Wednesday, April 11, 2007

SMU Students Want to Be Their Own Boss

Many young people experience a major outbreak of the entrepreneurial spirit during their college days. Maybe it’s that youthful sense of pride and ambition that seems to be characteristic of people in their twenties. Maybe it is because life hasn’t beaten us to a pulp yet. Whatever the case, entrepreneurial ventures and the desire to be self employed is on the rise in college students across the country.

It is a trend that is specific to this generation’s college grads. One factor to consider is the way today’s youth was raised is far more technologically advanced than our predecessors. We grew up on the computer instead of in front of the T.V. and were practically born with blue tooth technology embedded in our ears. This immediate access to communication created a need for instant gratification in young people not seen in previous generations. Having instantaneous and unlimited flows of information at upon one’s demand surely creates jaded expectations. Young people are seeking that same immediate success in the work place after graduation. College graduates no longer seek to stay at one stable job and climb the corporate ladder. They want to be the corporate ladder and set their own standards as they go.

This is especially the case here at SMU. Right now, in college dorm rooms across campus the next generation of Bill Gateses and Michael Dells are hard at work. The Cox School of Business even offers an entrepreneurship program at the Caruth Institute and its website includes a list of recent grads that have gone on to successful being their own businesses.

Many SMU students express the desire to be their own bosses after graduation and start their own companies. One thing to consider is the demographic of students that compile the SMU student body. There is definitely a shortage of broke, Ramen-eating college kids here. Tuition is prohibitively expensive. The Princeton Review explains the typical student at SMU carries a Louis Vuitton bag, charges on daddy’s credit card and is tan all year round. There are far more BMW’s in the parking garages than hand-me-down Corollas. But despite the privileged upbringings of SMU kids, entrepreneurial aspirations appear to be on the rise across the country. Whether or not they ever achieve this goal, the entrepreneurial way of thinking is on the rise.

This shift in attitude is apparent across several business ventures. It seems like these days, whenever you look at a newsstand, at least one major business magazine has a cover story about a wildly successful entrepreneur in his or her 20s or 30s. According to author, Jennifer Kushell, that's not surprising when one considers that one out of every five small-business owners in America is under 35, and that more young people are starting businesses than ever before.

Read more in:
“The Young Entrepreneur's Edge: Using Your Ambition, Independence,and Youth to Launch a Successful Business” by Jennifer Kushell

Or find out more about entrepreneurial ventures at SMU:
http://www.smu.edu/newsinfo/stories/entrepreneurs-29march2007.asp

http://www.cox.smu.edu/centers/caruthentrepreneurship/

2 comments:

Patricia Hudak said...

"That's not surprising when one considers that one out of every five small-business owners in America is under 35, and that more young people are starting businesses than ever before."

Where did you find this statistic?

College Bloggers said...

Good insights, but you might add a bit more depth of research to meet the different aspects outlined in the trend challenge. Provide links, and attribute your information.