Tuesday, May 4, 1993
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Home Financing Workshop
Buying or building a home is a big decision. There are numerous steps and decisions to make along the way and that's why we'd like to help.
Join us for our Home Financing Workshop, an overview of the home financing process, on Tuesday, May 11th at 7:30 PM at the Holiday Inn Holidome. Topics such as new purchases, refinancing, the appraisal process and legal aspects will be discussed. The panel of speakers include a realtor, an appraiser, an attorney, and Credit Union lending personnel.
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Continued from Page 1.
"Entrepreneurs are very independen- dent in nature, and there is probably a lot more entrepreneurial activity out there that we just don't know about," she said.
Enthusiasm essential to success
One way to gauge the activity is to monitor local business organizations, she said.
Mike O'Donnell has been the director of the Small Business Center in Lawrence for four years. In that time, he has seen the ACE club double in size.
The Small Business Center in Lawrence works closely with ACE, advising members who have questions about business strategies, laws and taxes. The center serves people in six counties, including Douglas County
Chris Freemott, Naperville, Ill., freshman and new president of ACE, said the club had about 45 members. Only 40 percent are business majors.
"The club is available for people who are interested in the possibilities of starting their own business and taking steps to do it." Freemott said.
Marsh said his own business venture was ready but would not offer many details. He said that the business would be a branch of another company and work closely with KU. He said he was waiting to hear about a grant that would give him enough capital to start the business.
Curtis Marsh, a 1982 graduate and former president of ACE, said he formed a network of close friends and business contacts while in the club. He said they had been invaluable in helping him search for his own business to start.
Although Marsh has been offered several jobs since January, he said he would rather start his own business.
"Those who talk about the job market aren't lying — it's a pain," he said. Students like Marsh represent a new
"Students and graduates have lost faith in the job market," he said. "They want to create their own future."
Students like Marsh represent a new and growing trend, Meadows said.
Small business experts say two key elements are needed by aspiring entrepreneurs to assure the business idea will fly: enthusiasm and a solid plan.
Nearly 70 percent of EMI's profits come from tennis camps in the Kansas City area that the company organizes with financial support from corporate sponsors, including Pizza Hut, Pepsi, Wilson Sporting Goods Co. and Kansas City radio stations. The camps are held each year for people of all ages.
Muhl said he borrowed $4,000 from his father to get EMI off the ground. EMI lost about $3,000 in its first year, but Muhl paid off the loan after the second year.
"And you don't necessarily need a lot of money to start off with," O'Donnell said. "Some start off by borrowing too much, end up wasting it and get into real trouble."
Hess and Muhl also organize sporting events for some of those companies and send out a retail merchandise catalog to about 2,000 clients.
EMI has opened up new job opportunities for Muhl. He is going to work next fall for Pepsi, one of their top company sponsors. Hess will assume
But not every small business is a success story.
O'Donnell said that college-aged people often have the romantic view that entrepreneurship is a way to great wealth.
full responsibility of EMI when Muhi leaves
"I wouldn't encourage that," he said.
"A lot of people look at small business as jumping over the hurdle of facing the job market. When people come to us and show us their plan on paper, we kind of play a devil's advocate and discuss a lot of potential problems and other what-ifs.
Nearly eight of 10 small businesses are not around after 10 years, O'Donnell said. And only 3 to 4 percent of the approximately 21 million small businesses in the United States are owned by people under 25.
"In reality businesses take a lot of work. And many people will find they have to have experience working for someone else before they can go into business for themselves."
And the average entrepreneur is supposed to be around 30.
But don't tell Bennett Griffin.
The 23-year-old Lawrence senior started Gtronics, a computer software business, five years ago using his parents' home computer and local computer bulletin boards.
Griffin said he turned his hobby into a business.
"Ive always liked playing with computers, and I realized that while I was getting better with them, many people were still scared to death of computers," he said.
Griffin worked the business up slowly, eventually buying his own
computer to produce software that provides computer development tools for other programmers. Gronics grossed $22,000 this year.
The small $1,000 startup cost and low overhead are the things Griffin said he appreciated about Gronics. He wants those two factors to be part of his next business, a software importing business that he will start next year with Brian Osborn, a 1991 KU graduate who lives in Europe.
"We realized there was a shortage of software coming in from Europe, and since Brian has contacts there, we decided to give it a shot," Griffin said.
Meadows said one of the most productive areas for entrepreneurs now, besides the business consultation field, was computers and software. Michael Dell, CEO of Dell Computers Corp., and Bill Gates, CEO of Microsoft Corp., are the epitome of successful entrepreneurs, Meadows said.
gates dropped out of Harvard University to start what is now the No.1 computer software company in the United States.
Griffin, a computer science major, said he would not recommend dropping out of school to start a business.
"You never know what's going to happen with the business," he said.
It's good to have all your bases covered."
Having one computer business off the ground and another on the way is a relief, Griffin says. Not having to face the job market is a relief, too.
"It's just one major headache I don't have to worry about," he said.
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Compare and contrast the dialectic of phenomenology as revealed in the work of Hegel, Kierkegaard and Nietzsche. (Use additional blue books as necessary.)
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