George John, the chair of marketing at Minnesota's Carlson School. And several composition classes can produce that all-important editorial voice. Studying advanced literature—especially the more complex authors, such as James Joyce or William Faulkner—can also help you learn to "think and analyze critically," says Colorado's [Mary] Banks [, Director of Career Services].
(2) Economics. All LTU students take at least one economics course, and students in the Business Management program take both macro- and microeconomics. Why economics? The article states:
Beyond illuminating basic financial theory, economics classes impart the historical context you'll need to make an informed business decision. Once you understand how inflation works and what drives consumer demand (among other concepts), you can understand—and, more importantly, analyze—past U.S. economic trends, including the Great Depression and 1970s-era stagflation. Then, says Banks, "you'll be able to tackle the tough questions, like 'How do we get out of this recession?'" (3) Foreign language. LTU offers a minor in Spanish, the fastest-growing language in the United States, along with courses in German. BusinessWeek explains the importance of taking a foreign language: As business goes global, there's a growing need for cross-cultural understanding. And even though you might not be working abroad, chances are your company will be. Studying a second language, especially Spanish or, in today's climate, Chinese, could give you a "critical edge" in the office, says Anne Pagel, director of undergraduate academic advising and student services at University of Arizona's Eller College of Management. And just knowing simple cultural skills, including the proper way to greet someone or give thanks, "can make you feel more at ease around a foreign client," she adds. (4) Psychology. LTU offers a Bachelor of Science in Psychology with a variety of career tracks, thus allowing business and IT students the option of taking electives in Intro to Psychology, Industrial Psychology, and others. Macsai notes: If you're chasing a career that stresses marketing and sales—or any kind of prolonged social interaction—it helps to understand human behavior. Taking a psychology course can ensure you'll know how the brain works, what triggers an emotional response, and, to some degree, why consumers purchase certain items. You might even learn something about yourself in the process. (5) Statistics. All Business Management students take at least one statistics course. Knowledge of statistics is vital, Macsai explains: In the business world, basic math skills are essential—but not sufficient. "Everyone can add and subtract," Carlson's John says. "When you can look at numbers and see a narrative, that's a marketable skill." In a statistics course, you'll learn to manipulate jumbled figures into meaningful data. You'll be able to see old patterns and predict new ones. And if you wind up on Wall Street, you'll be better prepared to analyze those endless earnings reports and income statements—and, perhaps, make a million-dollar decision.
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