2008 Woodie Awards
The business of business
Maverick Solutions, a student-run business created by the Entrepreurship Club, gives hands-on experience
by Andrew Johnson
Issue date: 11/29/07
Section: Campus News
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The Entrepreneurship Club at MSU, which began last fall, has found a way to turn student business ideas into reality. Maverick Solutions - a business created by students in the Entrepreneurship Club - has become a new source of knowledge and experience for students outside the classroom.
"Maverick Solutions is an outlet to the business world," said Shane Bowyer, assistant professor of management at MSU and faculty advisor for the Entrepreneurship Club. "We are trying to get students excited about entrepreneurship."
Solutions is a student-run business based upon three lines of revenue. The first source of revenue is business consulting. Maverick Solutions will provide assistance in services such as market research, surveying, business planning and product testing to community businesses, Bowyer said.
The second source of revenue for Solutions is youth business camp. The company will host a summer camp for students in early high school that focuses on entrepreneurship and key business skills, Bowyer said.
The final source of revenue for Maverick Solutions is t-shirt sales. With free use of a t-shirt printer offered by the Center for Global Entrepreneurship, Maverick Solutions will be able to create and sell apparel for campus organizations to help benefit the club, Bowyer said.
These three lines of revenue were chosen because they are conducive with the needs of new students and changing schedules.
Along with making a profit, students are also learning the logistics of business. With the help of an alumnus donation, students learned how to take an existing facility and turn it into a business. The club was able to take over Tune Town's vacated space in University Square and make it their own. The facility is scheduled to open in January.
"I don't think there has ever been a club that's had its own facility," Bowyer said. The facility will provide a place for the Entrepreneurship Club to meet and serve as a location that students can run businesses out of, he said.
Although Solutions is mainly run by business students, the Entrepreneurship Club is not related to any major and is open to getting people involved by attracting all types of students.
"We want the dentists and the engineers," said Jason Johnson, graduate assistant for the Entrepreneurship Club. "They can all be entrepreneurs."
Other students often have good ideas, but may not possess the business background to be able to put them into action, Johnson said. As the business grows, a need for students with additional skills will also grow.
"We'd like to attract the art majors," Johnson said. "We will need the graphic design."
The club will continue to recruit more students outside the College of Business, he said.
The club has experienced extreme growth since its start last fall. With only five members in the beginning, the club has grown to six officers and about 30 active members one year later.
"We want to expand and see how far we can take it," Johnson said.
As membership numbers rise, so do the benefits experienced by active participants. The club offers new opportunities to students to network with others.
"I have gained community knowledge and built contacts through the club," said Kevin Lake, director of communications for the Entrepreneurship Club.
Lake is one of two students who have been hired from the club by a community business to provide assistance in market research.
"I want to apply my knowledge," Lake said. "I like the hands on, get-your-hands dirty kind of experience."
Although they are currently working on a volunteer basis, the experience could earn them a paid position in the future, Lake said.
"It's a unique, fun club," Bowyer said. "We provide the resources for students to pursue a passion."
All MSU students are encouraged to participate in the Entrepreneurship Club, even if they are not interested in helping with the new Maverick Solutions business venture. Along with exceptional hands-on experience, the club also provides access to many guest speakers. These speakers, mainly business service providers in the Mankato community, offer valuable information about their field of work.
"Come to a couple of meetings and see what it's all about," Johnson said.
The Entrepreneurship Club meets every Thursday in Morris Hall 102 at 5 p.m. Membership fees are $25 per semester, or $40 per year.
"The club allows students to apply real world skills in developing a path to a future career," Bowyer said.
Andrew Johnson is a Reporter staff writer
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