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By TYLER ELLYSON
UNK Communications
KEARNEY – There are no tests or quizzes in Daniel Chaffin’s MGT 400 class.
It also does not require students to purchase a textbook.
The University of Nebraska at Kearney professor believes there’s a better way to teach them about entrepreneurship.
“Honestly, the whole class is starting and running a business,” said Chaffin, an associate professor of management at the university. College of Business and Technology.
“A lot of students think they might want to be an entrepreneur, but it’s hard for them to be sure without actually experiencing it,” he added. “This course gives them the opportunity to decide whether they like it or not, without having to leave their job to find out. »
A former business development analyst and director of strategic marketing for a large home construction company, Chaffin is known for connecting his courses with real-world experiences. He calls entrepreneurship an “embodied discipline,” something you have to see and do to truly understand.
“I want students to feel the ups and downs of it – the risk of failure, the joy of success and the need to move forward even in the midst of obstacles,” he said. “Successful entrepreneurs are not necessarily those who understand business the best. They are the ones who can best embody what entrepreneurship is.
In the MGT 400 class, students learn about each step of the entrepreneurial process. They work together in teams to develop business ideas, create pitches, coordinate suppliers, identify marketing strategies and execute their plans.
With start-up capital provided by the College of Business and Technology, each business operates for approximately six weeks before inventory is liquidated and the initial investment is repaid.
Proceeds are donated to a campus organization or service selected by the student groups. This is another important aspect of the project.
“It helps them create a sense of mission,” Chaffin said. “Yes, it’s a business, but there’s also a cause tied to it and that’s where what they do and why they do it takes on a lot of meaning.”
PERMANENT JEWELRY, TRUCK HATS AND GOLF CARDS
UNK senior Maddie Rose is one of 19 students who took the course this semester. She graduates Friday with a bachelor’s degree in general studies and is considering entrepreneurship as a potential career path.
“I explored a lot of different areas,” the Sutton native said. “I’ve been thinking about starting my own business one day, so it’s good to have that knowledge and experience.”
Rose and her classmates started Timeless Treasures, a permanent jewelry business.
“It’s kind of trendy right now,” she says of the soldered bracelets, necklaces and anklets that are meant to be worn all the time.
The group started with a list of interested customers — UNK sorority members were a key demographic — then expanded its reach by hosting pop-up events on campus. They finished with more than $1,500 in sales, with about $1,000 of profits going to UNK Student Health and Counseling.
“I definitely learned a lot this semester – way more than I would have learned in a textbook, that’s for sure,” Rose said. “At first it was overwhelming – a lot of planning and coordination was required – but I gained a lot of valuable information and experiences from it. »
Besides the additional knowledge, students of the entrepreneurship course have the opportunity to expand their professional networks. They learn from local business owners who share their experiences and provide mentorship throughout the semester while receiving feedback and advice from Chaffin and other UNK professionals.
“Making those connections with people in the class, in the business program and in the community has been very helpful to me,” Rose said. “Everyone in my group was complete strangers when we started, so it’s been quite a fun experience getting to know them.”
In addition to Timeless Treasures, other student-run businesses sold personalized flags for dorms and fraternities, as well as Nebraska and Kearney-themed trucker hats, with proceeds supporting the Interfraternity Council and the UNK Career Closet.
Elizabeth Vandenberg’s group initially planned to sell candy internationally, but was unable to find a wholesaler with low enough prices. So they decided to pivot and create the Swing and Save Card, a punch card that offers discounted rates at six area golf courses for students.
They ended up making about $1,600 in sales, mostly to local businesses who purchased the cards and gave them to UNK Counseling to distribute to students. Their profits were also used to fund counseling services on campus.
A Gretna senior, Vandenberg studies business administration with emphasis on management and a minor in entrepreneurship. She enjoyed Chaffin’s class because it is “tangible and real.”
“Entrepreneurship can seem so worrying and scary, but this course shows us that we have the skills to succeed,” she said.
These skills – communication, critical thinking, problem solving, budgeting and planning – can be applied to almost any career.
“I hope students leave this course with more confidence and a sense of accomplishment,” Chaffin said. “I think it’s pretty cool that they can go into a job interview and say, ‘Yeah, I was part of a startup and we developed this product.’ It’s a real deliverable that shows future employers what they’re capable of.