“Ten years ago, I would only get two or three students to raise their hands,” said Rainwater, a DeVry University professor and president of the Small Business Advisory Firm. “Now, the majority of my students do – and some share ideas even before class begins. It really represents a new mindset as students take a more entrepreneurial approach to learning. I think they’re surrounded by fast-growing startups like Uber and GrubHub, and they feel inspired to quickly bring their own business ideas to life.”

Business enterprise shows like Shark Tank, Beyond the Tank, and How I Made My Millions are indicative of a bigger business trend: renewed growth in small business and startup ventures. According to the 2015 Kauffman Index of Startup Activity and National Trends, the Startup Activity Index rose in 2015 – reversing a downward trend that began in 2010 – allowing the largest year-over-year increase in the past twenty years.

“Students see new, successful companies run by young creatives whose passion propelled them to success faster than climbing the traditional corporate ladder,” said Rainwater. “Not only is this inspiring more people to do the same, but it’s encouraging a whole new type of student to head back to school looking for resume-building experience that can jump-start job prospects right out of the program.”

Shaping a New Culture of Entrepreneurs
Today’s college student is different than past generations. In fact, according to the National Center for Education Statistics, nearly 75 percent of undergraduate students today could be considered “non-traditional.” They are often busy, working adults that have to balance the demands of school, work and family life.

Several non-traditional students need colleges that can fit into their busy schedules of work and family responsibilities. Moreover, many are coming back to school because they want to advance their current career or move to a new field quickly. Non-traditional students want their degree to speak for itself, demonstrating their capabilities and value.

That’s why Rainwater puts hands-on learning at the center of her curriculum.

“In my Senior Projects course, I challenge my students to explore their own neighborhoods, develop business plans for local companies and even kick-start businesses of their own,” she said. “It’s always rewarding to see their eyes light up when they first come up with a viable idea, or see the impact they’ve made in their communities.”

The approach has given students real-life experience and has encouraged collaboration with local organizations. Online grocery store Relay Foods enlisted the help of Rainwater’s students to revamp their salsa canning and distribution plan. As a result, the students were able to help the grocer increase brand awareness and customer appeal for their signature salsa. Another student turned her passion for making premium homemade soap into a business, eventually turning the side job into an online boutique.

The Benefits of Breakthrough for Rising Innovators
Outside the classroom, Rainwater is the president of the Small Business Advisory Firm, a network focused on meeting the educational, networking and program-specific requirements to compete in the federal and private-sector contracting environment.

“In the past, people had to go through an extensive process to start their own businesses,” said Rainwater. “Today, technology has removed many of the barriers that used to stand between big thinkers and entrepreneurship.”

Rainwater considers immersive learning an imperative tool for business students’ professional development. She believes that it not only fosters creative thinking and entrepreneurial spirit, but also creates a safe environment for students to build tangible skills that can be immediately implemented in the workplace – across a variety of roles and practices.

To help today’s students learn more about starting a new business, DeVry University offers a small business management and entrepreneurship degree specialization within its College of Business & Management. At the graduate level, its Keller Graduate School of Management offers an entrepreneurship concentration within its MBA program.

“Right now, U.S. startup activity is rising for the first time in five years, showing entrepreneurs are the most hopeful they have been in several years,” said Rainwater. “And the beauty of these entrepreneurship programs is they not only teach students how to grow businesses, but they arm them with skills to succeed when they hit obstacles along the way – setting them up for long-term success.”

*BPT

The post Start up your future: Teaching for today’s entrepreneurial business culture appeared first on AKAMom Magazine.

The traditional career path is dead, says business consultant Pete Gilfillan.

With rapidly changing technology and a global economy, the average company and employee in the United States continue to come to terms with the new normal.

Workers aged 50 and older who lost their jobs during the recession were 20 percent less likely to become re-employed than those 24 to 34, according to the Urban Institute. And, unemployment doubled for workers 55 and older between December 2007 and March 2012.

“It’s not just factory jobs that have gone, it’s also a wide range of middle-class, white-collar jobs that are letting go of their experienced people,” says Gilfillan, an entrepreneur who is opening new opportunities for business professionals as a franchise matchmaker, as detailed in his book “HIRE YOURSELF,”.

“Gone are the days when you could expect a job out of college to last an entire career. The new normal is, for many, a very cobbled career trajectory. Unfortunately, there are many talented, middle-aged professionals who are getting lost in the new shuffle. However, many are cutting their own new path.”

Gilfillan calls it “entrepreneur lite” – a franchise option that fast-tracks people to business ownership without the requirement of a brilliant idea.

“In franchising, someone has already dreamed the big dream, figured out how to make it work, and marketed and sold their way into a well-defined niche,” he says. “Now they’re looking for an investor and partner in building on that success.”

Is the entrepreneur lite career path right for you? There are many things to consider, including Gilfillan’s five Cs, which he summarizes as:

• Capital: Most franchise companies require a minimum level of liquid capital. A number of costs beyond the initial fee need to be considered when you’re investing in a franchise. There will be legal fees, rent, royalty fees, and equipment and inventory to purchase – to name some costs. Keep in mind that there is a ramp-up period with any business. You need enough money to cover your expenses during this time when more money will be going out than coming in. Meanwhile, the ordinary expenses of life continue.

• Capacity: You must have a certain level of business acumen. As a business owner, you must understand people and how to motivate, lead and support employees. Experience in sales and operations management is a plus. It takes strong leadership skills to build a business and develop a reliable staff, and savvy hiring skills will save you from costly mistakes.

• Cooperation: A franchisor will have a detailed plan for you to follow—and they need to know you will embrace that plan in a spirit of cooperation. They want to feel confident that you’ll follow their procedures and systems to create a consistent product and service upon which they can build their brand.

• Character: Franchisors expect the people with whom they partner to operate with honesty and integrity. As a franchisee, you will be representing the brand, and franchisors will take a close look at how well you will do that. A company may do a background check on their candidates to make an assessment of this quality.

• Customer satisfaction: Warren Buffett famously said, “It takes 20 years to build a reputation and five minutes to ruin it.” Think about your own shopping and service provider experiences and how those interactions have shaped your opinion of businesses. Everyday transactions can earn your repeat business—or ensure you won’t be back. Do you have the desire and passion to create a superior customer experience? A franchise needs to ensure that you will take good care of customers.

About Pete Gilfillan

With more than 20 years of experience as a corporate executive and small business ownership, Pete Gilfillan is a matchmaker for entrepreneurs who seek career independence via franchise ownership. He also is author of the book “HIRE YOURSELF” (www.hireyourselfbook.com). As a young man, he worked 17 years at Ford Motor Company, rapidly advanced to general manager, when he guided 600 franchise dealerships generating $5 billion in revenue. Gilfillan became a franchise owner in 2010 when he purchased a multi-state master license to a junk removal franchise. Since 2011, he has been working as an independent franchise consultant with FranChoice to help potential franchisees gather information, evaluate opportunities and make smart selections in franchise ownership. Gilfillan is a graduate of the University of Wisconsin–Eau Claire.

The post Need A Mid-Career Jumpstart? HIRE YOURSELF! appeared first on AKAMom Magazine.

We’ve all been there – in the midst of raising your kids, you’ve likely stumbled across a parenting dilemma that made you think, there really needs to be a better way to manage this. Maybe it was just a thought, or maybe you came up with a great idea to solve the dilemma. Either way, the thought of moving forward with your thought or idea probably makes you a little nauseous when you consider all that’s involved.

You likely have a million thoughts running through your head. “I can’t do this,” “I have no time to invent something,” “No one would even buy my invention” and “I have no idea how to move forward with my idea.” After all, bringing a product to market is a huge endeavor.

Despite these thoughts, rest assured that hundreds of other parent inventors have felt the same way yet they have pushed forward to bring to market a solution that makes parenting easier and are now successfully running or have sold a lucrative business. If you’re like I was and have no idea where to start, here are some valuable lessons I’ve learned throughout my process of developing the Potty Wiz.

1.  Get inspired.

One of my favorite things to do as an inventor is peruse the hundreds of products created by moms and dads. I spend days just browsing all of the ingenious inventions. Doing this has certainly inspired my own invention as it opens up your mind to think about all of the possibilities. It also solidifies that your idea just might work, despite your self-doubts.

A good place to find these inventions is through browsing the Huggies MomInspired grant program website where you can read about all of the past years’ winners. You can also find some inspiration by googling “successful mom inventors.” Other good resources to browse for inspiration are Mompreneur Mogul, The Mogul Mom, Mom Invented and Mompreneur Media.

2.  Reflect on your own parenting issues.

The best product ideas are derived from a person’s own personal experiences. This is especially true when inventing juvenile products. Most of the time, there is a problem the parent faces when parenting that there is no existing solution for – so the parent creates the solution.

To help you pinpoint this problem, think back through your parenting journey. What problem did you face that could be solved with a simple solution that doesn’t currently exist? Is the problem a common problem that would be experienced by other parents? For example, I created the Potty Wiz as a solution to my own problems potty training my son. There were no products on the market that made potty training easier on both of us, so I designed the solution.

Be sure to check the market to make sure your idea doesn’t already exist before wasting any more time. You can do this by searching on Google, but you should also search Google patents and go through all relevant patents for further confirmation that your idea is unique.

3.  Invest in a provisional patent.

After you have come up with that really great idea, have determined there’s a need for that idea through consumer research and have made sure the product doesn’t already exist or infringe on an existing product, I highly recommend investing in a utility patent or a design patent. A utility patent protects the utility of your idea while a design patent protects the ornamental aspects of your idea. This can get confusing so you can read more here.

If you plan to pursue a utility patent, it might be in your best interest to first submit a provisional patent application. This provisional application is less cumbersome and less expensive and protects your idea for a full year. After a year’s time, and once you determine how you want to move forward with your invention, you can choose to file for a full utility patent or trash the idea. Design patents do not offer the provisional aspect, however, so make sure before you file for a design patent that your design is exactly how you want it produced. Otherwise, it will be useless.

Many people will tell you not to waste money on a patent but I disagree. If you don’t you most certainly risk someone else coming up with the same idea and capitalizing on it right away and you will lose out. I’ve seen it many times.

4.  Take advantage of freelance websites.

One of the toughest parts of developing a product is finding a good product designer and a good manufacturing facility. I’ve talked to so many inventors who have just cold-called people all over the world, who have hired a liaison to find them an expert in another country, who have experienced so much stress and confusion associated with finding a designer and a manufacturing facility.

My golden nugget for developing a product on a budget has been freelance websites. I found my product designer on Freelancer.com who was also able to recommend a great manufacturing facility that he has worked with many times in the past. These freelance sites allow you to post your job and receive proposals from high-rated contractors/company representatives all over the world.

5.  Consider hiring abroad.

I know more than anyone that many inventors want to hire within the United States. They want a product designer and manufacturing facility based in America. However, what many inventors and startups don’t realize is just how much of a discrepancy there is in pricing between outsourcing projects or working within the United States. When I talk about discrepancy, I’m talking about 10-100 thousand dollar discrepancies. For a solo inventor or startup, the budget simply may not accommodate staying within the United States.

To ensure you’re being as precautious as you can when outsourcing, I recommend using established freelance sites as mentioned in the last point. You can also seek assistance from other small businesses in your industry to see what companies they work through. Another option is using LinkedIn to search for reputable manufacturing companies and product designers in various countries.

Inventing and bringing a product to market is going to be one of the most arduous processes of your life, while also being the most rewarding and fulfilling journeys. Good luck, we can’t wait to see your product on the shelves!

Kaylee Wickline is founder of the Potty Wiz, a multifunctional and transitional potty chair that accommodates the unique needs of both girls and boys unlike any other product on the market. Kaylee’s company is committed to manufacturing innovative products that making potty training a simple, convenient, autonomous, stress and mess-free experience. Kaylee is also a writer, speaker and advocate for women in business.

The post 5 Tips for Turning Parenting Dilemmas into Lucrative Inventions appeared first on AKAMom Magazine.

Clean Up – and Update – Your Online Presence

It’s common knowledge that employers check out social media profiles before they make a hire. They can also use these platforms to check up on current employees. Keep your accounts clean and professional – this means no snapshots of your drunken exploits and no tweets about how much you hate your boss.

Of course it is possible to lock down your social media accounts by making everything private and weeding through your connections to keep weekend activities hidden from your company or potential employers. But be careful, as having no online presence is as harmful as having an overpowering one. Strike a balance: if you keep Facebook and Twitter accounts highly private or don’t have them at all, maintain a LinkedIn profile and keep it up to date. Consider buying your name as a domain and set up a simple site as your online portfolio (you can check out mine, KaliHawlk.com, as an example).

Keep Learning

One of the best ways to boost your career and to make yourself more valuable as an employee is to continue learning new things. Educate yourself on the latest information and practices related to your work, or consider teaching yourself something new (like coding, SEO, or how to use a new online service that may be useful to your company). Always seeking a new challenge helps keep things fresh and interesting, and it’s really rewarding. It also makes you an indispensable member of your employer’s workforce.

Be a Volunteer

When it comes to new projects or tasks around the office, be one of the first to volunteer to take them on. Be eager and willing to accept new responsibilities at work, and don’t wait to be asked or told to get on an assignment. Your boss will appreciate your dedication and willingness to help and get stuff done.

Make New Connections

In a job market that is still pretty tough, it’s all about who you know. With more and more people with a wide variety of backgrounds and experiences competing for the same jobs, having an “in” with a company will give you a huge leg up on everyone else.

This year, make an effort to meet new people. Consider attending a conference, an event relative to your field, or simply reach out to people of interest via the Internet and email. When building your network, it’s always helpful to be accessible to potential connections and willing to add value to their business or project. Be open to exchanging ideas, taking a few minutes to brainstorm with them, or volunteer to answer a few questions or suggest a solution to a particular problem.

Start Your Own Business

There’s never been a better time than now to start your own venture as a freelancer or business owner. If you’re tired of being an employee working for someone else, make 2014 the year you start working for yourself instead.

Don’t think becoming an entrepreneur requires a huge investment or startup cost. People like Chris Guillebeau, author of The $100 Startup, and Natalie Sisson, author of The Suitcase Entrepreneur show that all you really need is an idea you’re passionate about and that other people would love to get involved with.

Kali blogs about common-sense financial advice at Common Sense Millennial. She’s passionate about personal finance and helping millennials manage their money and live well on less. Currently, she is pursuing the ultimate dream of writing for a living and moving abroad. You can connect with her by tweeting @CSMillennial 

The post 5 Ways to Boost Your Career in 2014 appeared first on AKAMom Magazine.