Business School as Incubator? One Business School Student’s Tips
A student from the Class of 2012 at the University of Chicago Booth School of Business shared her tips for how to make a business school education double as a start-up incubator in a recent column in Forbes.
Liz Kammel set out for Chicago Booth with plans to help grow her family’s business. Surprise. Part way through she found herself instead starting a company of her own to help men find jeans that fit them. Her recent Forbes column provides valuable tips for prospective entrepreneurial business school students on how to use a business school program most effectively to launch a startup.
Beyond what you learn in the classroom, business school can provide several elements that will prove crucial to a successful entrepreneurial venture, Kammel writes. In her time at Chicago Booth, she found a sounding board for ideas, a great team, advisors and beta customers.
But that’s not all. To her surprise, Kammel even found investors there. “Your classmates may be angel investors,” she writes. “After they have seen your product and tested it, keep your eyes and ears open as they may want to back you, too,” she adds. But be sure to tell potential classmate investors that they may make nothing at all – setting expectations ahead of time is important, she cautions.
Check out Kammel’s recent column, “8 Ways Business School Can Be an Incubator for Your Startup,” for more useful tips.